The 'responsive and knowledgeable' team at Bird & Bird LLP has 'a strong understanding of the market', ensuring that it is a popular choice among investors and investees seeking and receiving funding throughout all stages of the investment life cycle, from "idea to exit". As well as the team's core venture capital expertise, both in London and across many of its international offices, clients also benefit from access to concomitant tech and life sciences-related IP and commercial expertise, of particular value to start-ups, in particular, as they scale up. 'Commercially astute' team head Struan Penwarden is 'very well-versed in the venture market', including in relation to venture debt matters, and is 'able to deal with all the various nuances that come up along the way'. James Baillieu is pivotal to the firm's success for investors (including corporate venturers) and companies within the biotech and healthcare sector, drawing upon a broad skill-set that includes financing, M&A, commercial and IPO expertise. The 'brilliant' Mark Rundall is 'very knowledgeable and commercially astute', traits with which he imparts to good effect for investors and high growth companies in the tech and energy sectors, in particular. The 'extremely dedicated' Adam Meisels, who was recently promoted to partner,  excels in cross-border transactions, particularly on matters with an Israeli nexus, where he has particular skill having previously worked in the country.

Although it remains a relatively new practice in the market, in a short space of time, under the assured guidance of David Mardle, Goodwin has firmly established itself as one of the leaders in the space, with a level of expertise in the tech and life sciences sectors that is a match for its more established US counterpart. Key to this rapid success story has been the firm’s hiring policy, which has cherry-picked some of the leading practitioners in the market at rival firms, as well as its holistic approach (drawing upon IP, employment and tax advice) which ensures that innovators and investors receive a joined-up service throughout the investment life cycle. Ali Ramadan has ‘exceptional start-up and biotech knowledge’, and has been integral to the firm’s success, providing ‘technically excellent advice’ to investees and investors throughout the funding cycle, including as it relates to work at the intersection of property and technology. With a core focus on impact investing, including on healthtech deals, Sophie McGrath continues to impress, as does Cambridge-based Elizabeth Rhodes and Andrew Davis, who has ‘immense gravitas for a young partner’. The investment the firm continues to make in the area is also highlighted by a number of recent internal partner promotions, including Cambridge-based practitioner Adam Thatcher, whose versatile practice includes work for investors and investees in the fintech, life sciences, healthcare and technology sectors, and Kenny Walker-Durrant, who has ‘incredible technical skills on the tech and life sciences sectors’. 

Best-known for its investee offering but increasingly active for funds throughout the investment life cycle, Orrick, Herrington & Sutcliffe (UK) LLP provides ‘supremely knowledgeable and commercial’ advice and an ‘updated view on what is “market”‘, by dint of the sheer volume of transactions handled by the practice in the technology sector. Drawing upon the expertise of several US-qualified lawyers in its London office, as well as benefiting from a market-leading Silicon Valley offering in the US, the team has ‘a unique perspective in understanding US investor needs’ on their inbound investments and is also well-placed to represent investee companies seeking to scale up and to access the US capital markets as an exit strategy. The ‘extremely knowledgeable’ Jamie Moore excels in handing cross-border mandates for investors and high growth technology companies, and has ‘a unique ability to translate UK concepts for US investors’. Drawing upon strong connections within the venture capital ecosystem, including with venture capitalists, angel investors, and industry experts, Ylan Steiner remains pivotal to the firm’s increasingly well-established investor offering and ‘is well-versed in areas such as fundraising for companies at all stages’. A ‘very reassuring’ presence on deals, ‘given his market knowledge and reputation’, Jamie Moore combines deep sector knowledge in disruptive technologies, including fintech and AI, with a highly commercial mindset on transactional work, ensuring that he is a popular choice for investees in the space throughout the investment life cycle. Senior associate Christopher Perry ‘is able to clearly explain concepts/changes and proposed amendments in an effort to keep things moving’, and is gaining market recognition among technology and life sciences companies, as well as those investing in them. Christopher Grew heads the team.

The ‘highly responsive‘ team at Osborne Clarke LLP provides a ‘very efficient, pragmatic and cost-effective service’ to investors and investees seeking or providing financing at an early through to late stage of the investment cycle. Its longstanding presence in the market, particularly as it relates to technology and life science spin-outs, scale-ups and exits, ensures that it is able to provide ‘an excellent balance between legal and commercial expertise’, while its international footprint enables the team to excel in multi-jurisdictional mandates. ‘Intelligent’ Reading-based team head Robert Wood deploys ‘great organisational and legal skills’ to good effect for funds and companies, particularly on later stage mandates often involving investor syndicates. Leveraging his broader corporate/M&A capabilities to good effect, London-based Mathias Loertscher is a popular choice among tech-focused companies on Seed and Series A financing, as well as on investment later in the growth curve – to include advise to shareholders on exit strategies. The ‘brilliant’ Rob Hayes displays a ‘very calm’ demeanour with a particular focus and expertise in working with high growth businesses and institutional investors in the technology and life sciences sectors. Justin Starling has a strong grounding in the life sciences and healthcare sector, utilising this very capably on pure venture capital deals, as well as for university spin-outs seeking to commercialise their innovations. ‘Superstar’ associate director Elizabeth Yell  continues to gain market traction and is a firm favourite for both institutional investors and venture-backed companies as a result of her ‘incredible eye for detail whilst having the skills to drive and manage everything’. All partners are based in Reading, unless otherwise indicated.

Led by Angus Miln, the 'very experienced' team at Taylor Wessing LLP provides 'high-quality' advice to a relatively balanced mix of investees and investors seeking or providing finance from an early stage through to an exit strategy. As well as transactional work, the firm is also 'very well-plugged into the venture capital ecosystem', with both Miln and the 'first-class' Howard Palmer continuing to advise the British Private Equity and Venture Capital Association (BVCA) on the drafting of standard documentation to facilitate early-stage venture capital investment. As well as having deep expertise within the tech sector, the firm has a strong track record advising on life sciences/healthcare mandates, an area that Cambridge-based partner Ross McNaughton is particularly adept and can add value to clients engaged in matters with a transatlantic edge by dint of his previous experience working out of San Francisco. Indeed, the UK team as a whole regularly works in a cross-office capacity alongside colleagues spread across Europe, the Middle East and Asia, with the 'very impressive and commercial' Josef Fuss noted, in particular for his 'excellent VC connections and with Israeli investors'. Alexandra Richardson excels in advising clients in IP-rich sectors including software, fintech, digital media and digital health companies, both on the investor and investee front. All named practitioners are based in London, unless otherwise indicated.

Leveraging 'excellent market understanding and a great grasp of market developments', as well as being able to tap into a huge European and US network of offices, and full-service expertise across many complementary practice areas, including capital markets, Latham & Watkins provides 'highly commercial advice' on the company side, as well as for investor clients. The team is particularly adept at advising on complex and sophisticated transactions, with a degree of flexibility and insight into what is market in Europe and the US, which is, according to one client: 'particularly useful in the current challenging climate'.  'Incredibly responsive and engaged, whilst at the same time remaining commercial and clear on the bigger picture', Shing Lo has a richly deserved market-leading reputation and 'makes incredibly complex and stressful transactions much easier'. Lo co-heads the emerging companies team alongside Mike Turner and Robbie McLaren , who are also industry stalwarts and adept at guiding companies from their seed financing through to late stage financing, IPO and beyond. The team has also developed a strong roster of 'responsive and reliable associates', including Samantha Peacock, who displays a 'great attention to detail' and Samantha Si , who has a   'good commercial understanding'. 

 

Under the guidance of the ‘commercial and practical’ David Strong, Marriott Harrison LLP continues to gain market share and is recognised for its ‘very responsive and cost-efficient’ service and ‘diligent execution of transactions’. Although the team continues to develop its investee offering, it remains best-known for its advice to institutional investors, including core clients Accel, Balderton and Lightspeed, particularly in relation to Series A and B financings. Frances Spooner has an excellent understanding of investor requirements, having spent time in her career on secondment at VC funds, and is developing a core focus on impact investing, as well as work for female founders. David Bettis provides ‘very reactive and pragmatic’ advice to core institutional clients, as well as a number of pan-European funds. Other key individuals include the ‘knowledgeable and meticulous’ Graham Halliday, who was recently promoted to partner, and Daniel Jacob, who is ‘innovative in finding solutions’ for entrepreneurs and companies. The team also has ‘a strong bench of diligent associates’, including Kimberley Lam’s Descamps, who is ‘calm, reliable and efficient’. 

Drawing upon a deep pool of talent across London, Cambridge and Oxford, following the recent merger with Taylor Vinters, Mishcon de Reya LLP  provides a ‘practical, commercial and very cost-effective’ service to clients attracting and deploying capital in the innovation economy. Although the firm handles work through the funding cycle, it is best-known for its early stage prowess, where it has ‘the flexibility to understand the idiocyncracies of earlier-stage businesses’. Appreciated for his ‘conscientious and hands-on approach’, Cambridge-based Chris Keen remains pivotal to the firm’s success in the space and has built up a strong reputation in the field, including as it relates to university spin-outs, an area that, according to one client, he ‘has a better knowledge than anyone else’. Erika McIntyre is also very adept at handling early stage work for both investees and investors, with a level of ‘strategic thinking allowing her to align legal strategies with clients’ business objectives’. London-based Hayley Cross, who combines ‘practical, commercial advice with excellent legal knowledge’, is also a key member of the team and has been pivotal to growing the firm’s offering beyond its Cambridge roots. Charles Fletcher co-heads the team alongside Keen and has ‘a fantastic knowledge of EIS funds’.  

Led from Birmingham by the ‘excellent’ Alastair Peet but operating very much as a unified national practice with other key resources in Reading and London, Shoosmiths LLP provides ‘sensible, actionable and practical advice’ to an increasingly balanced mix of investors and investees. Peet remains a popular choice among prominent fund clients, including Octopus Ventures, which benefit from his ‘very collaborative and consensual approach’ to transactional work as well as his intimate knowledge of the underlying documentation, having himself played a key role drafting and updating the model documents for the BVCA. Along with the ‘knowledgeable and commercial’ Alastair Hammerton, who heads the Midlands corporate team, Peet has also been at the forefront of utilising document automation, AI review, and data analytics to deliver efficiencies and insights for clients. In London, the ‘very knowledgeable’ Steve Barnett is ‘well connected in the venture capital market in Europe’, providing ‘very practical’ advice to his core company side roster, as well as a growing number of institutional investors on early stage funding. Other key members of the national team include Thames Valley-based corporate partner Sanjeev Sharma, whose work encompasses a significant amount of venture capital mandates; Reading-based tax partner Tom Wilde, who is a key resource on the crucial tax aspects associated with the Enterprise Investment Scheme (EIS) and Venture Capital Trusts (VCT); and the ‘excellent’ Helen Burnell, who leads the firm’s spHERe initiative to support female founders and venture capitalists. All named practitioners are based in Birmingham, unless otherwise noted.

The ‘extremely responsive’ team at Bristol-based firm Ashfords LLP provides ‘strong impartial advice on “what is market”, thereby enabling principal decision makers on the investor and investee side to make commercial and sensible decisions relating to venture capital funding. While the team is best-known for acting on earlier stage financing rounds, it is also adept at handling ‘complex cross-border transactions and is able to deal with technical subjects’. Key to this work is ‘excellent technician’ Chris Dyson , who combines deep industry knowledge with commercial and legal smarts to very effectively guide innovators and funders in the technology space. Jocelyn Ormond  has a particular niche advising companies and investors in the digital health/life sciences sector. Dyson co-heads the team alongside Rory Suggett , whose investor side focus includes handling a raft of work for an impressive roster of fund clients includes the Business Growth Fund, which he regularly advises on its funding of early and growth stage companies.

Often working closely with the firm’s IP and commercial offerings, and also able to leverage the US network, Brown Rudnick LLP‘s venture team provides ‘sensible and measured solutions’ to investors and investees in domestic and cross-border transactions at every stage of the corporate life cycle. Team head Neil Foster ‘values simplicity over making things overly complex’ and is a popular choice among funders and start-ups in the technology and media spaces, as well as more recently a growing amount of energy transition matters. As part of his broad corporate and capital markets offering, UK and US-qualified partner Mark Dorff  regularly handles tech and life sciences-related venture matters and has particular expertise advising European clients on US investments. Sage Revell, who was promoted to partner in February 2023, is also key member of the team, particularly in the context of life sciences venture mandates.

Dentons provides 'very commercially focused' advice to institutional investors as well as corporate venturers on their investments into and funding of a range of companies, including those in the energy and cybersecurity space. The team is stage agnostic and is equally as comfortable advising on Series A mandates, as it is Series C and beyond, and is able to effectively leverage complementary practice areas as a corollary of the firm's full-service offering. Although it handles a considerable volume of domestic mandates, the firm's sweet-spot lies in resourcing complex multi-jurisdictional matters, where it is effectively able to draw from the firm's vast global network. 'Very commercially-focused' team head Joseph Altendorff continues to lead from the front, although he is also often aided by 'a number of highly talented lawyers', including Joseph Collingwood.

While it does handle some funds work, Harbottle & Lewis LLP remains best-known for its company side credentials, and the ability to guide investees in the media and entertainment and technology sectors from an early stage through subsequent funding sounds associated with scaling-up their operations. In this context, the team provides ‘very competitive pricing for early stage startups’, and is also noted for its ‘very forward thinking’, a consequence of which is cost savings for the client further down the line. Team head Tony Littner  ‘knows the VC landscape inside and out’, and provides a ‘fantastic customer service’, particularly to entrepreneurial businesses in the technology sector. Senior associate Tom Macleod is also a key member of the team and as well as regularly providing vital support to Littner on his deals, is also developing his own practice, with a focus on servicing high growth tech companies throughout the funding continuum.

Although it has taken a while for the legacy JAG Shaw team to bed into their new surroundings at Withers LLP, the team has now well and truly found its footing, leveraging the firm’s strong private wealth credentials to good effect, as well as drawing upon its international footprint and broader full-service offering. This consolidated offering has proved very effective for early stage companies, in particular, as they scale up and require not only pure VC advice but also a range of commercial, employment and tax counselling. Drawing upon a ‘deep understanding of the early-stage and scale up ecosystem’, team head James Shaw is a ‘fantastic all-round trusted adviser’, whose underlying tech and science sector knowledge combines with transactional prowess to good effect for companies looking to scale up and for university spin-outs. In Cambridge, Susanna Stanfield ‘brings a calm presence to discussions and negotiations’ for both high-growth companies and investors in the life sciences and technology sectors. The ‘brilliant’ Sarah Melaney, who joined the firm at the beginning of 2022 from Brown Rudnick LLP, further enhances the firm’s transatlantic capabilities and ‘delivers first-class work’ for high growth companies and investors, including in relation to impact investment. The team is rounded out by Iain Cockburn, who ‘is driving forward the firm’s innovation and cost-efficiency and data management using legal tech’, in his new role as head of the client delivery programme.

The ‘experienced and approachable team’ at Browne Jacobson LLP provides ‘practical and pragmatic’ advice to entrepreneurs and companies utilising disruptive technology. Much of the work relates to early stage investments, with the firm’s own GROW programme, enabling startups ‘to access high-quality support at favourable rates’. Jon Snade  is key to the firm’s success in the space, particularly for companies in the fintech and insurtech sectors, where he is not only active doing deals but also in the context of thought leadership, including his ongoing role for the Government and External Affairs Steering Group of Insurtech UK (the UK’s trade body for the Insurtech sector). Mike Jackson co-heads the team alongside Snade from Birmingham and has a particular focus for regional start-ups and investors on venture-backed mandates in the automotive and greentech space.

Benefitting from a heightened focus within the venture space in recent years, including - for the first time in the UK - a discrete internal emerging companies offering, DLA Piper continues to gain traction in the market for an investor focused client base within the tech and life sciences sectors, in particular. The firm is best-suited to handling Series A investments through to exit, although it does also handle some earlier stage work for many of its corporate venture clients, which are an important constituent of its investor client base, alongside institutional investors. Team head Luca Gori has ‘deep expertise in venture capital transactions’, particularly in the fintech and insurtech space, where as well as advising on purely domestic mandates, he is also adept at handling cross-border mandates, where he is able to draw from resources throughout the firm’s global network of offices. Senior associate Dylan Kennett has ‘an indefatigable work ethic’, which he effectively deploys for the firm’s core investor client base, as well as some investees.

Galvanised by the arrival in May 2021 of the ‘exceptional’ Howard Watt, Fladgate LLP continues to pick up market share for investors and investees across a wide variety of sectors, where it is noted for its ‘very commercially savvy and pragmatic advice’. Drawing upon in-house expertise, as well as significant experience in private practice, Watt has to date been particularly effective assisting on Series A mandates, including a considerable volume for Atomico, a loyal client of Watt’s which has followed him to his new role.

Mills & Reeve LLP is ‘very experienced in VC-related transactions’ within the tech and life sciences sectors, acting on behalf of investees and investors, and in the latter case also often being the law firm of choice for the initial fund structuring mandate. Cambridge-based team head Zickie Lim has vast experience in the field, particularly at an earlier stage, including continuing to handle a considerable volume of work relating to university spin-outs. Also based in Cambridge, Dona Ardeman provides a holistic approach to early stage-focused funds, acting as she does on both their fund creation and subsequent transactional work. Principal associate Edward Sloan leads the firm’s efforts from the London office and is appreciated for his ‘ability to find solutions to tricky problems’ for investors and investees.

The 'excellent' team at Penningtons Manches Cooper LLP 'goes the extra mile for its clients', which include many life sciences and "deep tech"-focused entities, from an early stage, through to latter rounds of investment. In this context, the core venture team, which is led by Matthew Martin  and James Went, from London and Oxford, respectively, is also able to lean into the expertise provided by employment, tax and IP practitioners to provide a very comprehensive service to these companies on their growth journey. Much of the investee-side work relates to university spin-outs, with Oxford University and Imperial College particularly fertile sources of instructions.

Bristol-based firm Burges Salmon LLP handles a considerable amount of investor-side venture work as an offshoot of the firm’s broader private equity and corporate finance offering. The team has particular expertise in core areas of sector focus for the firm as a whole, including tech, financial services and energy, with the ‘exceptional’ Richard Spink appreciated for his ability to provide ‘commercial advice’ to institutional investors, as well as a considerable amount for family offices. Mark Shepherd  heads the team.

Deloitte Legal advises a fairly balanced mix of investors and venture-backed businesses within the fintech and life sciences sectors seeking or providing investment throughout the funding life cycle, as well as at an exit stage. In addition to the core legal expertise that numerous experienced practitioner including Charles Claisse  and Glafkos Tombolis can provide, clients also benefit from access to the firm’s broader financial and consultancy services, ensuring they receive a holistic service through their growth strategies.

Drawing upon an innovative mindset that in many ways mirrors the entrepreneurial nature of venture capital start-ups, the alternative business model utilised by Keystone Law ensures that clients receive a ‘highly pragmatic and commercial’ service throughout the funding continuum. The ‘fabulous’ Dee Sian  is ‘incredibly diligent’ and is particularly accomplished at advising funds on EIS and VCT investments, including within the technology, leisure and retail sectors. The ‘exceptional’ Charles Frank  has an investee focus to his practice, advising companies seeking funding, as well as on M&A processes with regard to an exit strategy.

The 'very diligent and hard working' team at Norton Rose Fulbright is increasingly focused on venture capital work as an offshoot of its corporate finance and private equity practices. Leveraging the firm's strong regulatory offering, the team has developed a particular niche advising on fintech-related matters, including as it relates to blockchain and crypto-currency. The 'very pragmatic and forward thinking' Victoria Birch  has been central to the firm's success in the space, which has been built on repeat instructions for both investors and investees, as well as very effective use of legal technology to streamline the investor experience (including the firm's nascent strategic minority investment product, which has proved very popular among the venture arms of financial institutions and corporates). Sophie O’Connor  also handles a significant volume of venture mandates, and alongside Birch was instrumental to the development of the aforementioned product.

 

Leveraging the firm’s overarching IP, commercial and regulatory prowess, Arnold & Porter is best-suited to advising life sciences start-ups/corporates throughout their funding life cycle, both domestically and on transatlantic issues by dint of its US resources. As well as acting on life sciences matters, team head  Jeremy Willcocks has experience advising on investments in the cannabis and cybersecurity space, and is able to provide pure venture capital advice alongside broader corporate finance/M&A capabilities by dint of his comprehensive transactional skillset.

The 'user friendly' team at Bristows LLP provides 'outcomes focused and sensible' advice for corporate venture arms, institutional investors and university-spin outs providing and seeking investment within the life sciences and tech sectors, in particular. Marek Petecki  is key to the firm's success in the area and provides 'considered and thoughtful advice' throughout the funding life cycle. check Iain Redford  heads the team and handles some venture capital work as an extension of his broader corporate finance, private equity and M&A offering.

The arrival in June 2022 of David Ramm from Baker Botts (UK) LLP has significantly enhanced Crowell & Moring‘s venture capital credentials in light of his longstanding investee-side expertise throughout the investment life cycle. Ramm combines transactional prowess with deep tech-related industry knowledge, enhanced by his credentials as a former scientist and engineer. He co-heads the firm’s overarching corporate and transactional team alongside Simon Evers .

Eversheds Sutherland (International) LLP is ‘incredibly knowledgeable and experienced in VC investments’ for both investors and investees. The team, which has a targeted VC offering as well as being able to leverage the firm’s broader TMT M&A group, is also well-placed to advise on cross-border mandates by virtue of its international network. ‘Fantastic’ team head Jon Gill is ‘vastly knowledgeable and reactive’, and takes the lead on the most notable work handled by the team, including in the corporate venturing space.

Combining ‘efficiency, creativity, and strategic acumen’, Fieldfisher provides      ‘solutions-driven’ advice to investors and venture-backed businesses, seeking or providing funding throughout the investment life cycle. Leveraging the firm’s broader regulatory expertise, the team is particularly effective at advising on transactions within the fintech and healthtech sectors, where Thomas Colmer provides ‘highly actionable’ advice. Manchester-based Tom Ward co-heads the team alongside Colmer and has a strong track record advising on early stage mandates, including through EIS funds.

 

Drawing upon ‘an impressive depth of knowledge and experience in the tech sector’, boutique firm Humphreys Law provides ‘flexible and pragmatic advice’ on mandates throughout the investment life cycle. The team is particularly adept at advising on investee matters, providing ‘tailored legal advice that is both practical and effective’, as a result of the firm’s ‘keen understanding of the needs of founders and entrepreneurs’. Leveraging ‘excellent knowledge in the VC market’, founding partner Henry Humphreys is at the forefront of the most significant mandates handled by the team, including a considerable volume in relation to  fintech, health tech and AI.

Lewis Silkin's corporate finance and investment practice has a track record of work on funding rounds, follow-on financings and seed investment. The key names are corporate finance head Timothy Leeson and fellow corporate finance partner David Willbe, who also co-heads the firm’s technology sector group

Shakespeare Martineau LLP has a ‘detailed knowledge of the fund raising regulatory environment and issues inherent in VC investing’. The national team, which includes offices in Nottingham, Birmingham and London, is particularly adept at advising on tax-related investments regarding EIS and VCT funds. Splitting her time between the London and Birmingham offices, Kavita Patel  is a key member of the team, as a result of her work for funds clients, both in relation to structuring work and on subsequent downstream investments. Nottingham-based partner Duncan James also handles a considerable amount of VC matters, including work for family-run companies, in his role as national corporate head.