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JAXJOX, a global fitness technology company known for its workout equipment and platform, has secured GBP7.7 million in a Series A round of funding with investors Dowgate Capital Ltd. and entrepreneur Nigel Wray, bringing total funding raised to date GBP13M. The funding is set to expand development of the highly anticipated JAXJOX InteractiveStudio, the world’s first digital at-home fitness platform with connected free-weight equipment that creates personalised data points based on the user’s performance, and hits the UK market early 2021.In 2019, JAXJOX debuted the KettlebellConnect, the first smart kettlebell with adjustable weights, at CES where the connected fitness tech
Levine Leichtman Capital Partners (LLCP) has held the final closing of Levine Leichtman Capital Partners Europe II SCSp (Europe II) with EUR463 million in capital commitments.Europe II received strong support from a prestigious group of institutional investors, including pension funds, insurance companies, banks, family offices and foundations. Europe II has already completed one investment and has two additional investments under contract.
LLCP has been investing in Europe since the opening of its London office in 2011, expanding its presence with the addition of offices in The Hague in 2015 and Stockholm in 2019. LLCP’s first Europe-focused fund, Levine Leichtman
Long Ridge Equity Partners (Long Ridge), a sector-focused private equity firm, has held the final closing of Long Ridge Equity Partners III. The oversubscribed fund closed at its hard cap of USD400 million of Limited Partner commitments plus an additional USD45 million of commitments from the General Partner and members of the firm’s Industry Advisor Network. Consistent with its predecessor funds, Fund III will target majority and significant minority investments in high-growth financial and business technology companies led by exceptional management teams.
“We greatly appreciate the support and confidence of our new and existing investors, which allowed us to complete
Bolt on acquisition activity has remained robust and proven to be a key feature of deal activity, despite Covid-related inertia in the broader buyout space. As Bloomberg data reveals, there were only two buyouts completed between April and June, one of which was Clayton Dubilier & Rice’s acquisition of Radio Systems. But for PE sponsors with platform companies in their portfolios, and an eye on consolidation opportunities, 2020 appears to have been very much a case of ‘business as usual’.
Cloud cyber resilience specialist Accurics, has raised USD20 million across seed and series A financing in the past six months. With Intel Capital leading the Series A and ClearSky leading the seed, Accurics, the new investment will support Accurics’ market momentum and help the company continue to develop technology that self-heals cloud native infrastructure by codifying security throughout the development lifecycle.
“We envision a world where organisations can innovate with confidence—and our mission is to fill the gap between benefit and threat by enabling cyber resilience as organisations embrace cloud native infrastructure,” says Accurics Co-founder & CEO Sachin Aggarwal. “We’re
Cebile Capital, the global secondaries advisor and placement agent, has closed a GP-led Continuation Vehicle process for two of Method Advisors’ fund-of-funds vehicles.
Actis has entered into agreements to acquire a controlling interest in Octotel, a fibre-to-the-home operator in South Africa for an enterprise value of ZAR2.3 billion (USD140 million). At the same time Actis signed agreements to acquire a non-controlling interest in RSAWEB, a leading Internet Service Provider in South Africa. The transactions are subject to regulatory approval.
Octotel is a leading fibre network operator in the Western Cape region of South Africa. Founded in 2016, its open access fibre network has passed more than 175,000 premises. Through this network, Octotel provides line rental services to Internet Service Providers on a fully vendor
DLA Piper has advised Prime Capital AG, an independent asset manager and financial services provider, and Enlight Renewable Energy (Enlight), the Tel-Aviv-listed independent power producer, on a co-investment in the ready-to-build Björnberget wind park project in central Sweden. This is Prime Capital’s first investment from its newly launched Prime Green Energy Infrastructure Fund (PGEIF).
The Björnberget wind farm is one of the largest onshore wind projects to start construction in Europe in 2020 and was developed by RES, the world’s largest independent renewable energy company. The project is expected to reach commercial operation at the beginning of 2023.
As well as
Abivax, a clinical-stage biotechnology company harnessing the immune system to develop treatments for inflammatory diseases, viral diseases and cancer, has obtained a EUR15 million non-dilutive debt financing from Kreos Capital, with an additional EUR5 million to be decided before 2020 year-end.This financing comprises two tranches of EUR10 million and EUR5 million respectively, with the first tranche to be fully drawn immediately, and a second tranche to be drawn before 1 November, 2020. The loan is expected to extend Abivax’s cash runway until Q2 2021, before any potential revenues from corporate partnering or any future additional funding, preferably non-dilutive.
Professor Hartmut
Independent cyber security business Adarma has enjoyed a record year, with revenues rising 27 per cent to GBP41 million.This is the seventh year of consecutive double digit growth for the Edinburgh and London-based business, and follows a 24 per cent rise to GBP32 million in 2018. It is the first year-end since mid-market private equity house Livingbridge supported an MBO in May 2019, and represents significant progress following the initial investment.
In addition to the record growth in turnover, the business has invested heavily in building out its infrastructure and has made significant investments in people and products. Headcount
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