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US venture capital firm Powerhouse Ventures has acquired an equity stake in Bangalore-based Sports365, which is owned and supported by Mahesh Bhupathi, Yuvraj Singh, Dipika Pallikal and Lara Dutta, for an undisclosed amount.
Gnarus Partners acted for Powerhouse Ventures with a team led by Managing Partner Rishi Anand along Counsel Raj Vardhan and Associates Jitendra Soni and Dhruv Chadha.
Sports365, which is India’s first professionally managed multi-channel sports fitness, apparel and equipment company, was advised by its in-house team.