JWS advises on largest Series B investment in Australia to date

Media releases

JWS advised Institutional Venture Management XVI (IVP) and OpenView as lead investors on their Series B investment in Deputy by way of an acquisition of ordinary shares from existing shareholders and the issue of Series B Preferred shares.  Announced on 28 November 2018, this is the largest Series B investment in Australia to date involving a total of US$80 million (AU$111 million). JWS previously advised OpenView on its Series A investment in Deputy in 2016.

Following completion, IVP will hold approximately 12% of the issued share capital of Deputy (10.2% on a fully diluted basis) and OpenView will hold approximately 17.44% of the issued share capital of Deputy (14.793% on a fully diluted basis).

The JWS team was led by James Rozsa and Sophia Bobeff, assisted by Jack Culbertson, Jesse McNaughton, Reynah Tang, Ravi de Fonseka, Luci Mumme, Evan Mentiplay, Rosemary Tedesco, Georgina Xiradis and Lyndal Keevers.

Other firms advising on the investment were Herbert Smith Freehills as Australian counsel to Deputy, Cooley LLP as US counsel to IVP and Goodwin Procter LLP as US counsel to OpenView.

 

About Johnson Winter & Slattery

JWS is engaged by major Australian and international corporations and investment funds as legal counsel on their most challenging transactions and disputes throughout Australia and surrounding regions.

Our role

Our representation of major corporations in many landmark and transformational deals and complex disputes positions us as a leading independent Australian firm.

Our approach

With an appreciation of our client's commercial needs, we blend legal expertise with commercial and market awareness to deliver high quality legal services. This means working closely with clients and their in-house counsel to understand their commercial objectives, and ensuring our approach is tailored to deliver timely commercial outcomes.

Our difference

Our higher ratio of senior lawyers means clients engage directly with the tactical minds and industry expertise required to succeed in complex and high stakes deals and disputes. A partnership ethos of service, technical excellence and collaboration ensures the most relevant specialist expertise and experience is brought to bear on every assignment.

 

Media contact

Kate Potter, Business Development Director
T. +61 2 8274 9555
E. kate.potter@jws.com.au

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