JSA advised Creation Investments and OFB Tech in OFB Tech’s fund raise

J. Sagar Associates (JSA) advised Creation Investments India III, LLC (Creation) and OFB Tech Private Limited (OFB Tech) in OFB Tech’s fund raise of USD 110 million. 

The round was led by Falcon Edge. Existing investors Creation, Matrix Partners India and Norwest Venture Partners also participated in this round. 73 employees and 12 angel investors also transferred their equity stake worth $13 million.

OFB Tech operates B2B e-commerce platform and offers raw material procurement service and credit to small and medium enterprises (SMEs) through its non-banking financial company (NBFC) Oxyzo Financial Services Private Limited. OFB Tech focuses on the manufacturing and infrastructure sectors. OFB Tech also offers marketing services through its BidAssist platform.

JSA team comprised Lead Partner – Lalit Kumar, Partner – Bharati Joshi, Senior Associate – Amandeep Singh Virk and Associate – Kirti Singh.

Partner – Kumarmanglam Vijay and Associate – Shiv Singhal advised on tax related aspects.

Partner – Vaibhav Choukse and Associate – Nripi Jolly advised on the competition law aspect.