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The past decade has been marked by rapid growth in private markets and this looks set to expand even more as most countries are now lifting their Covid-19 restrictions, which the sector rebounded from very quickly. In light of this, Ireland’s recently revamped Investment Limited Partnership (“ILP”) structure is now a very attractive option for managers structuring closed ended funds and has added to the vast array of fund vehicles available in Ireland. The structure was modernised to contain the best-in-class features of other limited partnership structures globally and to remove drawbacks under the previous ILP regime.
The Irish Investment Limited Partnership (ILP) structure has now been modernised with flexibility to rival its overseas counterparts. This enhanced vehicle fills the significant gap in the overall Irish Funds product suite and the revisions provide a good balance between regulation and versatility.
The private asset funds sector of the Irish funds industry is set for accelerated growth as the jurisdiction looks forward to capitalising on the solid groundwork put in place with the introduction of the ILP legislation in 2021.
“I expect it to be more of a snowball effect rather than a tsunami of new funds being launched,” explains James McEvoy, Country Executive Ireland, Alter Domus, “But it is definitely a story of growth across the industry and as a firm we are very focused on this.”
In the past year alone, Alter Domus has hired around 100 people in its
WestBridge has completed its first deal of 2022, supporting the MBO of Thames Valley based, Smart Capital Technology (SCT).
Funds managed by WestBridge have invested GBP17 million.
Established in 2002 and headquartered near Reading, SCT is an innovative IT services organisation, which is 100 per cent dedicated to the channel. SCT’s flagship Inventory-as-a-Service (IaaS) solution offers technology infrastructure support on a global basis through a comprehensive IT engineering capability and operational network.
The MBO was led by CEO, Andy Morgan with support from the wider management team. The deal facilitates a partial exit for the founding directors, who
Trifecta Collective has acquired the North American Trailer Dealers Association (NATDA), the only professional business association in North America that serves light and medium duty trailer dealers.
NATDA is comprised of the largest national show in the trailer industry, a membership organisation, and a leading trade publication.
Trifecta Collective, is a new partnership between GreyLion, a leading private equity firm focused on investing in high-growth businesses in the lower middle market, and trade show industry professionals, Rick McConnell and Jennifer Hoff. McConnell has extensive experience building and leading industry events spanning numerous sectors and has previously held senior roles at
TPA Capital has completed its investment in Barwick Bathroom Distribution, a UK B2B distributor of premium bathroom products.
Founded almost 40 years ago, TPA has acquired the business from the original founders, John and Michael Barwick.
The transaction comes on the back of significant growth in recent years, underpinned by a buoyant market for home improvements. TPA’s investment will support the business as it continues to grow through expansion into new geographies as well as increased penetration in existing markets, leveraging Barwick’s strong brand partnerships and product portfolio.
Rockets Capital has held the first closingachieved it of its maiden fund with over USD200 million in capital commitments.
Led by the strategic anchor investor XPeng Inc, a smart electric vehicle (Smart EV) company in China, the fund raising also attracted a number of institutional investors, such as IDG Capital, eGarden, Sequoia China, 5Y Capital, and GGV Capital.
Rockets Capital was established in early 2022 and will focus on venture and growth stage investments in Smart EV industry value chain, clean energy, and frontier technology areas. While operating independently with a market-oriented approach, Rockets Capital will leverage XPeng Inc’s industry
OXIO, the first telecom-as-a-service platform for brands and enterprises with a white-label, fully-customisable solution to help turn brands into telecom carriers, has raised USD40 million in Series B funding.
The round was led by ParaFi Capital, with participation from Digital Currency Group, Ascend, and Leyden; as well as existing investors Multicoin Capital, Monashees, Atlantico Capital, FinTech Collective; seed investors Allan Green of Candel & Partners; and angel investors from LightShed Partners and Sea Group.
The Series B follows OXIO’s USD12 million Series A in November 2020, which together with earlier seed rounds brings total proceeds raised to USD65 million to
Nautilus Labs, an AI technology firm focused on ocean commerce with hubs in New York, Singapore, Paris, and London, has secured USD34 million in Series B funding round.
Microsoft played a leading role, with M12, the company’s venture fund, and the Microsoft Climate Innovation Fund co-investing for the first time.
This round brings Nautilus’s total raised capital to over USD48 million. The company will use the investment to develop and deploy new product capabilities that support client goals to drive decarbonisation while maximising profits, attract fresh tech talent, and open and expand new offices in key shipping hubs worldwide.
The
MedTex Ventures has closed its first fund, Biotex Medical Device Fund I, which held its final close on 1 March with USD46.5 million in commitments.
The fund will invest in early-stage medical devices, with a focus on Seed and Series A rounds.
Since its initial close in March 2021, the Fund has made investments in ten device companies across various surgical, diagnostic and therapeutic applications. The Fund also offers co-investment opportunities to its limited partners, providing another source of capital for its portfolio companies, and raised USD2.5 million in its first co-invest vehicle last summer.
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