Fenwick & West represented Baobab Studios Inc., a creator of virtual reality (VR) animation entertainment, in its $25 million Series B financing. The funding was led by Horizons Ventures with Twentieth Century Fox, Evolution Media Partners (backed by TPG and CAA), Shanghai Media Group, Youku Global Media Fund and LDV Partners. Original investors Comcast Ventures, HTC and Samsung also participated in the round.
The company will use the funds to develop more animated VR movies and grow Baobab on a global scale.
The Fenwick transaction team was led by corporate lawyers Mark Stevens, Dawn Belt, Lara Foster and Doug Sharp.