Advising Dawn Capital on US$129m Series E round for Quantexa

We have advised longstanding client Dawn Capital on its latest investment as part of a $129 million Series E fundraising for Quantexa at a valuation of $1.8 billion. The investment is one of the largest of the year so far for a UK-based firm and marks the first British unicorn of 2023.

This latest deal for the early-stage VC fund expands its investment into the data and analytics software company and follows our previous advice to Dawn Capital on Quantexa's $20 million Series B, $64.7 million Series C, and $153 million Series D funding.

Dawn Capital, Europe's largest specialist B2B software investor, backs companies at series A and B and continues to fund the best performing through growth rounds to exit. We have advised Dawn Capital on other numerous transactions over the last 10 years including investments in Dataiku, Eigen Technologies, Ably, Firebolt Analytics, Tink, and Copper Technologies.

Quantexa specialises in contextual decision intelligence, using data and machine learning to help businesses make better decisions across multiple areas, including financial crime compliance, KYC, customer intelligence, fraud and credit risk.

Commenting on the transaction, Partner Howard Palmer said: "This latest investment in Quantexa demonstrates Dawn Capital's commitment to innovation, and the support and development of its portfolio of companies. We're seeing more strategic investment in the technology sector overall, something we need to continue in the current market to preserve our most ground-breaking technology companies and their innovations."

Dawn Capital was advised by partner Howard Palmer and senior associate Elinor Picton.

This round was led by GIC, with participation from Dawn Capital and other existing investors including Warburg Pincus, Albion VC, BNY Mellon, Evolution Equity Partners, HSBC, ABN AMRO Ventures and British Patient Capital.