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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...
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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.