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Goodman Derrick Technology Group Advises in Relation to Three Fundraisings

Goodman Derrick’s technology group ended a busy 2013 with lead roles in relation to three equity fundraisings for technology companies.

Venture capital investment into a disruptive insurance technology company

REG (UK) Ltd – this company has developed an innovative online platform for the insurance sector, enabling insurers, Lloyds managing agents, brokers and managing general agents to disseminate and share information, and meet their compliance obligations.  Goodman Derrick acted for the company in relation to the grant of a significant minority stake to well-known venture capitalist Edmund Truell, who invested alongside Londongate Investments & Management plc, an established investor in insurance projects.  Mr Truell led the buyout and formation of Duke Street Capital in 1998, co-founded Pension Insurance Corporation, which has over £9 billion in assets under management, is chairman of the London Pension Fund Authority and is group CEO of Tungsten Corporation plc.  Edmund Truell commented:  “REG is a disruptive technology which will completely change the way the insurance market operates”.

Second round fundraising for an innovative online sports and fitness marketplace

Playenable Limited – this company is developing an online marketplace connecting sports and fitness enthusiasts with providers of sports activities.  Its platform enables users to review and book gyms and other sports facilities at times and locations convenient to them.  Goodman Derrick acted for the company in relation to a second successful round of fundraising, after the company had raised initial funding on the Seedrs crowdfunding platform.

Pre-pack acquisition of an online luxury fashion business

My-Wardrobe Limited – this company acquired the trading activity and certain of the assets of the “My-Wardrobe” business, through a “pre-pack” administration process.  The company operates an online luxury women’s fashion business.  Goodman Derrick acted for the company in raising funds from a group of investors, and in the related acquisition of the business from the administrators.

Paul Webb, head of the technology group at Goodman Derrick, commented:  “successfully concluding these three significant fundraisings completed a notable year for our technology group.  The transactions we’ve been involved in, including public and private equity fundings and M&A transactions, are indicative of the firm’s growing reputation in this sector”.

Notes to editors:

  • Goodman Derrick’s corporate team of 19 lawyers is known for its commercial approach to delivering client transactions.
  • Our technology sector team advises a wide range of technology-focused businesses, including those in information technology, digital media, cleantech, biotechnology and other life sciences.
  • The firm is made up of 29 experienced partners managing a team of 90, organised into specialist practice and sector groups.
  • Adviser to FTSE-listed, national and international businesses, including many household names.
  • Recognised as leading lawyers by the independent guides to the legal profession, Chambers & Partners and Legal 500.
  • “The kind of firm that gains your trust and never loses it”, Chambers and Partners Guide to the Legal Profession.
  • A member of the worldwide Legal Netlink Association, a network of independent law firms, and associated with Levy & McRae, leading Scottish solicitors.

If you require any further information please contact:

Paul Webb, Head of Technology, Goodman Derrick at pwebb@gdlaw.co.uk or on +44 (0)20 7421 7956

James Caulfield, Head of Business Development, Goodman Derrick at jcaulfield@gdlaw.co.uk or on +44 (0)20 7421 7968