Trilegal, SAM, AZB, CAM, Samvad lead on Prosus Ventures, TPG Growth $350 million investment in PharmEasy

Prosus Ventures and US-based private equity firm TPG Growth are leading an investment of $350 million (about Rs 2,570 crore) in API Holdings Private Limited, the owner and the developer of ‘PharmEasy’, the online retail pharmacy platform.

The transaction included a primary investment as well as a series of secondary investments.

Trilegal advised Prosus Ventures and the team consisted of:

Corporate team: Partner and Co-head Corporate Practice Group Yogesh Singh, Partner Harsh Jain, Counsel Nitika Chhabra, Senior Associate Sibani Saxena and Associates Achin Goel, Stuti Dhundia, Ratnavel Pandian, Eshita Jain, Anasuya Goswami.

Competition law team: Partner and National Head Nisha Kaur Uberoi along with Counsel Akshay Nanda and Associate Tanveer Verma.

Employment law team: Partner Swarnima along with Associates Shraddha Maheshwari and Sachin Arora.

On the investment by TPG Growth and CDPQ Private Equity Asia Pte. Ltd., the Trilegal competition team advised API Holdings Private Limited on competition law aspects and the team was led by Partner and National Head Nisha Kaur Uberoi, along with Partner Gautam Chawla, and Associates Tanveer Verma, Gajendra Bhansali, Ankita Dhawan and Sruti Sivasubramanian.

Shardul Amarchand Mangaldas & Co. advised TPG Growth on the transaction.

The General Corporate team was led by Senior Equity Partner Iqbal Khan and Partner Faraz Khan along with Senior Associates Ashid Basheer, Tanvee Vasudevan, and Associates Amrita Rana, Avni Merchant, and Sumedha Mazumdar.

The Competition Law team was led by Partner Yaman Verma with Associates Kajori De, Saumya Raizada, and Apurv Jain.

The Employment and Labor laws team was led by Partner Pooja Ramchandani with Principal Associate Kriti Kaushik and Associate Suryansh Gupta.

The Intellectual Property team was led by Partner Mukul Baveja.

The Tax team was led by Partner Abhay Sharma and Senior Asociate Priyanka Jain.

AZB & Partners advised API Holdings Private Limited, Kedar Mankekar, Morbia Family, Medi Assist Healthcare Services Limited, Pradeep Chheda, Siddharth Shah and Nirupam Sheth and Bela Sheth.

Cyril Amarchand Mangaldas acted for CDPQ Private Equity Asia Pte. Ltd. and the team was led by Ravindra Bandhakavi, Partner & Head – private equity; and Amarta Roy, Partner; with support from Arijeet Mukherjee, Principal Associate; Srabanee Ghosh, Principal Associate; Aditya Dayal, Senior Associate; Shorya Choudhary, Associate; and Nilomi Doshi, Associate.

The Competition team led by Avaantika Kakkar, Partner & Head – Competition; with support from Dhruv Rajain, Principal Associate; Sree Ramya Hari, Associate; and Satvik Mohanty, Associate; provided advice on competition related matters.

The Tax team led by SR Patnaik, Head – Taxation; with support from Bipluv Jhingan, Senior Associate; and Nikhil Agarwal, Associate; provided advice on tax matters.

Nishith Desai Associates advised Evermed Holdings Pte. Ltd.,

Tatva Legal advised Aarin Capital Partners and MEMG Family Office LLP.

Samvad acted as transaction counsel to The Fundamentum Partnership I, Eight Roads Ventures India III LP, and F-Prime Capital Partners Healthcare Fund V LP, existing investors in API Holdings Private Limited.

The team consisted of Junaira Rahman (Partner), Ashwini Vittalachar (Partner), and Gauri Khanna (Senior Associate).