Matrix, Valara invest $150m in New Zealand's Xero
New Zealand-based online accounting software company Xero has raised a NZ$180 million ($150 million) round from existing backers Matrix Capital Management and Valara Ventures. The transaction was priced at $15.10 per share for 9.92 million shares - representing 8% of the shares on issue after the raise.
Matrix and Valara - which is backed by Peter Thiel, an early investor in PayPal and Facebook - previously committed NZ$60 million to the company in November last year. Prior to that, Valar had also been...
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