Gilbert + Tobin acted as legal advisor to OneVentures on its 55% secondary selldown of interests in human resources technology company Employment Hero.
Employment Hero closed its $140 million unding round with an $800 million valuation.
New York VC fund Insight Partners, which led the round, has acquired 55 per cent of OneVentures’ stake, netting it $50 million for the second fund and an additional $5 million for a second investment vehicle.
Employment Hero is a HR, payroll and employee benefit platform designed to help SMEs manage their workforce and boost productivity. It provides services to more than 6,000 businesses, managing more than 250,000 employees.
OneVentures is one of Australia’s leading venture capital firms, with over $550 million in funds under management. G+T has advised OneVentures on the establishment of all of its venture capital funds, and on its early stage investments in Employment Hero, including as the lead investor in Series A and co-lead in Series B with Seek.
Insight Partners, founded in 1995, is a leading global private equity and venture capital firm.
The G+T team was led by Corporate Advisory Partner Deborah Johns (Picture), supported by lawyers Judy Hsu and Liya Wu.
Law Firms: Gilbert + Tobin;
Clients: OneVentures Pty Ltd;