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Private equity firm TPG has led a $100 million (Rs. 685 crores) investment round in Five Star Business Finance Ltd, which makes loans primarily to small and medium businesses.
Existing investors Norwest Venture Partners, Morgan Stanley and Sequoia Capital also invested in Five Star alongside TPG Capital Asia.
Rajaram Legal acted for Five Star with a team led by Partner Priyadarshani Sherchan along with Associates Aakanksha Pagnis and Hemanth Joseph.
AZB & Partners acted for TPG Capital Asia and the team included Partners Ashwin Ramanathan and Roxanne Anderson and Associates Saloni Kulkarni and Kanika Mishra.
Shardul Amarchand Mangaldas Bangalore team acted for Norwest Venture Partners and the team included Partner Siddharth Nair and Associate Shachi Singh and SAM Delhi team advised Morgan Stanley with a team led by Partner Nivedita Tiwari and Associate Ananya Kulkarni.
Sequoia Capital was advised by Themis Associates and the team included Partner Siddharth Manchanda and Senior Associate Neha Mirajgaoker.
Five Star provides loans to nearly 40,000 customers including single-shop retailers like vegetable vendors, provision stores, food retailers and self-employed individuals. It manages around Rs 1,220 crore in assets across more than 150 branches, reported VCCircle.