By LE Staff
New Delhi, June 3, 2021: L&L Partners has advised L Catterton (LCT), the world’s largest global consumer-focused private equity firm, in its recent round of investment in Zenyum Pte. Ltd. (Zenyum), one of Asia’s fastest-growing direct-to-consumer dental products brands.
The present investment was undertaken in the form of primary issuance of preference shares as part of the Series B funding round undertaken by Zenyum, according to a statement issued by L&L Partners.
The investment was undertaken by LCT and the existing investors including Sequoia Capital, RTP Global, SEEDS Capital, Febe Ventures, Partech, Tekton and TNB also participated in this round, amounting to a total investment of approximately USD 40 million, with LCT’s share of investment amounting to around USD 25 million.
The Law Firm acted as legal counsel to LCT and was involved in conducting due diligence on Zenyum and its subsidiaries in Asian countries, drafting, negotiating and finalizing the transaction documents, including the share subscription agreement and the shareholders’ agreement and also coordinating with and advising the client on various aspects of the deal.
L&L Partners’ team comprised of Partner Navin Syiem, Managing Associate Nitin Gera, Senior Associate Shruti Barua and Associate Sameer Deval.
LCT is the world’s largest global consumer-focused private equity firm with over USD 27 billion of equity capital across its fund strategies and 17 offices around the world. LCT has about 200 investment and operating professional partners with management teams around the world.
Zenyum is a start-up engaged in smile cosmetics and has channeled tech and innovation to evolve the dental category and create products used across Asia. Zenyum was founded in 2018 and has partnered with hundreds of dentists to provide 3D-printed invisible braces across seven markets in Asia.
“The investment is critical for Zenyum as there are over 300 million customers in Zenyum’s core markets which are Southeast Asia, Hong Kong, Taiwan who have increased disposable income for beauty and the spend on invisible braces is expected to grow significantly. The investment will help Zenyum to accelerate its expansion across Asia and deepen its range of products while developing its technology stack,” the statement said.