London, United Kingdom – Addleshaw Goddard, the international law firm, has advised long standing client Hakluyt & Co on the launch of its investment arm Hakluyt Capital and the final close of its maiden fund, exceeding its fundraise target of $50 million.

Hakluyt Capital is now building its presence in Silicon Valley. The fund will invest alongside leading venture capital funds in technology focussed start-ups. Hakluyt Capital's successful first fundraise has bucked the trend of a more challenging fundraise environment for emerging fund managers.

Addleshaw Goddard acted as international fund counsel and advised on all aspects of the fundraise, fielding a team of funds, tax and regulatory specialists.

Jan Gruter, lead partner in Addleshaw Goddard's international Private Funds Group, said:

Nick Bidmead, Hakluyt Capital's managing partner, commented:

“The close of Hakluyt Capital’s first fund is an incredibly exciting moment for us, and one it was critical to get right. We greatly valued Addleshaw Goddard’s excellent team, who supported us with timely and commercially focussed advice with a real can-do attitude.”

The Addleshaw Goddard team was led by private funds partner Jan Gruter, supported by private funds managing associate Aidan McConville, legal director Jagdip Gujral and associate Grace Towey. Funds regulatory partner Richard Small and employment partner Richard Yeomans provided further specialist counsel.