Law firm Addisons has acted as legal adviser to Nevada-based online gambling specialist fund, Discerning Capital, on the AUD$15 million Series A funding it led for Australian betting and media company, Picklebet.
On 28 November 2023, Picklebet closed their Series A round of financing, which was led by Discerning Capital.
The Addisons team advising Discerning Capital included Partners Jamie Nettleton and Daniel Goldberg and Special Counsel Robert Dooley.
Discerning Capital’s Managing Partner Davis Catlin commented, “Given our investment strategy is to invest into regulated gambling companies around the world, having a local partner on this transaction was of the utmost importance to us. Addisons came highly recommended, and we were extremely pleased with their diligence into the company, relevant regulations and structures in the Australian Market. We found their diligence to be thorough, their advice to be timely and enjoyed working closely with them to execute this transaction.”
Addisons Partner Jamie Nettleton said, “Addisons was delighted to act as legal advisers to Discerning Capital. The Picklebet funding indicates the continuing interest of overseas funds in Australian licensed gambling operators. In doing so, it was important that the investors understood the regulatory regime that applies to Picklebet (and their investment).”