Baker Botts L.L.P.,announced today its Corporate Venture Capital (CVC) client Aviva, UK’s largest insurance group, successfully closed a $10.4 Million Series B funding round with Roost for a strategic funding investment in the United States.

Roost is a leader in Home Telematics for property Insurance carriers and creator of the Roost Smart Battery and the Roost Smart Water Leak and Freeze Detector solutions.

Baker Botts advises Aviva Ventures, Aviva’s Corporate Venturing arm, on deals in the United Kingdom and the United States.

“This was our first deal for Aviva Ventures, and we have been instructed on numbers two and three. Aviva is very active,” said Neil Foster, Baker Botts partner and lead lawyer for Aviva. “What is key for our Corporate Venturing clients is that we have offices in the three leading CVC locations in the world: Silicon Valley, London and New York.”

“Corporate venturing is a specialist subject, and differs from other VC deals in many ways, due to the strategic objectives of our corporate clients. This is an area of major growth for our firm because it is an area of substantial growth for our clients. There is double the number of CVC units today than just four years ago,” Mr. Foster continued.

Baker Botts is widely recognised for its CVC expertise and has represented many start-up company founders, investors and venture capitalists in London, California and New York.

The Baker Botts team was led by partners Neil Foster (London) and Brian Lee (Palo Alto) on the Term Sheet. Mr. Lee and associate Clark Wilkes (Palo Alto) lead on the deal.