22 May 2017

Carey Olsen advises on new Jersey Private Fund for TempoCap

Carey Olsen's Jersey funds team has advised TempoCap Limited, a leading technology investment firm, on the establishment of a new investment vehicle, TempoCap 2S L.P., one of the first Jersey Private Funds to be formed since the new regime’s introduction.

The Fund is a closed-ended limited partnership managed by its general partner company situated in Jersey which invests in European growth and venture assets.

Carey Olsen partner Robert Milner led the team, assisted by counsel Chris Griffin and associate Joseph Barker-Willis, advising on the Jersey aspects of the Fund's establishment.

The new Jersey Private Fund regime provides for fast track, forty eight hour regulatory approval of private investment funds with up to fifty professional investors.

Chris Griffin said: "We were delighted to assist TempoCap and utilise the new Jersey Private Fund regime which allowed us to reach closing in a tight timeframe. The new Jersey Private Fund regime is already proving extremely popular and we know the new regime inside out having been involved in key industry working groups which were directly involved with the formulation of the JPF."

TempoCap Limited investment partner Thomas Dadashi said: "As a technology venture capital investor, we are always enthusiastic when it comes to being a pioneer."

Since July 2014, Carey Olsen's funds team has advised on 43 per cent of all new funds business in Jersey, twice the number of the next law firm, according to the 2016 Monterey Insight Jersey Funds Report.