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Hogan Lovells acts for the Irish National Treasury Management Agency on the IPO of Draper Esprit PLC

16 June 2016

A team of Funds lawyers at Hogan Lovells has advised the Irish National Treasury Management Agency (NTMA) in its capacity as manager of the Ireland Strategic Investment Fund (ISIF), which is a cornerstone investor in the newly listed Draper Esprit PLC. ISIF is the Irish government's €7.9 billion sovereign development fund  and has previously invested with the same management team in their private venture capital fund. 

Draper Esprit PLC commenced trading on 15 June after raising €102m at a price of €3.93 per share. Its primary listing will be on the Alternative Investment Market (AIM) in London and it will also be listed on the Enterprise Securities Market (ESM) of the Irish Stock Exchange. The company will make venture capital investments with a focus on fast growing technology and digital businesses in the UK, Ireland and Europe. Its management believe this is the first time that a venture capital fund of this type has chosen to float, with other similar listed funds focussing mainly on university spin outs.  It is also one of the first listed investment funds of 2016.

Hogan Lovells advised NTMA on English legal and tax issues, and the team was led by partner and Head of Listed Funds Erik Jamieson with support from senior associate Amelia Stawpert, tax partner Kevin Ashman and NTMA relationship partner Nicholas Holman.  Hogan Lovells has advised NTMA on a number of its previous alternative investment fund allocations across a range of alternative asset classes.


Adam Leviton 

Public Relations Manager (Transactions)


+44 20 7296 5299

The team

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