Osborne Clarke advises Illuminate Financial on $135m Early Growth Fund

International legal practice Osborne Clarke has advised leading VC firm Illuminate Financial on the launch of its $135m Early Growth Fund.

Targeting enterprise AI and fintech companies at the critical inflection point between proven technology and institutional scale, the Early Growth Fund is Illuminate's fourth fund and first to target the Series B+ stage, a deliberate expansion built on over a decade of early-stage fintech investing.

The Osborne Clarke team advised on all aspects of the fund's structure, establishment and investor negotiations, supporting Illuminate Financial in raising $135m from investors including BNP Paribas, Citi, Deutsche Börse, HSBC, Jefferies, RBC, S&P Global, and TD Securities.

Osborne Clarke has a long-standing relationship with Illuminate Financial and has advised on all of its fund launches since 2015, reflecting the firm's expertise in international fund structures and technology-driven financial services.

This is the fourth fund in the last decade that we’ve successfully closed with Osborne Clarke as our key legal partners. Once again Helen Parsonage and her team have been a core partner in bringing the fund to market, pragmatically helping us deal with negotiating with many new institutional limited partners and responding to their individual needs as world class regulated organisations whilst keeping our goals front and centre.

Mark Beeston, Managing Partner and Founder, Illuminate Financial.

Our work with Illuminate Financial on this latest fund reflects a trusted relationship built over multiple fund formations and launches. These mandates draw on Osborne Clarke's track record in advising a high number of VC managers on their fund structures and investor terms, including where AI and digital infrastructure are reshaping the financial services landscape.

 Helen Parsonage, Partner, Osborne Clarke.

The Osborne Clarke Financial Services team was led by partner Helen Parsonage with support from associate director George Skinner and associate Tom Burgess.