Fenwick & West represented FanDuel, Inc., the largest one-day fantasy sports operator, in its $275 million Series E financing. The round was led by KKR, Google Capital and Time Warner Investments, together with Turner Sports. A number of NFL and NBA team owners participated in the round along with previous investors, including Shamrock Capital, NBC Sports Ventures, Comcast Ventures, Bullpen Capital, Pentech Ventures and Piton Capital.
The financing will be used to increase customer acquisition efforts across the U.S., accelerate the introduction of new products, features and growth initiatives to serve the company’s mission to create the ultimate fan experience, and to build out its industry-leading management team. More information about FanDuel’s $275 million Series E financing can be obtained from the company press release.
The Fenwick transaction team was led by corporate partners Mark Stevens and David Michaels; corporate associates Brian Hicks and Ashley Walter and antitrust partner Mark Ostrau.