DSK Legal advises Aytas Capital B.V., Manash Lifestyle

LE Desk

New Delhi, December 29, 2021: DSK Legal has advised Aytas Capital B.V. in investing into HealthQuad, an India-focussed healthcare venture capital firm run by Quadria Capital, that has raised Rs 1,134.5 crore towards the pre-final close of its second fund.

DSK Legal also advised Manash Lifestyle Private Limited in relation to 100 per cent share acquisition by it in Faces Cosmetics India Private Limited from its holding company, Faces Cosmetics Inc. (backed by SCI Growth Investments III or Sequoia) and Bhagyoday Investments Private Limited (or Hero) and acquisition of “Faces” brand, the Law Firm said in a press statement.

Manish Lifestyle is engaged in the business of owning and operating the online marketplace ‘www.purplle.com’ and providing platform services for the sale and purchase of branded products in the beauty and personal care category.

HealthQuad is backed by sponsors of Quadria Capital, a healthcare-focused private equity fund in Asia, and KOIS, an impact investment firm. HealthQuad Fund I, the predecessor fund, has successfully deployed Rs 2.55 billion in seven high growth potential companies.

HealthQuad has invested in health-tech companies such as Medikabazaar (digital platform for medical supplies and consumables), THB (clinical data aggregation and intelligence platform), HealthifyMe (digital wellness company) and Impactguru (integrated healthcare financing platform).

The total transaction value of the HealthQuad deal if USD 25 Million.

The DSK core team representing Aytas Capital B.V. for the transaction comprised of Harvinder Singh, Partner: Shubhi Ameriya, Senior Associate; and Arpita Nandi, Associate.

HealthQuad was represented by Khaitan & Co.

The team representing DSK Legal in the Faces deal comprised of Aninda Pal, Partner; Sunayana Bose, Principal Associate; Soumya Bhargava, Senior Associate; and Archit Gupta, Associate, the Law Firm said.

Indus Law acted as the legal counsels for Faces Cosmetics India Private Limited and Sequoia and Hero’s internal team assisted Hero, it said.