Venture Capital & Venture Debt

We act for a number of venture funds, both Irish and international. William Fry acted on 50% of all reported Venture Capital deals in Ireland where the identities of advisors were disclosed (IVCA 'VenturePulse' survey 2020), more than any other Irish law firm. 

We have advised on the structuring of new funds and fundraisings as well as on venture capital investments across all sectors, and on exits.  We also advise companies raising venture capital and/or venture debt on the fundraising process and transaction documents.

We also act for a number of high profile venture debt providers who provide innovative financing solutions to emerging and scaling businesses.  

 

Recent Company-side work includes advising:

  • Software platform Flipdish on its €40m fundraising from Tiger Global
  • Irish cybersecurity start-up Tines on its $26m Series B fundraising lead by Addition Capital with Accel and Blossom Capital participating (and previously on Tines' Series A and A1 round)
  • Customer care platform for connected devices Sweepr on its $9m Series A Fundraising by Draper, Frontline and the Alexa Venture Fund
  • Technology developer for manufacturing MicroLED X Display Company on its Series A Fundraising
  • Supply Finance on several funding rounds and acquisition transaction including the Danish Omniveta Group
  • Quantum computing hardware company Equal1 on its equity funding rounds
  • Fenergo Group on its previous equity fundraisings including investments by Insight, Aquiline, DXC and ABN Amro Ventures and recently on its acquisition by Astorg and Bridgepoint
  • Eagle Alpha on several of its fundraisings 
 
Recent Investor-side work includes advising:
  • Atlantic Bridge on the establishment of its venture capital funds and on its venture investments in WellAir, Navitas, HiLight Semiconductor, Fieldaware, Swrve and other portfolio companies.
  • University Bridge Fund on its venture investments including Apisprotect, Plasmabound, Output Sports, Proverum and Siren.
  • ACT Venture Capital on the establishment of and investment by a significant number of its funds as well as on several exits.
  • Vivo Capital on its investment in ALX Oncology.
  • Middlegame Investments on its investment in Fintech Payslip.
  • QED Investors on its investment in Fintech Wayflyer.
  • Life Sciences Partners on its investments in OneProjects Design Innovation, Neurent Technologies, Atlantic Therapeutics and Vivasure Medical.
  • Delta Partners on the establishment of and investment by a significant number of its funds as well as on several exits.
  • Silicon Valley Bank on the majority of venture debt deals involving Irish entities.
  • Claret Capital (formerly Harbert Growth Capital) on all its Irish transactions and operations.
  •  Kreos Capital on several transactions involving Irish borrowers.

 

Guide to the Investment Limited Partnership: Ireland's new and Improved Option for Private Fund Sponsors

Ireland has recently modernised its Investment Limited Partnership fund structure with the aim of providing a flexible and tailored regime able to successfully compete with limited partnership options favoured in other private fund domiciles. This briefing is a high-level overview of the structure, its key features, parties and the establishment process.


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Team 

Stephen Keogh

  • One impressed client notes that "his care, attention to detail and general advice has been fantastic." Chambers Global 2021
  • "Stephen is a trusted adviser going back many years." Legal 500 EMEA 2021
  • In IFLR1000 2020 one client said “superb client management and technical ability and has his finger on the pulse of where the market is. We feel in safe hands with Stephen.”
  • Stephen is a well-regarded practitioner whom sources describe as "very active in the market." Chambers Global 2019
  • Clients say: "Stephen is practical and constructive, explains things clearly and is a skilled negotiator." Chambers Global 2018
  • Stephen Keogh is  "superb". Legal 500 EMEA 2018
  • According to Chambers Global 2017 clients say he is "top-class: a great guy who does a great job."

Andrew McIntyre

  • According to Legal 500 EMEA 2021, Andrew stands out as an excellent lawyer who delivers for his clients.

Mark Quealy

  • Mark "is very thorough, organised and available," clients say. Chambers Global 2021
  • Mark "is really impressive, walking away with the respect and admiration of the international deal team and more instructions from the UK lawyers." Legal 500 EMEA 2021
  • Mark regularly acts for companies on cross-border disposals to private equity funds. Clients value Mark's knowledge and experience, with one source reporting: "He is very knowledgeable in terms of the market and gives good guidance." Chambers Global 2020
  • In Chamber Global 2019 one client describes Mark as "very proactive and pragmatic," and another saying that "he is very focused on commercial outcomes."
  • Chambers Global 2018 notes Mark's expertise in "a diverse array of transactions, particularly those in the private equity and venture capital spheres", and reports that he has played a key role on numerous recent acquisitions.  Clients appreciate that he is "very quick to determine what to do from a practical point of view to get the deal over the line quickly".
  • Mark is  "well-prepared".  Legal 500 EMEA 2018
  • According to Chambers Global 2017, sources feel that Mark "has a good reputation" and "is good to deal with."

Máire O'Neill

  • "Máire's temperament and business acumen is what makes her the perfect partner for our business. Her advice was flawless and put us in a perfect position to succeed but keep our investors happy. Her approach paid huge dividends – her predictions and legal advice from our earlier engagements had come to pass, and taking her advice saved us heartache and pain." Legal 500 EMEA 2021
  • “Strong communicator, proactive, organised and excellent at finding resolutions to challenging legal areas.” IFLR1000 2020

Jason Hollis

  • Jason Hollis receives ample praise for his "excellent analytical mind and outstanding dedication to get the job done." One client reports that "he is a brilliant negotiator." Chambers Europe 2021
  • "Jason Hollis has a relentless work ethic and willingness to get the job done. He is an excellent adviser, brilliant problem solver and has a natural understanding of business." Another interviewee states "Jason is really strong and a pleasure to work with." Legal 500 EMEA 2021
  • According to Legal 500 2020, Jason has been described as "one of the best partners in Dublin: extremely hardworking, commercially astute, excellent legal advice, proactive and solutions focused," as well as having a "very professional manner and is extremely knowledgeable on the property market. I would be delighted to use his services again."
  • "Jason gives clear direction and operates a partnership approach with my team and me. He has an excellent can-do and commercial attitude." Another interviewee notes that he "is one of the new up-and-coming partners," "very knowledgeable, turns things around quickly and is dependable.” Chambers Europe 2020
  • Jason was ranked in Legal 500 EMEA 2017 as a 'Next Generation Lawyer' in Banking & Finance.

 

Key Contacts

Stephen Keogh Partner

Andrew McIntyre Partner

Mark Quealy Partner

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