PE Tech Report

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Schroders has appointed Nicole Kidd as Head of Private Debt for Australia as the firm continues to enhance its private assets capabilities to better meet clients’ evolving investment objectives.Kidd, who has over 25 years of investment banking and asset management experience, will assume the newly-created role on 1 September and be based in Schroders’ Sydney office. She joins from RBC where she was most recently Managing Director and Head of Corporate Banking Australia and Institutional Client Management Asia-Pacific. Nicole will focus on building and developing Schroders’ Private Debt business. This appointment further reinforces Schroders’ commitment to growing its Private Assets
Payment orchestration platform, Bridge, has received an additional GBP2.5 million from Gloag Investment Group to scale up its growing presence in the UK eCommerce and ePayments space and continue advancement of its technology innovation. 
Venture capital
Venture capital funds delivered exceptional performance in 2019 globally, which continued in Q1 2020 unscarred by the unfolding Covid-19 crisis, according to eFront’s latest Quarterly Private Equity Performance report.
Evotec SE and Novo Nordisk have formed a strategic allaince to focus on the discovery and development of innovative therapeutics for patients with chronic kidney disease.
O’Melveny has advised The Friedkin Group on its acquisition of the controlling stake in the professional Italian Serie A football club AS Roma. The deal was first announced on 5 August, 2020 and closed on 17 August, 2020. Romulus and Remus Investments LLC—a company designated by The Friedkin Group for the purpose of the acquisition—has acquired 100 per cent of the assets directly and indirectly owned by AS Roma SPV LLC, which includes approximately 86.6 per cent of the share capital of AS Roma SpA. Headquartered in Houston, TX, The Friedkin Group is a privately held consortium of businesses and investments
Global private equity investors Advent International (Advent) has completed its offer to purchase all of the outstanding shares of Forescout Technologies’ common stock for USD29.00 per share, without interest and subject to any applicable withholding taxes, net to the seller in cash. Advent intends to complete the acquisition of Forescout imminently through a second-step merger. Advent has partnered with Crosspoint Capital Partners (Crosspoint Capital), a private equity investment firm focused on the cybersecurity and privacy industries, on this transaction. Together they will provide Forescout with resources and expertise to help drive continued innovation and scale in Enterprise of Things security, delivering
Generational Equity, a mergers and acquisitions adviser for privately held businesses, has advised Mach 7.4 Inc (dba SHIPS-a-Lot) on an investment by a private investor.Details of the acquisition, which closed on 5 August, 2020, have not been  disclosed. SHIPS-a-Lot, located in Memphis, Tennessee, is a third-party logistics company that does freight fulfilment. The Company was founded in 2015 when three ecommerce entrepreneurs were running an online beef jerky company. Trying to scale the business, they looked for a fulfilment centre to help with orders as they worked on growth. This is when Max and Zach Zitney and their co-founder Zach
Keeper Security, the provider of a cybersecurity platform for preventing password-related data breaches and cyberthreats, has closed a USD60 million minority investment by global venture capital and private equity firm Insight Partners. This is Keeper Security’s first equity raise since its inception. The synergy of the Keeper Security-Insight partnership will further accelerate product innovation and development and catalyse expansion of the company’s global customer base of consumers and businesses. Following the investment, Thomas Krane, Principal at Insight Partners, will join Keeper’s Board of Directors. No other terms of this private transaction are being disclosed. “The past four months have resulted in
Biomass generator
Nova Pangaea Technologies, which has invented a way to use non-food biomass to make biofuels and other chemicals, has raised another GBP900,000 in the run-up to a planned Series A investment later this year. The funding comes from NPIF – Mercia Equity Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund, the UK Government’s Future Fund and existing private investors. The company also appointed Neil Guilder as CFO, Dr Neil Hindle as CTO and Peter McGenity as CCO in connection with the deal. Nova Pangea Technologies completed its demonstration plant at Redcar in December 2019
Diversity
A list of 80 City investment management firms have agreed to back an initiative to increase black representation within key functions in portfolio management and finance. The new initiative, called #100blackinterns, aims to bring together long only and hedge funds, private equity, credit and real estate managers, together with consultants and pension funds within the investment management industry, to give portfolio management function internships to young, university-educated black people. The firms taking part in the program have committed to offer a paid internship to a black candidate next summer in a frontline investment position, and applications are welcome from black

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