Fenwick represented Databricks, a data and AI company, in its $1.6 billion Series H financing. The round was led by Counterpoint Global (Morgan Stanley) and puts Databricks at a $38 billion post-money valuation.
Counterpoint Global is joined by other new investors including Baillie Gifford, ClearBridge Investments and UC Investments (Office of the Chief Investment Officer of the Regents of the University of California). Existing investors participating in the round include Andreessen Horowitz, funds and accounts managed by BlackRock, Canada Pension Plan Investment Board (CPP Investments), Coatue Management, Fidelity Management & Research, Franklin Templeton, GIC, Greenoaks, Octahedron Capital, funds and accounts managed by T. Rowe Price Associates, Inc., Tiger Global Management and Whale Rock Capital Management.
This new round of financing will be used to accelerate the company’s lead in the rapidly growing data lakehouse market. More information can be obtained from Databricks’ announcement.
The Fenwick transaction team was led by corporate partners Michael Brown and Patrick Grilli and included associates Ari Haber, Angela Park, Peter Li and Leeza Soulina.