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Australian ESG tracking and reporting platform FairSupply has been advised on its Series A capital raising.
Firm: K&L Gates (FairSupply)
Area: Capital markets
Value: Undisclosed
Key players: The K&L Gates team was led by partner Adam Levine and senior associate Ben Kiernan-Green, who were supported by lawyers Cassandra Ferrier and Ellen Richmond.
Deal significance: Mr Levine said: “Although there has been a marked improvement in the aspirations of Australia’s leading companies with respect to environmental, social and governance reporting over the last few years, we expect the requirements for more comprehensive and standardised reporting will only continue to grow.”
“As a result, ESG is very much in the front of mind of all organisations, so we are thrilled to have supported FairSupply with this strategic capital raising, as a leader in the field of ESG tracking and reporting. It is a testament to the hard work of Kim, Arne and the rest of the FairSupply team that they have been able to secure support from some significant and influential investors in the Series A capital raising,” he said.
FairSupply chief executive and co-founder Kimberly Randle added: “The global total addressable market for companies required to identify, address and mitigate ESG risks in their supply chains and investment portfolios is rapidly increasing.
“However, despite increased societal and regulatory pressure to report on ESG impact, quantifying and gathering this data has never been more complicated, especially when assessing ESG further down the supply chain.
“And while many companies have good intentions and want to prioritise ESG, the vast majority don’t have access to the knowledge or tools to properly assess, understand and make informed decisions to improve their ESG rating — but we’re changing that. This deal is instrumental to scaling that change.”
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Jerome Doraisamy is the managing editor of Lawyers Weekly and HR Leader. He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.
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Jerome Doraisamy
