‘Pragmatic’ Osborne Clarke team helps $100m fund close despite Brexit and pandemic obstacles

April 14, 2021

A team from the Bristol office of global law firm Osborne Clarke have advised venture capital firm Illuminate Financial Management on the final close of its second fund at $100m (£72.5m) – double what it achieved in its first.

London-based Illuminate Financial invests in companies providing cutting-edge solutions to financial institutions.

With the help of strategic partnerships including those with Barclays, JP Morgan Chase, Deutsche Boerse and IHS Markit, it has been able to close its second fund, despite obstacles created by the pandemic and Brexit deadlines.

The fund is active with seven investments – and an eighth about to close – while it also secured its first exit from the new fund before the announcement following Paypal’s acquisition of Tel-Aviv-based digital asset security company Curv earlier this month. 

The Osborne Clarke team was led by Bristol-based partner Helen Parsonage, assisted by associate Aimie Jenkins and partner Erika Jupe (tax), also based in Bristol.

The firm’s investment funds team provides advice across a variety of asset classes.

Helen Parsonage, pictured, leads the team’s VC funds practice and is recognised in both Chambers and Legal 500 directories for her venture funds expertise.

Illuminate founder Mark Beeston said: “Osborne Clarke has been a key partner to Illuminate over the years.

“Helen and her team once again provided us with invaluable service in getting our latest fund to its final close incorporating a broad variety of investor types.

“We share very similar values and once again they have proven responsive, pragmatic and able to bring their great knowledge of the market to the process enabling us to hit our own objectives.”

Comments are closed.


Reach tens of thousands of senior business people across Bristol for just £120 a month. Email info@bristol-business.net for more information.