Herbert Smith Freehills' venture capital team has advised Our Innovation Fund (OIF) as lead investor in Mastt's A$9.4 million Series A capital raise.
Launched in 2019, Mastt provides portfolio and capital management software for major construction projects. This new capital will be employed to fund the company's continued expansion.
The Herbert Smith Freehills team was led by Co-Head of Venture Capital (Australia), Elizabeth Henderson and solicitors John Slater and Jane Wang.
Elizabeth Henderson said: "We're delighted to have again supported OIF in backing the Australian tech sector. Congratulations to Mastt on a successful raise. We look forward to seeing its next phase of growth."
OIF partner Laurence Schwartz said: "We were grateful to have been supported by the team at HSF on this transaction and to have their valued input and advice. Infrastructure spending is at record highs globally and we look forward to Mastt accelerating its role as market-leading software to deliver projects safely, on time and on budget."
This deal is another example of Herbert Smith Freehills' market-leading work in venture capital raisings by Australian tech companies. Other recent examples include advising:
- King River Capital on its investment in Lexer's A$33.5 million Series B capital raise
- Grok Ventures on its investment in Brighte's A$100 million Series C capital raise
- Mr Yum on its A$89 million Series A capital raise
- Culture Amp on its A$120 million Series E capital raise and A$135 million Series F capital raise and secondary sale
- Linktree on its US$10.7 million Series A and US$45 million Series B capital raises
