Grow Inc’s $25 Million Series B Capital Raising

King & Wood Mallesons assisted fintech Grow Inc’s $25million series B capital raising, enabling the company to accelerate development of its flagship high-security distributed ledger funds administration platform.

Grow Inc’s DLTA platform uses distributed ledger technology – commonly known as the blockchain – to improve security compared to other administration platforms. Grow Inc, founded in 2017 has recently been appointed to provide fund administration services in Australia to Vanguard, the world’s second largest asset manager, as well as other asset management funds.

The funding round was led by leading Australian venture capital fund, AirTree Ventures, and also involves a strategic investment from ASX Limited. In addition, Grow issued a series of convertible notes in 2020, which will convert into the Series B Preference Shares offered in the funding round provided certain conditions are met.

KWM advised Grow Inc on all aspects of the capital raising, including multilateral negotiations with AirTree, ASX and its existing shareholders, with a team including Senior Associate Anthony Boogert, Partner Nicole Heller (Picture) and Solicitor Daniela Lai. 

 

Involved fees earner: Anthony Boogert – King & Wood Mallesons; Nicole Heller – King & Wood Mallesons; Daniela Lai – King & Wood Mallesons;

Law Firms: King & Wood Mallesons;

Clients: Grow Inc.;

Author: Sonia Carcano