Herbert Smith Freehills’ private equity and venture capital team has advised Vexev on its USD$6 million Seed-1 capital raise. The round was led by Neotribe Ventures and Blackbird Ventures.
Founded by Dr John Carroll and Dr Eamonn Colley, Vexev is a medtech start-up that is building the next generation of non-invasive medical imaging and intelligent patient monitoring. The new capital will be employed to expand the team and accelerate the development of their robotic ultrasound technology.
The Herbert Smith Freehills team was led by Co-Head of Venture Capital (Australia) Elizabeth Henderson and solicitors Roy Carbone and Katherine Duong, and supported by partners Peter Dunne and Toby Eggleston, working across the firm’s Sydney and Melbourne offices.
Elizabeth Henderson said, “Congratulations to John and Eamonn on closing their Series Seed-1 capital raise. It has been terrific to work with such a talented and innovative team as the Vexev team on this raise, and we are looking forward to seeing the team continue to drive innovation in the sector.”
Roy Carbone and Katherine Duong said, “We work with some seriously clever founders in our roles and Eamonn and John are definitely up there with the best of them. It’s been a pleasure assisting the team on this raise. We’re excited to see what the Vexev team achieves going forward.”
Vexev founder John Carroll said, “Once again it was great to work with Elizabeth, Peter, Katherine and Roy on our third capital raise. We are very excited to bring on new US-based investors Neotribe Ventures, alongside Blackbird Ventures and a fantastic group of angels. We thank the team for making the process as smooth as possible.”
This deal is another example of Herbert Smith Freehills’ market-leading work in Australian venture capital raisings. Other recent examples include:
- Who Gives A Crap on its A$41.5 million Series A capital raise
- SafetyCulture on its A$90 million Series C2 capital raise
- Linktree on its US$10.7 million Series A and US$45 million Series B capital raises
- Finder on its A$30 million Series A capital raise
- Dovetail Research on its US$63 million Series A capital raise
- Culture Amp on its A$120 million Series E capital raise and A$135 million Series F capital raise and secondary sale