Paul Hastings Advises Vancl in US$100 Million Fundraising
Beijing (December 16, 2010) Paul, Hastings, Janofsky & Walker LLP, a leading global law firm, announced today that it has advised Vancl.com (Vancl), Chinas largest online clothing retailer, in its US$100 million equity financing from a consortium of investors including Ceyuan Ventures, Tiger Global Management LLC, IDG Capital Partners, and SAIF Partners Ltd.
Roger Peng, a partner in the private equity practice at Paul Hastings, commented: We are delighted to have advised Vancl on this latest round of fundraising. Online retailing is growing at phenomenal rate in China and this deal highlights the significant interest in this sector from investors. We expect to see this trend continue in 2011 and we are well placed to advise on future deals.
The Paul Hastings team was led by partner Roger Peng assisted by associates Amber Tang, Ran Li and Xiaochen Zhang.
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