M&A Deal Summary

Antarctica Capital Acquires Descartes Labs

On August 4, 2022, asset manager Antarctica Capital acquired software company Descartes Labs from Crosslink Capital

Acquisition Highlights
  • This is Antarctica Capital’s 1st transaction in the Software sector.
  • This is Antarctica Capital’s 3rd transaction in the United States.
  • This is Antarctica Capital’s 1st transaction in New York.
Investment Fate
  • Descartes Labs was sold to a strategic buyer in 2024.

M&A Deal Summary
Date 2022-08-04
Target Descartes Labs
Sector Software
Buyer(s) Antarctica Capital
Sellers(s) Crosslink Capital
Deal Type Secondary Buyout

Target

Descartes Labs

New York, New York, United States
Descartes Labs offers customers an accelerated ability to address operational needs by transforming the world's data into actionable and predictive insights that impact climate change, sustainability, and food security, and safeguard natural resources at the speed of relevance. Descartes Labs was founded in 2014 and is based in New York City.

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Buyer(S) 1

Buyer

Antarctica Capital

Category Asset Manager
Size Small
Type Sector Agnostic
DESCRIPTION

Antarctica Capital LLC is a global investment firm dedicated to investments in infrastructure, real estate, and financial services. Antarctica Capital is based in New York City with additional offices in Los Angeles, Mumbai, and London.

DEAL STATS #
Overall 3 of 4
Sector (Software) 1 of 1
Type (Secondary Buyout) 2 of 2
State (New York) 1 of 1
Country (United States) 3 of 4
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-30 InterPark

Chicago, Illinois, United States

InterPark is the largest owner-operator of parking infrastructure in the United States. They own 57 parking garages and several surface lots in 13 U.S. states and the District of Columbia that in the aggregate comprise more than 49,000 parking spaces. InterPark is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-01 Midwest Holding

Lincoln, Nebraska, United States

Midwest Holding is a unique cross-disciplinary team of insurance, technology, and investment professionals building innovative businesses at the intersection of insurance and technology. Its mission is to advance the insurance value chain with technology and services that reduce cost, increase value, and provide a better experience for partners and customers. Midwest Holding was founded in 2003 and is based in Lincoln, Nebraska.

Buy $100M

Seller(S) 1

SELLER

Crosslink Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1989
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Crosslink Capital is a growth-oriented investment firm focused on technology companies. Crosslink's typically invests in early-stage companies, however, the Firm will consider opportunities at every stage, from seed to pre-IPO to PIPE offerings. Sectors of interest include communications/infrastructure services, core technology, semiconductors, internet, and software. Crosslink Capital is based in San Francisco, California.

DEAL STATS #
Overall 59 of 60
Sector (Software) 10 of 10
Type (Secondary Buyout) 4 of 4
State (New York) 2 of 3
Country (United States) 58 of 59
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-12 Brace

Culver City, California, United States

Brace is a digital mortgage-servicing platform that developed a modular, digital platform for mortgage servicing that not only improves the customer experience but reduces the cost to service delinquent borrowers in loss mitigation. Brace was founded in 2017 and is based in Culver City, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-14 Clyde

New York, New York, United States

Clyde is an extended warranty startup that wants to help small e-commerce businesses offer product protection. Clyde was founded in 2017 and is based in New York City.

Sell -
Mergr

Product

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