PE Tech Report

Launches & Fundraising

Dollars

DN Capital raises USD200m for third European venture and growth fund

DN Capital has raised USD200 million (EUR144 million) for its third venture capital fund, GVC III, a three time increase on its previous fund. The fund is dedicated to investing in early and growth stage companies in northern Europe, particularly the UK, Germany, and the Nordics with an allocation for US

Glennmont closes fund II at EUR500m

Glennmont Partners has closed its second fund, Clean Energy Fund II, having raised EUR500 million, the maximum amount permitted, exceeding its target of EUR450 million.  The life of the fund is ten years and the fundraising has been supported both by existing and new investors, including the European Investment Bank

Carlyle Group closes USD816m CLO fund

Alternative asset manager The Carlyle Group has closed a collateralised loan obligation (CLO) fund in the US totalling approximately USD816 million. The CLO, arranged by Citigroup, is the firm’s third of 2014 in the US.   Carlyle GMS CLO 2014-3 will invest predominantly in senior secured bank loans.   Including

Latest ARCH Venture Partners fund closes above USD400m

ARCH Venture Partners’s eighth venture fund has closed with more than USD400 million in subscriptions. ARCH Venture Fund VIII exceeded its USD250 million subscription target by more than USD150 million.   "The enthusiasm behind Fund VIII shows the strength and potential of our approach to finding and funding new platform

Highland Capital Management launches non-traded product line

Highland Capital Management has launched a non-traded product line with a publicly-registered business development company (BDC) NexPoint Capital. The BDC will be the industry’s first healthcare-focused fund of its kind with a target raise of USD1.5bn in capital for investing primarily in medium-sized businesses.   NexPoint Capital represents Highland’s initial

Fortress successfully closes transportation and infrastructure fund

Fortress Investment Group has held the successful close of Fortress Worldwide Transportation and Infrastructure Investors (FTAI) at its cap of USD995 million in total commitments.  FTAI was originally raised as a USD395 million fund; this was followed by a subsequent “top up” private capital raise of USD600 million of additional

Computer screen

New tax-efficient tech fund to invest in UK gaming, e-commerce and digital start-ups

Technology investment specialist Mercia Fund Management is launching a fund offering tax-efficient investment in the UK’s fast-growing digital economy. The Mercia Digital Fund will use the hybrid structure of Mercia’s previous three tax efficient funds, combining the Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS), to invest in

Euros

Ogier Legal advises on launch of EUR800 million Mid Europa Fund IV

Ogier Legal has acted as Guernsey legal adviser to Mid Europa in the establishment of Mid Europa Fund IV, which closed at EUR800 million.  Mid Europa Fund IV is a Guernsey authorised closed-ended investment scheme established primarily to make controlling investments in market leading companies in Central and Eastern Europe

ACON closes fourth Latin American middle market PE fund

ACON Investments has held the final closing of the firm’s most recent Latin America middle market private equity fund, ACON Latin America Opportunities Fund IV, with total commitments of USD515 million. In May 2014, the firm also closed on the issuance of MXD2 billion (approximately USD150 million) of Mexican publicly traded

ADB, ORIX and Robeco launch Asia Climate Partners

The Asian Development Bank (ADB), ORIX Corporation and Robeco Institutional Asset Management have teamed up to establish Asia Climate Partners (ACP). The new joint venture will undertake commercially-oriented private equity investments across a variety of environmentally supportive, low-carbon transactions throughout Asia.   ACP, which will be capitalised initially by USD400

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