JSA advised and assisted Avendus Future Leaders Fund II (Avendus FLF) in their investment into Veritas Finance Private Limited (Veritas), a non-banking financial company that serves the financing needs of micro, small and medium enterprises (MSME) sector in India.
The total investment in this round was to the tune of INR 1,200 Crores. The round was led by Multiples Private Equity, and Avendus FLF was the co-investor. The investment was made by Avendus FLF by way of primary and secondary investment. As part of the deal, partial exit was also provided to Veritas’s early investors – Lok Capital Growth Fund and British International Investment. The fresh capital infusion will help Veritas to enter new markets and strengthen its new product lines, including affordable housing loans. It will also provide them a significant runway for growth, deepening their existing offerings and further strengthening Veritas' position in the MSME financing space.
Veritas has more than 285 branches across 8 States and 1 union territory in India, with prime focus on the large and underserved MSME financing market across semi-urban and rural geographies.
The transaction team Comprised Lead Partner – Sidharrth Shankar, Partner – Prakriti Jaiswal, Senior Associate – Shivek Sharma, and Associate – Rishika Agarwal.