Courtesy photo

Gunderson Dettmer Stough Villeneuve Franklin & Hachigian has had the lead role advising on Indian e-commerce company Flipkart Ltd.’s most recent $2.5 billion funding from SoftBank Group Corp.’s Vision Fund. The deal was the largest ever private investment in an Indian technology company.

In the deal announced Thursday, SoftBank Vision Fund agreed to invest directly in Flipkart, India’s biggest online store, and to buy interests from the Indian company’s current shareholders, including New York-based hedge fund Tiger Global Management and Flipkart co-founders Sachin and Binny Bansal.

The Japanese tech giant’s investment followed a previous $1.4 billion round from Tencent Holdings Ltd., eBay Inc. and Microsoft Corp. in Flipkart, which is considered India’s answer to Amazon. The deals would now give the Bengaluru-based online marketplace more than $4 billion in cash. (Bengaluru was formerly known as Bangalore.)

SoftBank’s investment also came weeks after its attempt to broker a merger between its own portfolio company Snapdeal and Flipkart. Snapdeal called off negotiations on what could have been a $950 million merger in July due to a disagreement among shareholders.

Indian firm AZB & Partners Delhi partners Ajay Bahl and Vinati Kastia led the team advising SoftBank Vision Fund, which chief executive Masayoshi Son said in May had raised $93 billion in first close from investors that included Apple Inc., Foxconn Technology Group, Abu Dhabi-based state-owned fund Mubadala Development Co. and Saudi Arabia’s sovereign wealth fund.

Gunderson Dettmer teamed up with Indian firm Khaitan & Co Bengaluru partner Ganesh Prasad representing Flipkart.

Earlier this month, Gunderson also acted for the Indian startup on the $1.4 billion round by Tencent, eBay and Microsoft; the team included partners Steven Baglio, Hozefa Botee, Ward Breeze and David Sharrow in New York, Jonathan Pentzien and Ferish Patel in Singapore and Andrew Luh in Redwood City. The Silicon Valley-based venture capital specialist firm opened its second Asian base in Singapore last year with ex-Davis Polk & Wardwell duo Patel and Pentzien.

Anna Zhang is based in Hong Kong, where she writes about the business of law and legal issues in Asia and Australia. Contact her at  azhang@alm.com . On Twitter: @annazhangc.