Herbert Smith Freehills’ private equity and venture capital team has advised Our Innovation Fund (OIF) as lead investor in Inspace’s A$4 million Pre-Series A capital raise.
Inspace is an Australian real estate virtual reality start-up providing virtual property visualisation technology for commercial real estate owners, managers, agents and tenants. Inspace’s technology platform is currently used by over 90% of Australia’s top tier commercial property landlords including Dexus, Mirvac, JLL, CBRE, Blackstone and others. It has facilitated over $1 billion in real estate deals in the past month. This new capital will be employed to fund the company’s international expansion.
The Herbert Smith Freehills team was led by Co-Head of Venture Capital (Australia) Elizabeth Henderson and solicitor John Slater, with support from partner and Co-Head of Venture Capital Clayton James.
Elizabeth Henderson said, “We have enjoyed working with the team at Our Innovation Fund and supporting it to back innovative Australian tech businesses like Inspace as they move into the world stage. Congratulations to Inspace on the successful raise.”
OIF partner Laurence Schwartz said, “Herbert Smith Freehills continues to support the Venture Capital and start-up ecosystem and it was good to have their strong partnership, experience and value-add on this transaction.”
This deal is another example of Herbert Smith Freehills’ market-leading work in Australian venture capital raisings. Other recent examples include:
- King River Capital on its investment in Lexer’s A$33.5 million Series B capital raise
- Grok Ventures on its investment in Brighte’s A$100 million Series C capital raise
- Linktree on its US $10.7 million Series A and US$45 million Series B capital raises
- Who Gives A Crap on its A$41.5 Million Series A capital raise
- SafetyCulture on its A$60.5 million Series C capital raise