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Shoosmiths advised Gresham House Ventures on a £6 million secondary investment in Veremark, as lead investor in a £6.5 million share sale on the London Stock Exchange’s Private Securities Market, operating under the UK’s PISCES (Private Intermittent Securities and Capital Exchange System) framework.
Published: 19 October 2026
The deal, which traded on 7 October 2026, is the third employee share sale on the Private Securities Market, representing an important milestone in the development of private capital markets.
Alastair Peet, Corporate Partner at Shoosmiths, said: "PISCES has the potential to transform liquidity in private markets, so it was exciting to be involved in one of the framework's earliest transactions. As the market takes shape, deals like this present novel legal and commercial challenges, and helping Gresham House to find solutions to these issues made this a particularly rewarding deal to work on."
Shoosmiths advised Gresham House Ventures on the investment structure, governance arrangements and implementation of a bespoke framework designed to meet the requirements of the PISCES platform while preserving the rights attached to its existing shareholding. This included navigating the shareholder, regulatory and operational considerations arising from one of the first transactions completed under the new framework.
Ed Wass, Portfolio Director at Gresham House Ventures, said: "As one of the earliest transactions undertaken through the PISCES framework, this investment presented a unique set of opportunities and challenges. Shoosmiths combined deep technical expertise with commercial pragmatism, helping us navigate an evolving market environment and successfully deliver a transaction that broke new ground."
The Shoosmiths Corporate team advising on the transaction was led by Partners Alastair Peet and Geoff Dragon, supported by Principal Associate Gregg Harris and Associates Jess Lockett and Louise O'Connor.
This transaction highlights Shoosmiths' experience advising investors and growth businesses on innovative transaction structures and emerging private market initiatives.