A Haynes and Boone LLP team represented London-based private investment firm Isomer Capital in the closing of a €250 million fund, Isomer Capital III SCSp.
Isomer Capital, which has investments with more than 70 venture capital funds throughout Europe, plans to deploy the fund over the next few years according to Managing Partner Joe Schorge. Isomer Capital intends to invest between €5m-10m in 20 early-stage funds in the UK and Europe, across all sectors. It also will invest in six to eight "micro VCs.”
British Business Investments, a commercial subsidiary of the British Business Bank, has committed up to €60 million to Isomer Capital III.
Joe Schorge, Managing Partner at Isomer Capital said, “We are thrilled to work in partnership with the venture capital team at Haynes Boone on a range of projects, especially this critical flagship fund launch. Having worked with Karma and Ronan for almost a decade, we know we are in good hands as their team has a long history of delivering great work, on time and in budget for us. In this case they worked at speed and in close collaboration with our investors to help launch our new flagship fund, which is now deploying capital to support the best emerging VC and growth startups across Europe”.
The Haynes Boone legal team representing Isomer was led by London Partner Ronan McCann, a member of the firm’s Investment Management Practice who advises on a wide range of investment fund-related work, including the launch of new closed-ended funds and the creation of investment management businesses, carried-interest schemes, co-investment opportunities and limited-partner advisory mandates. He was assisted by Partner Karma Samdup, head of Private Funds and Venture in Europe in Haynes Boone’s London office, and London Associates William Barrott and Fergal Coney.
The Haynes Boone team also recently represented Kindred Capital on the closing of its third fund, at $130 million. British Patient Capital, also a commercial subsidiary of British Business Bank, committed up to $26.7 million to the Kindred fund, which will invest in pre-seed and seed stage founders across Europe and Israel.
Haynes and Boone, LLP is an international corporate law firm providing a full spectrum of legal services in energy, technology, financial services and private equity. The firm’s Investment Management Practice Group provides assistance with the formation and on-going operation of investment funds engaging in a broad spectrum of investment activities from general investment in listed stocks to targeted acquisitions in a wide variety of industries, including in technology, digital assets, energy, real property, venture, businesses or investments. The team represents both domestic and offshore investment vehicles and serve as lead outside counsel to numerous investment funds who combined have tens of billions of dollars in assets under management. The Investment Management Practice’s London team has deep experience acting as cross-border counsel to UK and European fund managers who want to access capital across the globe.