Press releases | Finance | 02 Jun 2017

Travers Smith advises Numis and Goodbody on £100 million capital raising by Draper Esprit plc

Overview

Travers Smith LLP has acted for Numis Securities Limited and Goodbody Stockbrokers as joint brokers and underwriters and Numis Securities Limited as nominated adviser in connection with the proposed £100 million placing and subscription (the "Fundraising") by Draper Esprit plc ("Draper Esprit").

Draper Esprit is a leading venture capital firm involved in the creation, funding and development of high-growth digital technology businesses across Europe. The purpose of the Fundraising is to raise further funds so that Draper Esprit may continue to develop on its successful strategy of investing in early and growth stage digital businesses in order to deliver attractive long term returns to investors.

The Fundraising is conditional on approval by Draper Esprit's shareholders at the upcoming general meeting and supports £60 million of funds Draper Esprit has already raised in 2017 across its EIS, VCT and secondary co-investment fund platforms.

This Fundraising follows Draper Esprit's dual listing on AIM, a market operated by the London Stock Exchange, and the ESM, a market operated by the Irish Stock Exchange in June last year, where Travers Smith also acted for Numis and Goodbody.

The Travers Smith team was led by Corporate Finance Partner Jon Reddington and included Senior Corporate Finance Associate Jonathan Walters.

Goodbody Stockbrokers was advised by A&L Goodbody as to Irish law. Draper Esprit was advised by Gowling WLG.