Last night we signed and today we are announcing a new investment: EverEdgeIP Global.
CEO Paul Adams and Lance Wiggs have been discussing EverEdgeIP with increasing intensity for a while now, starting with informal meetings exchanging information about our approaches, progressing a while later to formal Better by Capital sessions to assist EverEdgeIP to get ready for this round (the last session was more than 3 months ago), and more recently about this investment. We are very impressed with their approach, the investment case and future possibilities about working together.
EverEdge IP is focused on becoming the world’s first intellectual property oriented investment bank, and have emerging consulting and advisory, transaction and investment arms.
For now most of their business derives from their consulting arm, where they have helped over 800 companies so far. Their intellectual property advice goes well beyond patents, and includes brand, content, data, confidential information and new technology. EverEdgeIP operate separately from law and patent attorney firms and focus on providing independent advice around how to commercialise intellectual property and how this ties into broader business strategy rather than the mechanics of filing patents. The consulting work also includes outsourced management of intellectual property portfolios and research for investors, and the company is rapidly expanding to serve demand. Their sweet spot is mid market companies, but they serve companies of all sizes across the globe. EverEdgeIP say they they are the the best, and they are already the biggest IP strategy firm in the world.
The second arm of their business is transaction services, where EverEdgeIP acts as a broker for entities to buy and sell intellectual property. These deals are potentially very large for the clients, and EverEdgeIP is generally compensated through commission. EverEdgeIP are intent to lead the global market in rapidly expanding space, and while we expect the deal flow to be relatively sporadic and lumpy for now, this is where we see the future value.
The third arm of EverEdge IP’s business is in managing investments, however for now the firm is primarily focused on expanding the first two lines of business.
EverEdgeIP has offices in the USA and UK, with a new country office opening shortly. These offices all use a partnership model, which allows EverEdgeIP to rapidly expand using very senior local principals. One of those, Dr. Chris Donegan, who leads the UK business, will be joining the board of directors.
Punakaiki Fund is the largest investor in this round, and we will own a little under 5% of the company. The investment is contingent on and will take place after the successful conclusion to the Snowball Effect Offer. Lance Wiggs will also be joining the board of directors.
We are joined by a number of other investors, including Bruce Sheppard, Sir David Levene’s Lewis Holdings (each are following on from a prior round and have a director), John Barnett, Simon Poidevin from Australia’s Bell Potter and Sir Ralph Norris.
We are looking forward to tracking the growth of EverEdgeIP, and to the potential of working together in the future.