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Nanotechnology business, MIP Diagnostics, has completed a GBP5.1 million funding round to accelerate its global expansion. The co-investment has come from Mercia Asset Management, a founding investor and the largest shareholder in the company, and was led by Downing Ventures (GBP1.4m), BGF (GBP2m) and Calculus Capital.Bedfordshire-based MIP Diagnostics has developed a proprietary process for the manufacture of synthetic polymer alternatives to antibodies, known as Molecularly Imprinted Polymers (MIPs) and nanoMIPs. The company develops and manufactures synthetic affinity reagents – small molecules that are designed to bind to specific target molecules for detection, purification or extraction purposes.
The robust nature
AXA Venture Partners has led a USD5.8 million financing round in Unlatch, a French digital real estate sales company, including USD4.5 million in equity and USD1.3 million in debt.
Zeus Capital has made six promotions following a string of high profile transactions in the last three months.Since lockdown, the firm has completed 14 transactions, including several public company takeovers, fundraisings and M&A deals.
Within its Corporate Finance team, Zeus Capital has promoted Nick Cowles to deputy head of corporate finance; Jordan Warburton to director and Kieran Russell, Rishi Majithia and AJ Reus to associate director. Rachel Birkett has been promoted to director in the research team, and Anna Thomas, who leads Zeus Capital’s private client offering, has also been made a director.
Cowles has been with Zeus
Luxury homeware wholesaler, Fifty One Percent Limited, has secured a GBP250k finance package from the Midlands Engine Investment Fund Debt Finance, managed by Maven Capital Partners.The funding will allow the Leicestershire-based business to hire four additional staff, while expanding its product line and sales and marketing function.
Fifty One Percent operates as a wholesaler and distributor of homeware products including porcelain and chinaware, soft-furnishings, kitchen textiles and bathroom accessories. The firm lists major retailers as customers including John Lewis, Harrods’ and Selfridges. The firm also supplies internationally to Anthropologie, David Jones, De Bijenkorf and Galeries Lafayette.
Husband and wife management
Growth capital investor VGC Partners has promoted Andrew Lister to partner. The promotion comes a year after Lister joined the firm from Marlin Equity Partners as investment director. In this time, he has driven operational excellence and value creation within the portfolio, helping implement and drive 180-day plans to identify scale up opportunities and improve strategic decision making. He has also integrated robust institutional processes with key stakeholders and LPs.
Examples include WIT Fitness, a sportswear retailer which received a GBP2 million investment in February 2019. Lister has been instrumental in developing WIT’s e-commerce business and scaling-up operations, and he
By Owen Morris, operations director at Doherty Associates – Covid-19 has presented multiple challenges to those working in private equity and finance, not least remote working, which looks set to continue for the future. When it comes to compliance the FCA expects it to be business as usual, despite the effects of the pandemic.
Research conducted by The Carlyle Group suggests that focusing on socially-optimal strategies, such as payroll growth, responsible governance and diversity and inclusion leads to above-market returns.
Elysian Capital has held a first close of its third fund, having raised 90 per cent of the fund’s target of GBP 300 million in three months, since officially launching the fund.
The final close is expected to be completed in the next couple of months from investors already well advanced in the process, according to the lower mid-market firm.
Elysian Capital’s third fund has received commitments from existing as well as new investors from Europe and the US. The Elysian team continues to invest in their own funds, having contributed GBP67 million across its three funds to date.
With
Middle market private equity firm Wynnchurch Capital has appointed Michael Salgat as a Managing Director focused on operations and portfolio management, and Jerry Gao as a Senior Associate.Prior to joining Wynnchurch, Salgat was an Operating Partner with New State Capital Partners focused on financial leadership at portfolio companies. Salgat began his career as an Investment Banker at Candlewood Partners and Donnelly Penman & Partners. He later served as Chief Financial Officer at Sipi Metals Corp and Vice President of Strategy and Finance at Tecumseh Products Company. Salgat earned his BS in Finance at John Carroll University. Gao recently completed his
Carey Olsen has promoted corporate lawyer David Taylor to the partnership, with effect from 1 July 2020.Taylor’s practice in the Jersey corporate group covers a broad area of Jersey corporate and finance law, with a particular focus on M&A and restructuring transactions in the private equity, corporate real estate and equity capital markets sectors.
Recent notable transactions that Taylor has worked on include advising on the sale of Lloyds Bank International’s Channel Islands wealth management and funds business; advising European private equity investor Bridgepoint on the complex cross-border sale of Estera; and acting for Stride Gaming plc in its
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