BaSE Impact Report 2023 - Flipbook - Page 20
Black Seed
HL BaSE provided a combination of
pro bono and low bono legal advice
to Black Seed, a venture capital seed
fund dedicated to Black founders
in the UK. Black Seed announced
in June that it had raised £5million
in its inaugural fund with M&G
Investments leading the round.
Hogan Lovells advised both Black
Seed LP on its £5 million first
closing, and its general partner
on a minority seed investment
in the general partner by M&G
Investments, alongside Karl
Lokko and Cyril Lutterodt, the
founders of Black Seed.
“We deeply appreciate Hogan Lovells for
their partnership in our mission to drive
meaningful change and democratise access
to VC funding for black founders in the UK.
The barriers to entry for emerging fund
managers who look like us are extremely
high. It takes the collective support of the
wider ecosystem, and organisations like
Hogan Lovells who are willing to roll up
their sleeves, to allow us to be audacious
enough to challenge the status quo.”
Karl Lokko,
Founder and Managing Partner,
Black Seed
“It has been a pleasure to help the Black
Seed team launch their first fund. Karl
and Cyril are inspiring founders and it
is wonderful to see their energy, drive
and commitment being rewarded with a
successful first closing. I look forward to
seeing Black Seed raise further capital and
deploying it in a truly meaningful way.”
Erik Jamieson,
Partner, Hogan Lovells
