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Basis Vectors, a Berkshire Hathaway-style alternative investment and technology firm, has launched with plans to acquire, transform and accelerate vertically-focused B2B Software as a Service (SaaS) companies.Basis Vectors transforms high-potential yet undervalued SaaS companies that demonstrate potential for long-term growth and robust balance sheets, and is uniquely positioned to help companies that have been strained by the global coronavirus pandemic. Investment in the firm’s USD50 million fund is led by Cianna Capital, a private investment fund focused on new-age technology investments, with participation from the UHNW family offices of Rajesh Jain, founder of Netcore, Abhishek Goel and Tracxn.
Co-founders Ambarish
Wasabi Technologies, a hot cloud storage company, has closed a USD30 million financing round led by Forestay Capital, the technology innovation arm of Waypoint Capital, with participation from Wasabi’s previous investors.
By Paul Aversano and Rino Nori of Alvarez & Marsal’s Transaction Advisory Group – Historically, the field work phase of pre-acquisition due diligence was almost always performed on-site and in-person. However, that shifted almost instantly in early March to being performed exclusively on a remote basis following wide-spread social distancing and shelter-in-place protocols.
Aquiline Capital Partners, a private equity firm that specialises in financial services and technology, has held a final close of its fourth fund, the Aquiline Financial Services Fund IV.
Founded in 2005, Aquiline Capital Partners is a private investment firm specialising in financial services and technology, which is based in New York and London and has USD5.3 billion in assets under management.
“Today’s dynamic market conditions are creating significant disruptions across financial services, technology and healthcare that we believe will present compelling investment opportunities for us,” said Jeff Greenberg, chairman and CEO of Aquiline.
The fund closed with USD2 billion in commitments,
Warranty & Indemnity (W&I) insurance is likely to become more sought after in the coming months as a result of Covid-19, according to Lockton, one of the world’s largest privately held independent insurance brokers.
Take up of W&I insurance in M&A deals is up from 6 per cent to over 40 per cent in the past five years as companies scramble to win transactions in increasingly aggressive and competitive auction processes.
“Back in 2014, W&I insurance was a rarity in M&A transactions. But in the last five years, W&I insurance products – and buy-side policies in particular – have
insitro, a machine-learning driven drug discovery and development company, has raised USD143 million in an oversubscribed Series B financing. The financing was led by Andreessen Horowitz, with participation from new investors Canada Pension Plan Investment Board (CPP Investments) and funds and accounts advised by T Rowe Price Associates, Inc. as well as funds managed by BlackRock, Casdin Capital, HOF Capital, WuXi AppTec’s Corporate Venture Fund, and other undisclosed investors. Current investors ARCH Venture Partners, Foresite Capital, GV, Third Rock Ventures, Two Sigma Ventures, and Alexandria Venture Investments also participated in the financing. In addition, insitro announced that Vijay Pande, PhD, general
KKR has appointed Nicholas Hyde as a Managing Director to lead the firm’s Client Partner Group in Australia and New Zealand.Hyde will be responsible for managing and expanding KKR’s client relationships in Australia and New Zealand, raising capital for the Firm’s private and public markets strategies, and leading new business development for the region. He will be based in Sydney and will work closely with members of KKR’s senior team in Australia and the region, including Scott Bookmyer, Head of KKR Australia, and Diane Raposio, Head of KKR’s Client and Partner Group in Asia Pacific and Head of KKR’s regional
Babylon, a technology company aimed at putting digital-first care into the hands of every person on Earth, had made an investment in consumer health engagement company Higi. Higi – through its 10,000-plus FDA-cleared self-service Smart Health Stations – provides access points that can help people learn about health conditions, assess their risks, and receive personalised recommendations for local care resources and services. Conveniently located within 5 miles of 73 per cent of the US population and free to use, the Higi Smart Health Station experience is complemented by a suite of digital programming focused on awareness, prevention, and condition management. Higi
Optimum Strategic Communications (Optimum), an international strategic healthcare communications firm, has published the results of its survey of European Venture Capital (VC) investors and the impact of Covid-19 on the healthcare sector. The survey held in May 2020 includes responses from 24 of the most influential European VCs, investing approximately EUR15.5 billion in aggregate in the healthcare sector and reveals that six have recently raised new funds totalling circa EUR2 billion in 2019/20.
The Covid-19 pandemic has impacted us all in ways that were impossible to predict just a few months ago. The backdrop of limited face-to-face meetings and travel has
KKR and data centre entrepreneur Franek Sodzawiczny are forming Global Technical Realty, a new build-to-suit and roll-up acquisition data centre platform, to develop and operate data centres for large tech companies across Europe as the PE group sees continued demand for data.
KKR will make a USD1 billion equity commitment primarily from its third global infrastructure fund, which may be topped up with additional commitments over time. “The data centre market in Europe presents a unique opportunity to invest behind the secular trend of increased cloud services adoption and demand for data,” said Waldemar Szlezak, managing director of KKR.
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