- G Squared Ascend and Transfix has announced the mutual termination of their previously announced business combination agreement due to current public market conditions.
- Concurrently, G Squared and New Enterprise Associates will lead a private round of investment to support Transfix's continued growth.
- As part of this financing, G Squared's Founder & Managing Partner, Larry Aschebrook, will join Transfix's Board of Directors.
- "We are confident in Transfix's long-term future, and look forward to our continued partnership throughout their next chapter of growth as a pioneer of the modern supply chain." said Carmen Chang, General Partner, NEA.
For further details see:
G Squared and Transfix to terminate business combination agreement