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Nexa Equity, a private equity firm focused on scaling lower middle market software and fintech businesses, has acquired Choice Inc, a global payments platform.
Additionally, Choice has acquired Direct Payment Consultants, a payments provider that partners directly with merchants. Following the acquisition, Choice’s platform will process more than $3 billion in annual payments volume across 7,000+ customers in the United States and Canada. The founding teams of both Choice and Direct Payment Consultants each continue to hold a meaningful stake in the combined business.
Financial terms of the transactions have not been disclosed.
Fintech app zenda has raised $9.4 million in a seed funding round backed by Middle Eastern venture capital companies, STV, COTU, VentureSouq and US-based Global Founders Capital, according to a report by VCCircle.
The capital will be used for product development and market expansion in India. Currently, Zenda operates out of Benglauru, Kochi, Delhi and Dubai.
The Washington State Investment Board (WSIB) has allocated $3 billion to investments in private equity, real estate and tangible assets, according to a repot by AlternativesWatch.
The $194 billion fund that includes the state’s retirement systems as well as permanent funds, has selected eight private equity funds to manage over $2 billion – The Rise Fund III ($250 million); TPG Healthcare Partners II ($120 million); Advent International GPE X ($600 million); Bridgepoint Europe VII ($200 million); Green Equity Investor IX ($300 million); Jade Equity Investors II ($150 million); PAI Europe VIII ($200 million); Thoma Bravo Fund XV ($200 million); and
Unigestion, an independent, specialist asset manager, has led a significant minority investment in FreightWise, a US logistics technology business, alongside the founders, Elyan Partners and Riverside Acceleration Capital. Stillwater Capital acted as sell-side adviser to the transaction.
Founded in 2015, FreightWise is a logistics technology company that delivers faster shipping times and lower shipping costs to customers around the US and Canada.
FreightWise has more than 170 customers spanning manufacturing, technology, distribution and retail industries and a growing team of 130 employees. It aims to more than triple its customer base and staff over the next five years.
Monspire, a London-based fintech helping small businesses predict cashflow needs in the aftermath of the Covid-19 pandemic, has raised a £600,000 funding round led by Fuel Ventures.
The cash boost will enable Monspire, founded by serial tech entrepreneurs Simon Draper and Ben Gillen, launch to market and rapidly onboard new businesses. The entrepreneurs are aiming to make Monspire the global cashflow management platform for small businesses, empowering small business owners to grow their businesses with confidence.
The newly-launched HEC Paris – DowJones Small-Cap Buyout Performance Ranking analyses the firms which generated the best performance for investors participating in the small-cap market segment. The companies which topped this first edition of the ranking are CAI Capital Partners, Falfurrias Capital Partners and Renovus Capital Partners.
Secondary assets being brought to market this year will require industrial strength and value creation potential, as infrastructure, VC and mid-market GPs plan to bring opportunities to market…
In stark contrast to private equity’s buyout market over the past decade, GP-led secondaries are often characterised by too many deals chasing too little capital.
“Sometimes we feel capital-constrained because there’s so much opportunity out there,” says Valérie Handal, managing director of the global secondaries team at HarbourVest.
With the eight largest secondary funds controlling around 50% of the dry powder in the market, according to Hamilton Lane, GPs are having to
Funds managed by private equity investor CapVest Partners (CapVest), have closed the acquisition of Second Nature Brands, a Michigan-based creator of premium, nutritional and better for you snacks and treats, including Kar’s Nuts, Second Nature Snacks, and Sanders Chocolates, from a private equity fund affiliated with Palladium Equity Partners, LLC.
CapVest has been investing in food businesses around the world for more over 20 years and has a deep understanding of the consumer food sector. Recent successes include the transformation of Valeo Foods from an Irish-only business with less than €200 million in sales, to a leading global ambient food
Arrowpoint Advisory’s Consumer team has advised the shareholders of Plumbworld Limited, one of the UK’s leading e-commerce specialists for bathroom, kitchen, plumbing and heating products on its sale to HIG Capital’s Highbourne Group.
Martin Rauchenwald, a Partner at Financial Services Capital (FSC), a private equity investor dedicated to the transformation of the European financial services sector, has been appointed to the Board of Barion, a Hungarian payment provider backed by FSC.
Barion, in which FSC invested in 2020, is one of Hungary’s leading payment providers, having built a proprietary payment services platform that delivers actionable data intelligence. The company enables merchants to accept card payments online, and allows users to pay in over 11,000 online shops using their mobile app as a prepaid wallet and for wire transfers.
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