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$100m+ raised by banking start-up
King & Wood Mallesons has advised a number of investors on their commitment to share capital for a new SME start-up bank.
Grace Ormsby
Firm: King & Wood Mallesons
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Deal: KWM has advised twelve investors, including the investment arms of The Myer Family Investments Pty Ltd, Abu Dhabi Capital Group, Ironbridge and OPTrust on their recent commitment of share capital to new SME start-up bank, Judo Capital.
Value: $100 million +
Area: Corporate
Key players: Partner Susan Hilliard, special counsel Matt Egerton-Warburton and solicitor Michael Power advised the investors.
Deal significance: “Judo’s fundraising is timely given the federal government policy support of new entrants like Judo Capital to the financial sector,” KWM partner Susan Hilliard said.
KWM special counsel Matt Egerton-Warburton believes the confidence shown by the investor group makes it an exciting time for Judo.
“This investment provides Judo with further capital to grow its SME lending business in Australia. If Judo is successful in its application to APRA to become a deposit-taking institution, the funding base could broaden markedly, providing future lending capacity,” he said.
