Kavak’s Series C financing

Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP advised Kavak on the deal. Morrison & Foerster and Mijares, Angoitia, Cortés y Fuentes advised SoftBank Group Corp

SoftBank-backed used-car platform Kavak has become Mexico’s first tech “unicorn” after reaching a $1.15 billion valuation in its latest funding round last month, Chief Executive Carlos Garcia told Reuters.

The Mexico City-based startup has raised over $400 million in total funding since its founding four years ago, with Japan’s SoftBank, Hong Kong’s DST Global and U.S.-based Greenoaks Capital leading the recent round, Garcia said in an interview on Wednesday.

The company is SoftBank’s most recent Latin American investment to become a unicorn – lingo for tech startups valued at more than $1 billion – after delivery app Loggi and gym membership app Gympass, both from Brazil, and Colombian delivery app Rappi.

The Gunderson deal team advising Kavak was led by Dan Green and included Bradley Krack, Lily Kim, Jesse Mosier, Gianna Sagan, André Lee and Tanya Tarczynski.

Morrison & Foerster advised SoftBank Group Corp with Randolph (Randy) A. Bullard, Juan Delgado and Axel Miranda.

In Mexico, Mijares, Angoitia, Cortés y Fuentes advised SoftBank Group Corp with Ricardo Maldonado Yánez and Carlos Ernesto Orcí Berea.

Involved fees earner: Daniel Green – Gunderson Dettmer; Lily Kim – Gunderson Dettmer; Bradley Krack – Gunderson Dettmer; Andre Lee – Gunderson Dettmer; Jesse Mosier – Gunderson Dettmer; Gianna Sagan – Gunderson Dettmer; Tanya Tarczynski – Gunderson Dettmer; Ricardo Maldonado-Yáñez – Mijares, Angoitia, Cortés y Fuentes, S.C.; Randolph Bullard – Morrison Foerster; Juan Manuel Delgado – Morrison Foerster; Axel Miranda – Morrison Foerster;

Law Firms: Gunderson Dettmer; Mijares, Angoitia, Cortés y Fuentes, S.C.; Morrison Foerster;

Clients: Kavak Mexico; SoftBank Group Corporation;

Author: Ambrogio Visconti