AZB and Sidley Austin help Kae Capital raise funds

Mumbai-based KAE Capital, an early-stage fund floated by angel investor Sasha Mirchandani has raised Rs. 13.85 crore (approx. $2.6 million) from domestic investors and has also raised an offshore fund with a target size of $24 million (approx. Rs.127 crore)..The offshore fund will co-invest along with the domestic fund..AZB & Partners acted as Indian legal counsel to Kae Capital with a team led by Partner Vineetha MG along with Associate Arpita Acharya..Sidley Austin LLP acted as the offshore counsel for Kae Capital. Partner Sam Gandhi led the Sidley Austin team..According to VCCircle, bulk of the $24 million raised came from global fund of funds like Morgan Creek Capital Management, Axiom Asia Private Capital, Squadron Capital and Capvent. The remaining amount came from a set of four venture capital funds – Sequoia Capital, Omidyar Network, SAIF Partners and an undisclosed firm..Family offices, individual investors and entrepreneurs like InMobi founder & CEO Naveen Tewari, Pangea3’s Sanjay Kamlani, Myntra’s Mukesh Bansal, Kedaara Capital’s Manish Kejriwal and Fame India’s Shravan Shroff are also investors in the fund..Kae Capital has so far invested in HealthKart.com, Mojo Entertainment among others, reports Dealcurry..Ernst & Young were the tax advisors for the deal. Sameer Gupta, Tejas Desai and Manish Khati were representing E&Y.