Lawyer Monthly - June 2022

Acted as Legal Adviser to Energy Impact Partners Acted as Legal Adviser to Fasanara Capital Acted as Legal Adviser to SevenVentures Other advisers on the transaction Lawyer Monthly Transaction Reports - Funds & Investments 116 WWW.LAWYER-MONTHLY.COM JUN 2022 ABOUT THE DEAL Berlin-based consumer electronics rental start-up Grover has successfully closed its Series C financing round, raising $330 million in debt and equity. This latest funding round is the first to value Grover above $1 billion. The financing round was led by climate tech firm Impact Partner with $110 million in equity and $220 million in debt from investor Fasanara Capital. The financing round also included a number of new investors including Korelya Capital, Co-Investor Partners and Mirae Asset-LG Electronics New Growth Fund. Several existing investors including Viola Fintech, Assurant and coperion opted to increase their stakes in Grover as part of the capital raising. Media funds SevenVentures and German Media Pool and SevenVentures also participated. Grover intends to use the newly raised funds to drive its international expansion and bolster its subscriber numbers in existing markets such as Germany, Austria, Spain, the Netherlands and the US. The start-up also plans to expand its US team by 100 employees. Bette Westenberger Brink advised Fasanara Capital on its contribution to the financing round. SevenVentures and Energy Impact Partners were advised by Jones Day and Orrick Herrington & Sutcliffe respectively. April 2022 Grover’s $330 Million Financing Round

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