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Lexygen Advises Basil Technology Partners As Lead Counsel On $700 Million Technology Fund

In a likely first-of-its-kind transaction in Asia, Lexygen advised Basil Technology Partners on the close of a bespoke $700 million fund which will be co-managed with Capital Square Partners

Lexygen Advises Basil Technology Partners As Lead Counsel On $700 Million Technology Fund

Outlook Start-Up Desk

POSTED ON February 25, 2023 1:15 PM

Lexygen has acted as lead legal counsel for Basil Technology Partners (BTP) in the close of CSP Fund II, a bespoke fund worth $700 million dedicated to technology services in Asia. The fund has raised commitments from Committed Advisors, HarbourVest Partners and TPG NewQuest. Co-managed with Capital Square Partners (CSP), CSP Fund II serves as a continuation fund for BTP's and CSP's prior assets, as well as raising primary capital of $250 million for new and follow-on investments, making it a unique and complex structure.

Lexygen's founder and managing partner, Vijay Sambamurthi and principal Codhai Raghavan, advised BTP on the deal. Lexygen acted as lead global counsel for BTP in the formation of the fund and the sale of Basil Technology Fund III's existing portfolio companies with offices around the world.

"Basil Technology Partners is a valued client of Lexygen's, who we have enjoyed a long-standing relationship with, having advised them on fundraising and multiple follow-on investments and portfolio exits over the past 6 years. We are delighted to have been able to assist BTP to realise this key strategic opportunity to co-create and co-manage a new and larger brand and fund in partnership with CSP, which is also a well-respected technology fund headquartered in the Asian region," said Vijay Sambamurthi.

Lexygen is a law firm headquartered in Bangalore, India, with international offices in Singapore to service clients on their multi-jurisdictional transactions. The firm is recognized as one of the leading Indian law firms by Chambers Asia Pacific, AsiaLaw Profiles, Legal500, and other ranking organizations. Lexygen specializes in private equity, venture capital, and family office fund formation and investments, private equity secondaries, mergers and acquisitions, joint ventures, technology regulations, corporate restructuring, infrastructure projects and public-private partnerships, and corporate-commercial advisory services.

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