Managers
Returns from venture funds globally reached a record level in Q2 2020, despite the Covid-19 crisis, and remained high as the year progressed, according to eFront’s latest Quarterly Private Equity Performance report.
Up to the end of Q3, 2020 has been an exceptional year for venture capital performance, with funds globally recording an increase in aggregated multiple of invested capital (TVPI), rising from 1.58x in Q3 2019 to 1.63x in Q3 2020.
So far, it is difficult to find any impact of the Covid-19 pandemic on the performance of active VC funds. Their aggregated multiple of invested capital reached an
BGF backed 61 new companies in 2020 whilst continuing to actively support its portfolio. Total investment totals GBP384 million, which includes GBP262 million into new portfolio companies and GBP122 million into existing portfolio companies.
Notwithstanding the global pandemic and associated recession in the UK causing unprecedented uncertainty for business, BGF broke its investment levels from the previous year and continued to show leadership and support for the UK’s growth economy, backing one new company a week.
Stephen Welton, Executive Chairman at BGF, says: “2020 is a year we won’t forget in a hurry. Despite the economic uncertainty of the last
The Riverside Company has invested in Great Lakes Fire & Safety Equipment (Great Lakes), a family-owned business in Alpena, Michigan. The investment is an add-on to Riverside’s CertaSite platform, a fire and life safety company that is committed to the highest levels of customer service, responsiveness, building safety and code compliance.
CertaSite goes beyond compliance, focusing on partnerships and professionalism while providing customers a simplified and dependable solution to managing fire protection and life safety systems in commercial buildings.
“We’re excited to continue the expansion of our rapidly growing company, CertaSite,” says Riverside Managing Partner Loren Schlachet. “With the addition
HIPPEAS Chickpea Snacks, has raised USD50 million from investment house The Craftory.
HIPPEAS, a healthy snacking brand, intends to use the funds to boost innovation, expand production, increase distribution and amplify its positive impact.
The Craftory is a USD375 million global investment house focused exclusively on ‘championing the world’s boldest, mission-driven consumer brands’. The Craftory is Cause Capital: investing in like-minded companies offering products that positively and boldly impact the categories they serve, society, and the planet. From compostable nappies to carbon credit platforms, The Craftory are a frontline stronghold for the next gen of disruptive consumer brands.
Jonathan Miller,
TCV has closed TCV XI, its largest fund to date at USD4 billion.
TCV turned 25 in 2020. Over our first quarter-century, the firm has invested more than USD14 billion, guided 65 companies through IPOs and executed 64 strategic sales.
“Over a quarter century, Netflix has gone from an outrageous idea to one of the world’s leading entertainment companies – and TCV has supported us every step of the way,” says Reed Hastings, Co-Founder and Co-CEO, Netflix Inc. “I’m so grateful for the enduring partnership, which includes Jay Hoag’s wisdom and guidance as our lead independent director.”
The pandemic accelerated
SparkPost, an email sending and optimisation platform delivering nearly 40 per cent of the world’s commercial email, has secured USD180 million from LLR Partners, NewSpring Capital and PNC Bank.
The investment will help fuel SparkPost’s next stage of growth and product innovation as organisations continue to look at email as the channel to communicate and educate customers, and transact at scale in the years to come.
SparkPost’s focus on empowering the most sophisticated email senders globally has generated steady revenue growth within the last three years and substantially expanded its customer base, which includes companies like Zillow, The New York
Shore Capital Partners (Shore), a private equity firm focused on investments in the healthcare and food and beverage industries, has invested in the Tandem Family of Companies (Tandem).
Tandem is a nationwide, full-service HR technology and solutions leader servicing small, mid-size, and enterprise companies. Tandem is currently comprised of four brands: Tandem HR, a professional employer organisation (PEO) offering HR outsourcing solutions, two leaders in highly customised brokered benefits for groups and individuals, Benefit Solutions Group and Alliance Workplace Solutions, and Workplace Solutions, a provider of comprehensive employee assistance programs (EAP).
Powered by experienced professionals, Tandem HR has been
Purlos an admissions platform designed to help educational institutions increase their revenue by reducing student drop-outs during the admissions process, has raised GBP300k from multiple investors in the education space from the UK, US and Germany.
Palatine Private Equity has completed the seventh investment from its Impact Fund, with the acquisition of a significant minority stake in tranScrip, a fast-growing global business playing a key role in the innovation and commercialisation of new medicines, including treatments for Covid-19.
Headquartered in the Thames Valley, tranScrip provides a wide range of specialist professional services to pharma companies, ranging from global players to dynamic, fast-growing biotechnology companies.
Operating internationally, tranScrip is playing a leading role in accelerating innovation in healthcare, enabling people to live longer and healthier lives.
Led by co-founders Managing Partner Dr Flic Gabbay, who has more
Luminate Capital Partners, a private equity firm investing in growth software companies, has sold AMTdirect, a provider of lease accounting, lease administration, and facilities management software, to MRI Software.
Jeff Ralyea, Chief Executive Officer of AMTdirect, says: “Over the last few years, the Luminate team has partnered with AMTdirect to deliver cloud-based solutions to leading corporations and retailers. We’ve been able to build the organization and products that now support lease administration, lease accounting, and facilities management for hundreds of enterprise customers.”
“AMTdirect has experienced considerable growth as a result of their ability to provide solutions to manage lease
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