Tech entrepreneur Laurence Escalante acquires substantial holding in icetana.
icetana Limited (ASX:ICE “icetana” or “the Company”), a global software company providing artificial intelligence solutions to detect real-time anomalous events, is pleased to advise that tech entrepreneur and investor Laurence Escalante has become a substantial shareholder in the Company.
The acquisition was done through his family office, Lance East Office. The stake was acquired off-market from early stage investor Yuuwa Capital, whose venture capital fund first established in 2009 is approaching the end of its life. Yuuwa Capital Investment Director James Williams commented: “We are delighted to facilitate the addition of a shareholder of this calibre to icetana, Yuuwa’s remaining stake in icetana has been distributed in specie to its Limited Partners.”
icetana has progressed well on the launch of its updated product offering and the early feedback from prospective customers has been encouraging.
Mr Escalante this year ranked 35th in The Australian Financial Review’s annual Rich List, with an estimated wealth of $3 billion.
Chief Executive Officer Matt Macfarlane commented: “Yuuwa was icetana’s first investor and a strong supporter during the early stages of the business. We are very pleased to welcome the Escalante family office onto our share register and see many opportunities from working with a well funded shareholder such as the Lance East Office.”
Matt Macfarlane was a founding director of Yuuwa Capital, however he is no longer involved in the fund, had no direct involvement in the negotiation of this transaction and does not obtain any direct benefit from this transaction.
For further information contact CEO Matt Macfarlane on firstname.lastname@example.org