Mayfair-, Hoxton-backed SuperAwesome sold to trade

A source close to the deal told Unquote that Mayfair achieved a 43% IRR on the deal. Mayfair is said to have acquired Epic Games shares in return for most of its minority stake in SuperAwesome, though the firm has not disclosed what percentage of SuperAwesome it still holds.

The transaction was sourced through the network of SuperAwesome's CEO, Dylan Collins, including a relationship with Epic Games' CEO, Tim Sweeney. The company's management team will stay on following the acquisition.

The company's most recent funding round, led by Microsoft's corporate venture arm in January 2020, valued it at more than £200m, according to a report by Sky News. Mayfair declined to comment on the current valuation.

Since 2017, there has been consistent speculation that the company would list on the stock exchange. In that year, City AM reported the company was considering an initial public offering on the London Stock Exchange that could have valued the company at £200m.

In April 2019, US-based banks were also exploring a possible listing in either London or New York that could have valued the company at $600m, according to the Sunday Telegraph.

Mayfair's investment in SuperAwesome was drawn from its debut fund, which closed on £400m in September 2016. The fund's only other realisation to date is the sale of Fox International to another US-based trade buyer, Lew's Holdings, for approximately £150m.

Previous funding
In January 2015, Hoxton Ventures provided expansion stage funding to SuperAwesome. Further funding came from Hoxton Irish Sub Fund.

Twenty Ten Capital, alongside Ibis TMT, led a $7m series-A investment in SuperAwesome in July 2015. The funding round also received support from Sandbox & Co, as well as existing investor Hoxton Ventures.

Mayfair Equity Partners purchased a minority stake in SuperAwesome in July 2017. News sources put Mayfair's investment at around £20m. The funding went towards the company's growth, particularly in the US, as well as the development of new client propositions, according to the source.

SuperAwesome raised $13m in a funding round led by Harbert European Growth Capital in February 2019. Other investors included Mayfair Equity Partners and Hoxton Ventures.

Microsoft Ventures' M12 fund invested an undisclosed amount of capital in SuperAwesome in January 2020. The Lego founding family was also reported to have invested in the round.

Company
Founded in 2012, SuperAwesome is based in London, with offices in New York, Sydney and Bangkok. SuperAwesome's Kids Web Services (KWS) platform is a parental consent management toolkit that is intended to make it easier for developers to include security services in software made for children. The company also offers AwesomeAds, which developers can use to offer monetisation inside their products directed towards children.

The company reported revenues of £21m in 2018, as well as an operating loss of £5.5m.

People
Epic Games – Tim Sweeney (founder, CEO).

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