Investec advised Leapfrog on its USD 250 million investment into CarDekho
About the deal
Investec acted as an Advisor through the multi-faceted USD 250 million investment by LeapFrog investments into CarDekho. Alongside other tier-1 VC firms, Leapfrog Investments led CarDekho’s pre-IPO round bringing them to unicorn status. The funding round included USD 200 million in Series E equity and an additional USD 50 million in debt.
About Cardekho
CarDekho, Jaipur’s first unicorn, is India’s largest car search platform with a staggering 86% of Indian purchasers visiting the website during the car buying process. Working with nearly all major auto manufacturers and over 7,500 dealerships, CarDekho accounts for up to 30% of annual sales for strategic partners and facilitates financing and insurance for used car buyers and sellers through collaborations with financial institutions and insurance companies.
What we did
Investec advised Leopfrog throughout the investment process, with:
- assist Leapfrog in conducting management discussions;
- review collaterals provided by CarDekho;
- provide strategic inputs in various businesses of CarDekho, including used car finance and insurance. co-ordinating with other advisors on the transaction to ensure smooth execution of the process;
assist in understanding the industry dynamics and the landscape of competitors overall;
- assist in preparation of the IC note, in ascertaining the valuation and mapping out and exit scenario for LeapFrog;
- co-ordination of all relevant approvals of the transaction and in closure of definitive documents.
