Increasing levels of activity from venture and private equity funds over the past 12 months has continued into 2021 with significant interest from new managers looking to launch their first fund in Guernsey, according to Ogier’s funds team on the island.
The team recently acted as lead counsel to Reference Capital, a new manager in Guernsey, on the formation and registration of Reference Seed Fund I as a private investment fund (PIF) and on its initial and subsequent close.
Ogier's team – Partner Tim Clipstone, Managing Associate Richard Doyle and Legal Assistant James Dickinson – advised Reference on all legal and regulatory aspects of the fund's launch as a PIF.
Richard Doyle commented: "We've advised on the closing of a number of technology-focused funds structured as PIFs in Q1 this year, in the venture and private equity sectors and with underlying technology portfolios as diverse as healthcare, fintech, e-commerce and human resources."
Reference Fund is a fund of funds structured as a Guernsey limited partnership which targets investments with a global coverage (China, Israel, Europe and USA) in Seed stage technology focussed funds.