Herbert Smith Freehills Kramer (HSF Kramer) has advised Firmus Grid on its recent US$2 billion strategic investment funding round.
The round included follow-on participation from Coatue and NVIDIA, alongside new investments from Blackstone and Jane Street
HSF Kramer has now advised Firmus on more than USD$3 billion equity raised in the past 12 months. The latest round puts the company’s post-money valuation above US$10.5 billion.
Firmus Grid is an Australian company that is a global leader in integrated, ‘liquid-everywhere’ AI factories and the provision of GPU-as-a-Service to global hyperscalers and other major customers. The new capital will fund the expansion of Firmus Grid’s flagship AI infrastructure initiative.
The HSF Kramer team was led by partner Stephen Dobbs, primarily supported by solicitor Zoe Feldman (currently on secondment with Firmus in Sydney).
Stephen Dobbs said, “The pace of growth in this sector continues to astonish. Thanks once again to the Firmus team for trusting us to help them with such market-leading transactions.”
Other recent examples of HSF Kramer’s roles on Australian equity raisings in the digital infrastructure and emerging tech sectors include:
- PsiQuantum on the $1 billion Australian Government investment in its project to build the world’s first utility-scale quantum computer in Brisbane, Australia.
- Consortium of private capital investors on their bid as part of the auction process for Airtrunk.
- HMC Capital on the A$2.75 billion IPO of DigiCo Infrastructure REIT. This was Australia’s largest IPO in 2024.
- ANZ on the D&C contract for the Tullamarine and Mt Waverley Data Centres.
- HRL Morrison & Co in relation to its A$350 million proposed majority acquisition via Infratil Limited (NZX/ASX:IFT) from a leading telecommunication company, HKT Limited, of its global network connection and NaaS business, Console Connect.
- AustralianSuper on its $2.5 billion deal with DigitalBridge Group to acquire a significant minority stake in Vantage Data centres EMEA.
- Kmart in respect of a competitive tender process for a major digital infrastructure transformation project.
- DigitalBridge on its investment into Edge Data Centres Pty Ltd.
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