Argus Partners, Khaitan act on Dezerv fund raise

Whiteboard Capital has sold its stake in Dezerv Investments Private Limited (Dezerv) to Premji Invest, Elevation Capital, Matrix Partners (aka Z47) and Accel.

Dezerv’s fundraising comprised a primary and secondary fundraising of ₹265 crores cumulatively. The funding round was led by Premji Invest, along-with participation from existing investors, Elevation Capital, Matrix Partners India (aka Z47) and Accel.

Argus Partners advised Whiteboard Capital on this transaction.

The transaction team consisted of Abhinav Bhalaik (Partner), Jitendra Soni (Partner) and Samia Haider (Associate).

Khaitan & Co advised Premji Invest with its primary investment in Dezerv Investments and secondary purchase of securities of Dezerv from existing shareholders by undertaking a legal due diligence on Dezerv and drafting and negotiating the transaction documents.

The core team consisted of Sanjay Khan Nagra (Partner), B N Vivek (Partner), Shivam Anand (Senior Associate) and Divya Rau (Associate) with assistance from the following:

Fintech and wealth-tech diligence: Smita Jha (Partner), Vivek Mimani (Partner), Chirayu S Heddthale (Principal Associate), Pritish Mishra (Principal Associate), Anushri Uttarwar (Associate) and Viti Bansal (Associate)

Employment and benefits diligence: Srishti Ramkrishnan (Principal Associate), Ajay Kranthi Kothwal (Associate) and Shaaryl Dsouza (Associate)

Corporate diligence: Anantha S Desikan (Senior Associate), Mahima Sharon Selvakumar (Senior Associate), Krishnadithya Bhaskar (Associate), Maansi Reddy Basani (Associate), Srivittal V (Associate) and Yashika Gupta (Associate).

Dezerv is a wealth management platform which allocates assets across proprietary equities, fixed income, and alternative investment strategies.

Through this fundraise, Dezerv plans to invest fresh capital into crafting new investment strategies, boosting its technology platform to deliver superior client experience, and hiring investment specialists for its next growth phase.

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