Economic Laws Practice advised Cove and Lane Lifestyle Private Limited (Cove and Lane), a pre-revenue fashion venture engaged in retail of apparel and accessories under the brand ‘Cove & Lane’, and its founders in securing its series seed round funding, in which Sauce Consumer Venture Capital III, an early-stage consumer-focused venture capital fund, acquired a 15.38% stake, by investing approximately INR 4,00,00,000. ELP provided end-to-end support in connection with the transaction by negotiating and drafting the various definitive agreements that were executed in connection with the transaction.

The transaction involved intense negotiations on a range of critical issues, in particular, in relation to shareholder rights including events of default, exit options, share transfers, investor protection rights, governance mechanisms in connection with Cove and Lane, and other compliance matters and liability matters in connection with the investor’s investment in Cove and Lane.

The core transaction team comprised Partner Abhishek Sanyal, Associate Simran Yadav, Associate Partner Sukirti Singh and Principal Associate Smriti Tripathi advised the client on key operational matters and ancillary agreements.

Source: Economic Laws Practice