Trilegal advised the Neo Secondaries Fund on its primary and secondary investment in Baldor Technologies (IDfy), as Neo Asset Management led a INR 476 crore funding round through its flagship private equity vehicle to support IDfy’s growth plans.
Trilegal advised the Neo Secondaries Fund on its primary and secondary investment in Baldor Technologies (IDfy).
The deal forms part of a major INR 476 crore funding round led by Neo Asset Management through its flagship private equity vehicle, the Neo Secondaries Fund.
The investment marks a significant milestone for IDfy, a fast-growing Indian technology company that provides identity verification, authentication, risk and compliance, and consent governance solutions.
IDfy works with a wide range of clients, including banks, NBFCs, consumer companies, and enterprises across several sectors and jurisdictions.
According to the firm, this funding round will help IDfy accelerate its scale, strengthen its product capabilities, and expand into newer markets as demand for secure digital verification continues to rise across India’s financial and consumer ecosystems.
The transaction was handled by Trilegal’s Corporate Team led by Partner Kunal Chandra. He was supported by Senior Associates Aditya Nandakumar and Kunal Paleja, along with Associates Sharnam V. and Nipun Chandrakar.
The Competition Team advising on the regulatory aspects was led by Partner Gautam Chawla, with Senior Associate Shruthi Rao and Associate Shambhavi Sirothia contributing to the matter.
This investment demonstrates growing investor confidence in India’s digital identity and compliance technology space, where companies like IDfy are enabling secure onboarding and governance infrastructure for businesses and institutions nationwide.