Raven

Tribetech

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Case Study: October 2023
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In October 2023, Raven successfully negotiated a £3m post-IPO funding round, led by Beach Point Capital

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Raven Case Study

Tribe Technology plc

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Case Study

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Client: Tribe Technology plc

Year: 2023

Transaction Type: Funding Round

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Strategic Rationale

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Tribe Tech, a disruptive developer and manufacturer of autonomous mining equipment, was admitted to the AIM market of LSE in September 2023. The company was a longstanding client of Raven and, alongside the equity capital raised during the IPO process, sought to raise an element of debt finance in order to accelerate its growth while managing the dilution of the incumbent shareholders.  Our Transactions team had been working with Tribe Tech since 2020, advising them on an initial seed investment round which closed in 2021 and a subsequent series A round in December 2022

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What Our Clients Say

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View Our Story

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What we did

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Approach

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We worked with the executive team and existing investors to model the impact of introducing debt finance alongside new equity and demonstrate that, if properly structured, a blended funding round would result in a greater return on investment for the shareholders.  We identified a number of suitable private debt funds and ran a competitive process to find the right partner for the company

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Outcome

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Beach Point Capital Management was selected on foot of its flexible approach and appetite to fund complex opportunities. The debt process ran in parallel to the IPO, with drawdown of the funding occurring one month after the company’s shares were admitted to AIM

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“Richard and the Team at Raven have been a strong partner of Tribe Tech’s for many years. Most recently they provided significant support and advice, from initial introduction through to completion, as we successfully transacted a debt facility with BeachPoint Capital. Richard can always be counted on for sound advice and I value the relationship with Raven.”

Eric Hampel, CFO Tribetech

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What Our Clients Say

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“Raven’s strategic expertise was pivotal in achieving our investment goals with the New York State Pension Fund and 57 Stars. Their efforts led to a successful equity acquisition and debt investment in Kingsbridge Healthcare, offering valuable connections to the US market for future growth. Their commitment to success is truly commendable.”
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