International law firm Dechert LLP advised SG Growth Partners II Luxco S.a.r.l., a newly established private equity fund with corporate seat in Luxembourg managed by Stripes Group, LLC, in its $25M investment in German-based Netbiscuits GmbH, the global leader in software solutions for adaptive web development. The investment was supported by existing investor T‐Venture, a wholly owned subsidiary of Deutsche Telekom AG.
Stripes Group, founded in 2003 and based in New York, is an investment firm focused on growth stage minority and majority investments in rapidly growing and profitable Internet, software‐as‐a‐service, technology‐enabled services and consumer products companies. Stripes Group typically partners with founder‐owned and ‐operated companies that have had limited prior institutional investors. It is the first direct investment by Stripes Group in a European target.
Netbiscuits will use the funding to extend its sales and marketing capabilities in the United States and Europe, as well as focusing on research and development, so it can continue to innovate and shape the market around key mobile trends. The financing round is the largest venture capital financing in Germany in 2012 as yet.
The cross-border Dechert team was led by corporate partner Federico Pappalardo and senior associate Giovanni Russo, both located in Munich, assisted by Christian Böhme, Christian Zwickel (corporate associates, Munich) Tony Chan, Jessica Ryan (corporate associate, Washington) and Shirley Wang (IT/IP associate, New York). Stripes Group is a longstanding client of Dechert.
With 26 offices throughout the United States, Europe, Asia and the Middle East, Dechert is an international law firm focused on corporate and securities, financial services and asset management, complex litigation and international arbitration, real estate finance, business restructuring and reorganization, labor and employment, energy, intellectual property and tax law.
