Smedvig Capital, a private equity investor based in Mayfair, pumped in GBP 4 million into Kings Court Trust. The latter is a service provider of probate and estate administration matters based in Bath. This is Smedvig Capital's first investment a firm that provides legal services. A spokesman for the venture capital company confirmed the investment after they made a thorough and lengthy search for suitable partners in the sector. Kings Court Trust will not be the last, however, as the spokesman said that Smedvig Capital will continue to lookout for investment opportunities in the legal market.
Founded in 1996, Smedvig focuses its investments to UK and Nordic businesses that require GBP 2 million to GBP 10 million in capital. They have a GBP 6.8 million stake in myhomemove, a conveyancing provider, and has put in more than GBP 500 million to Streetcar, Lovejuice, and Vinopolis.
In related news, Duke Street, another private equity investor, acquired Parabis in a GBP 200 million deal in February last year. Parabis is a personal injury firm.
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