January 2019

NBCUniversal, Comcast Ventures Complete Equity Investment in Acorns

United States - Pennsylvania

NBCUniversal and Comcast Ventures completed an equity investment in Acorns, a smartphone app focused on investments and financial literacy. Our firm acted as counsel to NBC and Comcast in the investment, which was part of Acorns’ latest $105 million Series E round, putting Acorns’ valuation at $860 million.

BlackRock, Bain Capital Ventures, TPG’s Rise Fund, DST and DBV Investments, L.P. also participated in the round. As part of the deal, the six-year-old company inked a partnership with CNBC that will include financial literacy content from the business network disseminated through its smartphone app.

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