Sofina Ventures SA (“Sofina”) invested in the Series E funding round of Finova Capital Private Limited (“Finova”), a leading non-banking financial company licensed by the Reserve Bank of India along with other investors such as Madison India Opportunities V VCC, Avataar Venture Partners II etc. The round size was approximately INR 1,135 crore.
Finova offers a wide range of financial products and services tailored to the unique needs of MSMEs, including working capital loans, machinery loans, business loans, and more. With more than 400 branches, Finova operates in 16 states, including Rajasthan, Madhya Pradesh, Chhattisgarh, Karnataka, Andhra Pradesh, Telangana, and Himachal Pradesh.
Nishith Desai Associates, acted as the transaction counsel for Sofina and advised them on legal and regulatory aspects, including negotiation and finalization of the transaction documents and closing of the round.
The deal team comprised of the following members:
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