AgDevCo, a specialist investor in early-stage African agribusinesses, has secured a USD90 million package of new funding from the CDC Group, Norfund and DFC which will allow AgDevCo to continue to grow its investment activities in agriculture across Sub-Saharan Africa. This is in addition to the announcement of supplementary funding of up to USD5.4 million from CDC, Norfund and the UK’s Foreign, Commonwealth and Development Office (FCDO) for AgDevCo’s integrated technical assistance facility.      This new funding builds on the original endowment funding provided by the UK government which helped establish AgDevCo over the past decade. This endowment has

Giift, a provider of loyalty management solutions around the globe, backed by Apis Growth Fund II, a private equity fund managed by Apis Partners, has acquired a significant strategic interest in Xoxoday, a fintech disruptor in the rewards, incentives and payout space. The partnership includes both primary and secondary capital components, and the collaboration will enable both Giift and Xoxoday to enlarge their service offerings and collectively accelerate growth globally. Xoxoday provides technology infrastructure to enable businesses to automate rewards, incentives and payouts across the value chain. Xoxoday will use the USD30 million investment to fuel the next stage of

Atech.cloud (Atech), a UK Cloud Service Provider (CSP), has secured an initial GBP10 million investment from Pelican Capital. The funds will be used to enhance Atech’s rapid organic growth and to finance its pipeline of acquisition opportunities, with follow-on funding available if required. A Microsoft Advanced Specialist, and multi-gold, direct partner, Atech is focused on harnessing the potential of Microsoft technologies to transform its client’s operations, and business efficiency.  Atech primarily supports mid-market and enterprise corporations, with complex cloud requirements. Its key services include Digital transformation, Managed services, Managed security and Infrastructure support, with a specific focus on deploying and

Liberty Strategic Capital, a private equity firm founded and led by former Secretary of the Treasury Steven T Mnuchin, is to invest a total of USD125 million in cyber defence platform BlueVoyant’s USD250 million Series D financing round. New investors as well as existing investors, including ISTARI (a Temasek company), Eden Global Partners (a New York-based growth equity investment firm), and 8VC, among others, also participated in the round, while Eden’s registered broker-dealer affiliate, Eden Global Capital Partners, served as a strategic advisor and together with Morgan Stanley as co-placement agent for the round.  This is Liberty Strategic Capital’s fourth

Weavr, a London-headquartered technology provider that enables businesses with Plug-and-Play financial solutions, has closed a USD40 million Series A funding round led by Tiger Global. The company is disrupting the current banking-as-a-service (BaaS) model – which can serve only a limited audience because of its heavy costs, compliance and technical burdens as well as long implementation times – by making embedded financial services available to any business with a digital presence. The financing will support Weavr’s international expansion plans, beginning with an official US market launch.

IK Partners (IK) is to invest in Sofia Développement Group (Sofia) via the IK Small Cap III Fund, joining existing shareholders Extens, Capital Croissance and Bpifrance to finance the acceleration of organic growth and acquisitions to come. Financial terms of the transaction have not been disclosed.   Sofia is a leading e-health player in France and was created in 2019 following the merger of two software publishers, IDEA (Topaze and Télévitale) and SNAL (Albus).  IK’s investment will help accelerate Sofia’s growth and support its strategy to expand the offering beyond web and mobile tele-transmission towards a fully integrated digital practice

Maven Capital Partners (Maven) has realised its investment in GP Service (GPS), an authorised provider of online services for general medical consultations and prescriptions, through a sale to LSE listed Kanabo Group (Kanabo) which generated a 1.95x return on cost for VCT shareholders. GPS offers a secure end-to-end system that allows patients to consult with qualified doctors via online assessment questionnaires and through secure video chat.  The Maven VCTs originally invested GBP2.5 million in GPS in 2016 and supported the company’s growth through two further funding rounds. The acquisition by Kanabo will support the continued growth of GPS’ digital and

Financial Crime Intelligence startup Schwarzthal Tech has raised GBP150,000 in a pre-seed funding round from UK seed stage investor SFC Capital. Schwarzthal Tech uses AI to fight financial crime by gathering publicly available information and building an individual’s network to support investigations into potential criminals. Schwarzthal Tech will use the funds to further develop the platform, build a marketing team as well as filing for an intellectual property patent on their unique “Know your Network” methodology.

Funnel Leasing, a renter-centric leasing platform, has completed a USD36.5 million Series B funding round led by proptech VC investor RET Ventures. Camden Property Trust and Morgan Properties, two of the country’s largest owners of multifamily properties, as well as Wilshire Lane Capital, Trinity Ventures and Camber Creek, also participated in the round. Additional strategic investment was provided by RET Ventures Limited Partners MAA, Essex and Cortland.  The financing will expand Funnel’s reach in the enterprise and mid-markets of leading property owners and management companies who recognise the value of centralised leasing and renter-centric models for success.

Middle market private equity firm Parthenon Capital, in partnership with existing management and advisors, has acquired Choreo, a business formerly known as RSM US Wealth Management LLC. Choreo has been acquired have purchased the company from RSM US LLP (RSM), a US provider of audit, tax and consulting services focused on the middle market.  As previously announced, Larry Miles, a 20-year wealth management veteran, will become Chief Executive Officer of Choreo. Dave Scudder, the predecessor company’s national leader, will transition to Choreo as Executive Vice President, Strategic Partnerships.