International law firm Bird & Bird has advised InMedia Invest 1 KS, a Norwegian private equity fund, on its participation in the £3 million seed round financing of The 5th Medium Limited. The transaction (structured as an issue of convertible loan notes) is the second venture capital investment that Bird & Bird has successfully closed for new client, InMedia, in the last six months.
T5M is a revolutionary video based entertainment, lifestyle and socially conscious network site. The company launched its beta test site in December across seven launch channels (biography, lifestyle, health, entertainment, fashion, luxury and causes). From official launch in early 2008, T5M aims to change the way people interact with media online, creating a platform with an unprecedented breadth of content taken from talent interviews, and events worldwide.
Angus Miln, a Senior European Consultant in the Corporate Group, headed the Bird & Bird team, assisted by corporate associate, David Lowe.
Knut Eikrem, Investment Manager of InMedia, said “It was great to work with Angus and the Bird & Bird team on another successful venture financing transaction. They helped us out at very short notice and were instrumental in helping us close the investment within the required timeframe.”
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