MJ Hudson, the end-to-end solutions provider to the asset management industry, is pleased to announce that it advised Concentric on the launch of its second seed/series A focused technology fund, Concentric Team Technology II LP (Concentric 02). Concentric held its first closing in July 2022 and will focus on supporting high potential software start-ups in the financial services, logistics, real estate, industrial software and mobility sectors.
Concentric 02 has an underlying portfolio of seven investments and will make initial investments of between €0.5m and €1.5m, investing primarily in European start-ups and founders, with a portion allocated to emerging market businesses, when the appropriate opportunity arises.
MJ Hudson Law supported the Concentric team throughout the design and launch phase of Concentric 02, including structuring advice (e.g. tax and regulatory) as well as fund marketing and general commercial advice relating to the fund terms.
Concentric 02 continues the Concentric team’s focus on venture capital “craftsmanship” and activist investing. As Founder Kjartan Rist explains: “We aim to drive opportunity, innovation and scale, by building active personal relationships, maximizing our diverse network of experts, and always going the extra mile for our partners”.
Mark McDonald, Concentric’s Finance and Operational Partner said “The MJ Hudson team provided invaluable support and advice throughout the launch and closing process of Concentric 02, allowing us to have a smooth and pain-free first closing. We thoroughly enjoyed working with Ronan, Karma and Will who really kept the momentum on the closing process by proactively managing the other service providers as and when needed as well.”
Ronan McCann, MJ Hudson partner, commented: “We are very pleased to have assisted Concentric with the formation and launch their second fund which will help provide vital support to innovative European start-ups to build scale and grow fast. We look forward to supporting the Concentric team throughout the fund-raising process and moving forwards on the wider execution mandates.”
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ABOUT MJ HUDSON
MJ Hudson (AIM:MJH) is the end-to-end solutions provider to the asset management industry, specialising in private markets and alternative investments. The firm helps fund managers and investors run more smoothly and perform at their best, through an integrated suite of advisory, outsourcing and analytical services, supported by a range of sophisticated digital tools.
MJ Hudson’s team of more than 350 lawyers, fund accountants, ESG consultants, developers and other professionals, serves more than 1,000 clients, across the globe, including some of the industry’s largest players.
Founded in 2010, by CEO Matthew Hudson (a private markets lawyer and former fund manager), MJ Hudson was admitted to the AIM market of the London Stock Exchange in 2019.
ABOUT MJ HUDSON’S LAW VC PRACTICE
One of the key pillars within the MJ Hudson law division is its venture capital expertise which is uniquely positioned to support clients right across the venture spectrum both on fund formation and on deals. This includes advising institutional and family office LP clients on direct and indirect investment mandates, venture capital fund managers on structuring onshore and offshore funds and launching spin-out funds as well on co-investment structuring advice and support and direct deal execution; and founders and entrepreneurs on company formation and scaling.