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DWF advises Pastest on its investment in The Medic Life

18 June 2024

DWF, the global provider of integrated legal and business services, has advised Pastest on its minority equity investment in The Medic Life.

Pastest empowers doctors by providing accurate, innovative and technologically driven test prep solutions. Over the past five decades there have been close to 600,000 sign-ups to Pastest's online resource, with many thousands more accessing their resources through textbooks and attending revision courses. Pastest has supported users from 190 countries since its formation in 1972.

The Medic Life provides free events, classes, 1-2-1 tutoring and interview preparation courses for those wishing to study Medicine or Dentistry in the UK, Australia and New Zealand. It was founded by Dr Bakhtar Ahmad and has taught thousands of students over the past five years.

The transaction continues DWF's commitment to supporting innovation in the education sector and advising clients on impactful corporate venture capital (CVC) investments.

The DWF team was led by Dhruv Chhatralia BEM (corporate partner and head of Venture Capital (UK), London), James Bryce (corporate partner, Newcastle), Jagdeep Lall (corporate solicitor, Birmingham) and Faith Baker (corporate trainee, Manchester).

Frances Holmes, CFO of Pastest, said: "Pastest is dedicated to helping the medical profession in their exams and career progression. We believe that our collaboration with The Medic Life will be greater than the sum of its parts. Together we will be able to reach and help even more aspiring medics. DWF's skills, support and professionalism were invaluable which has allowed us to confidently enter this new venture with high expectations for success."

Frank Shephard, global head of corporate at DWF said: "We are pleased that the DWF Venture Capital Group has been able to advise Pastest in such a landmark transaction with fee earners from four of our UK offices involved in providing such a seamless service. Pastest is an important client in the firm's expanding corporate venture capital practice."

Dhruv Chhatralia BEM, partner and head of venture capital (UK) at DWF said: "We were delighted to support on a transaction involving two companies creating such a positive impact in the lives of thousands of students around the world.  We look forward to continuing to support Pastest to achieve the team's strategic goals as the business continues to expand."

This latest transaction continues DWF's leading advisory work on corporate venture capital (CVC) transactions across multiple sectors.  DWF's UK Venture Capital team is one of the largest venture capital teams of any law firm in the UK, with 84 lawyers across 9 offices in the UK. As a leading legal team in the international venture capital community, DWF acts for some of the most high-profile investors and companies at the centre of global financial and technological innovation.  

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