Fenwick & West represented Raine Ventures, the investment arm of The Raine Group, a global merchant bank focused exclusively on technology, media and telecommunications, in leading a $22 million Series D financing in Cheddar, a leading, live, Post-Cable Network. All existing investors, including Lightspeed Venture Partners, Comcast Ventures, AT&T, Altice USA, The New York Stock Exchange, Ribbit Capital and Amazon participated in the round. New investors in the company included Liberty Global, Goldman Sachs, Antenna Group, 7 Global Capital, Dentsu Ventures and the family office of Kelly Loeffler and Jeff Sprecher.
Cheddar will use the capital to launch its second live news network and to fuel domestic and international expansion. More information regarding Raine’s leading a $22 million financing in Cheddar can be obtained from the company announcement.
The Fenwick transaction team was led by corporate lawyers Ian Goldstein, Brian Hicks, Allison Cooper, Feihong Xu and Jason Parkin.