Burness Acted for Hermes and European Investment Fund
Burness LLP was instructed by O’Melveny & Myers to act for Hermes (www.hermes.co.uk/ic_hpe.aspx) in relation to the Scots law aspects of a £125 million fund focusing on the low carbon and clean technology sectors. 50% of the fund will be invested in UK businesses and the remaining 50% in cleantech-focused funds.
Burness LLP was also instructed by Macfarlanes LLP to act for the European Investment Fund (www.eif.org) in relation to the Scots law aspects of a £200 million fund which will be used to benefit life sciences, digital and advanced manufacturing businesses.
Both funds are structured as Scottish limited partnerships and form part of the UK Government’s £1 billion flagship UK Innovation Investment Fund, which is a fund of funds launched in June 2009 to invest in technology-based businesses with high growth potential as part of the Government’s strategy for “Building Britain’s Future”. The UK Innovation Investment Fund focuses on investing in growing small businesses, start-ups and spin-outs, in digital and life sciences, clean technology and advanced manufacturing.
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