J.Sagar Associates (JSA) advised Facebook, Inc. (Facebook) in relation to its follow-on investment in Sorting Hat Technologies Private Limited (Unacademy) as part of the Series F financing round. The round was led by incoming investor SoftBank(Vision Fund); and other existing investors General Atlantic, Sequoia Capital, Nexus Venture Partners and Blume Ventures also participated in the funding round, pursuant to which, Unacademy raised an amount of approx. USD 150 million.
Founded in 2015, Unacademy is as an online education platform, with educators creating educational videos and conducting interactive classes for various examinations.
The deal values the company, reportedly, at approx. USD 1.45 billion.
JSA Team comprised Joint Managing Partner–Vivek K. Chandy; Partner – Rishabh Gupta, Principal Associate – Pooranimaa Hariharan; and Associate–Sudipto Mitra.
Fenwick & West LLP was the US counsel for Facebook.
Rishabh specializes in corporate transaction advisory, including mergers and acquisitions, private equity, and corporate commercial transactions. He has extensive experience with cross border subscriptions and sales, business transfers, leveraged and structured acquisitions and early stage investments.
Vivek assumed office as the Joint Managing Partner of the Firm from January 2019. He has over 30 years of experience in areas of private equity, mergers and acquisitions, corporate commercial work and real estate advisory in India.