Gide, counsel to the investors in Sorare’s record $680 million fundraising

Gide has advised D1 Capital, IVP and Liontree for their participation in the Series B Financing of USD 680m led by Softbank, with participation from Atomico, Bessemer Ventures, Eurazeo, and existing investors Benchmark, Accel and Headline in Sorare, a France-based developer of a global fantasy football game.

Sorare raises $680M Series B to create the next sports entertainment giant leveraging NFTs

• The round is led by SoftBank, with participation from Atomico, Bessemer Ventures, D1 Capital, Eurazeo, IVP and Liontree as well as existing investors including Benchmark, Accel, Headline and high-profile business angels.
• Sorare plans to sign up the top 20 football leagues and expand into other sports to strengthen its position as the leading player in NFT-based fantasy sports. The company is hiring a world-class team and will open an US office to fuel its growth.
• The investment, Europe’s biggest ever Series B, gives Sorare a new valuation of $4.3 billion.

Gide’s team advising the investors was headed by partner David-James Sebag, with counsel, Paul Jourdan-Nayrac, and associate Marie-Sophie Chevreteau.