Bates Wells has advised Friends Provident Foundation, Barrow Cadbury, The Clothworkers Foundation and the Linbury Trust on their investment into Social Tech Ventures (STV) venture fund, the UK’s first impact-focused early-stage venture fund explicitly designed around a revenue-first investment strategy.
The new fund will invest at pre-seed and seed stages, in technology companies, addressing social and environmental challenges, including financial resilience, climate and environmental sustainability, and health and wellbeing.
STV is mission-driven while also utilising a commercial business model for sustainability. They focus on creating, scaling, and delivering impact through innovative solutions rather than just profit.
Sung-Hyui Park, Partner, and Leela Fair, Senior Associate, advised the anchor investors on this transaction.
Sung-Hyui Park commented: “It has been wonderful working with these organisations to support their investment into STV’s new fund. The fund addresses a persistent gap in the UK impact investment landscape, addressing critical social and environmental challenges.”
James Anthony, Social Investment Portfolio Manager at Friends Provident Foundation, said: “Bates Wells’ legal advice was excellent and a big part of us getting the Social Tech Ventures deal over the line. Their expertise and clear communication stood out throughout the process.
By supporting the legal process, Bates Wells has helped us further our mission of a fair and sustainable economy, through investment.”