Private Equity

Angel Investments

Digital marketing agency LS Digital raises Rs.60-Cr from angels, Blacksoil; to acquire F1 Studioz

Economic Times  

LS Digital, an integrated digital marketing agency, has raised around INR 60 crore from a set of high-profile investors including former CEO of iGate Phaneesh Murthy, InCred founder Bhupinder Singh and IIFL Wealth founder Karan Bhagat. Amit Dalmia, Senior MD, Blackstone India; Sudhanshu Vats, Deputy Managing Director, Pidilite and Vasudev Jagannath, Head of Sales, IIFL Capital also participated in the equity fundraise. The fundraise is in equal parts equity and debt where the debt funding is provided by venture debt firm Blacksoil Capital. LS Digital will use the new funds to acquire Hyderabad-based UI/UX firm F1 Studioz and is in the process of raising another INR 250 crore for the combined entity. Florintree Advisors, an alternative investment fund set up by former Blackstone India co-head Mathew Cyriac holds a 35% stake in LS Digital and participated in the equity round.