True North (formerly known as India Value fund Advisors Pvt. Ltd)—a private equity and venture capital firm specializing in growth and buyout and industry consolidation transactions in mid-sized middle market companies—acquired a controlling stake in Home First Finance Company Private Limited (HFFC) —a housing finance company headquartered in Mumbai engaged in providing affordable...
True North (formerly known as India Value fund Advisors Pvt. Ltd)—a private equity and venture capital firm specializing in growth and buyout and industry consolidation transactions in mid-sized middle market companies—acquired a controlling stake in Home First Finance Company Private Limited (HFFC) —a housing finance company headquartered in Mumbai engaged in providing affordable housing loans to low- and middle-income groups.
The acquisition valuing about USD 100 million was achieved via secondary sale from a few of the existing shareholders and fresh issuance of shares. Bessemer Venture Partners (“BVP”), one of the earlier investors in HFFC, continued as a shareholder in HFFC.
Nishith Desai Associates acted as the counsel to BVP and advised them on the tax and legal aspects of the transaction, including negotiations and deal documentation.