Sorare’s $680 Million Series B Financing Round

Orrick advised Sorare on the deal. Latham & Watkins advised Atomico. White & Case advised SoftBank Vision Fund II. Hogan Lovells has advised Accel, Eurazeo and various investors. Gide advised D1 Capital, IVP and Liontree.
Goodwin advised Benchmark Capital Partners and Bessemer Venture Partners.

Sorare, a developer of an NFT (non-fungible token)-based fantasy football game, announced its $680 million Series B financing round, bringing its valuation to $3.8 billion. The funding, led by SoftBank, marks the largest round ever in the French technology sector and the largest Series B ever in Europe.

A gaming company created in 2018 by two football fans (Nicolas Julia and Adrien Montfort) and endorsed by world-class football (“soccer”) players (Gerard Piqué, Antoine Griezmann and Rio Ferdinand), Sorare offers an online fantasy football platform for enthusiasts to create teams and exchange and buy virtual players through the use of NFT limited digital collectible cards. With this new step, Sorare continues to grow and expand into new markets, including in the United States. The company plans to partner with the top 20 football leagues across the globe and expand into other sports to strengthen its position in NFT-based fantasy sports.

The Orrick team advising Sorare is led by Benjamin Cichostepski-Lesage (Picture), Vincent Babin, Samuel Tazartes and Mayeul Lelievre.

Latham advised Atomico with Pierre-Louis Cléro, Sharon Mitz, Christos Ierna, Mike Turner, Shing Lo.z.

The White & Case team included Guillaume Vitrich, Clément Cenreaud, Emilie Rogey, Bertrand Liard, Clémentine Durney, Alexandre Jaurett, Cécilia Grosjean (Paris). The team also included partners Dan Turgel (London), Prat Vallabhaneni (Washington, DC), associates Helen Pantelides, Francis Brown (both London).

The Hogan Lovells team consisted of Matthieu Grollemund, Hélène Parent (partners) and Madalina Asandului, Gautier Valdiguié and Thomas Gluzman (associates). 

The Gide team included David-James Sebag, Paul Jourdan-Nayrac, Marie-Sophie Chevreteau.

The Goodwin team was led by Thomas Dupont-Sentilles and included Yoann Labbé, Brad Weber and David Concannon.

Involved fees earner: Marie-Sophie Chevreteau – Gide Loyrette Nouel; Paul Jourdan-Nayrac – Gide Loyrette Nouel; David-James Sebag – Gide Loyrette Nouel; David Concannon – Goodwin Procter; Thomas Dupont-Sentilles – Goodwin Procter; Bradley Weber – Goodwin Procter; Madalina-Georgiana Asandului – Hogan Lovells; Matthieu Grollemund – Hogan Lovells; Hélène Parent – Hogan Lovells; Gautier Valdiguié – Hogan Lovells; Pierre-Louis Cléro – Latham & Watkins; Christos Ierna – Latham & Watkins; Sharon Mitz – Latham & Watkins; Mike Turner – Latham & Watkins; Shing Yuin Lo – Latham & Watkins; Vincent Babin – Orrick Herrington & Sutcliffe LLP; Benjamin Cichostepski – Orrick Herrington & Sutcliffe LLP; Mayeul Lelievre – Orrick Herrington & Sutcliffe LLP; Samuel Tazartes – Orrick Herrington & Sutcliffe LLP; Francis Brown – White & Case; Clément Cenreaud – White & Case; Clémentine Durney – White & Case; Cécilia Grosjean – White & Case; Alexandre Jaurett – White & Case; Bertrand Liard – White & Case; Helen Pantelides – White & Case; Emilie Rogey – White & Case; Daniel Turgel – White & Case; Pratin Vallabhaneni – White & Case; Guillaume Vitrich – White & Case;

Law Firms: Gide Loyrette Nouel; Goodwin Procter; Hogan Lovells; Latham & Watkins; Orrick Herrington & Sutcliffe LLP; White & Case;

Clients: Accel ; Atomico Investment Holdings Limited ; Benchmark; Bessemer Venture Partners; D1 Capital Partners; Eurazeo; IVP; LionTree Advisors LLC; SoftBank Vision Fund II; Sorare;

Author: Naoual Sadouqi