International law firm Simmons & Simmons has advised leading investment management firm Lansdowne Partners on the launch of its new venture capital and scale-up fund. The fund will focus on scaling high potential UK companies, emerging from the university research and start up ecosystem, whose intellectual property may be undervalued.
The fund has held a first close of $150 million and is expected to hold a second and final close in December. The fund has launched with strong institutional investor backing, bringing new long term support for UK scale ups.
The fund is expected to provide capital at levels significantly above those typically available in the market, working closely with founders to scale defendable intellectual property and bridge the gap between early stage innovation and global commercial success, with a fundamental focus on returns.
Lansdowne Partners has previously been an early backer of many of the UK’s most important innovation platforms over the last two decades, and has been a major early investor in several UK scale up successes, six of which have already reached unicorn status.
The Simmons & Simmons team advising Lansdowne Partners was led by UK Partners Dan Faundez (Private Funds), Camilla Jessel (Financial Services Regulation) and Martin Shah (Financial Services Tax), with senior associate support from Nick Dashfield and Jonny Corrie.
Commenting on the launch, Dan Faundez said: “Lansdowne have successfully navigated a first close in a difficult fundraising environment, which is testament to the Fund’s thesis and Lansdowne’s track record. The fund is launched at a pivotal moment for innovation and growth in the UK economy. It was a pleasure supporting the Lansdowne team.”
Daniel Jordan, Partner, General Counsel & Chief Compliance Officer: “We worked closely with the Simmons & Simmons team across all aspects of the fund launch. Their depth of experience and collaborative approach were greatly valued, particularly in navigating a complex execution process.”
