Oxford Science Enterprises
Oxford Science Enterprises
The PISCES framework, and its enablement through the PSM, creates a bridge between private company flexibility and public‑market standards, delivering transparency, governance and optionality in a way that hasn’t existed before.
Retail‑adjacent capital pools play a critical role in the availability of capital for secondaries, and we are particularly excited to partner with firms such as Crowdcube, who are actively exploring how to evolve UK capital markets and expand accessibility for retail investors.
Crowdcube has already supported some of the UK’s most exciting growth companies, including Chip – your wealth app, Revolut, Nothing and Bitstack, to name just a few, and we look forward to seeing what they can achieve through the PSM.”
Julian Morse
Co-CEO, Cavendish
Cavendish Supports Crowdcube as Trading RAA Partner on the London Stock Exchange’s Private Securities Market, backing a TPEIC Transaction for Oxford Science Enterprises
Cavendish acted as Trading Registered Auction Agent to Crowdcube on its chosen trading RAA partnership with the London Stock Exchange’s Private Securities Market (PSM), supporting [a/the first] transaction on the platform through a Tradable Private Equity Investment Company (TPEIC) for Oxford Science Enterprises, the Oxford University-linked investment company and venture builder with a £1.3 billion net asset value and a portfolio of more than 50 flagship companies spanning deep tech, life sciences and health tech.
Crowdcube, Europe’s leading private market investment platform, managed the transaction through the TPEIC structure, giving eligible investors access to Oxford Science Enterprises.
PISCES, and the London Stock Exchange’s operation of the PSM, bring long-fought capital markets reform to life. The framework is a practical demonstration of what regulatory reform can unlock: FCA-approved legislation enabling private companies to offer structured, intermittent secondary liquidity while remaining private. It provides a new mechanism to relieve cap table pressure, support employee retention through existing incentive plans, and introduce transparency into liquidity processes.
Matt Cooper, Co-CEO of Crowdcube, commented:
“We look forward to working closely with LSEG through 2026 to create more pathways for investors to buy shares in the most productive UK assets.”
Frederick Bouverat, Founder and CEO of TPE, said:
“We are proud to collaborate with Crowdcube on this inaugural TPEIC. Their platform has played a meaningful role in expanding participation in private markets, and their involvement strengthens the distribution framework supporting structured liquidity within LSEG’s PSM ecosystem.”
Meet the deal team
Emily Watts
Head of Corporate Development
