Press Release April 23, 2015

Goodwin Procter Advises DST Global and Falcon Edge on Investment in India’s Olacabs

Goodwin attorneys recently advised DST Global and Falcon Edge Capital in connection with their investments in Olacabs. Ola, a taxi calling app in India, raised more than USD$400 million in its latest round of financing according to a statement from the company. According to the company, the Series E funding was led by DST and included Falcon Edge Capital and GIC, as well as existing investors SoftBank Group, Tiger Global Management, Steadview Capital and Accel Partners, US.

DST Global, founded by Yuri Milner in 2009, backs private, technology companies around the world. The company has invested in companies such as Facebook, Twitter, Alibaba Group, Xiaomi,, Spotify and AirBnB.

Founded in 2012, Falcon Edge Capital is a private fund manager with offices in New York and London.

Olacabs operates a web and app-based taxi aggregator service in India. Launched in 2011, the company is based in Mumbai with offices in Bangalore and Delhi. Olacabs is owned by parent company ANI Technologies Pvt Ltd.

The Goodwin team advising DST and Falcon Edge was led by Yash Rana and included Jamie Hutchinson, Brinda Dutta, Abhishek Krishnan and Ananth Lakshman (corporate), Bill Weiss and Alex Plaum (tax), Rich Matheny (FCPA), and Paul Verbesey, Roy Smith and Steve Keller (fund formation).