Deal Closed | Lightbox Ventures | Investment in Mindcrescent Wellness Ventures

The details of the deal are as follows:

Sector: Healthcare 

Announcement Date: 08-Feb-2021 

Completion Date: 22-Jan-2021 

Name of Client: Lightbox Ventures III 

Investor Details: Lightbox Ventures III | Mauritius  

Lightbox Management Ltd. is a venture capital firm incorporated in Mauritius specializing in early-stage, mid-stage, and expansion stage investments. It seeks to invest in the consumer technology space with a focus on education technology. The firm invests in India 

Target Details: Mindcrescent Wellness Ventures Private Limited | India  

The Target is engaged in the business of operating an online and offline platform under the brand “Innerhour” for providing products and services for mental wellness across India. 

Deal Description: Lightbox Ventures III invested an INR equivalent of USD 4.5 million in Mindcrescent Wellness Ventures Private Limited by way of primary investment.  

Total Consideration: USD 4.5 million 

Team Members: Vivek Sriram (Partner), Bhavya Bhankharia (Associate), Divakar Gupta (Associate), Jasleen Dua (Associate) 

Role of Firm: The Firm was involved in the following:(a) Conducting a legal due diligence on the Target and preparing a red flags only legal review report for the Client;(b) Acting as legal counsel to the Client for the overall transaction (including negotiating, drafting and reviewing of various definitive agreements); and(c) Assisting with the closing of the transaction. 

Other legal advisors if any  

Bombay Law Chambers 

Unique Feature of Transaction: Largest fundraise in the Indian mental health ecosystem till date.