J. Sagar Associates (JSA) advised Bertelsmann Nederland B.V. (“BII”) in connection with its investment in the securities of Ruptub Solutions Private Limited (“Treebo”) as part of a Series C funding round. BII along with existing investors SAIF Partners India V Ltd. (“SAIF”) and Matrix Partners India Investment Holdings II, LLC and Matrix Partners India Investments II Extension, LLC (collectively “Matrix”) and new investors WF Asian Reconnaissance Fund Limited (“Ward Ferry”) and Karst Peak Vermilion Partners Master Fund (“Karst Peak”) participated in the Series C round and invested approximately INR 2,200,000,000.
Treebo is a Bengaluru-based technology-enabled chain of budget accommodation properties. Currently, Treebo has presence in over 53 cities across India.
The definitive documents were signed on August 28, 2017. While Matrix and SAIF participated in the first closing, which consummated on August 31, 2017, BII, Ward Ferry and Karst Peak participated in the second closing, which consummated on September 8, 2017.
The JSA team comprised Partner – Raj Ramachandran; and Senior Associate – Pooranimaa Hariharan.