Dragoneer Investment Group co-leads C$750 million equity financing for Wealthsimple Technologies Inc.

Goodmans LLP acted as Canadian counsel for Dragoneer Investment Group in connection with its investment in Wealthsimple’s C$750 million equity financing round. Dragoneer and Singapore sovereign wealth fund GIC co-led the financing, which secured a C$10 billion post-money valuation for Wealthsimple.

The equity round includes both a $550 million primary offering and a secondary offering of up to $200 million. The capital raised will accelerate Wealthsimple’s growth by developing its products in investing, spending, and credit, and also by pursuing strategic opportunities to make the platform more valuable for Canadians. Other investors include new investor Canada Pension Plan Investment Board, and existing investors Power Corporation of Canada, IGM Financial Inc., ICONIQ, Greylock and Meritech.

Dragoneer Investment Group is a San Francisco–based, growth-oriented investment firm with over US$30 billion under management and a flexible mandate to invest in high-quality businesses in both the public and private markets.