Bury law firm Clough & Willis has acted for JamJar Investments on two investments into its portfolio; Chronext AG and SID Group.
JamJar Investments is a venture capital investment fund based in London. The firm was established in 2013 by the three founders of Innocent Drinks – Richard Reed, Jon Wright and Adam Balon – as well as Katie Marrache and Paul Chiappe. It provides seed investment in early stage consumer tech and offline companies. Previous investments include Graze, Deliveroo, BlueBottle Coffee, Gojimo and Propercorn.
Chronext AG is a luxury German-based watch dealer, which enables customers from around the world to buy and sell high-end and vintage wristwatches via its website. This is the second equity stake JamJar has taken in the company.
SID Group trading as Fiit.tv is a new entry in the healthcare and fitness sector. It operates via a mobile app that allows people to take fitness classes from their own home whilst monitoring their progress with a connected heart monitor.
The team at Clough & Willis was headed up by Guy Lachlan who is a commercial solicitor in the Corporate and Commercial department. The firm advised on various aspects of the deals including the Investment, Shareholders’ and Advisor Agreements, Organisational Regulations and Articles.
Katie Marrache, partner at JamJar, said: “Chronext has grown from strength to strength since we first invested. Bringing the offline luxury second hand watch industry online provides more choice for consumers, more liquidity for dealers and online penetration for watch brands. Fiit.tv is also a concept we are really excited about. Taking a tracked class from your living room is more convenient and makes improving easier to monitor and more fun.”
Guy Lachlan added: “JamJar continues its proactive and flexible investment approach in the consumer sector, continuing to pick early winners in emerging markets.”