US-based private investment platform Republic will be acquiring European online private investment platform Seedrs for about US$100 million. The deal is expected to close in early 2022.
The deal also saw participation from global institutional investment management firm Davidson Kempner Capital Management. The firm will hold a stake in Republic by acquiring approximately 30% of Seedrs.
According to a statement, the acquisition will help to build the first global private investment marketplace, with offerings across North America and Europe.
Republic expects to grow their presence in Europe through the deal, expanding Seedrs reach in the region.
The deal comes on the heels of Republic’s US$150 million Series B round led by Valor Equity Partners.
The 2016-founded company allows users to invest in private equity, debt or crypto through their retail platform, and has nearly US$1 billion in assets under management through its private asset management arm.
Republic and Seedrs have had a partnership in place over the last four years. Launched in 2012, Seedrs is the first regulated securities crowdfunding platform in the world, the statement said. It has seen about GBP 1.5 billion (nearly US$2 billion) invested on its platform so far.
“In working with Seedrs, we have admired their technological capabilities, the strength of their team and their strong presence in the UK and soon Europe.
We anticipate further developing the strengths of both companies from retail, secondaries, crypto, and communities to create a clear industry leader,”
said Kendrick Nguyen, founder and CEO of Republic.
Featured image: Republic
