Company Announcements

5 September 2022

Oakley Capital Investments Limited

Oakley Capital Investments Limited¹ ("OCI") is pleased to announce that Oakley Capital Origin Fund² ("Origin Fund") is investing in vLex, an online legal information subscription platform.

OCI's indirect contribution via Origin Fund will be c.£8 million.

Note that the above figure only relates to OCI's share of Oakley's overall investment in vLex.

Further details on the transaction can be found in the below announcement from Oakley Capital^3.

Oakley invests in global legal information platform vLex

·      Cloud-based, online subscription platform offering easy access to global legal & regulatory information

·      Clients include law firms, universities, corporations and government agencies

·      Digitisation and increasing legal and regulatory complexity driving growth in $21bln global LegalTech market

Oakley Capital ("Oakley"), the pan-European private equity investor, is pleased to announce that Oakley Capital Origin Fund is partnering with the founders of vLex, a cloud-based legal information subscription platform. Founded by brothers Lluis and Angel Faus and headquartered in London, Miami and Barcelona, vLex provides over two million users with access to an online library of global legal and regulatory information including case law, legislation, journals and dockets from over 100 countries. vLex's scalable and smart data ingestion process, coupled with AI-powered search engine functionality makes research and analysis faster and easier, increasing productivity for users. The Company's diverse customer base includes law firms, universities and law schools, government agencies and corporates across Europe, Africa, Asia, Oceania, the Caribbean, and the Americas

vLex has consistently generated double-digit revenue growth in recent years, thanks to strong management, a differentiated product offering and market tailwinds. The Company expects profits to grow more than 20% this year. The global LegalTech market is worth $21 billion and growing as legal information users digitalise their business models further and amid the growing complexity and internationalisation of laws and regulations.

Oakley's partnership with vLex builds on the firm's significant expertise supporting digital-first, data and information platforms including TechInsights, the world's authoritative information services platform for the global semiconductor industry. It is also Oakley's fourth platform deal in Iberia, following the firm's investments in property portal idealista, business software provider Grupo Primavera, and advertising technology disruptor Seedtag. Oakley's latest investment will help vLex's management accelerate their strategic goal of building a cost-effective leader in the fragmented market for legal research, through organic growth and M&A.

Oakley Capital Founder and Managing Partner, Peter Dubens, commented: 

"vLex has all the hallmarks of an Oakley deal: a fast-growing, disruptive business model in a niche sector, led by ambitious business-founders. We look forward to partnering with Lluis and Angel to help them build a successful product in the global market for legal information."

vLex Co-Founders Lluis & Angel Faus said:

"Oakley has a strong track record helping successful, tech-enabled businesses grow, through internationalisation, product optimisation and buy-and-build, both in Spain and abroad. We particularly liked their entrepreneurial ethos and heritage, and look forward to working with the Oakley team as we deliver on our strategic objectives for vLex."

- ends -

For further information please contact:

Oakley Capital Limited

+44 20 7766 6900

Steven Tredget

Greenbrook Communications Limited

+44 20 7952 2000

Rob White / Michael Russell

Liberum Capital Limited (Financial Adviser & Broker)

+44 20 3100 2000

Chris Clarke / Darren Vickers / Owen Matthews

Notes:

LEI Number: 213800KW6MZUK12CQ815

¹ About Oakley Capital Investments Limited ("OCI")

OCI is a Specialist Fund Segment ("SFS") traded investment vehicle that aims to provide shareholders with consistent long-term capital growth in excess of the FTSE All-Share Index by providing liquid access to private equity returns through investment in the Oakley Funds.

A video introduction to OCI is available at https://oakleycapitalinvestments.com/videos/

The contents of the OCI website are not incorporated into, and do not form part of, this announcement.

² The Oakley Funds

Oakley Capital Private Equity L.P. and its successor funds, Oakley Capital Private Equity II, Oakley Capital Private Equity III, Oakley Capital IV, Oakley Capital V and Oakley Capital Origin Fund are unlisted lower-mid to mid-market private equity funds that aim to provide investors with significant long-term capital appreciation. The investment strategy of the Funds is to focus on buy-out opportunities in industries with the potential for growth, consolidation and performance improvement.

³ Oakley Capital, the Investment Adviser

Founded in 2002, Oakley Capital Limited has demonstrated the repeated ability to source attractive growth assets at attractive prices. To do this it relies on its sector and regional expertise, its ability to tackle transaction complexity and its deal generating entrepreneur network.

Important information

Specialist Fund Segment securities are not admitted to the Official List of the Financial Conduct Authority. Therefore, the Company has not been required to satisfy the eligibility criteria for admission to listing on the Official List and is not required to comply with the Financial Conduct Authority's Listing Rules.

The Specialist Fund Segment is intended for institutional, professional, professionally advised and knowledgeable investors who understand, or who have been advised of, the potential risk from investing in companies admitted to the Specialist Fund Segment.

This announcement may include "forward-looking statements". These forward-looking statements are statements regarding the Company's objectives, intentions, beliefs or current expectations with respect to, amongst other things, the Company's financial position, business strategy, results of operations, liquidity, prospects and growth. Forward-looking statements are subject to risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future.  Accordingly the Company's actual future financial results, operational performance and achievements may differ materially from those expressed in, or implied by, the statements. Given these uncertainties, prospective investors are cautioned not to place any undue reliance on such forward-looking statements, which speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the Company's expectations with regard to them or any change in events, conditions or circumstances on which any such statements are based unless required to do so by the Financial Services and Markets Act 2000, the Listing Rules or Prospectus Regulation Rules of the Financial Conduct Authority or other applicable laws, regulations or rules.