Triumvir Law: Advises WLDD Fundraise India for Digital Marketing Firm

• WLDD Private Limited, established in 2018, secured new funding from Adfactors PR Private Limited and Vikas Khemani (Founder and CIO of Carnelian Asset Management & Advisors).
• The investment combined a primary subscription of compulsorily convertible preference shares with a secondary sale of equity shares.
• Triumvir Law advised WLDD, while Trilegal, Badaya Law Partners, Argus Partners, and Anand and Anand & Khimani (formerly Khimani & Associates) advised various investors.
• WLDD specializes in social media brand enhancement through meme marketing, short-form video content, and influencer collaborations.
• The deal highlights the complex legal and financial structures prevalent in India's venture capital ecosystem.

The transaction involved a dual approach to capital infusion, combining a primary subscription of compulsorily convertible preference shares with a secondary sale of equity shares.

WLDD Private Limited, a company founded in 2018 by Arihant Jain, Jaidev Kesti, and Vivekanand Kilari, has successfully completed a fundraise, attracting investment from Adfactors PR Private Limited and Vikas Khemani (Founder and CIO of Carnelian Asset Management & Advisors). The transaction involved a dual approach to capital infusion, combining a primary subscription of compulsorily convertible preference shares with a secondary sale of equity shares. This structure allowed for both new capital injection into the company and liquidity for existing shareholders.

WLDD specializes in enhancing brand presence across social media platforms, leveraging innovative strategies such as meme marketing, the creation of short-form video content, and strategic collaborations with influencers. This funding round is poised to support the company's continued growth and expansion within the dynamic digital marketing landscape, reinforcing its position in a competitive market.

The involvement of both new and existing investors, facilitated by a complex share structure, underscores the evolving nature of venture capital transactions in India. The hybrid investment model, incorporating both primary and secondary components, provides flexibility for both the company seeking capital and the investors involved, catering to various strategic objectives.

The intricate fundraise for WLDD Private Limited saw a significant deployment of legal expertise across multiple firms. Triumvir Law played a pivotal role as the legal advisor to WLDD throughout the entire process. Their comprehensive mandate included reviewing the term sheet, meticulously drafting and negotiating all transaction documents, and overseeing the deal through to its successful closing.

The Triumvir Law team advising WLDD was led by Managing Partner Anubhab Sarkar and Partner Ajay Kumar. They were supported by Senior Associate Ragini Chakraborty, along with Associates Arjun Krishnan and Sakshi Singhania, demonstrating a robust team effort in navigating the complexities of the `WLDD private equity transaction`. This extensive legal involvement highlights the detailed scrutiny and negotiation required in such venture capital deals.

Further demonstrating the active `India venture capital legal advisors` landscape, Trilegal provided counsel to the incoming investor Adfactors PR. Simultaneously, Badaya Law Partners advised Vikas Khemani (Founder and CIO of Carnelian Asset Management & Advisors), another key incoming investor, on their participation in the fundraise. Existing investor Negen Capital also sought legal guidance from Argus Partners, while Anand and Anand & Khimani (formerly Khimani & Associates) represented certain other existing investors in WLDD, ensuring all parties' interests were meticulously addressed.

This fundraise by WLDD Private Limited is particularly noteworthy for its hybrid investment structure, which included both a primary subscription of `compulsorily convertible preference shares India` and a secondary sale of equity shares. The use of compulsorily convertible preference shares (CCPS) is a common and strategic instrument in Indian venture capital, offering investors a preferred return and conversion rights into equity, while providing the company with capital without immediate dilution of common equity. The secondary sale component, on the other hand, allows early investors or founders to achieve partial exits or liquidity, which is crucial for a maturing startup ecosystem.

The involvement of multiple legal firms, including Triumvir Law, Trilegal for the `Trilegal Adfactors PR deal`, Badaya Law Partners for the `Badaya Law Partners VK Group funding`, and Argus Partners for `Argus Partners Negen Capital WLDD`, underscores the increasing sophistication and legal diligence required in India's burgeoning tech and media startup funding environment. Such transactions provide valuable intelligence for firms tracking competitor activity or seeking counsel on similar venture capital deals, showcasing the depth of legal expertise available to facilitate complex financial arrangements in the country.

This deal showcases active legal advisors and investor groups in India's evolving tech and media startup funding ecosystem, providing intelligence for firms tracking competitor activity or seeking counsel on similar venture capital transactions involving complex share structures.

Source: Original reporting via Bar & Bench