AZB & Partners Advises OTPP TVG on Neysa Networks Investment in Blackstone-Led USD 1.2 Bn Round
AZB & Partners advised Ontario Teachers’ Pension Plan’s Teachers’ Venture Growth fund (OTPP TVG) on its co-investment in Neysa Networks Private Limited, part of a landmark Blackstone-led USD 1.2 bn funding round. The mandate covered structuring, legal due diligence, and documentation for the transaction.
Introduction
Private equity funds affiliated with Blackstone and co-investors entered into definitive agreements to invest in Neysa Networks Private Limited (“Neysa”), enabling a USD 1.2 billion capital raise. Blackstone and co-investors provided equity capital of up to USD 600 million, on the basis of which Neysa intends to secure an additional USD 600 million of debt financing, subject to documentation.
Co-investors alongside Blackstone included Teachers’ Venture Growth, TVS Capital, 360 ONE Asset, and Nexus Venture Partners. Founded in 2023, Neysa employs 110 people across offices in Mumbai, Bengaluru, and Chennai.
Neysa is a fast-growing Artificial Intelligence acceleration cloud platform in India delivering mission-critical solutions to enterprises and government entities. This funding provides a material impetus to Neysa’s planned scale-up and deployment of over 20,000 GPUs in India.
Deal Value
The transaction enabled a total capital raise of USD 1.2 billion, comprising equity and debt components. The investment includes equity capital of up to USD 600 million from Blackstone and participating investors, with Neysa planning to secure an additional USD 600 million in debt financing, subject to documentation.
Legal Teams Involved
AZB & Partners acted for Ontario Teachers’ Pension Plan’s Teachers’ Venture Growth fund (OTPP TVG) on all aspects of its investment in Neysa Networks Private Limited, including structuring, legal due diligence, and documentation.
Deal team — AZB & Partners (for OTPP TVG):
- Nandish Vyas — Senior Partner
- Anish Patel — Senior Associate
- Vikrant Dwivedi — Associate
- Bharat V Budholia — Senior Partner (CCI aspects)
Talwar Thakore & Associates (TT&A) served as legal advisor to Neysa. Trilegal and Gibson & Dunn served as legal advisors to Blackstone.
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Disclaimer: This article is for informational purposes only and does not constitute legal advice. It is based on the details provided and publicly available sources.
