Gowling WLG advises Draper Esprit on £103m dual listing

11 July 2016

Gowling WLG has advised Draper Esprit, one of the leading venture capital investors involved in the creation, funding and development of high-growth technology businesses in the UK, Republic of Ireland and Europe, on its admission to the AIM market of the London Stock Exchange plc and the ESM market of the Irish Stock Exchange and associated fund raising.

Kristian Rogers, a partner in Gowling WLG's corporate team, led and advised on the IPO with support from principal associate Caitlin Cumming and associate Emily Troubridge.

The IPO is believed to be the first time that a venture capital fund of this type has chosen to float.

Simon Cook, CEO and Co-Founder of Draper Esprit, said: "Our motivation for evolving our Venture Capital business model was twofold. Firstly, we wanted to be able to invest for longer in our emerging companies and to be able to build bigger stakes as companies remained private for longer periods, capturing more value for shareholders. Secondly, we wanted to further democratise funding for entrepreneurs."

"The Gowling WLG team provided sound, considered advice, making the process smooth and painless."

Kristian Rogers commented: "We are thrilled to have the opportunity to work with Draper Esprit at a time when they are accelerating their growth. The transaction once again reaffirms our strength in the AIM market."

Gowling WLG consistently features at the top of ARL's AIM Advisers Rankings Guide, and is recognised for its leading position in the AIM market, acting for nominated advisers (nomads) and AIM companies alike. The firm recently launched "Make way for the middle: the future shape of the UK economy" - a comprehensive study forecasting and comparing the growth trajectory of the trade of the UK's small, medium and large businesses.