Marriott Harrison has acted for Beringea LLP in connection with a growth funding investment into My 1st Years, the children’s gifts personalisation site.
The £5m round was led by Beringea, and supported with funds managed by Hargreave Hale. The investment will be used to drive developments in operations, marketing and international expansion into the US.
This is the latest in a series of investments for Beringea in retail and ecommerce. The venture capital firm has also recently invested in luxury watch reseller Watchfinder and men’s styling site Thread. Its diverse portfolio covers a range of other industries including digital media, business software and services and consumer products.
The team was led by corporate associate David Strong.
Corporate partner Jonathan Leigh-Hunt and corporate associate Frances Spooner advised Mobeus Equity Partners LLP on the investment into Preservica Limited (“Preservica”), a world leading provider of SaaS-based and on-premise digital software platforms which automate the preservation of digital content to ensure that information is accessible irrespective of future changes in technology. Mobeus provided an investment of £3 million to support the growth of Preservica, having first backed Tessella, a highly specialised consultancy which developed Preservica, in 2012. The Preservica business was retained by shareholders as it was carved out of the sale of Tessella just over a year ago in a deal which generated a return of 2.9x capital for Mobeus shareholders.
Trevor Hope, partner at Mobeus and new non-executive director of Preservica, commented “We are delighted to continue to back a world-class technology we’ve worked with for four years. Our deep, shared history means we already knew we had a very strong team in place and, following the sale of Tessella, we have been entirely focussed on maximising this opportunity, the scale of which is very significant indeed.”
Marriott Harrison LLP acted for Zeus Capital Limited and Northland Capital Partners Limited in their capacities as nominated adviser and broker and broker respectively to clinical stage pharmaceutical company Motif Bio Plc, which raised US$25m on an initial public offering of ADSs with warrants attached on NASDAQ and by an issue of new ordinary shares with warrants attached in Europe
This months Employment Bulletin is available to read here
We are delighted to have acted for Maven Capital Partners in connection with a £2m investment into Chic Retreats, the boutique hotel technology platform. Chic Retreats operates in the online B2B travel and tourism sector, providing a software solution to independent hotels. The investment will enable Chic Retreats to complete the development of its core technology platform, enhance its web and mobile offerings and expand its footprint into new geographies. Maven Capital Partners is a leading private equity fund manager, providing equity and loan finance to UK SMEs, including investment into VCTs. It manages a diverse range of client funds, including six VCTs. The team was led by corporate partner Ben Devons, with assistance from David Strong and Olga Ayers.