Law firm Shoosmiths has advised venture capital (VC) firm Lakestar on its investment as part of a $50 million series C fundraise into spend optimisation platform Vertice.
The Series C investment will further accelerate Vertice’s mission to create the go-to unified product for modern procurement teams, offering fully customisable procurement workflows that deliver AI-supported insights into spend optimisation, usage and risk management.
Lakestar is one of the leading pan-European venture capital firms, managing an aggregated volume of over €2bn across four early-stage funds and two growth funds.
The Shoosmiths deal team was led by corporate partner Alistair Hammerton, supported by principal associate Charlotte Cannell and associate Hugh White.
Alistair Hammerton, corporate partner and head of Shoosmiths’ VC practice, said: “We are proud to have advised Lakestar on such a significant investment, with Vertice clearly establishing itself as market leader in the technology and procurement market. This investment is another example of Shoosmiths being at the forefront of international investment within the technology sector, enabled by the firm’s vast tech market knowledge and insight.”
The investment was spearheaded by Shoosmiths’ VC team, which has been recognised as the most active law firm advising on VC transactions for three consecutive years (according to PitchBook’s global league tables). This investment underscores the firm’s dedication to advising some of the world’s most exciting and ambitious businesses.
