CMS advised Acton Capital on the deal. Taylor Wessing and Wilson Sonsini Goodrich & Rosati advised Yoto.
Acton Capital acted as lead investor on the $17 million Series A funding for Yoto Limited, creator of Yoto Player, the young children’s audio platform. Other investors in the funding round included JamJar Investments, Global Founders Capital, Emerge Education and MPL Ventures.
The investment, which closed in January 2021, followed the successful launch in early 2020 of the 2nd generation Yoto Player. Since the 2020 launch, Yoto has experienced explosive growth, securing partnerships and content deals with trusted household names such as LEGO and Disney as well as licenses with Penguin Random House, Sony Music, HarperCollins, Hachette, Macmillan and more. The Series A funding is expected to facilitate Yoto’s rapid growth across Europe and North America, as well as enable it to develop more of its own content.
Since 1999, Munich-based Acton Capital has been supporting digital pioneers on their way to market leadership and has, to date, funded over 80 companies across Europe and North America.
The CMS team advising on the deal was led by partner Mark Bertram (Picture) and included Toby Lovett and Catherine Little (Corporate); Elijha Wong (IP); Anna Soilleux-Mills and Ed Roper (TMT); Samantha Love (Employment); Ellie Pardy (Employee Incentives); and Valentina Keys and Ben Collins (Environment and Product Compliance).
The team was led by Corporate Partner Ian Moore with support from Senior Associate Richard Faichney and Associate Nell Cooper, and Tax and Incentives Partners Ann Casey and Anna Humphrey. Taylor Wessing advised as UK legal counsel on the transaction in close collaboration with Wilson Sonsini Goodrich & Rosati (WSGR), whose team was led by Dan Glazer and Mike Labriola.
Involved fees earner: Mark Bertram – CMS Cameron McKenna Nabarro Olswang LLP; Valentina Keys – CMS Cameron McKenna Nabarro Olswang LLP; Catherine Little – CMS Cameron McKenna Nabarro Olswang LLP; Samantha Love – CMS Cameron McKenna Nabarro Olswang LLP; Toby Lovett – CMS Cameron McKenna Nabarro Olswang LLP; Ellie Pardy – CMS Cameron McKenna Nabarro Olswang LLP; Ed Roper – CMS Cameron McKenna Nabarro Olswang LLP; Anna Soilleux-Mills – CMS Cameron McKenna Nabarro Olswang LLP; Elijha Wong – CMS Cameron McKenna Nabarro Olswang LLP; Ann Casey – Taylor Wessing; Nell Cooper – Taylor Wessing; Richard Faichney – Taylor Wessing; Anna Humphrey – Taylor Wessing; Ian Moore – Taylor Wessing; Daniel Glazer – Wilson Sonsini Goodrich & Rosati; Michael Labriola – Wilson Sonsini Goodrich & Rosati;