Technology is now developing so fast that it is creating disruption across all sectors of the economy and businesses which fail to keep up with the latest developments face being wiped out by smarter rivals. That will be the message at next week’s Entrepreneurial Spark event, a day of Tech Talks organised by the free business accelerator. Entrepreneurial Spark is aiming to help its fledgling firms embrace the latest technology and use it as an opportunity to displace larger rivals. It has lined up a range of speakers who will address budding entrepreneurs and “chiclets” at its “hatcheries” across the

Norwest Equity Partners (NEP) has formed Norwest Equity Partners X (NEP X), a USD1.6 billion limited partnership focused on growth investments, and Norwest Mezzanine Partners IV, (NMP IV), an USD800 million limited partnership from NEP's affiliated mezzanine investment firm, Norwest Mezzanine Partners (NMP), which will invest flexible junior capital in support of private equity-sponsored transactions. The new capital, which is significantly higher than the firm's previous capital raises in 2008 (NEP IX with USD1.2 billion and NMP III with USD750 million), positions the firm to achieve its strategic growth initiatives for the future. Since inception, the firm has raised over

Prosper Marketplace has secured a USD165 million Series D financing, led by Credit Suisse NEXT Investors, part of Credit Suisse Asset Management.  Additional participants included JP Morgan Asset Management, SunTrust Banks, a subsidiary of USAA, BBVA Ventures (BBVA’s representative office in San Francisco), Neuberger Berman Private Equity Funds, Passport Capital, Breyer Capital, and others. The latest funding will support the company’s continued growth, expansion, and development of a national brand as it builds new products and services for the marketplace’s borrowers and investors. The funding comes on the heels of a record quarter, with nearly USD600 million in loans originated

Private equity placement agent BerchWood Partners has formed a joint venture with JTP Capital, an investment advisory firm which provides capital advisory solutions for a small number of well selected real estate investment platforms.  Mitchell B. Sikora, JTP Capital’s founding member, and Henry J Delicata, a senior advisor, will be working with the BerchWood team on placement activities.   Sikora has more than 20 years of experience in the investment banking, investment and real estate professions and has been involved in raising private equity specifically for real estate funds since 1999. Just prior to founding JTP Capital in 2012, Sikora

Spire Capital Partners has held the final closing of Spire Capital Partners III, a private equity fund with approximately USD333 million in capital commitments.  Spire III's committed capital surpasses its previous fund, Spire Capital Partners II, which was a USD319 million 2007 vintage fund.  Spire III's limited partners consist of existing Spire II investors as well as new investors representing leading pension funds, endowments, fund of funds, family offices, insurance companies, financial institutions and executives from the areas of Spire's investment focus. Spire III's investment focus targets lead and control investments in the business services, information services, media, education/education technology

Edmond de Rothschild Investment Partners has teamed up with ACE Group the third-largest mortgage broker in France. The Small Caps fund managed by Edmond de Rothschild Investment Partners is investing in ACE alongside the founder/CEO and his senior executives. Founded in 1995 by Joel Boumendil in Levallois-Perret, ACE is a major player in the mortgage brokerage arena in France. ACE finds and negotiates the most suitable mortgage terms for property buyers: interest rates, insurance, warranties, terms for early repayment and more. With nearly 10,000 loans brokered annually, ACE represents more than 5% of the French mortgage market, with a volume

Private equity investor Actis, has partially exited from its investment in Edita Food Industries (Edita), an independent snack food business in North Africa.  Subject to final completion, Actis has sold a 15 per cent stake as part of a heavily oversubscribed offer through the Egyptian (EGX) and London stock (LSE) exchanges, representing half of its total stake.   The institutional offering was 13.4x oversubscribed and the retail offering was 4.4x oversubscribed.  Investors included a wide range of blue-chip institutional investors. The IPO price of EGP 18.5/share reflects a market capitalisation of EGP 6.7 billion (circa USD890 million) for the Company,

Victory Park Capital (VPC) has secured a USD51 million credit facility from GE Capital, Franchise Finance and Citizen’s Bank to refinance existing VPC debt and fund long-term growth initiatives of Giordano’s pizza restaurant chain based in Chicago.  The credit facility will contribute to corporate and franchise expansion in key markets outside of Chicago and help fund the development of business enhancements impacting Giordano’s growth strategy.   “We were impressed with GE Capital’s proven reputation as one of the largest lenders in the restaurant finance sector and are confident they will offer strategic value to the overall growth strategy for Giordano’s,”