Macfarlanes advises Legal & General as it backs innovative venture investment platform targeting digital businesses

02 December 2016

Legal & General Capital, the principal investment arm of Legal & General Group, with Woodford Investment Management and the British Business Bank, has invested in Accelerated Digital Ventures (ADV).

ADV is a new and innovative venture platform funding digital businesses across all stages of the funding cycle, from entry to exit.  It plans to invest an initial £150m in digital start-ups, targeting existing digital technology hubs across the UK, injecting patient capital at the very early stage of a business’s life through accelerator hubs and incubators around the UK and through microfunds.

It will also back growth and later stage businesses as they mature, offering both funding and expertise from industry experts and proven entrepreneurs.  ADV's long-term aim is to invest upwards of £200m every year into UK-based start-ups and scale-ups.

The Macfarlanes team was led by corporate M&A partner Luke Powell, alongside investment management partner Alex Amos and tax and structuring partner James McCredie.  Corporate M&A solicitor Nicholas Page and tax solicitor Sarah Shucksmith also advised.