Global law firm White & Case LLP has advised A15, a leading tech investment fund, on its sale of a 76 percent stake in its United Arab Emirates-based fintech company TPAY Mobile FZ-LLC (TPAY) to Africa's leading private investment firm Helios Investment Partners.
"White & Case has a strong track record advising on tech and private equity transactions, and on M&A deals in the Middle East," said Dubai-based White & Case partner Marcus Booth, who led the Firm's deal team. "Our support ensured that A15 successfully completed a landmark deal, becoming the first fund in the Middle East and North Africa to create a Dragon – an investment that returns the entire value of the fund when exited – from one of its investments."
Established in 2015 by Accelero Capital, the A15 Fund invests in digital products and technology brands with a focus on opportunities for growing the digital world in the Middle East. Established in 2014, TPAY is the fastest growing direct carrier billing (DCB) provider in the Middle East and North Africa (MENA). It was the first open mobile payment platform to be launched in the MENA region, and today commands the largest market share (80 percent) in the DCB space across 16 countries, with a total reach of 673 million users.
The White & Case team which advised on the transaction was led by partner Marcus Booth (Dubai) and included partner Allan Taylor (London), association partner Said Hanafi (Cairo) and associates Adnan Bekdur, Vasi Papadopoulos, Aleksandra Stadnik (all Dubai), Malak el Shishiny (Cairo), Paul Harrington and Olivia Chinwokwu (both London).
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