Herbert Smith Freehills’ private equity and venture capital team has advised Own³Ô¹ÏÍøÕ¾ Technologies Pty Ltd on its A$31 million Series A capital raise led by Square Peg. Own³Ô¹ÏÍøÕ¾ Technologies is an Australian technology company whose mission is to turn renters into homeowners via a rent-to-own model.
The Herbert Smith Freehills team was led by Co-Head of Venture Capital (Australia) Elizabeth Henderson and solicitors Adam Ong and Esther Adeyinka, and were supported by the head of Herbert Smith Freehills’ Australian Banking Regulatory team, Tony Coburn, alongside a team from across the Sydney and Melbourne offices. The transaction team also worked closely with associated tax practice Greenwoods & Herbert Smith Freehills, led by partner Toby Eggleston.
Elizabeth Henderson said, “It has been wonderful assisting James, Tim and the Own³Ô¹ÏÍøÕ¾ team on this capital raise. Own³Ô¹ÏÍøÕ¾ has set out to tackle the big issue of housing affordability and this investment marks an exciting point in the company’s growth. We were honoured to be part of their journey and thank them for trusting Herbert Smith Freehills with guiding them through this raise.”
Own³Ô¹ÏÍøÕ¾ Co-Founder James Bowe said, “We’ve loved working with HSF across a range of topics alongside this capital raise, including the regulatory landscape for alternative paths to homeownership. Their counsel has been invaluable on our journey to date. We’re conscious that there’s a lot of work to be done in expanding access to homeownership in Australia and we’re glad to be working with the best and brightest on these topics.”
This deal is another example of Herbert Smith Freehills’ market-leading work in Australian venture capital raisings and fintech transactions. Other recent examples include:
- Nano ³Ô¹ÏÍøÕ¾ Loans on its A$33 million capital raise
- Limepay’s A$21 million pre-IPO capital raise
- Who Gives a Crap on its A$41.5 million Series A capital raise
- Mr Yum’s A$89 million Series A capital raise
- Culture Amp on its A$120 million Series E capital raise and A$135 million Series F capital raise and secondary sale
- Linktree on its US$10.7 million Series A and US$45 million Series B capital raises
