Deals
Ropes & Gray has advised K2 Insurance Services, a portfolio company of US private equity firm Lee Equity Partners, on its acquisition of Pioneer Underwriters, a London-headquartered underwriting services organisation.
The deal will see Pioneer’s ongoing underwriting portfolio, together with underwriting and support staff, transfer to K2, a specialist insurance services holding company, headquartered in San Diego. The transaction is expected to close by the end of Q2, subject to the necessary regulatory approvals. Terms of the transaction have not been disclosed.
The transferred business will comprise underwriting units specialising in property catastrophe reinsurance, financial institutions, international property facultative and
Growth equity investor Verdane has partnered with Conscriptor, Sweden’s largest developer of medical journal documentation services and dictation software, and Max Manus, a speech recognition and dictation software company.
Bodhala, a data-intelligence and legal technology platform, has secured USD10 million in an investment round led by Edison Partners, a Princeton, NJ-based growth capital firm.
The company will use the funds for product expansion and sales and market acceleration as it transforms and modernises the purchasing of outside counsel services.
Companies spend nearly USD500 billion annually on outside counsel, with hourly billing rates tracking at almost four times the rate of inflation. Bodhala applies data science, machine learning and AI-driven insights to help companies analyse, interpret and optimise legal spend. The company experienced 300-pls per cent growth in both
Peak, a software maker helping businesses use AI, has raised USD12 million in an extended Series A funding round led by existing investors MMC Ventures and Praetura Ventures.
This fresh investment brings Peak’s total amount of funding to USD18 million. Peak will use the incoming capital to support its rapid growth and commercial expansion, and to ramp up investment in research and development.
Peak is marketing its AI Systems, a new category of enterprise software with the goal of enabling mass adoption of AI solutions across industries. The company says that the AI era is “the fourth industrial revolution”, and
Keensight Capital, a private equity manager focused on pan-European growth buyouts, has completed the sale of smartTrade, a multi-asset electronic solutions firm.
Earlier this year, Keensight Capital had announced that it had entered into an agreement to exit smartTrade Technologies.
Founded in 1999 and headquartered in France, smartTrade Technologies has developed an automated trading platform which enables fast access to a wide range of liquidity for foreign exchange, fixed income, equities, cryptocurrencies, and derivatives.
The final completion of this deal, which gathered parties spreading all over Europe, took place in an innovative, highly secured manner, thanks to a fully
With USD46 billion of dry powder available to deploy through year end, secondaries market activity is expected to increase in H2 2020, according to Cebile Capital’s Q1 2020 secondaries buyer report.
New figures also revealed that the private equity market expects a material decrease in sellers in the secondaries market, which will impact higher pricing in H2 2020.
“The record amount of dry powder available for secondary buyers to deploy coupled with innovative transaction structures will allow for robust secondary market activity in the second half of the year,” said Sunaina Sinha, managing partner at private markets advisor Cebile Capital.
EQT Ventures has led a EUR4 million funding round in Helsinki-based mobile games studio Reworks, as well as the official release of its first game Redecor, a home decor game.
Play Ventures and Anton Gauffin, founder and CEO at Huuuge Games also joined the round. The fresh capital will be used to expand and develop Redecor, according to the company.
EQT Ventures partner Lars Jornow joins the board at Reworks, bringing with him experience from King, where he helped create its first Facebook and mobile games including Candy Crush Saga. He also led EQT Ventures’ exit of Small Giant Games
One Utility Bill, a tech firm focused on simplifying utility billing for tenants, landlords and letting agents, has raised GBP1.7 million to further develop its platform and expand its business. The funding round was led by DSW Angels, the venture capital business of the Dow Schofield Watts group, and included existing investors the North East Innovation Fund, supported by the European Regional Development Fund and managed by Northstar Ventures.
One Utility Bill, which is based in Newcastle, consolidates household bills into one simple monthly payment, which can be split equally between housemates. The company manages energy, water, broadband, media and TV
Ingenious today announces that its Infrastructure Ventures EIS Service has led a USD4 million A-series investment round in Shoreline. The Norway-based start-up has built an intelligent field operations and project development platform to help develop profitable wind projects by constructing and operating them efficiently using schedule optimisation and simulation.The investment will allow Shoreline to capitalise on the rapid growth in the renewables market, which it believes has resulted in larger and more expensive projects. Shoreline will also be able to enhance its service to existing wind farms and assets that require service providers, project developers, OEMs, and operators to look
LGB Corporate Finance has advised multinational advertising and media company Whalar on the establishment of a secured working capital facility from Praetura Commercial Finance, an alternative debt and equity funding business.Based in London, with offices in Berlin, Los Angeles, Malaga, New York, and Singapore, Whalar is a modern media agency which employs around 100 people across its global structure. The company specialises in technology-driven influencer marketing and branded content, and is the only approved partner to Facebook, Instagram, and Snapchat within this space.
Whalar’s tech platform is home to over 5,000 influencers from across the world with a combined follower
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