In what's prone to web a flurry of Indian tech listings in the United States, two leading Indian mission capitalists have come collectively to commence a definite aim acquisition company (SPAC).
Judge Elevation Capital, a newly formed entity, launched by Elevation Capital’s Ravi Adusumalli and Judge Investments’ Shashin Shah, has filed for a $225 million IPO with the SEC, as per filings from March 19.
The SPAC also has leading participants from the Indian startup ecosystem on its board, including the likes of Paytm's Vijay Shekhar Sharma, outdated WhatsApp global swap head Neeraj Arora, outdated SoftBank executive Kabir Misra, and Dream11 founder Harsh Jain.
Whereas Adusumalli and Shah will be co-CEOs, Tom Glaser will seemingly be the Chief Monetary Officer, and Vivek Mathur, the Chief Running Officer. They'll be supported by the Judge Investments and Elevation Capital global investment groups, the filing said.
“Judge Elevation Capital Inform Alternatives is a newly integrated clean take a look at company integrated as a Cayman Islands exempted company for the aim of effecting a merger, half swap, asset acquisition, half defend shut, reorganization or the same swap aggregate with one or extra agencies, which we refer to as our initial swap aggregate,” the company said in the filing.
“Our essential focal level will be on the Indian skills ecosystem. The Indian skills sector is a large and increasing market that we imagine will provide fine aim alternatives for us. We imagine our administration’s, board of directors’ and sponsor’s trip and computer screen myth of investing in Indian skills companies mark us very well placed to take earnings of this chance," the filing says.
Judge Investments and Elevation Capital have combined inner most investments of $1.3 billion across 104 companies as of December 31, 2020. Of those companies, nine have change into unicorns.
Adusumalli is one of the major leading VCs of the Indian startup world, with Elevation Capital (is understood as Saif Partners earlier) backing the likes of Paytm, Swiggy, FirstCry, MakeMyTrip, Unacademy and a entire lot of leading international companies in the nation.
Judge Investments depends mostly in San Francisco, USA, with native presence in Mumbai, India and Singapore. Since winding up its first investment in 2013, Judge Investment’s portfolio in India reflects approximately $1 billion of investments as of February 28, 2021, including early-stage investments in Dream11, PharmEasy and Chaayos; enhance capital investments in the Nationwide Inventory Substitute of India Ltd and Experian PLC; and public investments in Bajaj Finance Ltd., Laurus Labs Restricted and Radico Khaitan Ltd.