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VavaCars, a Turkey-based online trading platform for buying and selling used cars has raised USD50 million to expand its operations in Turkey and Pakistan.
Duquesne Family Office LLC (founded by Stanley F Druckenmiller), founding investor, Vitol, plus one other new investor participated in the round.
Since VavaCars’ launch in April 2019 in Turkey, where it operates in close partnership with the leading fuel retailer, Petrol Ofisi, the Company has traded more than 10,000 cars, and has grown to 300 employees. The Company has been growing GMV by an average of 30 percent month-on-month serving the wholesale and retail market with
Schulte Roth & Zabel (SRZ) has appointed Michael R Flynn, a seasoned lawyer within the private capital industry, has joined the firm as a partner in the M&A and Securities Group, based in the firm’s New York office.
Flynn brings to SRZ more than 27 years of experience serving venture and growth equity investors across the fintech, energy tech, life sciences, telecommunications, software, consumer and general IT sectors. At SRZ, Flynn will serve investment funds, strategic investors and other investor-side clients, both in the US and globally, on their portfolio investments, exit transactions and restructurings. In particular, he will focus
Prophix, a specialist in Corporate Performance Management (CPM) software, has acquired Brussels, Belgium-based Sigma Conso, a CPM software and services provider specialising in financial close management and financial planning and analysis.
Prophix has acquired Sigma Conso from Fortino Capital, a European B2B software investor. The acquisition will see Sigma Conso’s technology being added, and eventually integrated, into the Prophix solution. Similarly, their employees will now become part of the Prophix organisation.
As a specialist in cloud-based CPM, Prophix enables mid-market companies across multiple industries worldwide to improve their financial reporting capabilities, while also standardising and streamlining the budgeting process to
Vertical Aerospace (Vertical), a global aerospace and technology company specialising in zero-emissions aviation, has secured over USD200 million in additional financing to support its path to scale production and certification of the VA-X4 electric vertical take-off and landing (eVTOL) aircraft.
Vertical is targeting the highest global certification for its VA-X4, which is expected to achieve the equivalent safety standard of a passenger jet by 2024 (based on the expected standards promulgated by the CAA and EASA).
Mudrick Capital Management (Mudrick Capital) will invest USD200 million in Vertical through convertible senior secured notes. In addition, Kouros SA, a firm specialising in
HelpSystems has acquired Digital Guardian, a SaaS provider of data loss prevention (DLP) solutions for large and mid-sized organisations.
Digital Guardian’s solutions give customers visibility and protection of their data across many operating systems and applications. The company also provides a popular managed service that operates as an extension of their customers’ security teams to protect sensitive data from threats originating inside and outside the organisation.
The team and solutions from Digital Guardian will fit into HelpSystems’ data security portfolio, and combine with powerful security solutions such as GoAnywhere, Clearswift, Agari, and Titus. In addition to extending HelpSystems’ DLP
InCloudCounsel, a specialist in Contract Automation and Intelligence, has secured USD200 million in Series B funding in a round led by funds managed by Blackstone, with participation from existing investor, Battery Ventures, and board member, Mike Paulus.
Berlin Packaging, a Hybrid Packaging Supplier, has signed a binding commitment with O-I France SAS by which Berlin Packaging France SAS would acquire the Le Parfait business and brands.
Founded in Reims, France, in the early 1930s, Le Parfait is known for its iconic glass jars and lids manufactured by O-I France SAS and its affiliates. The brand is popular in France, born from the tradition of homemade preserves, jams, honeys, and terrines that are delicious and long-lasting. Assembled with orange rubber seals, the jars are easily identifiable for consumers and ideal for preserving food while reducing waste. Both glass
Private investment firm Auxo Investment Partners has acquired Genesis Rail Services, a full-service US railroad maintenance company.
As part of the transaction, Cody Harman, son of company founder Jeff Harman, will retain a minority ownership stake in the company and continue in his role running day-to-day operations. In addition, railroad industry veteran John McPherson will serve as Auxo’s operating partner and a board member.
Founded in 2009, Genesis Rail Services provides outsourced mission-critical maintenance of way (MOW), mechanical and construction services to Class I, Class II and industrial railroads across the country. Class I railroads are the largest railroad
GTCR LLC and Reverence Capital Partners, which agreed to acquire Wells Fargo Asset Management (WFAM) earlier this year, have appointed Chris Baker as Chief Compliance Officer of the newly independent company, which is now known as Allspring Global Investments.
Baker will join Allspring in January 2022 from State Street Global Advisors (SSGA) where he serves as Chief Compliance Officer. Baker will report to Kate McKinley, Allspring’s incoming Chief Legal Officer, as well as to the Allspring Funds Board of Trustees.
Joseph A Sullivan, the incoming Chairman and CEO of Allspring, says: “Chris brings a wealth of compliance experience to
A new report published bg Preqin — ESG in Alternatives 2021: Navigating the Climate Crisis — reveals that, as of October 2021, there is USD3.1 trillion of private capital assets under management (AUM) by firms that are committed to ESG investing. This compares with USD8.52tn of private capital AUM globally, or 36 per cent of the total.
Fund managers with established ESG policies are also responsible for a significant portion of total private capital fundraising. Preqin estimates that ESG-committed managers raised USD403 billion in the first nine months of 2021, compared to USD506 billion raised throughout the whole of
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