The Legal 500 > United Kingdom - Solicitors > London > Venture capital

A ‘standout venture capital practice in London’, Bird & Bird LLP has a longstanding presence in the market and provides 'commercial and timely advice' to investees and investors on matters throughout the funding lifecycle. As well as the firm’s core venture capital expertise, clients appreciate the ability to draw upon experts within the commercial, IP and tax teams, in addition to practitioners from across the firm’s broad geographical network of offices on cross-border deals. Praised for their ‘very commercial approach’, Geraint Lloyd  and Struan Penwarden are experienced practitioners in the space, with the latter benefiting from niche expertise in corporate debt venture financing. A ‘clear star’, Shing Lo is rapidly gaining market recognition as a result of her ‘excellent understanding of the tech start-up arena’, while at associate level, the 'incredibly responsive' Mark Rundall is central to the team’s growing corporate venture offering.

Benefiting from 'vast market experience and knowledge across a wide range of investment sizes' by dint of its prolific activity in the venture capital space, Orrick, Herrington & Sutcliffe (Europe) LLP's five-partner London team provides 'tremendous insight and commerciality' to tech-focused investee companies seeking to raise finance. Headed by the 'exceptional' Chris Grew, one of four US-qualified lawyers in situ in London, and also able to leverage the firm's market-leading Silicon Valley office, the team is well-positioned to provide a very flexible service which is conversant with both UK and US market norms and trends. Although he is stage agnostic, Grew has recently handled numerous later stage mandates for 'unicorn' tech-based companies, including fintech company Revolut on its $250m Series C financing round. Although it remains best known for company-side work, the team continues to grow its investor client base, helped in no small part by the efforts of Ylan Steiner, who regularly handles work for clients including Vitruvian Partners. Associate Jamie Moore has a burgeoning reputation in the market, particularly in relation to fintech and AI.

With ten partners focused on corporate technology matters out of London and Cambridge, as well as its ability to tap into the expertise of the firm's notable IP offering, Taylor Wessing LLP maintains its position as 'one of the pre-eminent venture capital firms'. Strong on both investee and investor-side mandates (from early-stage financing rounds through to later stage fundings) and also able to handle exits (either through IPOs or trade sales), the firm has an 'excellent perspective' on trends in the market. It has been particularly active of late in relation to artificial intelligence (AI), fintech and gaming matters and continues to act for high-profile challenger bank Monzo on all of its fundraisings to date, including its recent Series E financing round. Team head Adrian Rainey  led on the aforementioned matter and is a key member of the team that also includes several other high-profile practitioners, including Angus Miln. Josef Fuss  is gaining a strong reputation in the market, in particular for digital health and AI matters with an international dimension, while at associate level, Cambridge-based Adam Thatcher is also noted.

Benefiting from 'strong venture capital market and transaction experience', Marriott Harrison LLP provides 'pragmatic and commercial' advice to a primarily investor-focused client base engaged in seed and Series A financings. Now headed by the 'trustworthy and personable' David Strong following Andrew Wigfall's departure in the middle of 2018 to Balderton Capital, the team has been particularly active of late handling work in the fintech space, including its recent work for Thrive Capital on its investment into Monzo as part of its recent £85m Series E fundraising (a deal which is also emblematic of the team's growing presence in later stage mandates). Although the team is better known for its investor practice, Daniel Jacob provides 'very clear advice' to to many early-stage companies.

Headed by the 'excellent' Alastair Peet from the firm's Birmingham office and also including support from across London, the Thames Valley and Leeds, Shoosmiths LLP's seven partner-team provides 'commercial and highly supportive' advice to an ever-expanding roster of investor clients, from early-stage investment through to late-stage funding. The firm remains one of Octopus Ventures' go-to teams, both on its new and follow-on investments, as well as exits. On early-stage matters clients also appreciate the firm's knowledge of the Enterprise Investment Scheme (EIS) process, where it is able to draw upon the expertise of EIS tax expert Tom Wilde. From the London office, Steve Barnett  acts for a growing roster of investee clients, including cloud-based software developer Matillion, which he recently advised on a $35m Series C fundraising.

Withers LLP has a nascent capability in the venture capital arena as a result of its merger in August 2018 with boutique UK tech law firm JAG Shaw Baker. The resultant seven-partner offering draws upon the strengths of the legacy firm, particularly for early-stage company side work within the fintech and AI space, and enhances the offering as a result of the ability to leverage significant complementary practice areas including IP and commercial, as well as international offices in the US and Asia. James Shaw  and Erika McIntyre  jointly head the seven-partner team that also includes very well-respected US and UK-qualified partner Tina Baker, whose recent work included advice to London-based open source security company Snyk on its $22m Series B venture funding round led by Accel.

With six partners focused on venture capital matters, primarily out of the firm's Bristol headquarters, Ashfords LLP is well placed to handle work for an impressive roster of investor clients engaged in financings across the investment lifecycle within the technology sector. Able to draw from a vast pool of transactional experience, co-heads Chris Dyson and Andrew Betteridge are regularly engaged in the most significant mandates handled by the team, including regular mandates for national and international funds in large-scale syndicated investment rounds. The heavily investor-leaning practice of Dyson and Betteridge is now balanced with the company-side practice of London-based partner Giles Hawkins, who has effectively built up this aspect of the practice following his arrival in 2016 from Orrick, Herrington & Sutcliffe (Europe) LLP. Jocelyn Ormond joined the team from Simmons & Simmons in November 2019.

Working closely with practitioners from the firm's IP and commercial teams, as well as being able to leverage the expertise of lawyers based in the US, Brown Rudnick LLP is particularly well versed in representing investors and investees in the life sciences, technology and cleantech fields across the investment lifecycle. Dual US- and UK-qualified team head Mark Dorff  has a longstanding reputation in the venture capital space, particularly in relation to cross-border mandates. Sophie McGrath  joined Goodwin in November 2018.

Led by the 'solutions-oriented' Tony Littner, Harbottle & Lewis LLP's 'cohesive and collaborative' three-partner team is particularly well versed at handling mandates for entrepreneurs within the technology and media space, where it is able to provide a 'comprehensive service' by virtue of its interdisciplinary approach which often draws in experts from the IP and broader tech teams. Although the team is traditionally better known for its company-side work, it is increasingly active for investors, which include traditional venture capital funds, as well as corporate venturers, including GMG Ventures.

With three partners devoted exclusively to handling venture capital work, Penningtons Manches Cooper LLP's 'knowledgeable and responsive' team has the critical mass to handle an impressive and growing volume of mandates for a primarily investee-focused client base. With offices in London, Thames Valley, Cambridge and Oxford, the team has deep exposure to the venture capital ecosystem; benefiting from close links to a number of leading UK universities, it frequently advises on life sciences spin-out work. Although the firm remains better known for its investee-related work, it is also advising an increasing array of investors on their financings, as well as on work for their portfolio companies. The 'exceptional' Justin Starling jointly heads the team alongside Rob Hayes, and is particularly noted for his university-related technology transfer prowess.

Although it has significantly enhanced its investor client base in recent years, Browne Jacobson LLP's core strength lies in acting for investees throughout their investment lifecycle. The firm's 'flexible, proactive and commercial approach' is underscored by its innovative 'Grow' programme, which has successfully attracted a base of early-stage disruptive tech clients, providing them with ongoing legal support as well as the provision of fixed-fee rates for more substantive legal queries. London-based partner Jon Snade  has been instrumental to the evolution of the 'Grow' product and has cultivated numerous clients within the insurtech space as a result of it. Birmingham-based partner Mike Jackson is noted for his work for both investors and investees across a range of sectors, including automotive technology.

Led out of London by Ian Piggin and also able to tap into the expertise of numerous Birmingham-based practitioners, Gowling WLG provides an 'excellent service' to funds, corporate venturers and investee companies, particularly as it pertains to deals within the healthcare/life sciences, technology and energy sectors. Although it is active across the investment lifecycle, the firm is perhaps best-known for its early-stage work, where it is able to provide a cost-effective service to start-up companies utilising the firm's 'Jumpstart' programme, which provides packaged advice (in key areas such as HR, IP, corporate governance, data protection) and template documents.

Mills & Reeve LLP has a strong pedigree in the local Cambridge market and beyond, where investors and investees appreciate the firm's 'pragmatic and proactive approach' to getting deals done. As well as executing transactions for clients, the firm is also regularly engaged in structuring venture capital funds, which often provides an entry into the pursuant transactional work. 'Highly knowledgeable and influential' team head Zickie Lim has a particular niche in relation to university spin-out mandates.

Led out of the firm's Bristol headquarters by Mark Shepherd, Burges Salmon LLP handles a significant amount of venture capital work for both investors and investees as a function of its broader private equity offering. Active in mandates across all stages of the investment process and in particular sector strengths of the firm as a whole, including energy and education, the team also benefits from the ability to leverage the firm's private client pedigree - of particular use in relation to early-stage investments on behalf of ultra-high-net-worth angel investors and their family offices.

As part of the firm's overarching private equity capabilities, Charles Russell Speechlys LLP handles a significant amount of work for venture and growth capital investors, as well as investees, across the spectrum of the investment lifecycle (where clients also benefit from the ability to leverage the expertise of lawyers with complementary practice area knowledge in tax, IP and finance). Tapping into the firm's private wealth prowess, the team also has strong market traction among the growing family office investor class, as well as for high-net-worth individuals on their venture capital investments. Chris Putt is a key member of the team whose range of expertise includes traditional venture capital work, as well as venture debt matters. Putt has recently handled numerous matters for Kreos Capital, including its €20m investment in Dutch biopharmaceutical company Kiadis Pharma.

Able to tap into the expertise of the firm's US offices (including a significant Silicon Valley offering) as well as benefitting from practitioners based in London with UK and US expertise, Cooley (UK) LLP excels in deals that involve a transatlantic component. Recent highlights include advising Accel and General Catalyst as lead investors in UK digital bank Monzo’s £85m fund raising. As well as the firm's transactional expertise, clients also benefit from the firm's impressive IP expertise.

Dentons, which has a growing focus on venture capital work in London, is now also better placed to handle matters outside the capital on the back of of its 2017 merger with Scots firm Maclay Murray & Spens, and the team is gaining increased market traction for a balanced mix of investor and investee clients. Afforded significant bandwidth by virtue of being able to key into complementary practice areas including IP, tax and corporate, and also able to leverage the expertise of venture capital practitioners in key locations globally (including the US, Singapore, France and Germany), the team has the capacity to provide a comprehensive and holistic service, irrespective of location. London-based team head Joseph Altendorff is a key name for founder-led and management-owned businesses throughout their growth cycle to IPO or exit.

Leveraging the firm's overarching IP, regulatory and asset management strengths, Simmons & Simmons is well-placed to advise investors and investees in funding throughout the investment continuum, particularly in relation to deals within the fintech, life sciences and TMT sectors. The firm's prowess and focus on fintech-related matters is underscored by its own FinTech fund, which was established in 2016 and provides free legal advice to start-up fintech businesses which are chosen by the firm as worthy recipients.

Forming a part of its wider corporate and private equity offering in London, Arnold & Porter's venture capital team regularly advises investors on  late-stage financings and exits. Jeremy Willcocks is often at the forefront of the most significant mandates handled by the team; he is particularly accomplished at handling life sciences-related matters, where he is able to tap into the expertise of a significant pool of IP experts.

Operating under a business model which utilises sophisticated technologies but which incentivises practitioners to generate a strong workflow since their salary flows directly from it, Keystone Law has a number of well regarded venture capital practitioners who had 'cut their teeth' at several established traditional law firms and thereby have strong traction in the market. Formerly a partner at Marriott Harrison LLP, Dee Sian has excellent ties with numerous institutional investor clients, including Beringea and Calculus Capital, who she regularly advises on financings throughout the investment continuum.  The 'very knowledgeable and accessible' Nadim Zaman has more of an investee focus to his practice.

Led out of London by Kavita Patel  and also benefiting from a strong presence in the Midlands, Shakespeare Martineau LLP's 'commercial and driven' team is adept at advising funds, including core client Foresight Group, on investments into high-growth businesses throughout the venture capital lifecycle. Particular areas of strength include advice on tax-related investments (including EIS mandates) and funding to businesses in the green-tech and clean-tech sectors.

Boutique technology firm Waterfront Solicitors LLP is well-placed to provide a partner-led service to start-ups and entrepreneurs, as well as a growing roster of investors, 'particularly when the work is not standardised, and senior judgement is required, since they do not face the same pressures as the large tech firms to push such work down to very junior associates'. As well as receiving direct instructions from clients, the team also picks up a significant amount of referral work from other law firms. Matthew Cunningham  is 'very effective' and heads up the team that was bolstered in September 2018 by the arrival of Angus Young from Morgan, Lewis & Bockius UK LLP.