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Herbert Smith Freehills’ private equity and venture capital team has advised King River Capital on its investment in Lexer's A$33.5 million Series B capital raise. 

King River Capital co-led the round with Blackbird Ventures, and were joined by January Capital, which led Lexer's Series A round in 2017.

Lexer is an Australian data analytics for brands and retailers. The new capital will be used to fund Lexer's growth to assist in almost doubling its headcount and other expansions.

The Herbert Smith Freehills team was led by partner and Head of Venture Capital Peter Dunne, Co-Head of Venture Capital (Australia) Elizabeth Henderson, senior associate William He, and solicitor Alexandra Thams.

William He said, “We were pleased to assist King River Capital with its investment in Lexer to help it bring its market-leading customer data platform to brands and retailers around the world. We look forward to Lexer playing an important role in the post Covid-19 retail landscape.”  

Chris Barter, Partner at King River Capital, said, “It was great to partner with Peter, Elizabeth and William. We found the team to be commercial, responsive and efficient. King River looks forward to working with HSF again soon."

This deal is another example of Herbert Smith Freehills’ market-leading work in Australian venture capital raisings and fintech transactions. Other recent examples include:

  • Grok Ventures on its investment in Brighte's A$100 million Series C capital raise;
  • SafetyCulture on its A$60.5 million Series C capital raise and secondary sale;
  • Culture Amp on its A$120 million Series E capital raise; and
  • acting for companies or investors in capital raises for Shippit, Spriggy, Tyro Payments, Airwallex, Sonder, Nura, Reejig, Elenium Automation, Campaign Monitor, Different and others.

Key contacts

Peter Dunne photo

Peter Dunne

Co-Head of Venture Capital, Sydney

Peter Dunne
Elizabeth Henderson photo

Elizabeth Henderson

Partner, Co-Head of Venture Capital (Australia), Sydney

Elizabeth Henderson

Media contact

For further information on this article please contact

Emily Coultas

External Communications Manager