ICG Faces London Suit Over Tech Unicorn It Backed With Millions
- Workhuman investor seeking approval from court over share spat
- Company wants to repay debt and shed ICG equity stake
This article is for subscribers only.
Intermediate Capital Group Plc is facing a lawsuit in London over its stake in a tech firm it turned into a unicorn just three years ago.
Workhuman, an Irish-American tech company that makes software for employee reward programs, was valued at $1.2 billion after ICG bought a stake in 2020. Now one of the company’s other shareholders and the private equity firm are at loggerheads over an attempt to repay debt it owes ICG, in the process redeeming part of ICG’s stake in Workhuman.