Global law firm Ashurst advised Birchal Pty Ltd (Birchal) in respect of its equity crowd-sourced funding raise. Birchal raised A$3 million in just 63 minutes on its own platform – the second fastest raise in local CSF history.
Birchal is a market-leading CSF platform that allows everyday Australians to buy shares in private and unlisted public companies.
Birchal recognises the growth of retail crowdfunding in Australia and seeks to make SMEs and startups part of the mainstream suite of investment options open to retail investors and sophisticated investors. The raise will help Birchal build out its platform so that it can provide the infrastructure required to attract new investors and grow Australia’s startup landscape.
The Ashurst team was led by partner Stuart Dullard, assisted by counsel Jason Maletic and associate Rebecca Karpin (Corporate Transactions) and partner Hong-Viet Nguyen (Financial Regulatory).
