L&L Partners advised existing investor Sequoia Capital when it participated in a US$90 million series C funding round in e-sports and mobile gaming platform Mobile Premier League (MPL).
The round was led by SIG and RTP Global, along with MDI Ventures and Pegasus Tech Ventures. The deal closed on 15 September. Cooley advised MPL, while Allen & Gledhill advised SIG.
L&L Partners, which used a cross-functional team of lawyers, told India Business Law Journal that both Sequoia Capital and SIG Global relied on its due diligence report, and that it also advised on “various risk mitigation measures surrounding the transaction … primarily to mitigate risks from a gaming law point of view”.
L&L Partners’ team comprised partners Sundeep Dudeja, Vaibhav Kakkar and Snigdhaneel Sathpathy, senior associate Rishabh Shah and associate Ritvika Thakur (transaction); partners Arjun Rajgopal and Snigdhaneel Sathpathy, managing associate Akshaya Iyer, senior associate Rishabh Shah and associates Abhilasha Gupta, Aparajita Singh, Himanshu Pabreja and Sanchita Kumari (due diligence); and partner Gayatri Roy, and associates Shivangi Narang, Arpita Sengupta and Tulika Pandey (IP).
Cooley’s team was led by its Singapore-based partner, Ferish Patel.
MPL, an e-sports platform operated by Bengaluru-based Galactus Funware Technology, has raised an estimated US$130 million since it was founded in 2018.