Hemant is a Partner in the firm’s Technology and Corporate M&A practice group based in Bengaluru.
He advises an array of core-technology and technology-adjacent businesses on e-commerce, fintech, artificial intelligence (AI), data privacy, virtual digital assets, and SaaS and a wide spectrum of corporate and technology transactions and advisory matters.
Technology Transactions: He frequently advises on technology transactions such as technology-focused M&A, private equity and venture capital investments, technical collaborations, strategic alliances, software development contracts, API Integration agreements, technology outsourcing arrangements, “as-a-service” agreements, assignment and licensing contracts.
Technology and Fintech Advisory: His advisory practice covers matters related to fintech regulation, e-commerce regulation, data privacy, AI, cyber-security, virtual digital assets and blockchain.
Corporate Transactions: He has acted for buy-side and sell-side clients in early to late-stage fund-raising and investment transactions, mergers, and acquisitions. His transactional experience spans domestic and cross-border transactions involving listed as well as unlisted companies.
Select Experience Statement
Advisory
- Advising a top ecommerce marketplace entity and its innovation-affiliate on e-commerce, prepaid payment instruments, embedded finance, supply chain finance, rent payment models, UPI applications, and a variety of other technology-related business models.
- Advising a leading global provider of highly developed specialty chemicals on setting up a GCC in India using the build-operate-transfer (BOT) model.
- Acting for a leading ecommerce company in structuring and negotiating a quick commerce platform source code agreement.
- Advising a Brookfield Properties group company on setting up its online customer-engagement services platform, e-commerce, fintech, data protection and technology-related agreements.
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- Advising Ericsson on regulatory issues pertaining to the Foreign Contribution Regulation Act.
- Advising Casio on FDI, e-commerce, technology issues in relation to an online b2c store.
- Advising a leading Australian university on the review and negotiation of a data processing agreement in connection with a cross-border education-sector joint venture with Indian counterparties.
- Advising a leading international crypto prime broker on structuring a virtual digital asset-linked fund for the benefit of its employees including employees of its Indian affiliates.
- Advising a BigTech company, alongside Sullivan & Cromwell LLP, on the regulatory framework for developing generative AI models in India.
- Advising a global cloud service provider, alongside a Big-3 consulting firm, on compliance frameworks for an AI-powered voicebot under TRAI’s Telecom Commercial Communications Customer Preference Regulations, India’s DPDP Act, and legacy SPDI Rules.
- Advising on technology license agreements for a leading producer of sustainable energy transition materials with Chinese technology owners for the manufacture of cathode active materials, involving complex IP, non-compete, and cross-border commercialisation considerations.
- Product review of a SEBI-registered investment adviser operating a digital wealth platform, mapping the regulatory perimeter, licences and registrations, structural separation, and compliance operations across investment advisory, mutual fund distribution, and digital lending.
- Advising a Big-4 accounting firm on regulatory implications of using automated bots to scrape data from tax portals.
- Drafted an intellectual property licensing and assignment matters for an Indian payment gateway in connection with its acquisition of the Indian payments business of a European payments technology company, including structuring long-term technology and software licensing arrangements.
- Negotiating a licence agreement between the Indian subsidiary of a US-based AI-driven molecular diagnostics company and its parent entity, governing the terms of the technology and intellectual property licensing arrangement between the parties.
- Drafting the privacy policy, cookie policy, and terms of use for a leading coworking solutions provider operating across multiple countries, ensuring alignment with the Information Technology Act, 2000, its allied rules, and the entity’s platform and data-handling practices.
- Advising a South Korean technology company on the Indian regulatory framework applicable to a student-centric digital platform combining online classes, community features, a peer-to-peer marketplace, and integrated voice/SMS notifications, spanning intermediary liability, data protection, telecom, e-commerce, and advertising regulations.
- Drafting interlocking data processing agreements for a coworking solutions provider to govern the full processing lifecycle across client and vendor relationships, including controller-to-processor and processor-to-sub-processor frameworks aligned with the DPDP Act and the GDPR.
- Reviewing and advising a global financial technology company on a SaaS agreement with a leading enterprise software provider, including licensing, data processing, and information security controls.
- Advising an institutional digital asset brokerage on the regulatory framework for facilitating cross-border payments using virtual digital assets, including FIU-India registration triggers, fiat on-ramp/off-ramp partnerships, stablecoin-linked settlement rails, and FEMA considerations.
- Advising an institutional crypto liquidity provider on FIU-India registration and AML compliance obligations in connection with the distribution of governance tokens issued by a BVI entity into the Indian market.
- Advising on India aspects of the USD 100 million plus outsourcing of a part of its digital expertise and services vertical globally by the Ingka Group (that owns the ‘IKEA’ brand) to Infosys.
- Advising various clients on technology transfer, license, and collaboration agreements.
- Advising on the regulatory treatment of credit card reward points and loyalty programs.
- Advising a leading, global tax advisory firm on a robotic process automation solution.
- Advising several marquee clients on legal considerations in developing large language models (LLMs), formulating their AI strategy, and purchasing AI services.
- Conducting vendor due diligence for a pioneer in the Indian EV industry.
- Advising two large Japanese multinational conglomerates on a variety of matters involving FDI, e-commerce, prepaid payment instruments, AI and technology-related issues.
- Advising numerous MNCs on cybersecurity, data and information technology issues.
- Advised one of India’s fastest growing Web3 players on a range of issues involving the structuring and operation of a non-fungible-token (NFT) marketplace and a Web3 online game.
- Acting for Avatar Ventures on technology and regulatory aspects of its investment in an artificial intelligence solutions provider.
- Acting for Incubate Fund on technology and regulatory aspects of its investment in a trade financing and supply chain finance platform.
- Acting for Jungle Ventures on technology and regulatory aspects of its investment in a multilingual digital storytelling platform.
- Acting for BlueOrchard Finance Limited on technology and regulatory aspects of its investment in a digital MSME supply chain finance platform, in a round co-led by Tata Capital and BlueOrchard.
- Advising a leading American EV player known for its advanced powertrain technology on its technology collaboration and strategic alliance with one of the world’s largest manufacturers of two-wheelers based in India.
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Transactions
- Acting on the India leg of Cadence Design Systems, Inc.’s € 2.7 billion acquisition of Hexagon AB’s Design and Engineering (“D&E”) business.
- Advising Peak XV Partners Growth Investments IV on its investment in Stable-Alpha Technologies Private Limited as part of a USD 25 million fund raise.
- Acting for Accel and Elevation Capital on multiple late-stage investments in Spinny (Valuedrive Technologies Private Limited), an IPO-bound used-car marketplace.
- Acting for investors including Accel, Elevation Capital and Z47 (fka Matrix Partners) across multiple rounds of fundraise by Dezerv, an investment advisory and portfolio management platform.
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- Acting on an investment by Helios Investment Partners as part of a Series D fundraise by M2P Solutions of approximately USD 100 million.
- Acting for Vertex Growth and Trident India Growth on their investments into Spotdraft as part of a $54 million Series B fundraise.
- Acting for Jupiter Electric Mobility on the acquisition of technology and business assets of Log9 Materials Scientific Private Limited relating to its railway and electric truck battery divisions (on technology and regulatory aspects).
- Acting for Elevation Capital on its investment in Mahaveer Finance Limited, an NBFC engaged in used commercial and passenger vehicle lending.
- Acting for Accel on its investment in Unmannd Technologies Private Limited, a company developing drone platforms and autonomy solutions for logistics and security use cases.
- Acting for the Sellers on the Indian leg of the acquisition of 100% of LDRA, a provider of software tools for code analysis and software testing for safety-, mission‑, security- and business-critical markets by Tasking, a company headquartered in Germany.
- Acting for Manazed Technologies (“Lucidity”) and its Promoters on its Series B fundraise from Westbridge, Alphawave and other investors.
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A detailed experience statement can be shared on a confidential basis.
Professional Memberships
- Bar Council of Maharashtra and Goa
Education
- B.A. LL.B. (W.B. National University of Juridical Sciences)