Macfarlanes advises Improbable on $502m fundraising
- 12 May 2017
Macfarlanes has advised Improbable, a UK-based virtual simulation start-up, on the raising of $502m in its latest financing round led by Japan’s SoftBank Group Corp., with other previous investors also participating. This is the largest ever Series B investment in Europe and the biggest venture financing round by a private British company in history.
Improbable uses cloud-based software to create virtual worlds for use in games as well as large-scale simulations of the real world. The investment will be used to further develop its technology and make additional hires for its London and San Francisco offices.
Improbable has been a client of Macfarlanes since its inception in 2012, with the firm advising on each of the businesses previous funding rounds.
Working very closely with and supporting Rob Miller, Improbable’s recently appointed Chief Legal Officer, the Macfarlanes team for this matter was led by corporate and M&A partner Alex Edmondson, with assistance from corporate and M&A partner Richard Burrows and senior solicitor Julian Grant.
Alex Edmondson comments: “This is a transformational investment for Improbable, which we were delighted to advise and work closely with Rob Miller on, and is a continuation of the relationship we have built with Improbable and its founder Herman since first incorporating the company five years ago. It also represents a landmark transaction for the UK start-up scene, being the largest fundraising seen to date, and validates the UK technology sector as a significant global force.”