Wolf Theiss has advised international tech investor TCV on its investment in Vienna-based travel start-up TourRadar, which was represented by Herbst Kinsky. Endeit Capital, Hoxton Ventures, and Cherry Ventures also formed part of the USD 50 million funding round, with Endeit Capital advised by Schoenherr.
TourRadar, which was founded in 2010 in Australia, is a travel website where travelers and tourists can book a group tour, as well as featuring user-generated reviews of individual tours. Based in Vienna, Austria, with service centers in Brisbane and Toronto, TourRadar, which offers more than 20,000 tours in over 200 countries, is the world's largest online travel agency for multi-day tours. The travel service ranges from safaris through Africa to bus tours through Europe.
According to Herbst Kinsky, "this investment is the largest in an Austrian start-up company so far this year. In 2017 the market leader for multi-day travel tours has already been able to collect EUR nine million from Dutch lead investor Endeit Capital and existing investors Hoxton Ventures Fund and Cherry Ventures."
The capital increase was registered in the Austrian Commercial Register.
According to Wolf Theiss, “TCV is one of the largest providers of capital to growth-stage private and public companies in the technology industry and has backed internet and software-leading companies such as Airbnb, Expedia, Facebook, LinkedIn, Netflix, Spotify, TripAdvisor & Co." The firm's press release also stated that "TourRadar intends to use the funding to expand its team globally and further invest in its technology platform providing personalized user experience in new and existing source markets across the globe."
Wolf Theiss’ team included Partners Andrea Gritsch, Hartwig Kienast, Roland Marko, and Associates Patricia Backhausen and Phillip Wrabetz. Other members of the Wolf Theiss team included Partner Leopold Hoher, Counsels Christine Siegl and Walter Poeschl, and Associate Lukas Pinegger.
The Herbst Kinsky team included Partner Philipp Kinsky, Attorney David Pachernegg, and Associates Florian Pollak and Felix Kernbichler.
The Schoenherr team included Partner Thomas Kulnigg and Associates Sascha Smets, Maximilian Nutz, and Teresa Waidmann.