General Atlantic Leads Series B Investment in Acesso Digital, Alongside SoftBank

Paul, Weiss is representing funds affiliated with General Atlantic LLC in its investment, together with the SoftBank Latin America Fund, in Acesso Digital, a Brazilian technology company specializing in digital identity authentication solutions, including facial recognition, remote hiring and electronic signatures. The $108 million (R$580 million) funding round represents the largest Series B investment received to date by a software-as-a-service (SaaS) company in Latin America. Pursuant to the terms of the investment, General Atlantic and SoftBank will each gain a seat on Acesso Digital’s board.

The transaction is expected to close within the next month.

The Paul, Weiss team includes, among others, corporate partner Matthew Abbott; tax partner Lindsay Parks; and litigation counsel Rachel Fiorill and Peter Jaffe.