Herbert Smith Freehills’ private equity and venture capital team has advised Grok Ventures on its investment in Brighte’s A$100 million Series C capital raise.
Grok Ventures led the round joined by existing investors Qualgro, Airtree Ventures and Skip Capital.
Brighte is an Australian fintech company and clean energy retailer, facilitating finance for clean energy solutions and connecting homeowners with solar and home improvement businesses through its digital payment platform. The new capital will be used to fund Brighte's new retail arm offering unsecured loans for rooftop solar and batteries, and enabling customers to sell excess rooftop solar and battery power to other customers through the grid.
The Herbert Smith Freehills team was led by partner and head of venture capital Peter Dunne, senior associate William He, and solicitor Lisa Alderson.
William He said, “We were pleased to assist Grok Ventures with its investment in Brighte, a company that brings ingenuity and innovation to bring together fintech and clean energy. We look forward to working with Grok Ventures in the future as it continues to support clean energy and Australian technology.”
Jeremy Kwong-Law, CEO at Grok Ventures, said, "It was great to work with Peter, William and Lisa again. Always commercial, fast to act and great understanding of the substantive issues at hand."
This deal is another example of Herbert Smith Freehills’ market-leading work in Australian venture capital raisings and fintech transactions. Other recent examples include:
- Nano Home Loans (formerly Verteva) on its A$33 million capital raise;
- SafetyCulture on its A$60.5 million Series C capital raise and secondary sale;
- Deputy Group on its A$111 million Series B capital raise;
- 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.