SoftBank Vision Fund’s $2.8 billion investment in OakNorth

White & Case LLP has advised SoftBank Vision Fund on its investment in British unicorn OakNorth, in what will be the largest ever European fintech fundraising.

The investment will value OakNorth at around US$2.8 billion. Closing of the investment will take place subject to regulatory approvals.

OakNorth is a challenger bank that specialises in lending to small and medium-sized businesses. It has lent over US$3.7 billion to British businesses, and has licensed its automated lending system to other banks and lenders around the world.

White & Case also advised SoftBank Vision Fund on another significant mandate in January.

The White & Case team in London which advised on both the OakNorth deal and the other investments was led by partners Ian Bagshaw (Picture), Emmie Jones and Daniel Turgel, with support from associates Joseph Bradley, Elena Ruggiu and Disha Chandrachud. The team also included London partners Lindsey Canning, Nicholas Greenacre, Laura Hoyland, Hyder Jumabhoy, Helen Levendi, Prabhu Narasimhan, Patrick Sarch, Michael Weir and Stuart Willey, Washington, DC partner Farhad Jalinous, London counsel Paul Harrington and London associate David Lancaster.

Involved fees earner: Ian Bagshaw – White & Case; Joseph Bradley – White & Case; Lindsey Canning – White & Case; Nicholas Greenacre – White & Case; Paul Harrington – White & Case; Laura Hoyland – White & Case; Farhad Jalinous – White & Case; Emmie Jones – White & Case; Hyder Jumabhoy – White & Case; Helen Levendi – White & Case; Prabhu Narasimhan – White & Case; Elena Ruggiu – White & Case; Patrick Sarch – White & Case; Daniel Turgel – White & Case; Michael Weir – White & Case; Stuart Willey – White & Case;

Law Firms: White & Case;

Clients: SoftBank Vision Fund;

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