Middle East Venture Partners (MEVP) has held the first close of Middle East Venture Fund II (MEVF II) at USD15 million. The fund will invest in the region's tech and mobile businesses. MEVFII is MEVP's fourth fund and succeeds its USD70 million Impact Fund that was launched last year for investments in Lebanon's ICT sector.  The fund will aim to close in second quarter 2015 with US$30 million to invest. Middle East Venture Fund II is already operational and has approved four investments: • YouGotAGift.com: The first of its kind online marketplace specialising in digital gift cards in the Middle

Brabant Development Agency Capital (BOM Capital) has chosen Investran, SunGard’s integrated private equity solution, to help enhance data and investment transparency across front- and back-office stakeholders and processes. BOM Capital invests risk capital in start-up, growing and innovative companies in Brabant through long-term equity capital and fund-to-fund investments. BOM Capital will use SunGard’s Investran accounting, deal flow, relationship management, data exchange, and analytics and reporting capabilities to help increase process and operational efficiencies across its finance, compliance, administration, and investment management teams. “We were seeking a single system to provide data transparency of investments and processes across the portfolio lifecycle

Lateral Investment Management has formed a strategic partnership with The Leo Group, a New Jersey-based wealth management firm serving family offices, institutions and endowments. As part of the partnership, Lateral will advise The Leo Group on a private debt portfolio of USD55 million. Lateral’s principals, Kenneth Masters and Richard de Silva, will act as co-portfolio managers of the portfolio. “Lateral delivers a high-yield private debt product which is differentiated in today’s low-rate environment,” says Matthew Allain, CEO of Leo Group, which has reported assets under management of USD1.3 billion. “Lateral’s principals have a great track record of creating value for

Ogier Jersey has acted as Jersey legal adviser for Intermediate Capital Group on the establishment of its tenth Jersey fund, ICG Europe Fund VI, which has held its first close having raised EUR2.5 billion to date.  This includes a contribution from ICG’s balance sheet of EUR500 million, along with EUR2 billion of third party subscriptions. Further closes are anticipated in the coming months, towards the EUR3 billion hard cap. The predecessor fund, ICG European Fund V, was closed in December 2012 at its hard cap of EUR2.5 billion, also including a subscription of EUR500 million from ICG’s balance sheet. Niamh

Private equity fund of funds Asia Alternatives has held the final close of over USD1.8 billion in new commitments for Asia Alternatives Capital Partners IV (AACP IV) and its related fund vehicles (Fund IV).  "We are extremely grateful that a significant number of our original limited partners continue to support us and we are pleased to have added a number of highly respected and well-recognised new investors in Fund IV," says Melissa Ma, Co-Founder and Managing Director of Asia Alternatives.  The largest of the Funds is Asia Alternatives Capital Partners IV, LP which, along with its sleeve fund focused on

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