Lazard, the worldwide funding bank, has been quietly recruiting a ten-person team in London to head up its newly created “Venture and Growth Banking” division to match buyers with European scale-ups.
Unlike some funding banks, the focus of Lazard Venture and Growth Banking will embody Series B and C. That’s sooner than many startups sometimes interact the assistance of an funding bank when elevating capital and speaks to the sheer variety of European startups at the moment chasing a pool of enterprise capital that’s more and more international and fragmented.
The Lazard Venture and Growth Banking team might be headed up by ex-Numis staff Garri Jones and Nick James, with each serving as Managing Directors.
Noteworthy, in accordance to his LinkedIn profile, Jones was beforehand Venture and Broking Lead at Numis. He was additionally a founding companion at Circle Health, serving to to develop the corporate from seed to IPO. Jones can also be a board member of inventory photograph startup Picfair.
James, who will take up the position of COO at Lazard Venture and Growth Banking, is a well-respected fairness analysis analyst and additionally just lately left Numis (his LinkenIn says he’s on gardening go away). He was beforehand an funding supervisor at Nomura in its expertise VC team.
The different eight members of the team are mentioned to be a mixture of skilled entrepreneurs, bankers, engineers and knowledge scientists.
In explicit, I perceive the Lazard Venture and Growth Banking team see untapped growth-stage alternatives past extra “classic” VC sectors, similar to client, SaaS and fintech, to additionally embody AI, life sciences and clear tech — areas that requite deep tech and engineering experience to consider and perceive correctly.
In different phrases, Lazard believes that intermediation within the type of an funding bank with the precise team and connections could make the distinction at Series B, C and past — each for buyers and corporations searching for capital.
Specifically, Lazard Venture and Growth Banking will look to determine the highest 100 fastest-growing startups in Europe and join them to 400 or so buyers. These buyers might be a mixture of institutional funding, together with enterprise capital and personal fairness, together with sovereign wealth funds, and excessive internet price people.
A massive proportion of buyers might be made up of corporates, too. I perceive the considering inside the new Lazard division is that there in an abundance of company enterprise that is still untapped, with a few of Europe’s largest corporates hoping to play catch up after traditionally underinvesting in R&D.
However, it isn’t merely a case of matching corporates (or their enterprise arms) with fast-growing startups. It is equally essential to match the proper corporates to the precise startups — and once more that is the place the Lazard Venture and Growth Banking team consider it will possibly add worth.
Meanwhile, Lazard can also be planning to host a three-day convention in April 2020 the place it should convey main corporations and international buyers collectively by means of a collection of panel discussions and “bespoke investor and company meetings”.