Recently, the spirit brand “Kaishan” announced that its Round A and Round A+ financing has been completed in the most recent 3 months. JunHe acted as financing legal counsel and perennial legal counsel for Kaishan Spirit, represented Kaishan Spirit and provided a series of legal services in the Round A and A+ financing project. Hill House Capital acted as Round A financing investor and Round A+ financing was led by Source Code Capital and was followed by Hill House Capital.
Kaishan Spirit was founded in Shanghai in 2018, and is a new Chinese style pioneer brand of spirit which integrates traditional handicraft and international brewing concepts. The original intention for founding Kaishan was to change the stereotype on how the younger generation treats top-end spirits and to build a spirit brand with a long-term value and a huge commercial space in a market with a trillion RNB capacity.
JunHe acted as legal counsel for Kaishan Spirit in the Round A and A+ financing and provided a series of legal services including pre-Round A restructure, deal structure designs of Round A and A+ financing, reviewing and modifying of whole-set deal documents, representing clients in the negotiations with investors and assisting in the finalization and delivery for the clients.
It was a complex project in many ways: 1) some restructure arrangements have been completed. Certain issues needed to be negotiated and discussed with the investors separately in order to safeguard Kaishan’s interests to the greatest extent. 2) the timetable was tough, the negotiation and finalization of the transaction structure and transaction documents had to be completed with investors within a short period. JunHe’s team were in discussion many times with investors over the design of the transaction plan, and finally completed the project successfully by applying rich experience gained in other same-type projects and through rigorous professionalism.
The leading partner for the project was Mr. WANG, Yi.