DEAL DETAILS

Investcorp India Asset Managers Private Limited | Series A investment in Girnar Insurance Brokers Private Limited

NO

HEADINGS

DETAILS

1.

Sector

Insurance

2.

Announcement Date

14-Feb-2023

3.

Name of Client

Investcorp India Asset Managers Private Limited

4.

Investor Details

Investcorp Private Equity Fund II | India

5.

Target Details

Girnar Insurance Brokers Private Limited | India

6.

Deal Description

Advised Investcorp on their investment in Girnar Insurance Brokers as part of an overall funding round of USD 150 million. This is the largest Series A funding raised by an insurtech company in India.

7.

Total Consideration

USD 150 million

8.

Team Members

The core team consisted of Vineet Shingal (Partner), Harsh Khemka (Principal Associate), Srishti Mukherjee (Senior Associate), Mokshita Jain (Associate) with assistance from the following:Due diligence aspects: Vivek Narayan (Associate)

9.

Role of Firm

Legal advisors to Investcorp

10.

Other legal advisors if any with names of Lead Lawyers

Bharucha & Partners (Girnar Insurance Brokers), Cyril Amarchand Mangaldas (Goldman Sachs), Khaitan & Co (Chennai Office) (TVS)

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