Venture capital fund The Crosslink Seed Fund has completed its 23rd investment of 2011. The USD20 million fund was launched in February 2011 with the objective of providing between USD100,000 and USD500,000 in seed capital to early-stage technology companies. The Crosslink Seed Fund is a carve-out of the Crosslink Ventures VI Fund and is targeting roughly 20 investments each year in industries that include advertising, e-commerce, SaaS, financial services, gaming, big data, mobile and several others. “We’re looking for entrepreneurs who are developing solutions to billion dollar problems,” says Eric Chin (pictured), Crosslink Capital partner who stewards the Seed Fund.

First Reserve Corporation is to acquire a diversified portfolio of US contracted natural gas fired power generation plants totalling 1,068 MW (the Power Portfolio) from Arclight Capital. The new entity will be named the FREIF North American Power I. As part of the agreement, the California Public Employees’ Retirement System will acquire the Neptune Regional Transmission System (Neptune), a 660-MW HVDC transmission line connecting NY Zone K with PJM.   First Reserve’s Energy Infrastructure Fund will take a controlling ownership position in the Power Portfolio, and CalPERS’ investment will result in direct ownership of 75% of the Class C shares

The Ingenious Live VCTs have agreed terms to exit from their respective investments in the Creamfields festival for a total consideration of GBP2.78 million. The Ingenious Live VCTs will also retain a share of further upside over the two years following the completion of the deal in the event that there is a sale of the Creamfields brand for an amount in excess of an agreed exit multiple. The deal will see The Cream Group’s festival vehicle, CI (Events) Limited, acquire the whole of the share capital of CFDT Limited, a company which was set up by the Ingenious Live

After launching in late-October, middle market private equity firm American Industrial Partners (AIP) has announced the first and final closing of American Industrial Partners Capital Fund V, LP (Fund V) at USD700 million, excluding the GP commitment of USD17.5 million. AIP exceeded its target of USD500 million and closed at its hard cap with broad support from both existing and new investors. AIP secured commitments from a globally diversified investor base with approximately 15% of total commitments coming from new capital outside of North America. Fund V is composed of leading endowments (30%), insurance companies (26%), fund of funds/gatekeepers (24%),

PowerCloud Systems, a leading software platform provider for enabling Networking as a Service (NaaS), has secured USD6 million in Series B financing. The round was led by Qualcomm via its venture investment arm, Qualcomm Ventures. PowerCloud Systems’ existing investors – Walden Venture Capital, Javelin Venture Partners and PARC – all participated in the round.   Quinn Li, Senior Director of Qualcomm Ventures, says: "Qualcomm Ventures is focused on funding transformative business opportunities," said Quinn Li, senior director of Qualcomm Ventures.  "PowerCloud’s technology platform enables powerfully simple networking-as-a-service solutions that can redefine the small-business networking market. PowerCloud’s innovative business model is compelling

LDC-backed MB Aerospace Holdings (MBAe), one of the UK’s leading aerospace companies, has acquired US-based Gentz Industries in a multi-million pound deal. This strategic acquisition will double the size of MBAe’s current operations creating an international brand with total revenues in excess of USD80 million per annum. The enlarged group will focus on the supply chain management, manufacture and repair of highly complex machined and fabricated components for global aerospace and defence original equipment manufacturers.   Gentz Industries, based in Detroit, Michigan, has an established reputation within the global aerospace industry, manufacturing complex, high-precision engine components for customers including Pratt

The Burgiss Group, a Hoboken, NJ-based solutions provider to the private capital markets, has announced a strategic partnership with Citi Private Equity Services (Citi PES), a provider of accounting, administration and tax services to private equity, venture capital and institutional investors. Private capital investors are facing an increasing burden to consolidate data, track returns and administer investments across multiple funds and administration agents. Responding to this need, Citi has partnered with the Burgiss Group to leverage their software and data services to deliver integrated investment reporting and analytics that are seamlessly integrated into Citi’s private capital administration service. These solutions,

Cross Atlantic Capital Partners led the Series A financing round for Sagence Group, a management consulting firm focused on providing data strategy, management and analytics services to companies in Financial Services, Insurance, Healthcare, Consumer Services and Consumer Products industries. Terms of the deal were have not been disclosed. In addition to providing working capital, the investment will enable the company to expand sales and marketing and hire additional professional services staff. “We believe that Sagence Group is unique in its ability to help its clients use their information assets in a strategic manner, due in large part to the management’s

Aureos Capital Limited (Aureos) has reached a final close of the Africa Health Fund, exceeding its target by raising USD105.4 million from a range of private sector and development finance institutional investors. The Africa Health Fund is managed by Aureos, a private equity fund management company specialising in small and medium sized businesses in emerging markets. The Africa Health Fund was established by Aureos in June 2009 with the International Finance Corporation, the African Development Bank, DEG, and the Bill & Melinda Gates Foundation as cornerstone investors. Subsequent investors include private sector investors such including a major Dutch bank, Elma

Mid Europa Partners has acquired Dr n med Teresa Fryda Laboratorium Medyczne through a jointly controlled entity, Polska Grupa Laboratoriów Medycznych. This transaction marks a further step towards the consolidation of the Polish laboratory market, which was initiated in January 2011 through the acquisition of a strategic stake in Diagnostyka (Diagnostyka), the Polish market leader. Fryda is one of the leading players in the Polish laboratory diagnostics market, offering services to hospitals, private clinics and individuals. In 2010, the Company performed circa 10 million tests in more than 30 laboratories across Poland. Paweł Padusiński, Director at Mid Europa Partners, says: