Nicolás Santana and María Jesús Ibáñez

PPU advises Softbank on $150m financing round

Philippi Prietocarrizosa Ferrero DU & Uría has acted as Chilean advisor to the venture capital fund SoftBank Latin America Fund in connection with the Series C financing round of Nowports Inc. through which it raised US$150 million.

The advisory included a legal review of the Chilean entity and the legal structure of its business, involving the jurisdictions of the United States, Chile, Mexico, Colombia, Uruguay, Peru, Panama and Brazil.

The transaction was closed on 20 May. Morrison & Foerster LLP acted as joint counsel to SoftBank.

Thanks to this round of financing Nowports acquires “unicorn” status by being valued at US$ 1.1b.

Morrison & Foerster’s team included partner Juan Delgado and associate Axel Miranda.

PPU’s team included senior associates Nicolás Santana (pictured left) and María Jesús Ibáñez (pictured right), as well as associate Mauricio Clavel.

L Giselle Estrada