Accelerated Digital Ventures’s launch of evergreen venture platform for digital business

DLA Piper has advised Accelerated Digital Ventures (ADV) on the launch of a new tech venture platform that will fund all stages of the digital technology business lifecycle, from entry to exit.

The platform is being funded by ADV’s three institutional investment partners, the British Business Bank, Legal & General plc and Woodford Investment Management.

ADV plans to deploy an initial £150 million in investment to help British tech businesses to startup, scale and succeed, with the long-term aim of using this platform to invest upwards of £200 million every year into UK-based businesses.

ADV will inject evergreen patient capital at early stage (via microfunds, accelerators and incubators), growth stage (Series A), and late stage (Series B, C and beyond). It will also deploy funding and expertise to accelerate the scaling of its portfolio companies.

DLA Piper has been working with the ADV founder team from inception of the concept three years ago and advised ADV on all aspects of the current transaction.

The DLA Piper team was led by Jon Kenworthy (Picure) and included Corporate associate Dylan Kennett (Corporate), Funds partner James O’Donnell and Head of Financial Services Regulatory, Michael McKee.

Involved fees earner: Jon Kenworthy – DLA Piper; Dylan Kennett – DLA Piper; James O’Donnell – DLA Piper; Michael McKee – DLA Piper;

Law Firms: DLA Piper;

Clients: Accelerated Digital Ventures;