DLA Piper has advised Accelerated Digital Ventures (ADV) on the launch of  a new tech venture platform that will fund all stages of the digital technology business lifecycle, from entry to exit. The platform is being funded by ADV’s three institutional investment partners, the British Business Bank, Legal & General plc and Woodford Investment Management.

ADV plans to deploy an initial £150 million in investment to help British tech businesses to startup, scale and succeed, with the long-term aim of using this platform to invest upwards of £200 million every year into UK-based businesses.

ADV will inject evergreen patient capital at early stage (via microfunds, accelerators and incubators), growth stage (Series A), and late stage (Series B, C and beyond). It will also deploy funding and expertise to accelerate the scaling of its portfolio companies.

DLA Piper has been working with the ADV founder team from inception of the concept  three years ago and advised ADV on all aspects of the current transaction.

Jon Kenworthy, Corporate partner at DLA Piper, said: "This platform is a champion for innovators. The UK is a hotbed for new digital talent but often the frictional cost of capital and legal barriers to entry are too much for startups to navigate. A  helping hand from platforms such as ADV's will enable digital businesses across the UK to reach their full potential, thereby cementing the UK's position as a leader in digital technology.

"It has been the pleasure of our  Technology sector focussed team to assist ADV with the first part of its journey and we look forward to working with them in the future and seeing the business grow and make many cutting-edge investments"

Lee Strafford, CEO of ADV, said: "Lots of people across the UK's tech ecosystem supported us as we developed ADV and DLA Piper has been there from the very beginning. We share a vision of the importance of tackling the structural problems holding back the development of scaleups based across the UK. The professionalism and expertise of the team has made it possible for us to start our operational journey."

The DLA Piper team was led by Jon Kenworthy and included Corporate associate Dylan Kennett (Corporate), Funds partner James O'Donnell and Head of Financial Services Regulatory, Michael McKee.