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The Avalanche Foundation has launched Avalanche Multiverse, an up to USD290 million incentive programme focused on accelerating the adoption and growth of its novel “subnet” functionality, which enables a rich ecosystem of scalable app-specific blockchains.
Initially, the programme is focused on supporting new ecosystems including, but not limited to, blockchain-enabled gaming, DeFi, NFTs and institutional use cases.
Avalanche Multiverse will bring a DeFi Kingdoms specific Subnet or ‘appchain’ with a combined maximum of USD15 millionof incentives for $AVAX and $CRYSTAL, a new Avalanche-native token created by DeFi Kingdoms to complement its existing $JEWEL token. Details surrounding the allocation of
Alter Domus, a provider of integrated solutions for the alternative investment industry, has seen assets under administration (AUA) soar to over USD1.6 trillion in the 12 month period ending January 2022, reinforcing its position as a top provider of fund administration services to the alternatives industry.
In the United States, a key growth market, Alter Domus’s assets have increased by USD360 billion (over 50 per cent increase) over the same period. The growth comes on the back of increased client demand, particularly amongst private equity and real estate managers, and as the fast-growing alternatives industry faces an increasingly complex regulatory
TGC Impact, a women-founded and led growth equity firm, has launched its inaugural fund, the TGC Impact Growth Fund, which is dedicated to providing access to capital for women and minority owned or operated businesses located in the New American South.
The region spans sixteen states from Maryland to Texas, has a rich history and today offers steadfast economic growth opportunities and prosperity. TGC Impact aims to maximise value for investors by combining access to underrepresented markets with operational value creation in growing businesses facing an inflection point. Beyond alpha generation, the impact focused approach endeavours to contribute to economic
The Teachers’ Retirement System of Texas (TRS), a USD204 billion pension fund, allocated almost USD500 million to three new private equity funds last month, according to a report by Alternatives Watch.
Investcorp, a global alternative investment firm, has acquired S&S Truck Parts (S&S), an independent distributor of private label and branded aftermarket truck parts.
Terms of the transaction have not been disclosed.
Founded in Chicago in 1952, S&S has a long history of providing high-quality, engineered aftermarket truck parts. Today, S&S serves over 1,600 customers including Original Equipment Manufacturers (OEMs), OE dealerships, independent warehouse distributors and service shops primarily across North America.
The partnership will focus on continuing S&S’s organic growth through new product introductions and geographic expansion across North America while seeking to complete strategic, add-on acquisitions.
Prolific private equity investor the Teachers Retirement System of Illinois, is selling a portfolio of private equity fund stakes, according to a report by BuyoutInsider.
The portfolio is valued at more than USD1 billion, two sources told Buyouts.
Illinois Teachers’ has partnered with Evercore on the sale of the portfolio, which sources are quoted as saying is worth in excess of USD1 billion. It includes funds managed by Veritas Capital, Advent International, Madison Dearborn Partners and Astorg.
Blue Horizon, a pure play impact investor in the future of food, has made a seed investment in a sustainable ingredients company producing protein from carbon dioxide.
Arkeon Biotechnologies is an ingredients company based in Vienna, Austria, leveraging the power of ancient microbes to create the most sustainable, nutritious, and ethical food system possible. Arkeon’s proprietary technology allows the company to convert CO2 directly into all 20 amino acids that are essential for the human diet, enabling an entirely new world of food products.
The company’s technological foundations have been built over a decade of research by co-founders Dr Simon
BGF has exited its investment in long-term portfolio company, Abacus Software Ltd.
The London-based SaaS subscription management platform has been acquired by Naviga Inc.
Abacus is a content and subscription management software provider with unique proprietary Customer Data Platform (CDP) and Digital eXperience Platform (DXP) offerings. The London-based business helps brands and communities in the publishing and membership organisation sectors improve revenue and engagement with personalised digital experiences and offers.
BGF backed Abacus in 2013, and has over the last nine years, provided close to GBP4 million of growth capital. During this time, BGF’s investment has enabled the
Early-stage venture capital firm Wavemaker has closed its latest fund with USD136 million in capital commitments, according to a report by Bloomberg.
The fund, Wavemaker’s fourth, will invest in startups operating in the technology sectarian South East Asia.
The firm exceeded its initial target of USD120 million, with existing backers
Several investors in previous Wavemaker funds including Temasek Holdings Pte, Pavilion Capital, International Finance Corp and Vulcan Capital, all participated in the fundraising with exceeded the original target of UDSD120 million.
Other participants include institutional investors, university endowment funds, funds of funds, family offices, corporates and high net worth individuals.
The Off Grid Electricity Fund (OGEF), a renewable energy access fund for Haiti supported by the World Bank, has provided a loan to Solengy Haiti (Solengy) to support its expansion plans outside of Port-au-Prince.
The OGEF was launched by the Haitian Government in 2019 with the aim of providing electricity to 200,000 households and SMEs in Haiti within 10 years.
Solengy was set up in Haiti in 2007, to supply solar solutions to residential, commercial, and industrial customers. In 2019, Solengy launched its lease-to-own program to increase accessibility to households and businesses that cannot afford the upfront capital cost
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