Bird & Bird has advised regular client Index Ventures on the the £5.2 million Series A round financing of London House Exchange Limited (trading as Property Partner). The financing was led by Index with participation from existing investors, including Octopus Ventures and Seedcamp.
Property Partner was founded by Daniel Gandesha and launched in January 2015 as a property crowdfunding platform which enables people to invest in individual residential properties just as they can in company stocks. Property Partner currently lists properties in London and the South-East of England. To date, more than 1,000 people have invested sums ranging from £50 to £50,000 in homes through Property Partner’s crowdfunding platform, with the average investment size rising continually since launch and the platform attracting a significant amount of media interest.
André Dubois, General Counsel of Index Ventures, said: "This transaction was another example of the consistently high level of service that we receive from Angus and the B&B Venture Capital Group".
The Bird & Bird team was led by London Corporate partner Angus Miln, assisted by Shing Lo (Corporate), Trystan Tether and Oliver Irons (Banking & Regulatory). Other legal advisors on the transaction included Nabarro LLP and Shoosmiths LLP.