Drake Star signs deal with Asia’s TC Capital to expand global reach

12 February 2020 Consultancy.asia 3 min. read
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TMC investment banking specialist Drake Star Partners has teamed up with Asia’s TC Capital in a strategic move to enhance access to each firm’s respective markets.

Global investment banking firm Drake Star Partners has formed a strategic partnership with Singapore-based financial advisory TC Capital to mutually facilitate global growth. The agreement is aimed at expanding access to each firm’s predominant markets; North America and Europe in the case of New York-headquartered Drake Star, and TC Capital’s strongholds of Southeast Asia and Hong Kong, the latter where the advisory operates a second office.

Established in Singapore in 2002 by Tommy Tan and Ravi Chidambaram – former executives at Morgan Stanley, Merrill Lynch, Deutsche Bank, Goldman Sachs, and Bear Stearns – TC Capital focuses on emerging, high-growth and mid-cap companies and private equity funds in the Asian market, including further afield in Greater China, Japan and India.  The firm provides services across four major lines; M&A, Corporate Finance, Private Capital Markets, and IPO Advisory.

“Our world is one of multi tech-hubs in various countries where firms from international origins become innovators and world leaders. TC Capital has built a strong network in Asia, in particular Southeast Asia, with their offices in Singapore and Hong Kong. We are delighted to announce this partnership, which will allow us to further unlock local and global tech transactions and investor opportunities,” said Marc Deschamps, Drake Star Partners’ Executive Chairman.

Drake Star signs deal with Asia’s TC Capital to expand global reach

A specialist provider to the Technology, Media and Communications (TMC) sector, Drake Star was itself established in 2016 through a merger of Redwood Capital and LD&A Jupiter (each in turn founded in circa. 2003-04), and today boasts a team of approximately 100 advisers across ten offices in North America, Europe and an Asian base in Tokyo. According to the firm, more than 70 percent of its business concerns cross-border TMC M&A and financing activities.

“In recent years, we have witnessed strong growth in cross-border mid-cap/growth tech transactions,” stated Deschamps, with the firm noting that Asian economies are growing increasingly open to overseas investment alongside local tech enterprises seeking international growth. “By partnering together, TC Capital and Drake Star aim to bridge the communication and investment gap, further enhancing cross-border opportunities for their respective clients.”

Chidambaram, who serves as TC Capital’s president, added; “We already have a strong cross border M&A track record, both in TMC and other industries, and this partnership with Drake Star will allow us to leverage our TMC client relationships in Asia and connect it to Drake Star’s superb tech client network and industry knowledge.” Among many other deals, TC served as exclusive advisor to Temasek on its S$5 billion real estate merger with JTC Corporation in 2015.

Drake Star Partners meanwhile among other high-profile transactions last year served as the exclusive financial advisor to game developer Codemasters in its acquisition of fellow racing games specialist Slightly Mad Studios, which has a Singapore base. The agreement with TC Capital is Drake Star’s second such deal in recent months, having in December expanded its reach in the Middle East in a signing with Dubai-based financial advisory firm Awad Capital.