The Investment Funds team at Gowling WLG has advised newly formed investment company Onward Opportunities Limited on its admission to trading on AIM, a sub-market of the London Stock Exchange.

The placing and admission saw the company successfully raise £12.75 million on its admission to trading on AIM. Onward Opportunities' investment objective is to seek to generate risk-adjusted absolute returns for shareholders through investments in UK smaller companies. Returns are expected to be principally derived from capital growth over a target three to five-year holding period with an appropriate diversification of investment risk. The company is the first quoted investment company launched by Dowgate Wealth Limited.

The team advising Onward Opportunities Limited was led by partner John Reed and principal associate Kate Seabourne.

Commenting, John Reed said:

"It has been a pleasure to advise on the IPO of Onward Opportunities Limited. We look forward to seeing Onward Opportunities Limited implement its growth strategy and continuing to work with them in the future."

Laurence Hulse, Investment Director at Dowgate Wealth, added:

"We were delighted to work with Gowling on the IPO of our new Investment Company - launching in the current market climate has not been easy and the success in being the largest AIM IPO in London this year is down the hard work of the team and our advisers."

The Investment Funds team is one of the leading advisers to the investment funds sector, and brings together a wealth of talent covering tax, corporate, finance, regulatory and dispute resolution.