Gide, counsel to the investors in Sorare's record $680 million fundraising
22 September 2021
Deals | France | Corporate/M&A
Gide has advised D1 Capital, IVP and Liontree for their participation in the Series B Financing of USD 680m led by Softbank, with participation from Atomico, Bessemer Ventures, Eurazeo, and existing investors Benchmark, Accel and Headline in Sorare, a France-based developer of a global fantasy football game.
Sorare raises $680M Series B to create the next sports entertainment giant leveraging NFTs
The round is led by SoftBank, with participation from Atomico, Bessemer Ventures, D1 Capital, Eurazeo, IVP and Liontree as well as existing investors including Benchmark, Accel, Headline and high-profile business angels.
Sorare plans to sign up the top 20 football leagues and expand into other sports to strengthen its position as the leading player in NFT-based fantasy sports. The company is hiring a world-class team and will open an US office to fuel its growth.
The investment, Europe's biggest ever Series B, gives Sorare a new valuation of $4.3 billion.
Gide's team advising the investors was headed by partner David-James Sebag, with counsel, Paul Jourdan-Nayrac, and associate Marie-Sophie Chevreteau.