November 04, 2021
Mojito, a new NFT commerce suite, announced it has raised US$20 million in its first funding round with a valuation of US$100 million. With strategic investments from Sotheby’s, the world’s premier destination for art and luxury, and Connect Ventures, an investment partnership between leading entertainment and sports agency Creative Artists Agency (CAA) and global venture capital firm New Enterprise Associates (NEA), Mojito is out of stealth and bringing to market an end-to-end commerce suite for selling digital goods.
As part of the transaction, Mojito has partnered with Sotheby’s and Creative Artists Agency. Concurrently, Sotheby’s announced it is using the Mojito technology to power the recently launched Sotheby’s Metaverse, a dedicated marketplace for rare and extraordinary NFTs at Sotheby’s.
Latham & Watkins advises Mojito in the investment and partnership. The corporate deal team was led by New York partner Peyton Worley, with New York associates Teddy Ellison and Samuel Dillard. The technology transactions team was led by Los Angeles partner Ghaith Mahmood, with Los Angeles associate Heather Lui. Advice was also provided on tax matters by Century City partner Pardis Zomorodi and Bay Area partner Jay Metz.