Khaitan & Co advised Peak XV and Sofina in relation to investment in series B round of Firstclub Technology Private Limited (“Firstclub”). Existing investors, Accel, RTP Global and Paramark Ventures also participated in this round.
Firstclub is a private company engaged in the business of wholesale trading including sale of goods and/or merchandise and licensing of the intellectual property owned by Firstclub along with providing packaging, warehousing, logistics, last-mile delivery, IT support, consulting and other ancillary services. Firstclub is also engaged in manufacturing and sale of juices, gut shots and oat bowls through FC Café.
The Firm role included:
a) conducting due diligence exercise on Firstclub;
b) reviewing and negotiating the transaction documents; and
c) execution and closing related aspects of the transaction which, inter alia, included the review of documents in relation to the conditions precedent and closing, as well as tracking the completion of the conditions precedent.
The deal was assisted by:
Intellectual Property: Nirupam Lodha (Partner), Shivangi Narang (Principal Associate) and Palak Dwivedi (Associate)
Employment Labour & Benefits: Abhinav Rastogi (Partner)
Competition / Antitrust: Pranjal Prateek (Partner) and Armaan Gupta (Principal Associate)
The core transaction team comprised of Bharat Anand (Senior Partner), Nidhi Killawala (Partner), Ayushi Mishra (Counsel), Sakshi Garg (Associate) and Anannya Wal (Associate).