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General Atlantic Leads Series B Investment in Acesso Digital, Alongside SoftBank
- Client News
- September 21, 2020
Paul, Weiss is representing funds affiliated with General Atlantic LLC in its investment, together with the SoftBank Latin America Fund, in Acesso Digital, a Brazilian technology company specializing in digital identity authentication solutions, including facial recognition, remote hiring and electronic signatures. The $108 million (R$580 million) funding round represents the largest Series B investment received to date by a software-as-a-service (SaaS) company in Latin America. Pursuant to the terms of the investment, General Atlantic and SoftBank will each gain a seat on Acesso Digital’s board.
The transaction is expected to close within the next month.
The Paul, Weiss team includes, among others, corporate partner Matthew Abbott; tax partner Lindsay Parks; litigation counsel Rachel Fiorill and Peter Jaffe; and antitrust counsel Marta Kelly.