05 July 2016

Carey Olsen advises Grafton Capital on Jersey technology fund

Offshore law firm Carey Olsen has advised Grafton Capital on its recent launch of a technology-focused fund, Grafton Capital Felix LP, which closed with a total fund size of 26 million Swiss Francs.

Grafton Capital chose Jersey's Private Placement Fund (PPF) regime for the fund, which was established with a single purpose and immediately acquired a minority interest in BOARD International, a leading global provider of a software platform for unified business intelligence, performance management and analytics.

Carey Olsen funds partner, Daniel O'Connor, and senior associate Chris Griffin, who led the team, advised on the Jersey legal and regulatory aspects of the fund's establishment and regulatory authorisation with assistance from associate Katrina Lindsay.

Grafton Capital partner, Edward Barroll-Brown, said: “Our strategy is to partner with the founders of the most promising, profitable, high growth companies in European software.

“In BOARD we have found a terrific example of this and we needed to move quickly to secure this opportunity. The team at Carey Olsen, along with the JFSC, enabled us to establish this institutional-quality fund in a very short period of time.” 

Chris Griffin said: "Jersey's PPF regime's flexibility and speed was invaluable in allowing Grafton Capital to seize this technology investment opportunity and demonstrates why Jersey should be the first choice jurisdiction when considering the establishment and regulation of technology funds."