360 ONE Private Equity Fund - Approval from the Competition Commission of India for its investment in Neysa Networks Private Limited

Khaitan & Co advised and assisted 360 ONE Pvt Equity Fund (investing through its various schemes and acting through its investment manager, 360 ONE Alternates Asset Management Ltd) (collectively, “360 ONE”) in securing an unconditional approval from the Competition Commission of India (“CCI”) for its minority investment in Neysa Networks Pvt Ltd (“Neysa”). The investment forms part of a larger funding round led by affiliates of Blackstone, along with participation from other investors. 

Neysa is an India-based artificial intelligence (“AI”)-focused cloud infrastructure and managed services provider that enables enterprises and developers to train, deploy, and scale AI models on a unified cloud platform.

The transaction involved CCI’s first detailed assessment of the market for the provision of cloud AI services in India, a rapidly evolving market at the intersection of cloud computing and AI infrastructure.