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  • About Track Deal
  • Private Equity/Venture Capital Deals: June 2025
  • founders agreement
    PE VC Essentials

    The Art of Drafting Founders Agreements: Aligning Vision, Equity, and Control

    July 10, 2025 - By Nakshatra Gujrati

    In this article, I’ll walk you through the key clauses every ideal Founders Agreement should include. For reference, you can…

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  • Lafufu
    Growth Catalyst

    Mind Behind Labubu/Lafufu: How Pop Mart Built—and Risks—Its Collectible Empire

    July 5, 2025 - By Nakshatra Gujrati

    Pop Mart’s heavy reliance on its Labubu blind‑box model offers a high‑velocity consumer brand fueled by Gen Z demand—but risks abound. Trend…

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  • convertible note
    PE VC Essentials

    PE/VC Essentials: Understanding Convertible Notes in India

    July 3, 2025 - By Nakshatra Gujrati

    If you're a startup in its early stages and grappling with valuation uncertainties, issuing Convertible Notes can be a smart…

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  • private equity
    Deal Corner

    Private Equity/Venture Capital Deals: May 2025

    July 2, 2025 - By Nakshatra Gujrati

    The diversity seen in May’s deal activity highlights a balanced investor strategy: long-term infrastructure and capital-intensive projects on one hand,…

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  • PE VC Essentials

    PE/VC Essentials: Understanding a Shareholders’ Agreement

    June 30, 2025 - By Nakshatra Gujrati

    In India’s private equity (PE) landscape, investors typically acquire minority stakes in promoter-led, unlisted companies. This limited equity exposure compels…

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  • share subscription agreement
    PE VC Essentials

    PE VC Essentials: Understanding a Share Subscription Agreement

    June 30, 2025 - By Nakshatra Gujrati

    In PE/VC investing, the term sheet signals interest, but it’s the Share Subscription Agreement (SSA) that crystallizes a transaction. The…

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  • termsheet
    PE VC Essentials

    PE/VC Essentials: Key Terms in a Termsheet

    June 30, 2025 - By Nakshatra Gujrati

    In the realm of PE VC transactions, the termsheet and the definitive agreements are foundational. A termsheet (“See IVCA Model…

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  • private equity deals in june 2025
    Deal Corner

    Private Equity/Venture Capital Deals: June 2025

    June 30, 2025 - By Nakshatra Gujrati

    The June activity reflects a more mature and calculated investment approach. Investors are showing a clear tilt toward control deals,…

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TrackDeal

🟢 Latest PE/VC Deal

Company: Vecmocon Technologies
Amount: $18 Million
Lead Investor: EIF
Sector: EV Components
Date: June 29, 2025
View All Deals →

Quiz Time

Test Your Knowledge: Investor Rights in PE Deals

1. Which document must reflect investor rights for them to be enforceable in Indian law?



2. What right allows investors to sell their stake if promoters sell theirs?



3. Which clause protects investors from share dilution?



4. What case established the requirement that share transfer restrictions be included in the AoA?



Investment Deck

🚀 Deal Deck by TrackDeal

🏠 Fintech NBFCs Raise $150M
Elevation, Bertelsmann
Lending – $150 Mn
🏥 Manipal Eyes Sahyadri
Manipal Health
Hospitals – $800 Mn
💊 Torrent to Buy Cipla Stake
Torrent, KKR
Pharma – $3 Bn
🛒 Udaan Raises $114M
M&G, Lightspeed
Ecommerce – $114 Mn
💰 Stable Money Raises $20M
Fundamentum, RTP
WealthTech – $20 Mn
See All Deals →

Key Terms under a Termsheet

🔑 Key Terms in a PE/VC Term Sheet

Includes investment amount, % stake on a fully diluted basis, and ESOP allocation. Must align with FEMA pricing norms and Section 62 of the Companies Act.

Events that must occur before closing (e.g., board approvals, IP assignments). Non-fulfilment can void the deal.

Investors typically nominate directors. Nominee directors owe fiduciary duties under Indian company law.

Matters requiring investor consent (e.g., raising capital, changing bylaws). Must be mirrored in the AoA to be enforceable.

Includes IPO, buy-back, third-party sale, and put options. These must comply with SEBI, Companies Act, and RBI guidelines.

Safeguards against down rounds. Must be reflected in SHA and AoA to be enforceable.

Usually binding even when the term sheet is non-binding. Courts have upheld their enforceability (e.g., Welspun v. Brilliant).

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