Xurpas enters venture-backed tech space in US | Inquirer Business

Xurpas enters venture-backed tech space in US

By: - Business Features Editor / @philbizwatcher
/ 05:10 AM November 08, 2019

Technology firm Xurpas Inc. has found a gateway to the vibrant US technology investing arena with a deal to take over Los Angeles-based venture capital management firm Wavemaker Partners US, one of the most active venture capital firms in Southern California.

In a disclosure, Xurpas said the acquisition would not affect its cash position post-transaction. As part of the deal, the general partners of Wavemaker US would also be subscribing to a total of 1.7 billion unissued shares, for a 48-percent stake, in Xurpas.

With over $210 million worth of assets under management, Wavemaker US has invested in over 230 tech companies since its inception in 2003. It focuses on high impact tech areas such as enterprise software, data and intelligence platforms and other technology-enabled companies in digital media and consumer.


Some of the more prominent investments Wavemaker US had made in the last several years were: Mindbody, which went public and was eventually acquired by Vista Equity for $1.9 billion; StyleHaul which was acquired by RTL for over $200 million; and Viagogo which had become the largest ticketing exchange outside of the United States.

“Some of the most innovative and iconic companies of our time are venture-backed companies. Through Wavemaker US, Xurpas shareholders can now participate in the significant potential upside from investments in the early-stage technology space,” Xurpas chair Nix Nolledo said in a press statement.

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TAGS: Wavemaker Partners US, Xurpas Inc.

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