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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
GoGet, an on-demand workforce and job platform based in Malaysia, has closed a Series A round of USD2 million led by Monk’s Hill Ventures. The funding will be used to scale GoGet’s services in Malaysia through product development, building and expanding its product and technology teams. GoGet will also expand its sales and digital marketing teams to grow user acquisition.
“The traditional labor market is inefficient during these challenging times. Businesses especially SMEs need to find innovative ways to cut costs while being profitable. Our robust technology provides these businesses a cost-efficient solution beyond what a traditional job matching service can
Pictet Alternative Advisors (PAA), the Pictet Group’s wholly-owned alternative investment business line, has launched its first thematic private equity fund, which will focus on technology investments.The Pictet Thematic Private Equity – Technology will invest in c20-25 best in class funds globally and will target up to 20 direct/co-investments in private companies over an investment period of three-four years.
This initiative will combine two of the Pictet Group’s successful franchises. Pictet Asset Management has been a pioneer in thematic investing over the last 25 years and manages USD50 billion in 14 strategies. Since 2008, PAA has set up 11 multi strategy
Though external economic headwinds due to the coronavirus pandemic persisted in the third quarter, venture capital (VC) exit activity saw a major uptick, achieving the second highest exit values on record, according to the PitchBook-NVCA Venture Monitor, a quarterly report on VC activity jointly produced by PitchBook and the National Venture Capital Association (NVCA). The positive momentum from the stock market in recent months, particularly the performance of new listings, has encouraged companies to move forward with IPOs if they were prepared and considering that exit route. On the dealmaking side, this report includes PitchBook’s proprietary deal estimation methodology for the
UK private equity Buy & Build specialist, Sovereign Capital Partners’ portfolio company Premier Park, a provider of car park management solutions, has acquired ParkWatch. This is the third acquisition Premier Park has made since Sovereign backed the business in May 2019 to meet the increasing demand for its services through organic growth and strategic acquisitions.
Established in 2012, Park Watch provides car park management solutions to private car parks in the UK. Based in Cheshire, the business manages sites for a range of enterprise, property management agent and SME clients and strengthens Premier’s North West presence. In 2019 Premier Park acquired
Spendesk, a spend management platform for SMBs, has raised USD18 million in addition to its Series B round last year (USD38 million). The new investment comes from global VC fund Eight Roads Ventures and brings the total raised to USD68.5 million. This funding will support the strong growth Spendesk has realised despite the current pandemic, which has accelerated digitisation of finance departments and increased the demand for spend management solutions.
“Many companies see inefficiency in dated processes such as shared company credit cards and manual receipt collection, particularly when their teams are working remotely. The trend towards greater decentralised spending creates
Brazil-based API communication platform Take Blip has completed a USD100 million Series A funding round led by Warbuirg Pincus.
Navaid Equity Partners was founded in Fort Lauderdale (pictured), Florida in July this year to invest in quality businesses in solid industries where there’s potential for growth in the underlying business, but where the business is facing some external type of disruption. The firm focuses on small to medium sized businesses with revenue up to USD 500 million in industries with strong fundamentals and future growth potential.
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