Lakshmikumaran and Sridharan advised Ninety One Funding
Lakshmikumaran and Sridharan (LKS) advised bicycle brand Ninety One, owned and operated by AlphaVector India Pvt Ltd to recently close the Series A funding round led by A91 Partners LLP.
LKS represented the Company and the founders, including Mr. Sachin Chopra and Mr, Vishal Chopra, in drafting, reviewing, negotiation and finalisation of transaction documents for this round for both primary and secondary investment including assistance in closing.
The transaction team at LKS was led by L. Badri Narayanan, Executive Partner along with Gaurav Dayal, Partner, Bhusan Porwal, Senior Associate, Nayanika Majumdar, Senior Associate and Anmol Jain, Associate.
Speaking on the conclusion, Gaurav Dayal said, "The investment reflects the positive sentiment of the PE/VC investors globally towards for sustainable mobility, where they have invested heavily, more specifically in the last couple of years."
In the current round of funding, Lakshmikumaran and Sridharan (LKS) advised AlphaVector and its founders; Jyoti Sagar Associate advised A91 Partners; and Cyril Amarchand Mangaldas advised Fireside Ventures.
Alphavector has raised $30 million (INR 225 crore) in its Series A funding round from A91 Partners LLP, Fireside Ventures, Avaana Capital and Titan Capital. A91 Partners LLP invested INR 160 crore, while the balance INR 65 crore was invested by Fireside Ventures, Avaana Capital and Titan Capital together.