Spark Capital (“Spark”) acted as the exclusive financial advisor to the transaction.
Spark is pleased to announce that Sequoia Capital (“Sequoia”) has signed definitive agreements for sale of their stake in India Shelter Finance Company (“ISFC”) to a vehicle of Westbridge Capital. Part of the transaction is subject to regulatory approvals.
ISFC is an affordable housing finance company with a fully retail, secured book catering largely to self-employed customers. Sequoia was the first institutional investor in ISFC ~10 years back and has supported the company through follow-on investments across three additional rounds of fund raises. The transaction re-affirms investor’s conviction in ISFC’s superior execution capabilities and unique positioning in the significantly underpenetrated affordable housing finance market.
With this transaction, Spark has successfully completed its 7th transaction in the affordable housing finance space with a total transaction value of ~USD 600 Mn.
Spark also continues to maintain its leadership in the BFSI space having consummated 45 transactions aggregating to ~USD 3 Bn. In the last 12 months, Spark has completed 5 transactions in the BFSI space aggregating to ~USD 300 Mn.
Recent deal closures (last 3 years) include 4 transactions in the Fintech space, 4 in Housing finance, 4 in Microfinance, 2 in MSME finance and 1 in Vehicle finance.