Spark Capital is pleased to announce the successful closure of a USD 100 Mn equity round in Five Star Business Finance Limited (“Five Star” or the “Company”), through a combination of primary issuance and secondary sale of shares to TPG Capital Asia and existing investors Norwest Venture Partners, a fund managed by Morgan Stanley, and Sequoia Capital. The large equity raise, which is the fifth round of external equity infusion into the Company, is reassertion of the quality of business execution at Five Star and the inherent scalability and profitability potential of the business model.

Spark Capital acted as exclusive financial advisor to the Company for the transaction.

With this deal, Spark Capital continues to maintain its leadership position in the BFSI space having consummated 31 transactions aggregating to ~USD 1.8 Bn in value across various BFSI sub-segments.

D. Lakshmipathy, Chairman and Managing Director, Five Star remarked, “In TPG we’ve found a partner that is fundamentally aligned with our mission to empower India’s under-banked segment. The firm has a long track record of partnering with financial services companies like us that are providing risk-focused, market-specific tools to help businesses grow.”

We are proud to be a part of two successive equity raises at Five Star and wish them the very best in the years to come