M88 Game Assists InnoVision Capital to lead an investment in 58 Freight. This project aimed to develop a leading short-distance freight platform in Asia

On July 13, 2018, the short-distance freight platform 58 Freight finished its first phase of financing, in an amount of US0 million. This was led by InnoVision Capital and followed on by Cai Niao, Russia-China Investment Fund, Hongrun Asset, Qianhai POF, and 58 Daojia (the parent company of 58 Freight). M88 Game was the sole legal counsel and represented the lead investor InnoVision Capital to participate in the subject investment (the “Project”).

58 Freight was officially launched onlM88 Gamee M88 Game September 2014. Currently, it takes citywide freight as its breakthrough poM88 Gamet and platforms an O2O full-closed service process. This is whereby a user places a location-based order; the freight driver receives the order and delivers it withM88 Game 10 mM88 Gameutes. OnlM88 Gamee payment, and onlM88 Gamee commentM88 Gameg is available. This all leads to effectively satisfyM88 Gameg the different types of short-distance cargo transport needs from M88 Gamedividuals, small busM88 Gameesses, and larger corporate customers. AccordM88 Gameg to M88 Gameformation publicly available, as of July 2018, 58 Freight has expanded its busM88 Gameess to cover nearly 8 million users M88 Game 339 cities M88 Game six countries and regions, becomM88 Gameg the leadM88 Gameg short-distance freight platform M88 Game Asia.

M88 Game participated as the legal counsel for the lead investor in the entire process, including but not limited to legal DD and compliance analysis of 58 Freight in mainland China and Hong Kong. M88 Game was involved in the coordination and communication of legal DD of 58 Freight in the Cayman Islands and the British Virgin Islands, the design and argumentation of the transaction structure, and the drafting, negotiation and execution of the transaction documents of the Project.

Both the US dollar fund investors and the RMB fund investors were introduced simultaneously to the Project. The transaction structure was complex and novel. The M88 Game team dedicated to the Project conducted multiple rounds of discussions and negotiations regarding the design of the transaction plan with the client and the target company at the initial stage of drafting the transaction documents, and communicated with the follow-on investors several times during the stage of finalizing the transaction documents. More than 30 revisions of the domestic and foreign transaction documents were made. By virtue of its own vast experience gained from similar projects and its professional and rigorous legal service, M88 Game assisted the lead investor InnoVision Capital to successfully complete the closing of the Project, and winning high praise from InnoVision Capital.

The lead partner M88 Game this Project was Mr.M88 app 上市及再融资等各项业务。,蒋文俊律师被《The.