Venture capitalist BGF today confirmed a new multi-million-pound investment into two more law firms.
The company, which describes itself as ‘the UK’s active investor in growing companies’, has injected cash into niche property firms Equilaw and Thomas Legal. The company has not disclosed exactly how much has been staked, nor the returns it expects on the investment.
Equilaw is a dedicated equity release adviser, working with homeowners and financial advisers to help them release funds for retirement planning, home improvements or care provision. Its team of 70 staff is based in Gloucester.
Thomas Legal focuses on high-end conveyancing services, largely in the south-west and London.
Ned Dorbin, an investor at BGF, said: ‘The equity release market has grown rapidly in recent years and Equilaw has established itself as the leading provider across the UK. Thomas Legal has also built an excellent reputation over the last 12 years due to its deep conveyancing expertise, quick turnaround times and high standards of service for customers.
‘Led by experienced management teams and supported by market-leading technology, the businesses are well-placed to capitalise on a growing industry and we’re excited to be working with the teams in this next stage of growth.
BGF was set up in 2011 and has invested more than £1.8bn in 260 companies. Its model is to become a minority, non-controlling equity partner with a ‘patient outlook’ on investments based on ‘shared long-term goals’.