CAPDESK, backed by Guernsey-based venture capital firm 1818 Venture Capital, has been acquired by US fintech unicorn Carta in a part-cash, part-equity deal.
Co-founded by Christian Gabriel, Capdesk is headquartered in the UK and Denmark and offers a range of software solutions that help private companies simplify all aspects of managing equities, stock options and secondary trading on a single platform.
Carta was incorporated in San Francisco by Henry Ward in 2012. The company was established with an audacious mission to become the transfer agent, brokerage and clearinghouse for all private equity transactions globally and will use Capdesk to expand presence in Europe as part of its compliance push with HMRC and UK Companies House.
“The combination of Carta and Capdesk is extremely synergistic and therefore an extremely exciting development,” said Richard Avery-Wright, founder of 1818 Venture Capital. “Although this exit came a little earlier than expected, we are absolutely delighted to be able to return the capital to investors after only two or three years of investment. This reinforces the idea that despite the current macroeconomic backdrop, good deals will be struck at attractive valuations. We also believe this is another demonstration of 1818’s ability to identify early-stage companies that offer superior returns to our investors.
“We typically invest in pre-Series A opportunities at 1818 Venture Capital. Investing at this early stage requires specific skills to identify talented and ambitious founders, who have an aptitude for success, combined with high emotional intelligence to manage the ups, downs and challenges that inevitably arise.
In July 2021, Carta made $500 million. Series G funding round, led by Silver Lake, at a valuation of $7.4 billion. After the acquisition, Capdesk users will have access to Carta’s products.