AZB & Partners advised Internet Fund V Pte. Ltd., a fund managed by Tiger Global Management in the acquisition of equity stake, in Clevertap, in a Series D fund raise round. As part of the transaction, CDPQ will be invest around $75 million and join CleverTap’s Board of Directors upon closure of this funding round. However, IIFL AMC’s investment is subject to approval from Securities and Exchange Board of India (SEBI).

The transaction was advised by Partners Ashwath Rau, Srinath Dasari and Nanditha Gopal along with Senior Associate Karishma Dugar.