SEC Newgate S.p.A. announced that it entered into definitive agreement, and it will receive around $100 million in an equity round of funding on July 3, 2023. The transaction includes participation form new investor Investcorp Holdings B.S.C. for majority stake in the company. The transaction will be raised at a post-money valuation over $250 million.

The transaction is expected to close between the third and fourth quarters of 2023. As part of the transaction Nicola Ferraris, Investcorp Holdings B.S.C. managing director, will join the board of company. The company?s other shareholders will roll over 100 per cent of their equity investment as part of the transaction.

The transaction remains subject to customary regulatory and other closing conditions.