Herbert Smith Freehills’ Venture Capital team has advised Gamurs Pty Ltd on its US$12 million Series A capital raise. The round was co-led by a number of US investors.
This new capital will be employed to fund the continued rapid growth and expansion of the company.
Gamurs is a leading gaming, esports, and entertainment media network that owns and operates a network of digital publications and social media communities with over 55 million monthly active users.
The Herbert Smith Freehills team was led by Co-Head of Venture Capital Elizabeth Henderson and solicitor Adam Ong, and supported by partners Christine Wong, Toby Eggleston and Stephen Dobbs, senior associate Owen Lunney, and solicitors Roy Carbone and Mapa Madhawa, with a team working across the firms Sydney and Melbourne offices.
Adam Ong said, “Working with a company and founder with such clear direction and strong growth ambitions is always a pleasure. Riad Chikhani and the Gamurs team are building a truly great business and we look forward to seeing Gamurs continue its already impressive trajectory fuelled by this new capital.”
Elizabeth Henderson said, “Riad is a force of nature. Congratulations to him and the team for such a great outcome.”
Gamurs CEO and founder Riad Chikhani said, “We are incredibly proud to have received the backing of such an incredible group of US and Australian investors, and we thank the team at Herbert Smith Freehills for their support through this process. The round not only presents a fresh injection of growth capital, but offers the opportunity to collaborate with strategically aligned investors who will actively add value in our journey to redefine gaming and entertainment media.
“With the round now closed, we are all focused on putting the balance sheet to work with a growing pipeline of M&A opportunities.”
This deal is another example of Herbert Smith Freehills’ market-leading work in Australian venture capital raisings. Other recent examples include:
- Mr Yum on its A$89 million Series A capital raise.
- Linktree on its US$110 million capital raise in 2022 at a valuation of US$1.3 billion
- Dovetail Research on its US$63 Million Series A capital raise
- Deputy Group on its A$111 million Series B capital raise
- Carma on its US$52 million Series A capital raise
- Sonder on its A$35 million Series B capital raise
