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Legends of Learning, Inc, creator of the nation’s leading educational game platform for K-12 students, has raised USD5 million in a seed round led by Konvoy Ventures, a venture capital fund dedicated to the games industry.
Angel investors also participating in the round include James Park (Co-founder and CEO of Fitbit), Holly Liu (Co-founder at Kabam and former Visiting Partner at Y Combinator), Jeremy Liew (Partner at Lightspeed Venture Partners), and Kun Gao (Co-founder and Founding CEO of Crunchyroll).
Legends of Learning launched in 2017 as a solution to better engage students with academically rigorous coursework. Legends of Learning offers
PA Capital has held final closes for two of its private equity funds earlier, with its ninth flagship fund, PA Small Company Private Equity Fund IX (Fund IX) closing at USD473 million, above its USD350 million target, and the PA Small Company Co-investment Fund II (Co-invest II) at its USD200 million hard cap.
Consistent with PA’s predecessor multi-manager funds, Fund IX invests with an emphasis on the lower end of the middle market, building a diversified portfolio of fund investments, co-investments, and secondary investments. Co-invest II seeks to capitalise on the firm’s co-investment deal flow generated through its deep GP
HIG Capital (HIG) has appointed Gwen Watanabe as a Managing Director in the firm’s dedicated life-science investment affiliate, HIG BioHealth Partners.
Watanabe has more than 28 years as an investor, entrepreneur, executive and board member in the medical device industry. Most recently, she was the Vice President and General Manager for Smith & Nephew’s US Robotics business unit.
Watanabe holds an MS in Mechanical Engineering from Stanford University, as well as an MBA from Harvard Business School. She also holds a BS in Mechanical Engineering from the Massachusetts Institute of Technology.
Gen II Luxembourg Services (Gen II), a wholly-owned subsidiary of private equity fund administrator Gen II Fund Services, has completed the firm’s International Standard on Assurance Engagements (ISAE) 3402 Type I Report in the areas of fund accounting, transfer agency, and depositary services.
The ISAE 3402 is an internationally recognised auditing standard issued by the International Auditing and Assurance Standards Board (IAASB). A service organisation’s auditor’s examination, in accordance with the standard, represents an in-depth audit of a service organisation’s control objectives and activities. These activities often include controls over information technology and related processes.
A leading international accounting firm
Virtual underwriting has become a permanent fixture in private equity fundraising according to a new survey of global LPs, conducted by placement agent Capstone Partners.
The survey, which seeks to explore how current underwriting trends impact LP’s ability to make commitments to private equity funds, shows that virtual underwriting has been fully adopted by LPs, with the vast majority virtually underwriting re-ups in 2021, and a comfortable majority virtually backing managers they know well or had met pre-Covid. Just 9 per cent of the 130 global investors said that they had not used virtual processes to underwrite re-ups in 2021.
Lightspeed Systems (Lightspeed), a specialist in learning safety and effectiveness, has secured a significant growth investment from Genstar Capital (Genstar).
Genstar joins existing investor Madison Dearborn Partners (MDP), with the additional investment set to be used to help drive continued product innovation and position Lightspeed to accelerate its mission of keeping students safe and enabling equitable and effective learning.
Genstar and funds affiliated with Madison Dearborn will each have equal ownership stakes in Lightspeed while the founders and management team also retain a significant ownership position.
Sheridan Capital Partners (Sheridan) has completed the majority recapitalisation of SpendMend in partnership with management and Morgan Stanley Capital Partners (MSCP), the middle-market focused private equity team at Morgan Stanley Investment Management.
Sheridan originally invested in SpendMend in January 2018 and enjoyed four successful years working closely with the founders. Co-founder and CEO Dan Geelhoed and co-founder and President Rob Heminger will continue to lead the business, while Sheridan has retained a minority ownership stake and board seat.
SpendMend is a provider of tech-enabled solutions to optimise the cost cycle for the US healthcare industry, and serves more than
British Patient Capital has invested in Epsilogen, a London-based developer of novel therapeutic antibodies to treat cancer, as part of a GBP30.75m Series B funding round.
The investment has been made via Future Fund: Breakthrough, a GBP375 million programme where BPC co-invests with private sector investors in innovative, R&D-intensive UK companies.
Based at the London BioScience Innovation Centre, Epsilogen is working with immunoglobulin E (IgE) antibodies to develop new therapeutic treatments for solid tumours.
Ceros Capital Markets, the investment banking division of Ceros Financial Services, has completed a USD15 million Series D (Series A4) financing round for Pristine Surgical.
Pristine Surgical will apply the funding toward commercialisation of its single-use visualisation platform developed for surgical and diagnostic endoscopic procedures.
Ceros focuses on fundraising for early-stage medical technology and medical device companies that are developing disruptive technologies, particularly for diagnostic and non-invasive procedures. The firm is targeting to raise USD150 million this year. Ceros completed USD117 million in transactions in the medtech sector in 2021 and USD145 million since 2020.
Elevation Securities has hired Paul Young as Senior Managing Director, Senior Special Situations Analyst in the Special Situations Group.
Young will be based in New York City and report to Ian Harris, Senior Managing Director and Head of Research, who leads the Event Driven team.
Young joins Elevation Securities with over two decades of industry experience, most recently as a Senior Analyst on the Event Driven Research team at Olivetree Financial. Previously, he held similar positions at UBS, Bank of America, Wells Fargo and Truist.
Elevation Securities has a dedicated team of analysts, data scientists, consultants and sales professionals who
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