10 Apr 2026
Deal: Trilegal advised Neo Secondaries Fund on its primary and secondary investment in Baldor Technologies (IDfy)
17 Mar 2026
17 Mar 2026
IDfy is an Indian technology company engaged in identity verification and authentication, risk and compliance, and consent governance and management solutions, serving banks, non-banking financial companies, consumer companies and enterprises across multiple sectors and jurisdictions.
Neo Asset Management — India’s fastest-growing alternative asset management platform — led the INR 476 crore funding round through its flagship Private Equity Fund, Neo Secondaries Fund (NSF). The round saw participation from existing investors including Blume Ventures, Analog Capital, Elev8, IndiaMART, and Kae Capital. The proceeds are expected to support IDfy’s continued growth and expansion, particularly in the context of India’s evolving regulatory landscape, including the Digital Personal Data Protection Act, 2023.
The transaction underscores sustained investor confidence in India’s fast-growing regulatory technology and digital trust ecosystem. Positioned at the intersection of compliance, data privacy, and technology, IDfy is well positioned to capitalise on the increasing regulatory emphasis on identity verification and data protection.
The Trilegal Corporate Team advising on the matter was led by Partner: Kunal Chandra; and supported by Senior Associates: Aditya Nandakumar and Kunal Paleja; and Associates: Sharnam Vaswani and Nipun Chandrakar.
The Trilegal Competition Team advising on the matter was led by Partner: Gautam Chawla; supported by Senior Associate: Shruthi Narayan Rao; and Associate: Shambhavi Sirothia.
About Trilegal
Trilegal is a leading full-service law firm in India with over 25 years of experience, trusted for its in-depth expertise and client-centric approach. The firm advises a diverse set of clients, including Fortune 500 companies, global investment funds, major Indian conglomerates, domestic and international banks, technology and media giants, family offices, and high-net-worth individuals. With over 150 partners operating under a distinctive lockstep model, Trilegal is the largest equity partnership in the country. The firm retains over 1,200 professionals across its Mumbai, Delhi, Gurugram, Bengaluru, Chennai, Pune, and GIFT City offices.
Trilegal has consistently been recognised among India’s top-tier firms in leading legal directories such as Chambers & Partners (Asia Pacific and Global), Legal 500 Asia Pacific, and Benchmark Litigation. It has also earned several prestigious accolades, including being named Best Overall Law Firm by India Business Law Journal (IBLJ) 2025, Innovative Lawyers in Disputes & Crisis Management by the Financial Times (FT) Innovative Lawyers Asia-Pacific Awards in 2025, M&A Firm of the Year by IFLR Asia-Pacific in 2024, Law Firm of the Year by Deal Volume at the VCCircle Awards in 2024.
For more information, please get in touch with Prakruti Jani | Mob: +91-9867868976 | BD@trilegal.com.
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