NEW YORK, December 15, 2023 – Proskauer, a leading international law firm, announced today that it advised RockPort Capital Partners (“RockPort”), a multi-stage venture capital firm that invests in the areas of alternative energy, mobility and sustainability, on the formation and closing of a multi-asset continuation fund, RockPort Capital Partners III Continuation Fund, L.P. ("the Fund”). Blue Earth Capital AG, a global, independent, specialist impact investor, served as the lead investor in the Fund.
Through the Fund, Rockport will acquire stakes in two of its existing portfolio companies – agriculture technology company NewLeaf Symbiotics, Inc. and battery intelligence software provider Qnovo, Inc. – while providing a liquidity option to existing limited partners in its 2008 vintage fund, RockPort Capital Partners III (“RCP III”).
The Fund provides RockPort with an extended timeline and allows the GP to continue overseeing the next phases of growth at the portfolio company level. As part of the transaction, existing investors in RCP III were provided with the option to take full liquidity or reinvest into the vehicle.
The Proskauer team advising RockPort was led by partner Chris Robinson and associate Corey Dietrich (Private Funds). It also included partner Robert Sutton, senior counsel Natalie Scott and associates Kevin Beckoff, Joseph Salvatore, Yuna Choi and Brianna Arscott Grant (Private Funds); partners Jamiel Poindexter and Janicelynn Park and associates Bowon Koh and Philip Lenertz (Tax); partner Lauren Boglivi and associates Timothy Kim and Thomiah Dudley (Mergers & Acquisitions); partner Adam Scoll (Employee Benefits & Executive Compensation); and partner John Ingrassia (Antitrust).
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