IndusLaw and Stratage Law Partners advised parties involved in Filter Capital’s investment in Mynd Solutions, which operates M1xchange, a leading trade receivables electronic discounting system (TReDS) platform that enables invoicing for MSMEs, for an undisclosed amount.
The investment was made through a secondary share purchase from existing investor Mayfield India, a venture capital fund.
Partner Rashi Saraf led the IndusLaw team, acting for Filter Capital. Principal associate Rohit Jain, senior associate Spandan Saxena and associate Tarun Pydah assisted the team. The due diligence and corporate secretarial teams also provided support.
Stratage Law Partners counselled all the other parties involved in the transaction.
Filter Capital is a Mumbai-based growth investment firm that partners with Indian technology entrepreneurs to scale their businesses from inflexion points to industry leadership.
Founded in 2002, the Mynd group is a leading Indian business conglomerate with several busness lines including M1NXT, Mynd Integrated Solutions and Mynd Fintech. The group specialises in business automation solutions for finance and accounting, HR outsourcing and digital supply chain financing with a pan-India presence.
Mayfield India has been investing in the country since 2006 and manages USD219 million in assets. It is investing from Mayfield India II, its second dedicated India-focused fund, with USD108 million in capital.
