27 October 2020
We have advised OMERS Ventures, the venture capital arm of Canadian pension plan OMERS, on its lead investment in PrimaryBid’s $50 million Series B financing round.
PrimaryBid allows retail investors to invest in new shares issued by public companies.
The deal was led by our corporate technology team and involved advice from across the firm.
Commenting on the deal, Corporate technology partner Alexandra Richardson said: "The equity capital markets have traditionally focussed on institutional investors, with retail investors often not being given the opportunity to invest on the same terms. PrimaryBid has made it possible for everyday investors to gain fair access to public companies raising capital, thereby enhancing fairness and transparency between investors whilst also opening a large pool of untapped capita for those companies who are looking to raise. As fintech specialists, OMERS Ventures are a natural fit for this innovative company. We are delighted to have advised OMERS on this deal and we look forward to seeing what is to come for the company with the support of its investors."
Tara Reeves, Partner at OMERS Ventures commented: " As a team, we’ve known PrimaryBid since 2019, and watched them execute their plan during these unprecedented times. It’s a testament to their vision and deep relationships that they have continued to gain the confidence of the market over the past year. Taylor Wessing provided nuanced, first-class commercial advice throughout the entire process."
The team was led by partner Alexandra Richardson with the support of corporate partner Tandeep Minhas, corporate senior associate Sam Holdsworth and corporate associate Nell Cooper.
Financial services regulatory advice was given by partner Charlotte Hill, senior associate Clare Reynolds and associates Lauren Clarke and Arnav Gupta.
Associates Isobel Bullen-Smith, Nicola Caton and Alex Walton from the firm's Commercial Technology and Data team also advised.
Employment advice was provided by senior associate James Watkins. Tax advice was given by senior associate Katie Lewis.
by multiple authors
by Robert Fenner and Tandeep Minhas