EIS funding for cloud-based data archiving company

Arkivum provides data archiving software solutions for the preservation of digital assets using cloud-based software, specialising in the pharma and life sciences, scientific research, and higher education and heritage industries.

With over 30 private investors and 5 venture capital funds investing in the Enterprise Investment Scheme (EIS) round, Herrington Carmichael prepared and submitted HMRC valuation and clearance applications, replace an existing employee EMI scheme whilst managing an investment round with three separate closes over a 6-month period, including both debt and equity investment.

Having completed 4 previous investment rounds, Arkivum had a complex legal legacy to work with including negotiating and agreeing legal documentation with multiple Venture Capital stakeholders whilst complying with EIS requirements and buying back leaver shareholdings, leading to an overhaul of the then current share capital table.

This transaction was led by Matt Lea and supported by Chris Gemson and Emma Docking. The team was happy to work with Wilson Partners who supported Arkivum with specialist tax advice.

Yavan Brar
Managing Partner, Head of Corporate
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This reflects the law and market position at the date of publication and is written as a general guide. It does not contain definitive legal advice, which should be sought in relation to a specific matter.

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