Ferbrache & Farrell and Aztec Group have supported the launch and closing of the first Guernsey-regulated defence fund and Europe’s largest dedicated dual-use and defence technology fund.
The firms assisted their long-standing mutual client, Lakestar, a European venture capital investment adviser, with the successful closing of the $300 million Resilience I Fund.
Resilience I invests in dual-use and defence technology companies across European and NATO-allied markets. The fund was oversubscribed, with investor interest significantly exceeding its target size.
Its portfolio covers a range of technologies intended to support European and allied security and resilience, including advanced autonomous systems, artificial intelligence-driven defence software, sovereign drone manufacturing, missile technology, space technologies and maritime platforms.
The investments have been made in accordance with guidelines and guidance issued by the United Nations, NATO, the United States, the European Union and Guernsey.
Guernsey regulatory approval followed extensive engagement with the Guernsey Financial Services Commission.
Clifford Chance in Munich acted as lead legal counsel, with Ferbrache & Farrell serving as Guernsey legal counsel and Aztec Group acting as fund administrator.
The Ferbrache & Farrell team was led by Gavin Farrell (pictured), Stuart Nash, Helen McGeoch, David Millar and Glyn Davies, who advised on the Guernsey regulatory and corporate aspects of the launch.
The Aztec Group team comprised Matt Chick, Mark Thoume, Chris England and Will Bodkin, supported by colleagues across the wider business.
