Venture & development capital

Venture & development capital

"The Shoosmiths team again did a fantastic job on advising us on this investment."

Tim Whittard

Investment director, Business Growth Fund

Shoosmiths LLP is one of the most active law firms in the VC market, advising on nearly 100 institutional backed deals last year and high profile exits including Touchtype's sale to Microsoft.

We specialise in providing commercial and pragmatic solutions to meet clients' aims and are market leaders for VCT/EIS transactions, developing solutions for investors, entrepreneurs and management teams which others assume are not achievable.

Shoosmiths is one of the few full-service law firms in the VC sector to have a national presence in the major markets of London and the South East, Thames Valley, Midlands and North-West, giving our clients the benefits of accessibility, strong market connections and fresh thinking.

Shoosmiths is an active member of both the EIS Association and the BVCA and also advises clients on responses to Government consultations in the EIS/VCT arena. In terms of the EIS Association we are a member of their Tax and Technical Committee and therefore feed-into discussions with HMRC and HM Treasury on behalf of investors in order to ensure that HMRC are interpreting the EIS rules in the way that Parliament intended.

Sample deals include advising:

  • Octopus Ventures, one of Europe's most active VCs, on over 50 transactions in the last year, including exits such as the significant sale of artificial intelligence business Touchtype to Microsoft and the listing of Eve Sleep, the $60m co-investment in the luxury travel dealer Secret Escapes with Google Ventures, and the #10m investment in Dutch healthcare startup myTomorrows.
  • Business Growth Fund on multiple investments including into aviation business Reconnaissance Ventures and automotive parts business Sertec.
  • Pattern Analytics Limited, a biotechnology company, on its £4m funding round from Mobeus Equity Partners to use as growth financing.
  • Oxford Capital Partners on its investment into innovative ISA provider, Digital Moneybox. Cambridge based AI business, Speechmatics, on its substantial investment from IQ Capital and Amadeus Capital to accelerate the commercial roll-out of its speech recognition products.
  • Duvas Technologies Limited, a developer of air quality monitoring systems, on a substantial venture capital investment by Calculus Capital.
  • Oakfield Capital Partners on multiple investments including into London Doctors Clinic and Liberty Brewing.
  • Downing LLP on the £3m investment secured by the family-owned luxury e-commerce business, Xupes, from Downing managed funds

International Angle

In an increasingly global investment market we have also acted on a number of investments into companies incorporated in Ireland, Lithuania, US, Switzerland and Sweden providing complex EIS and VCT structuring advice to ensure that the investments benefit from EIS and VCT reliefs despite the companies not being incorporated in the UK. This has opened up significant new markets to EIS and VCT investors and enhanced Shoosmiths' clients' reputation in the EIS and VCT arena by being able to deliver EIS and VCT qualifying deals in overseas companies.

Download our article: Artificial Intelligence: the investment of today and beyond

 

Shoosmiths is a judge at the 2017 Investor Allstars Awards and sponsor of the Investor of the Year category. In 2016, Shoosmiths was shortlisted at Investor Allstars Awards 2016 as Service Provider of the year.

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