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ARIE Capital Group has been granted approval for its Private Fund Management (PFM) licence from the Asset Management Association of China (AMAC), and its Qualified Foreign Limited Partner (QFLP) licence by the Tianjin Free Trade Zone Bureau of Finance.
These two licences are a significant achievement for ARIE Capital Group and its business in China, where it plans to launch several venture capital and private equity funds. Under the QFLP licence it is now able to raise up to USD120 million from Tianjin Municipality’s investment quota, as well as additional capital from international investors that can be converted into RMB
NorthEdge has made a series of appointments and promotions across its Manchester and Leeds offices.
The lower mid-market private equity specialist, which manages more than GBP900 million of funds, has promoted Partner Prem Mohan Raj to Chief Operating Officer. Prem joined the business in 2016 as Chief Financial Officer and has since played a key part in the firm’s success. His new role will see him take on increased responsibility for Investor Relations and fundraising alongside his responsibilities for finance, operations and marketing.
NorthEdge’s Manchester office has also appointed John Hammond as Director in the Portfolio team. Hammond has extensive
Inovo, a venture capital firm investing in technology startups across Poland and Central & Eastern European region (CEE), has today announced the final close of its second fund, Inovo II, at EUR54 million.
A range of global funds, entrepreneurs and family offices joined the European Investment Fund (EIF) as the cornerstone investor.
Inovo specialises in identifying disruptive tech startups and supporting their development and growth through participation in early-stage, post-traction seed and Series A funding. Having a diverse range of LPs in the fund will enable portfolio companies to secure global funding as they scale and expand abroad. The
Kennet Partners (Kennet), a European technology growth equity investor, has agreed to sell its stake in Dext (formerly ReceiptBank), a digital, multi-product platform for accountants and bookkeepers, to Hg, a leading global software and services investor. The sale will provide Kennet with a 4.4 times return on its investment.
Kennet was the first institutional investor in Dext and acquired its stake in the company in 2016. The sale of Kennet’s stake in Dext comes after a record-breaking financial quarter following its rebrand (from Receiptbank) earlier this year.
Over the last five years, funding from Kennet and subsequent investors including
Alto Solutions, a self-directed IRA platform aiming to make it easier for individuals to access and invest in alternative assets using their retirement funds, has closed a USD17 million Series A funding round led by Unusual Ventures, with additional participation from existing investors Moment Ventures, Acrew Capital, and Alpha Edison, and strategic investments from Carta, Coinbase Ventures, Franklin Templeton, New York Life Ventures, and Stone Ridge Holdings Group.
Eurazeo has launched the Sustainable Maritime Infrastructure thematic fund (the Fund) to finance more environmentally friendly infrastructure and technologies in the maritime sector that support the transition to a low carbon economy.
As a consequence, the fund will have the objective of pursuing sustainable development within the meaning of Article 9 of Regulation (EU) 2019/2088 (known as the “Disclosure Regulation”) and will participate directly in the deployment of O+, the Group’s ambitious ESG strategy – one of the pillars of which is the achievement of net carbon neutrality by 2040.
Currently, 90 per cent of the world’s goods are transported
Manchester-based independent debt fund Tosca Debt Capital (TDC) has appointed Mat Deering as a partner to further develop and grow its investment portfolio.
He will be working alongside founding partners Gary Davison and Richard Williams to strengthen the firm’s presence in the market and unlock growth for UK SMEs and lower mid-market corporates.
Deering joins TDC having had a successful career in both corporate advisory with EY and as a partner and original team member with Endless LLP. During his time at Endless, Deering led the Manchester office and was responsible for a number of successful investments including
RM Funds has provided a bilateral GBP13 million senior secured three-year term loan facility to Athena Healthcare Group (AHG).
The financing will support AHG in funding the construction of an institutional-grade purpose built 205 bedrooms care village in Lytham, England. The aged care scheme is expected to reach completion and start trading by early Q2 2022.
This is RM Funds’ second transaction with AHG, having previously completed on a GBP7.8 million construction facility in Q4 2020.
RM Funds is focused on providing investments with outcomes linked to achieving UN Sustainable Development Goals “SDG’s” and this investment offers outcomes
The Riverside Company, a global private investor focused on the smaller end of the middle market, has launched a trade services franchise platform called Threshold Brands, to be initially comprised of five businesses: MaidPro, FlyFoe, Men in Kilts, Pestmaster and USA Insulation, all acquired over the last eight months.
MaidPro is a national provider of residential and light commercial cleaning services through a network of more than 270 franchised locations. MaidPro brings meaningful scale with two additional brands, FlyFoe, a mosquito and tick control franchise, and Men in Kilts, a window cleaning, power washing and gutter cleaning franchise.
Pestmaster provides
The Recreational Group (RG), a US provider of residential and commercial recreational surfacing product, has acquired three specialist turf distribution and installation companies.
The companies are Turf Factory Direct, a national distributor of artificial turf, EasyGrass, a supplier and installer of artificial turf products in South Florida, and Synthetic Grass Pros, a distributor and installer of turf in the Dallas-Fort Worth and Houston markets.
“The fragmented recreational surfacing space needs a consolidator to bring consistent quality and service to the market. RG is that consolidator of choice,” says Ron Bennett, President and CEO of RG. “Easy Grass and Synthetic
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