Technology
Raising funds, investing and transforming the technology sector
Representative transactions include:
SoftBank’s Vision Fund (fundraising, structuring and advisory role): Centricus led the structuring and fundraising
for SoftBank’s Vision Fund, the largest fund raising in the asset management industry to date. The $100 billion
fund makes investments in the technology sector globally, with the Public Investment Fund of the
Kingdom of Saudi Arabia as lead investment partner alongside Abu Dhabi’s Mubadala.
OpenAI (strategic investment): Centricus participated in the $41bn Series F funding round ($301bn post-money valuation) and subsequent £6.6bn secondary tender offer ($500bn post-money valuation) of OpenAI, the world’s leading artificial intelligence company. Centricus raised two over-subscribed single-asset funds, demonstrating a commitment to transformative AI platforms and an ability to secure access to exclusive deals via relationships with key global technology investors.
Devoted Health (strategic investment): Centricus led the $366mn Series F funding round for Devoted Health, an all-in-one AI-native healthcare company that delivers end-to-end preventative care at lower cost and higher quality. In conjunction with Devoted's long-standing partners The Space Between (TSB), the funding round involved participation from new investors including Google Ventures; Morgan Health, a division of JPMorgan Chase; Franklin Venture Partners, a division of Franklin Templeton; and MIG Private Equity.
Virtualitics (strategic investment): Centricus led the second round of funding for Virtualitics, a data analytics and visualisation company based in Pasadena, California. Virtualitics merges artificial intelligence, big data and virtual/augmented reality to gain intuitive insights from complex data sets.
Exyn Technologies (strategic investment): Centricus led the Series A round, which raised $16 million, for Exyn Technologies, a spin-out of University of Pennsylvania’s GRASP Lab, using drones and ground-based robots to collect data from places where maps and GPS don’t exist. Funding will go toward commercial growth, expanding its global reach and developing offerings for customers in new industries.
Centricus completed a strategic investment in ClearForce, headquartered in Vienna, Virginia. The company delivers innovation to the employee risk management market through patent-pending technology.
Relativity Space (strategic investment): Centricus invested in the Fidelity-led $650m Series E funding round alongside sophisticated global investors including BlackRock, Coatue and Tiger Global. Relativity Space is an American aerospace manufacturing company that develops manufacturing technologies, launch vehicles and rocket engines for commercial orbital launch services. Relativity Space is the first company to 3D print an entire rocket, having built the largest metal 3D printer in the world.
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