Manches has successfully seen through its third high profile internet deal in three weeks.
The firm's latest deal involved advising Musicunsigned Ltd (www.musicunsigned.com) – the internet company which promotes unsigned artists via the web – on a venture capital deal with a private investor. The internet deals from the previous fortnight involved Marks & Spencer and Moss Bros.
“We have seen an explosion of Internet business this autumn,” says Matthew Martin, a partner in Manches Corporate Finance department. Paul Woolf head of Manches Media Group says: “The entertainment business is being revolutionised daily and my team understand the legal, business and technological issues involved in this revolution.”
The deal, which involved a reorganisation of Musicunsigned Ltd's share capital, provides the company with a substantial level of capital in return for a stake in the company. The investment values Musicunsigned Ltd at £4 million.