Alpha Wave Ventures II, LP
CCI competition order · 23 Jun 2026
Summary
Check the official recordWhat changed
The Competition Commission of India has received a notice regarding the proposed acquisition of shareholding in Nxtra Data Limited by Alpha Wave Ventures II, LP. The transaction involves a primary subscription of equity shares in the target company, which provides data center colocation services in India. The acquirer, a private equity fund, intends to make a financial investment, while the target aims to raise capital for business operations. The parties have identified relevant vertical markets concerning commercial real estate development and data center colocation services in India and Mumbai. The parties assert that the proposed transaction does not pose a risk of an appreciable adverse effect on competition in India.
What you must do
- The parties are required to submit a summary of the combination under Regulation 13(2) of the Competition Commission of India (Combinations) Regulations, 2024.
Who is affected
Document text
SUMMARY UNDER REGULATION 13(2) OF THE COMPETITION COMMISSION OF INDIA (COMBINATIONS) REGULATIONS, 2024
(a) Names of the parties to the combination
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The parties to the combination are – (i) Alpha Wave Ventures II, LP (AWV II / Acquirer); and (ii) Nxtra Data Limited (Nxtra / Target).
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The Acquirer and Target are collectively referred to as the Parties.
(b) Nature and purpose of the combination
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The Proposed Transaction pertains to the acquisition of certain shareholding in the Target by the Acquirer by way of a primary subscription of equity shares of the Target (Proposed Transaction).
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The Proposed Transaction represents an investment opportunity for the Acquirer to generate financial gains. The Target seeks to raise capital to fund its business operations.
(c) Products, services and business(es) of the parties to the combination
Acquirer
- The Acquirer is a private equity fund managed by Alpha Wave Ventures GP, a joint venture between Alpha Wave Global, and Lunate Holding RSC Ltd.
Target
- The Target is engaged in the business of provision of data center colocation services in India.
(d) The respective markets in which the parties to the combination operate
- The Parties have defined the following relevant markets on account of limited potential vertical relationships:
- Broad Relevant Vertical Market: Upstream market for the development of commercial real estate in India, and the downstream market for provision of data center colocation services in India; and
- Narrow Relevant Market Vertical Market: Upstream market for the development of commercial real estate in Mumbai, and the downstream market for the provision of data center colocation services in Mumbai.
- However, the Proposed Transaction does not raise any risk of appreciable adverse effect on competition in India.
Source details
- Source
- Competition Commission of India
- Type
- competition order
- Published by source
- 23 Jun 2026
- Issuing division
- Competition Commission of India
- Coverage area
- competition-law