Aztec Group’s Guernsey office has supported one of Europe’s leading venture capital firms with a multi-million dollar deal.
They supported on the successful close of Lakestar Continuation Fund I (“LCF I”), a US$265 million (EUR 228 million) continuation vehicle. The transaction, which was oversubscribed, marks one of the largest of its kind in the European venture capital market.
LCF I was backed by a global syndicate of institutional and professional secondary investors. The continuation fund includes a selection of premium portfolio companies across four Lakestar funds, structured through a secondary process designed to preserve upside potential while delivering liquidity to existing Limited Partners.
Aztec Group provides fund administration services to LCF I from its Guernsey office.
Matt Chick, Director at Aztec Group, said this transaction enables Lakestar to continue supporting and financing its portfolio companies, ensuring they are well-positioned to capitalise on future growth opportunities.
“We are delighted to have played a role in this milestone transaction for Lakestar. Our Guernsey team’s expertise in administering complex fund structures was instrumental in delivering a smooth and efficient process. This deal highlights the strength of Guernsey’s fund ecosystem and Aztec’s commitment to supporting innovation in the venture capital space.”
Aztec Group continues to work closely with Lakestar, having previously supported the firm on multiple fund generations including Lakestar Early IV and Lakestar Growth II.