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Global proptech venture capital firm Pi Labs has secured USD90 million for its oversubscribed latest fund, which will back startups revolutionising the real estate world through technology.
This is Pi Labs’ third proptech fund and its largest to date.
The fund’s primary focus will be to invest in early stage proptech startups – from pre-seed to series A stage – around the world, with average investments ranging from USD500,000-USD1.5 million per deal, plus follow-on capital. With a USD90 million investment platform and looking to back the next global proptech unicorn, Pi Labs will also deploy capital during later stage rounds
Novata, a public benefit corporation and technology platform that provides private markets stakeholders with intuitive and effective environmental, social and governance (ESG) data management solutions, has formed the Novata ESG Advisory Council.
The Council comprises leading experts in ESG with broad-based experience in academia, research, public and private company stewardship, investment management, and impact-driven initiatives. The global Council will operate as an independent sounding board for Novata and will advise on the most effective way to help private companies and their owners navigate, operationalise, and extract value from ESG data.
Founding members of the Council include:
Margot Brandenburg, Senior Program
Neuraxpharm Group (Neuraxpharm), a European specialty pharmaceutical company focused on the central nervous system (CNS), has expanded its business in Southeast Europe through the acquisition of Brain Therapeutics, a CNS-focused marketing and distribution company with expertise in the commercialisation of CNS products in Greece, Cyprus and the Balkan countries.
Having acquired Brain Therapeutics, Neuraxpharm is now able to bring new products to the Greek market since the platform offers a unique level of local market access. The commercial expertise of Brain Therapeutics and the availability of necessary licenses for the broad product portfolio will enable Neuraxpharm to expand its
Funds managed by Blackstone Tactical Opportunities (Blackstone) have agreed to make a GBP140 million strategic investment in Currencies Direct, a global provider of digital foreign exchange (FX) and international payment services to private clients and small and medium sized enterprises (SMEs).
The investment will be made in partnership with Currencies Direct’s management team, led by Keith Hatton, and Palamon Capital Partners and Corsair (“the Sponsors”), which will retain their majority co-controlling stake in the Company.
Blackstone’s strategic investment will be used to accelerate the Company’s growth ambitions through further acquisitions.
In connection with its investment, Blackstone will join the Currencies
MCO (MyComplianceOffice), a provider of conduct risk and compliance technology, is to acquire Schwab Compliance Technologies (SCT).
SCT serves some 700 clients providing a SaaS solution that automates asks associated with monitoring employee trading activity and efficiently administering a firm’s Code of Ethics.
The acquisition is expected to close in mid-2022. For now, the plan is business as usual for both firms. Following the close, MCO will work closely with Schwab to ensure a smooth, effective transition for SCT clients.
McNally Capital (McNally), a specialist in Direct Family Capital, has invested in The Smith & Oby Company (Smith & Oby), a Midwest HVAC and plumbing mechanical contractor and services provider serving primarily the healthcare, education, commercial & industrial, and civic end markets.
McNally invested in Smith & Oby out of McNally Capital Fund II, the firm’s committed buyout vehicle.
McNally’s investment in Smith & Oby aligns with the firm’s investment thesis focused on facilities management and HVAC. McNally Capital completed this investment in line with its model of partnering with family- and founder-owned businesses.
McNally Capital invests capital on behalf
Inverleith LLP, an Edinburgh-based specialist consumer brand investor, has acquired a majority stake in Farmison & Co, a UK-based online butcher.
Focused on British heritage and rare breeds, and an ethical, sustainable supply chain, Farmison has established itself as a leading player in the growing online premium meat and butchery market.
Established in 2011 by John Pallagi and Lee Simmonds in England’s beautiful North Yorkshire Dales, Farmison is on a mission to encourage UK consumers to ‘eat better meat’.
Farmison’s meat is always British, free-range, naturally fed and dry-aged and the business is leading the return
Payment app Dash has raised USD32.8 million in an oversubscribed seed round, one of the largest seed rounds for an African technology startup.
The round was led by New York-based global private equity and venture capital firm Insight Venture Partners, with participation from Global Founders Capital and 4DX Ventures.
Other investors in the round include ASK Capital, Techstars, Guillaume Pousaz’s Zinal Growth Partners, Jitendra Gupta of Jupiter Money, Amrish Rau, CEO of Pine Labs, the founders of Moss, executives from ProcessOut (acquired by Checkout.com), and the founders of PennyLane. The funding will go towards building out Dash’s team, launching new
Brookline Capital Markets, a division of Arcadia Securities, and a provider of research, financing solutions and strategic advice to life sciences, medical technology and diagnostics companies in both the public and private markets, as well as to Special Purpose Acquisition Companies (SPACs), has made four key promotions.
Michael D Fontaine has been promoted to Managing Partner and will continue to head the Equity Capital Markets and Syndicate businesses. Prior to Brookline, Mr. Fontaine served as the Head of U.S. Equity Syndicate at BTIG and Lazard Capital Markets.
Patrick A Sturgeon has been promoted to Managing Partner and will continue to
AmeriVet Veterinary Partners (AmeriVet), a consolidator of US veterinary practices, has closed a USD1.6 billion recapitalisation with funds managed by AEA Investors LP (AEA) and a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) acquiring the company from Imperial Capital Group (Imperial Capital).
AmeriVet’s recapitalisation was a resounding success for both investors and joint venture partners. Investors in AmeriVet, including the majority investor, Imperial Capital, earned a 6.6 times multiple of capital on their investment. As part of the recapitalisation, AmeriVet’s DVM partners were able to participate at the Company’s platform multiple and monetise their retained joint venture
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