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Fieldfisher advises on £220 million of VC deals in 2019

Tech, life sciences and leisure opportunities were the leading recipients of VC funds across the firm's UK, Belgian, French, Irish and German offices last year. European law firm Fieldfisher advised on more than £220 million of venture capital and venture debt deals in 2019, led by brisk activity in the tech sector and robust interest in life sciences and leisure.

The firm’s robust VC performance came in a year when investment in UK scale-ups hit more than £9 billion, according to KPMG’s 2019 Venture Pulse Report, while European start-ups raised in excess of $36 billion (£27.7 billion) over the same period, data compiled by  Crunchbase show – a five-year high.

Deals the firm advised on ranged in value from £50,000 (€59,200) seed funding investments to €22.8 million (£19.3 million) growth capital injections.
Deal highlights included:
  • Advising UK video game publishing platform Coda Platform Limited on a US$5million seed preferred equity investment from London Venture Partners and high net worth angels;
  • Advising Belgian orthopaedic immobilisation device developer Spentys on completing a €100,000 equity funding round;
  • Advising Irish aerospace and industrial engineering company TEAM Accessories Limited on a €5 million funding deal from Irish government equity investor, BGF; and
  • Advising on a £15 million growth funding deal for a major new London visitor attraction.
Despite these positive figures, political uncertainty surrounding Brexit, which was heightened in the run-up to the UK General Election in December, had a noticeable dampening effect on economic confidence in all business areas last year.

Commenting on Fieldfisher’s VC deal activity in 2019, Tom Ward, a partner in Fieldfisher’s corporate M&A and VC group and one of Legal Week’s 40 under 40 Rising Stars in Private Equity 2019, said:

Our cross-sector VC team continued to advise and support high-growth innovative companies and investors throughout 2019.

Interest was noticeably buoyant in fintech and e-commerce, while we also saw noteworthy deals in artificial intelligence/automation and security technologies, especially cyber-security.

US investors continued to feature in our deal activity, particularly on the venture debt side, as did Asian investors, testifying to the increasingly international scope of our VC practice.

With the UK’s exit from the EU now decidedly in motion, we expect some pent up deal activity to play out in 2020.”

For the full summary and analysis of Fieldfisher's VC deals in 2019, please click here.
About Fieldfisher

Fieldfisher is an enterprising European law firm built around people. We have market-leading practices in our four key sectors of energy and natural resources, technology, financial services and life sciences.

The firm's cross-border corporate group is immersed in the European private equity and venture capital market at all stages, from seed stage and growth capital financings through to advising on leveraged buy-outs and exits.

Our teams are well-placed to provide integrated support across Europe and in each of our domestic markets.

Our network spans over 1500 people across 25 international offices, all of which offer clients highly commercial, pragmatic advice.

We are based in Belgium, China, France, Germany, Italy, Luxembourg, the Netherlands, Ireland, Spain, the UK and the US.

Fieldfisher was a highly commended firm in the European FT Innovative Lawyers Awards 2019.

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