Slaughter and May is advising PrimaryBid Limited on its Series C investment of approximately $190 million, led by SoftBank Vision Fund 2.
PrimaryBid is an FCA-regulated platform that connects retail investors with listed companies on debt and equity offerings. In the past 18 months over 150 follow-on and IPO transactions have listed on the platform in the UK (including the UK IPOs of Deliveroo, PensionBee and the US IPO of MCG Group (Soho House)).
The proceeds of the fundraising will be used to expand PrimaryBid’s offering across continental Europe, leveraging key strategic partnerships with ABN AMRO and Euronext, as well as launch in new geographies including the United States.
Slaughter and May’s work on PrimaryBid’s fundraising builds on the relationship having advised on a number of aspects of its development and offering, including its role on the Deliveroo and PensionBee IPOs, as well as its $50m Series B funding round in October 2020.
The Slaughter and May team was led by newly elected Co-Head of Corporate Richard Smith and tech transactions Co-Head Rob Innes, supported by Jess Stewart as lead associate and Philippa Mosley (Associate). Dominic Robertson (Partner) provided tax advice and Ben Kingsley (Partner) and Chris Hurn (Associate) regulatory advice.