Khaitan & Co advised Peak XV Partners and Sofina on their investment in FirstClub’s Series B funding round, alongside Accel, RTP Global and Paramark Ventures. FirstClub operates across wholesale trading, logistics, warehousing, last-mile delivery, IT support and related business services.
Khaitan & Co, India’s leading law firm, acted for Peak XV Partners and Sofina in connection with their investment in the Series B funding round of FirstClub Technology Private Limited (“FirstClub”).
Existing investors Accel, RTP Global, and Paramark Ventures also participated in the round.
FirstClub is a private company involved in wholesale trading activities, including the sale of goods and merchandise and the licensing of intellectual property owned by the company. It further provides packaging, warehousing, logistics, last-mile delivery, IT support, consulting, and other related services.
In parallel, FirstClub also operates in the consumer space through FC Café, where it manufactures and sells items such as juices, gut shots, and oat bowls.
The investment highlights ongoing investor confidence in India’s rapidly developing consumer, logistics, and quick commerce landscape particularly the growing appeal of integrated platforms that combine supply chain capabilities with retail functions.
The Firm’s 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 Khaitan & Co core transaction team was led by Bharat Anand (Senior Partner) and Nidhi Killawala (Partner), with support from Ayushi Mishra (Counsel), Sakshi Garg (Associate), and Anannya Wal (Associate).
On the due diligence side, the Firm was supported by Nirupam Lodha (Partner), Shivangi Narang (Principal Associate), and Palak Dwivedi (Associate) (who advised on intellectual property matters), Abhinav Rastogi (Partner) (employment matters), and Pranjal Prateek (Partner) and Armaan Gupta (Principal Associate) (competition law aspects).