TLT has advised Par Equity, a Scotland-headquartered owner-managed venture capital firm, on a significant investment in Belfast-based data software company, Datactics.
Par Equity facilitates investment in smaller companies with high growth potential with a particular focus on innovative companies doing things in new and better ways.
Datactics provides class-leading data quality and powerful matching software to the financial services sector. It will use the investment to continue to increase its product functionality, improve efficacy of customer support and expand its sales and marketing reach.
TLT led Par Equity through the £1.2m funding round, engineering a successful collaboration between Par and Northern Ireland (NI) /Republic of Ireland (ROI) venture capital fund, Kernel Capital.
The TLT team was led by corporate associate Grant Edwards in NI, alongside, employment legal director Leeanne Armstrong and banking and restructuring associate Michael Kelly.
Graeme McKinstry, portfolio manager at Par Equity, says: "We are passionate about building value into early-stage companies. TLT shares this passion and they recognised our interests in closely aligning with Datactics and the rest of our managed venture funds.
"Venture capital is a hands-on process and where technology is involved, legal expertise is essential. Grant and the TLT team enabled the successful addition of Datactics to our portfolio, which fits with our focus on businesses with global ambitions and innovative technology at their core."
Andrew Jennings, partner at TLT, says: "Venture capital and other funds outside of NI are increasingly seeing the strength and breadth of NI tech businesses. More and more we are seeing funds flowing into NI alongside the more traditional markets, like London, for example. This is driving up competition and supporting the local economy and we are delighted to be working with investors like Par Equity to invest in strong, talented companies and drive these businesses forward."