Herbert Smith Freehills’ private equity and venture capital team has advised Linktree on its US$45 million Series B capital raise.
The round was led by global investment firm Coatue and international venture capital firm Index Ventures with existing investors, US private equity and venture capital firm Insight Partners and Australian venture capital firm AirTree Ventures, also participating.
This follows the US$10.7 million Series A capital raise undertaken in 2020.
This new capital will be employed to build out social commerce tools and ramp up team growth globally.
Founded in 2016, Linktree is an Australian tech platform and link-in-bio tool which allows users to aggregate their online ecosystems, enabling content engagement as well as ecommerce.
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 Rob Prosser and solicitor Suman Prusty working across the firm’s Sydney and Melbourne offices.
Elizabeth Henderson said, “Following so closely after Linktree’s Series A raise in 2020, this latest investment round speaks to the great success of this Australian company and the phenomenal attention it is receiving on the world stage. We have been delighted to work with Linktree and its founders through their journey.”
Linktree’s co-founder and CEO, Alex Zaccaria said, “Working with the Herbert Smith Freehills team has been a reassurance at such an exhilarating time for our business. They helped guide us every step of the way.”
This deal is another example of Herbert Smith Freehills’ market-leading work in Australian venture capital raisings. Other recent examples include advising:
- SafetyCulture on its A$60.5 million Series C capital raise and secondary sale;
- Grok Ventures on its investment in Brighte’s A$100 million Series C capital raise;
- Deputy Group on its A$111 million Series B capital raise;
- Culture Amp on its A$120 million Series E capital raise; and
- capital raises for Verteva (Nano Home Loans), Sonder, Gilmour Space, Nura, Roborigger, Reejig, Elenium Automation, Campaign Monitor, Tyro Payments, Different, Shore Trade, Buckitdream and others.