On September 13, 2023, Denodo, a leader in data management, and TPG, a global alternative asset management firm, announced that they have signed a definitive agreement for TPG Growth, the firm’s middle market and growth equity platform, to invest $336 million in Denodo’s Series B preferred equity. The transaction, which includes both primary capital and a secondary sale of shares by HGGC, held its initial closing on October 16, 2023. HGGC, which invested in Denodo’s Series A investment round in 2017, will remain a significant investor.

Wilson Sonsini Goodrich & Rosati advised Denodo on the transaction. The Wilson Sonsini team included corporate attorneys Mark Baudler, Lianna Whittleton, James Babikian, Amaan Shaikh, and Katie Obermiller and paralegal Joan Moses.

For more information, please see Denodo's press release. Further coverage can be found at Reuters and Law360 (subscription may be required).