An international Baker McKenzie team advised SEBA Bank AG ("SEBA") in the course of a successful Series C funding round, raising CHF 110 million through the issuance of participation certificates (non-voting shares). The financing round was co-led by a consortium of specialized blockchain and fintech investors, including Altive, Ordway Selections and Summer Capital, as well as DeFi Technologies, a NEO listed leader in decentralized finance. Alameda Research, a global cryptocurrency quantitative trading firm and liquidity provider, as well as core partner of FTX, also participated in the round. The round was significantly oversubscribed, with existing investors, including Julius Baer, increasing their investment.
SEBA Bank, a fully integrated, FINMA-licensed digital assets banking platform, is planning to use the Series C proceeds to invest in further expansion in the APAC region and the Middle East and to drive institutional business growth through investment in product offerings and technology.
Baker McKenzie co-advised SEBA Bank on selected legal aspects concerning the Series C funding round in collaboration with Felix Kappeler of the Zug-based firm Schweiger Law.
The Baker McKenzie team was led by Matthias Courvoisier (partner, Zurich) and Yves Mauchle (senior associate, Zurich) and included Tanja Schmid, Cora Schmid (both associates, Zurich) as well as Adam B. Farlow (partner, London) and Greg McNab (partner, Toronto).