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24 January 2024 | Comment | Article by Gerallt Jones

Hugh James advises Innovation Investment Capital Partnership on multimillion-pound investment


Hugh James has advised Innovation Investment Capital Partnership (IIC), the Cardiff Capital Region (CCR) backed fund, on a multimillion-pound investment in Mazuma, the Bridgend-based online accountancy firm.

Launched in 2022, the fund invests long-term capital in sustainable growth opportunities across the ten unitary authorities that comprise the CCR.

Mazuma is one of the leading providers of accountancy services for micro businesses in the UK, with a long-standing track record of innovation. With the addition of this new investment from IIC, Mazuma will accelerate the development of its new accountancy technology solutions, expand the marketing and sales teams in Bridgend, and invest in the firm’s infrastructure and operations to support growth.

The Hugh James team advising IIC was led by Partner and Head of Corporate/Commercial Gerallt Jones, supported by Associate Matt Detheridge, and Banking Partner Rowena Downie.

Gerallt said:

“We’re delighted to have advised IIC on this exciting investment. IIC is committed to championing innovative, vibrant businesses looking to expand and develop across the region, and we’re only too pleased to be play our part in helping them achieve this.”

Lynda Stoelker, Capricorn Fund Managers’ COO and Chair of the IIC Investment Committee, said:

“I’d like to thank Gerallt and his team for their first-class support and advice throughout this entire process. We’re excited to be part of Mazuma’s growth story, and look forward to seeing its impressive vision for further expansion and technological development come to life.”

Author bio

Gerallt is a partner and head of the corporate and commercial team. Since joining Hugh James in 2005, Gerallt has led the team to be a leading player within the corporate and commercial market, advising clients including the Welsh Government, Princes Gate Water and the Development Bank of Wales.

Gerallt also has particular expertise in the sport and food & drink sectors, leading Hugh James’s relationships with clients in these sectors including the Welsh Rugby Union and Braces Bakery.

Disclaimer: The information on the Hugh James website is for general information only and reflects the position at the date of publication. It does not constitute legal advice and should not be treated as such. If you would like to ensure the commentary reflects current legislation, case law or best practice, please contact the blog author.

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