A team from Nelson Mullins Riley & Scarborough LLP represented RX Ventures in the recent $25 million investment round of US-based retail media startup Topsort. The team, led by Nelson Mullins partner Leandro Molina and associate Rebecca Lester, closed the follow on investment on behalf of client RX Ventures, the venture capital fund for Lojas Renner S.A., a publicly traded Brazilian company. The investment by RX Ventures, published on July 16, 2024, was part of an extension of the $20 million Series A financing round closed earlier in the year.

Topsort specializes in digital media solutions for retailers using artificial intelligence (AI). The funding will help fuel the company’s mission of accelerating the clean advertising revolution, which is free of third-party cookie tracking and invasive privacy sharing data. Founded in 2021, Topsort serves clients in more than 30 countries.

The investment by RX Ventures spurred a strategic partnership between Topsort and Lojas Renner. Lojas Renner is the “first fashion and lifestyle retailer in the world to invest in Topsort," says Daniel Santos, CFO and Investor Relations Officer of Lojas Renner.

Molina has nearly 20 years of experience working as a corporate finance attorney. He represents start-ups, emerging companies and investors in corporate matters, mergers and acquisitions, and financing rounds in all tech sectors. He also advises foreign clients accessing the U.S. market, as well as to U.S. companies and funds investing in Latin America. He is dual-qualified in the USA and Brazil (New York and São Paulo) and is a Foreign Legal Consultant in Florida.

Lester advises multinational corporations, emerging growth companies, and venture capital investors in a variety of transactions, including private equity, financings, mergers and acquisitions, and general corporate matters. Her practice focuses primarily on cross-border transactions, especially with LatAm entities and investors.