Deal: Who Gives A Crap has completed a Series A investment round led by Verlinvest.

Value: $41.5 million.

Area: Private equity, venture capital.

Key players: The Herbert Smith Freehills team was led by partner and head of venture capital Peter Dunne and co-head of venture capital (Australia) Elizabeth Henderson. 

The pair were supported by a team of lawyers across HSF’s Sydney, Melbourne and Brisbane offices. In addition, they worked with associated tax practice Greenwoods and Herbert Smith Freehills led by partner Toby Eggleston.

Deal significance: Who Gives A Crap was founded in 2012 by Simon Griffiths, Jehan Ratnatunga and Danny Alexander 

It’s described as an Australian “profit-for-purpose” company that manufactures toilet paper and other paper products and donates 50 per cent of its profits to projects that provide clean water, toilets, and sanitation products in developing economies, according to a statement from HSF, who noted this new capital “will be employed to fund the continued rapid growth and expansion of the company, helping accelerate their mission to provide everyone in the world with access to clean water and toilets”.

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Commenting on the investment round, HSF co-lead partner Elizabeth Henderson said: “Who Gives A Crap is a phenomenal business that is defining the model for the private sector driving social impact. Many people aren’t aware that something as basic as plumbing is actually critical to economic development”.

“Simon, Jehan and Danny have built an incredible business in its own right and, at the same time, are helping people across the world to live healthy lives and equipping them with the building blocks that will in turn facilitate business creation in those communities.”