Fund Formation

Our Expertise

Our fund formation practice regularly represents general partners and sponsors in the setting up and operation of multi-jurisdictional fund structures, including complex continuation fund structures. We have advised on the establishments of funds of all types and sizes – venture capital funds, private equity funds, hedge funds, mutual funds, debt funds, infrastructure funds, real estate funds, and so on.

We advise on structuring the fund in an optimal, tax efficient, and legally compliant manner. We have experience drafting, negotiating, and finalising the fund documentation including the private placement memorandum, limited partners agreement, trust deed, investment management agreement, investment advisor agreement, and contribution agreement.

We assist with the preparation of the applications to be filed with regulators in India, including the Securities and Exchange Board of India and Reserve Bank of India, for registration of alternative investment funds (AIFs) including GIFT City AIFs, offshore pooling vehicles, foreign venture capital investors (FVCIs), and foreign portfolio investors (FPIs).

We also advise the general partners and managers of funds on on-going compliance and reporting as well as governance matters, structuring team carried interest vehicles, and co-investment arrangements.

Our Indicative Experience

Represented a Mountain Pine Capital in connection with its investment in Blume Ventures, a Mauritius-based venture capital fund having a USD 60 million corpus.

Represented the sponsors of a Singapore based funds business in connection with their joint venture with a reputed global financial institution to create a multi-asset class platform to invest in various markets, including India.

Represented Sycamore Ventures in connection with its joint venture with a leading Indian financial institution to set up a USD 500 million infrastructure fund.

Represented Omidyar Network in relation to its investment in an India-focused Mauritius-based fund called the India Quotient Fund.

Represented a consortium comprising of HarbourVest Partners and Axiom on its purchase, through a secondary spin-out, of all the Asian private equity assets of Credit Suisse, which portfolio was then placed under the management of Asia Growth Capital Advisors.

Acted as the global legal counsel to Basil Technology Partners on a complex, stapled secondary transaction involving the formation of a USD 175 million fund and consequent purchase by the fund of 6 private equity assets of another private equity fund, which assets were based around the world and engaged in the technology sector.

Acted as the lead legal counsel to Avataar Venture Partners on a synthetic secondary transaction involving the formation of a USD 300 million fund and consequent purchase of 6 private equity assets of Norwest Venture Partners, which assets are based around the world and engaged in the technology sector.

Acted as the global legal counsel to Basil Technology Partners (BTP) on a likely first-of-its-kind transaction in Asia involving the formation of a USD 700 million fund by BTP and Capital Square Partners (CSP), and the consequent purchase by the fund of the private equity assets (which included taking-private listed portfolio) of BTP and CSP.

Client Testimonials