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 transaction.
Co-founded by Christian Gabriel, Capdesk is headquartered in the UK and Denmark and provides a range of software solutions that help private companies simplify every aspect of managing equity, equity options, and secondary transactions all in one platform.
Carta was incorporated in San Francisco by Henry Ward in 2012. The company was established with a bold mission to become the transfer agent, brokerage and clearing house for all private stock transactions in the world and will use Capdesk to expand its presence in Europe as part of its compliance push with the UK’s HMRC and Companies House.
‘The combination of Carta and Capdesk is hugely synergistic and hence this is an extremely exciting development,’ said Richard Avery-Wright, founder of 1818 Venture Capital. ‘Whilst this exit has come slightly sooner than we expected, we are absolutely delighted to be able to return capital to investors after only two or three years of investment. It reinforces the notion that despite the current macro-economic backdrop, good deals will get done at attractive valuations. We also believe it is another demonstration of 1818’s ability to identify early-stage companies that deliver superior returns for 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 to succeed, coupled with high emotional intelligence to handle the ups, downs and challenges that inevitably present themselves.’
In July 2021, Carta completed a $500m. Series G funding round, led by Silver Lake, at a valuation of US$7.4bn. Following the acquisition, Capdesk users will gain access to Carta’s products.