Big Ticket Investments Continue to Pour into India

Posted by Reading Time: < 1 minute

Jan. 15 – Intel capital and Clifford Chance the world's biggest law firm by revenue both announced investments into India. While Intel capital said they would be pumping in US$23 million into three unlisted firms, Clifford Chance announced a tie-up with AZB, one of the country's top law firms.

Investing money from its US$250 million India technology fund, the venture capital arm of the Santa Clara-based chipmaker Intel Corp said it will pour money into One97 Communications a telecom-managed value added services provider, an online marketplace and a vocational education institute Global Talent Track. According to the company Intel Capital has invested into 60 Indian companies till date.

As for Clifford Chance the firm will become AZB’s first choice for referring clients requiring specialist legal advice in India under the "best friends" alliance. In return, AZB will gain access to Clifford Chance's network of 30 offices worldwide.

Clifford Chance has signed this exclusive deal with AZB’s as under Indian law, foreign law firms are not allowed to practice in India. The companies hope to provide their present and future clients with the best international and Indian practices by combining their services.

Stuart Popham, senior partner at Clifford Chance, told Times Online: "It is an increasing challenge for both Indian and international clients seeking cross-border advice that they still have to look outside the country to access the requisite experience, resources and expertise.

"This arrangement will allow our two firms to offer the best possible service within the current regulatory restrictions."

Clifford Chance currently has 3,800 lawyers across 30 offices worldwide, while AZB has offices in Mumbai, New Delhi, Bangalore and Pune and acts for clients such as the Tata Group and Microsoft.