K&L Gates advised Square Peg on Airwallex’s US$300 million Series F fundraise
K&L Gates advised Australian venture capital firm Square Peg, as lead investor, on Airwallex’s US$300 million Series F capital raise, which valued the global fintech company at US$6.2 billion.
Existing investors Lone Pine Capital, Tencent, DST Global, among others, and new investors Blackbird Ventures, Airtree Ventures, Radar Ventures, R136 Ventures, and Athletic Ventures also participated in the fundraising round.
Airwallex provides financial services to businesses globally, with a particular focus on simplifying cross-border payments. Square Peg has been a long-term investor in Airwallex, with its first investment made in 2017.
The K&L Gates Corporate team was led by Daniel Atkin (Partner, Sydney) and Simon Leslie (Partner, Sydney), with support from Emanuel Penklis (Senior Associate). Daniel Knight (Partner, Melbourne) advised on regulatory aspects of the transaction. Additional advice on US securities law was provided by partners from the firm’s San Francisco and New York offices, while the Hong Kong office advised on corporate matters.
Square Peg is a longstanding client of the firm, which has acted on a range of domestic and international venture capital investments on its behalf.
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