Milbank LLP advised luxury watch marketplace WatchBox, a leading global e-commerce platform for buying, selling and trading pre-owned luxury watches, on its fundraising round that raised US$165 million of equity capital. WatchBox will invest the capital to further scale its digital platform, expand into new markets and enhance its inventory selection.
Lead investors in the fundraising included The Radcliff Companies and The Spruce House Partnership. Additional investors included CMIA Capital Partners and other existing investors such as entrepreneurs and executives including US professional basketball players Giannis Antetokounmpo, Chris Paul, Karl Anthony Towns and Devin Booker, as well as Michael Jordan, Marc Lasry, Bill Ackman and Michael Strahan, among others.
“We are pleased to have advised WatchBox on its latest fundraising efforts,” said Jacqueline Chan, partner in Milbank’s Singapore office. “Interest from these high-profile investors is further testament to WatchBox’s prominence and leading position in the luxury watch market, and the success of this funding round will contribute to WatchBox’s continued exponential growth.”