Guernsey-based 1818 Venture Capital has made a substantial equity investment in Level, a UK-based and FCA regulated lender within the family and private client law sectors, and set up a dynamic new debt facility for the company, representing a combined total investment approaching GBP20 million.
Since its launch in 2017 Level has become the UK’s top ranked lender in the family law sector according to Chambers & Partners, the world’s leading provider of legal research and analysis. Level unlocks future liquidity for clients and law firms in family law proceedings, probate, and other related matters. This allows clients to access justice through proper legal representation or to achieve their financial goals without the delay that court proceedings often entail. The company works with over 200 UK law firms and has funded hundreds of cases and clients.
George Williamson, Founder and CEO of Level, says: “We are delighted to welcome 1818 Venture Capital as a shareholder. Their investment, and in particular the fact that we were able to achieve it during lockdown, is a testament to the strength of our team and our leadership position in the family and private client lending marketplace. We see significant growth opportunities ahead and this new equity capital, combined with our new and highly flexible funding line, will allow us to capture those opportunities.”
Richard Avery-Wright, Founder and CEO of 1818 Venture Capital, says: “At 1818 Venture Capital, whether we are looking at investments for our digital transformation portfolio or our opportunistic portfolio, we look to back exceptional management teams that have a clear plan for high growth. In George Williamson and the rest of the Level team we identified a supremely talented CEO and an ambitious team that have become market leaders in their niche, winning recognition from major law firms throughout the UK and industry ranking organisations like Chambers and Partners.
Mark Smith, Partner with 1818 Venture Capital, says: “With this equity investment and the provision of a significant revolving credit facility, arranged by 1818 and provided by one of our close contacts in the insurance sector, Level will accelerate its remarkable upward trajectory in an expanding market segment that can help give borrowers access to fairness and hence “level” the litigation playing field.”
Marc Sefton, Partner at Quilam Capital, which originally backed Level in 2017, says: “Having supported George and the management team from day one, we are delighted to see the business secure this round of funding, which will act as the springboard for future growth, new products and innovation within the business. We are excited to be working with 1818 Venture Capital, who further strengthen the Board with their experience and expertise.”
