Advising on EvolutionX's first investment in the GCC with a US$50m growth capital and debt investment in F&B tech leader Kitopi

We have advised Kitopi, the Middle East’s technology driven hospitality leader, and EvolutionX, the growth stage private credit platform established by Temasek and DBS Bank, on Kitopi’s latest growth capital round and debt financing.

Our Dubai-based Finance team, led by partner Ciaran Bohnacker and senior associate Szymon Durlo, advised on the Cayman Islands and British Virgin Islands aspects of the debt financing. Our Corporate team, headed by partner Reghard Smith with support from associate Akeem Robinson, advised on the respective elements of the equity raise. The team worked closely alongside Kitopi and EvolutionX's external counsel, Latham & Watkins and Baker McKenzie.

We are pleased to support Kitopi and EvolutionX on this milestone transaction, which marks EvolutionX’s first deployment in the GCC and supports Kitopi’s continued expansion across the Middle East, Europe and Asia as it scales its F&B brand portfolio and technology platform.

Commenting on the transaction, Ciaran Bohnacker said: ‘This significant investment reflects Kitopi’s strong performance, operational resilience and the confidence of global growth investors in its model. We were delighted to support both Kitopi and EvolutionX on the offshore elements of this landmark transaction.’