Permira Completes LegalZoom InvestmentTuesday, February 18, 2014
London private equity firm Permira has a $200 million investment LegalZoom.com Inc., making it the largest shareholder of the Glendale legal services company.
The equity financing will be used to expand the business of LegalZoom, which last month announced it would not seek pursue an initial public offer, instead opting for an equity financing.
Permira gains the power to appoint most of the company's board, but LegalZoom’s management team and its early venture partners maintain most of their ownership stakes. Kleiner Perkins Caufield & Byers maintained its entire stake, while Polaris Venture Partners maintained a portion of its stake.