Which teams/banks advise such large fundraising? Is it the PCA teams in Boutiques? The TMT teams in Banks? Some ECM team as it could be considered as pre-IPO?
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Why would they need advice?
OpenAI had MKlein and GS TMT for their huge one with Softbank, but that was a special case. Why do you think they need a banker to do a fundraise?
Same reasons why any company would mandate a banker? + sometimes complex shareholders base, incentive structure, share classes etc
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