InvestNext, a Detroit-based investment platform that facilitates the life cycle of real estate investments between investors and real estate firms, recently closed on an $8.25 million Series A capital round. Whitecap Ventures led the round with participation from Detroit Venture Partners, Hyde Park Venture Partners, Grand Ventures and ID Ventures.
Varnum represented InvestNext in the matter. Led by Mallory Field and assisted by Jake Whatley, Varnum negotiated the stock purchase agreement and other legal documents.
InvestNext originally came to Varnum in 2020 as a MiSpringboard client. Varnum helped the company convert to a Delaware corporation and has provided a variety of legal services since then, primarily assisting with capital fundraising including both Series Seed and Series A financing rounds.
InvestNext serves as a centralized source for real estate investors, providing a user-friendly, streamlined experience when raising, managing and transacting capital. Sponsors on InvestNext currently manage over 60,000 investments and billions of dollars in transactions on the platform each year.
“The current market is a challenge for many of our customers and across the industry. Our focus is on being a good partner to sponsors on our platform and continuing to make their lives easier through best-in-class technology,” said InvestNext CEO, Kevin Heras. “We are on course to become a common platform for real estate investment, and the first step towards that goal is to build trust which happens in the most challenging times.”