Wilson Sonsini Advises GIC on $6.5 Billion Fundraise for Stripe
- Client Highlights
On March 15, 2023, Stripe, which builds economic infrastructure for the internet, announced it has signed agreements for a Series I fundraise of more than $6.5 billion at a $50 billion valuation. Primary investors include existing Stripe shareholders—Andreessen Horowitz, Baillie Gifford, Founders Fund, General Catalyst, MSD Partners, and Thrive Capital—as well as new investors including GIC, Goldman Sachs Asset and Wealth Management, and Temasek. The funds raised will be used to provide liquidity to current and former employees and address employee withholding tax obligations related to equity awards, resulting in the retirement of Stripe shares that will offset the issuance of new shares to Series I investors. Stripe said it does not need this capital to run its business.
Wilson Sonsini Goodrich & Rosati represented GIC in the transaction. The team includes:
For more information, please see Stripe’s press release.