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£120 million IPO for Draper Esprit


Travers Smith LLP has advised Numis Securities Limited as NOMAD and joint bookrunner and Zeus Capital Limited and Goodbody Stockbrokers as joint bookrunners in relation to the IPO of European venture capital fund Draper Esprit Plc.

Draper Esprit raised gross proceeds of £74 million on its dual listing on AIM, a market operated by the London Stock Exchange, and the ESM, a market operated by the Irish Stock Exchange.

Draper Esprit is the only tech venture capital fund to list on AIM and is one of the leading venture capital investors involved in the creation, funding and development of high-growth technology businesses with an emphasis on digital technologies in the UK, the Republic of Ireland and Europe. It currently holds stakes in 24 companies.

Management intends that listing Draper Esprit will enable it to invest for longer in emerging companies and to be able to build bigger stakes as companies remained private for longer periods, capturing more value for shareholders

The Travers Smith team was led by corporate finance partner Jon Reddington, who was assisted by corporate finance associates Catherine Shennan and Sami Osman.

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