Law firm works on $100m funding deal for tech firm
Bristol law firm Osborne Clarke advised a technology investor on the launch of its new $100 million investment fund focused on health and climate deep technology.
SCVC is an active lead investor in UK deep tech companies. It invests at the early-stage in pre-seed / seed rounds and can support through to series A investments.
These include advanced technologies ranging from biotech to quantum tech, partnering with companies aligned with its mission of improving the health of people and the planet.
The new fund, targeting $100m in commitments, will invest at pre-seed and seed stage with initial cheque sizes of $500,000 up to $3m. It will also provide follow-on funding of Series A tickets up to $7m. Its first investment is VyperCore, a RISC-V startup developing modified processors.
SCVC was founded by Harry Destecroix who also co-founded biotech startup Ziylo while studying for his PhD at the University of Bristol.
Destecroix is joined by SCVC co-founder Jon Craton, an angel investor and former co-founder of Zynstra, which was acquired by NCR Corporation.
The Osborne Clarke funds team which advised SCVC was led by partner Helen Parsonage and included associate Owen Baldwin.
Catherine Fletcher, principal at SCVC, commented: “Osborne Clarke was the perfect fit for us – efficient, pragmatic and effortlessly able to interpret our needs into reality. Helen Parsonage and her team were a pleasure to work with and I cannot recommend them highly enough.”