Skip to content

Swvl Inc. Announces Business Combination With Queen's Gambit Growth Capital

Swvl Inc. Announces Business Combination With Queen's Gambit Growth Capital Background Image

Vinson & Elkins advised Queen’s Gambit Growth Capital, the first special purpose acquisition company entirely led by women, in a definitive agreement for a business combination with Swvl Inc. (“Swvl”), a Dubai-based provider of transformative mass transit and shared mobility solutions, that would result in Swvl becoming a publicly listed company.

The transaction is to provide gross proceeds of up to approximately $445 million to the combined public company, including an upsized $100 million fully committed common share PIPE, led by global strategic and financial investors including Agility, Luxor Capital Group and Zain.

The V&E corporate team was led by partners Caroline Blitzer Phillips, Brenda Lenahan and Ramey Layne with assistance from associates Mariam Boxwala, Heather Brocksmith, Joe Milano, Alice Zhang, Victoria Bahrami-Negad, Waid Barfield, Julie Bontems, Nicole Cerullo and Tara Tegeleci. Also advising were partners Lina Dimachkieh and David Peck, senior associate Brian Russell and associates Jacob Walley and Olivia Sher; partner David D’Alessandro, senior associate Missy Spohn and associate Matt Green; partner Sean Becker and associate Peter Goetschel; partner Emilie Stewart and trainee solicitor Martin Bontea-Ungureanu; partners Fry Wernick, Jeff Johnston and Dave Johnson, counsel David Smith, senior associate Brian Howard and associates Alison Harmes, Tom Mitsch and Tyler Blake; partner Devika Kornbacher and associate Briana Falcon; counsel Sarah Mitchell; partner Maggie Peloso and associate Austin Pierce; and senior associate John Hughes and associate Arabella Robinson.

About Vinson & Elkins
For more than 100 years, Vinson & Elkins has provided deep experience in handling transactions, investments, projects, and disputes worldwide. The firm is a trusted adviser to clients in the most important industrial and digital industries. Learn more by visiting www.velaw.com or follow us on Twitter @VinsonandElkins or connect with us on LinkedIn.

For more information, please speak with our media contacts.