Da Vinci cashes in on quick LoopMe growth with stake sale to Mayfair Equity at $200m valuation | AltAssets Private Equity News
Summary
Tech and consumer growth investor Mayfair Equity Partners has agreed to buy part of Da Vinci Capital‘s stake in mobile brand advertising platform LoopMe in a deal which values the company at almost $200m. The deal comes just under a year after Da Vinci bought into LoopMe, and sees the firm retain a “modest stake” in the company. Never miss a story – click to sign up to AltAssets’ free daily PE newsletter Da Vinci Capital Managing Partner Dennis Fulling said, “We are excited that LoopMe has attracted investment from Mayfair and thrilled to achieve a lucrative return on our investment in one of our most exciting and fastest growing portfolio companies.” LoopMe recorded estimated gross revenues of nearly $100m last year and achieved revenue growth of about 50% percent over the past three years. Mayfair will invest $120m for its majority stake, and hopes to help LoopMe continue to expand internationally and bring new products to market. Mayfair hit a £650m hard cap for the final close of its second fund two years ago, eyeing opportunities in the TMT and consumer sectors.
Classifications
AskAI Classifications
LabelsLinked Companies
