Venture capital

We know how to help you get the best outcome for your venture capital investment. Our commercial approach, extensive experience and competitive fee package ensure we deliver your investments on time, within budget and with a minimum of drama.

Helping you to manage venture capital or equity funding

We advise on all aspects of venture capital or equity funding and can guide you through every stage, whether you’re an investor or investment fund, or a management team looking for funding.

Our venture capital team has extensive experience advising investors on their investments, and on the funds themselves – from fund creation and structuring to innovative carried interest arrangements. We can assist with portfolio investments, from early stage, angel and seed financings to later stage syndicated multimillion-pound fundraisings, as well as on portfolio management and company exits.

In addition to advising investors, we work with lots of technology businesses on their equity fundraisings, whether they are spin-out or start-up companies or growing businesses seeking Series B or C financings and beyond.

This gives us an in-depth understanding of the investment processes and documents involved. It also gives us a strong appreciation of typical investor practices and terms, as well as a genuine understanding of the issues that tend to arise and the usual pressure points in deal negotiations, ultimately saving you time and money.

Our lawyers

  • You will have a team of 13 lawyers to call upon. 
  • You’ll also have access to our range of specialists in areas such as tax, intellectual property and employment law, ensuring you get a holistic, complete service.

Our experience

Our extensive venture capital experience includes: 

  • Bicycle Therapeutics Limited: a spin-out of the Medical Research Council’s Laboratory of Molecular Biology, Cambridge. We advised on its £20 million syndicated venture capital fundraising from existing investors Atlas Venture, Novartis Venture Fund, SR One (GlaxoSmithKline's independent venture capital fund) and SV Life Sciences and new investor, Astellas Venture, the venture capital arm of Astellas Pharma, Inc. 
  • Molecular Products Group Limited: a developer and supplier of air purification technologies. We acted on its £4m growth investment by Business Growth Fund. 
  • Inivata Limited: a spin out from Cancer Research (UK). We advised on its £4m funding round from Imperial Innovations, Cambridge Innovation Capital and Johnson & Johnson Development Corporation.
  • North West Fund for Biomedical: we act for the North West Fund (Biomedical) LP, a £25 million ERDF and EIB financed fund established to invest in SMEs in the biotech and biomedical fields in the North West of England in relation to preparing its template investment documents and a range of portfolio investments in companies including Bioxydyn, Cytox, Incanthera and Evgen. 
  • IQ Capital Partners: we advised on the set up and structuring of their £25 million Enterprise Capital Fund (ECF), IQ Capital Fund I LP, which invests in early stage technology businesses, and on its investments, portfolio management issues and exits. We have recently advised on their £60m ECF, IQ Capital Fund II LP, which had a first close at £40m and continues to fundraise.
  • Mercia Fund Management: we advise these dynamic fund manager based in the West Midlands which has over £24 million of early stage funds under management on their fund creation and structuring and portfolio investments work. Most recently, we have helped them on the AIM listing of their parent, Mercia Technologies PLC and fundraising of £70 million which is to be applied for growth capital direct investments in later stage technology companies. 
  • Low Carbon Innovation Fund: we exclusively advise Turquoise International Limited, the manager of the Low Carbon Innovation Fund, a £12.5 million ERDF supported venture capital fund, which matches against at least £17 million of private investment, focusing on investments in SMEs developing new and innovative products or processes in a low carbon, environmentally sensitive manner. We have advised on over 30 investments out of its main fund and over 10 investments from its small investments fund.
  • Sphere Fluidics Limited: an early-stage, Cambridge-based company focusing on developing novel products and services for single cell analysis. We advised on its £1.65 million syndicated fundraising from led by 24 Haymarket and including the Royal Society, Cambridge Enterprise Limited, Providence Investment Company Limited, University of Cambridge Enterprise Fund, the London Business Angels. Roundtable EIS Fund and a number of individual angels from London (including members of the London Business Angels) and Cambridge.
  • University of Cambridge Enterprise Fund: we helped with the creation of its EIS funds set up in collaboration with Parkwalk Advisers Limited. We have also advised on the fund’s various portfolio investments.

Our clients include:

  • Cambridge Enterprise Limited (Cambridge Enterprise Seed Funds/EIS Funds) 
  • IQ Capital Partners LLP (IQ Capital Fund I, IQ Capital Fund II)
  • Mercia Fund Management Limited (Mercia Technology Funds) & Mercia Technologies PLC (AIM listed)
  • Metalysis Limited 
  • Secret Escapes Limited 
  • SPARK Impact (North West Fund (Biomedical) LP) 
  • Turquoise International Limited/University of East Anglia (Low Carbon Innovation Fund)
  • Bicycle Therapeutics Limited

What our clients and others say about us 

  • “This ‘customer-focused’ team has a strong reputation for early-stage venture capital deals.” Chambers UK
  • “Venture capital head Zickie Lim's key attributes are ‘speed, imagination and the ability to help lead transactions’.” Chambers UK 
  • We are pleased to have won Corporate Law Firm of the Year and led the Deal of the Year, both as voted for by our peers at the Insider Central and East England Dealmaker Awards 2012.

Legal resources you may find useful

  • LaunchPAD: Free information for entrepreneurs and start-ups, covering everything from raising finance to setting up a company structure and understanding employment, tax and commercial law. 
  • Technology Law Update: Updates, opinions and the latest UK technology law news in a blog by our technology lawyers. 
  • HR Law Live: Our employment law blog written by our team of specialist employment lawyers, with regular commentary on the latest legal and policy updates affecting those with human resources responsibilities.