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NorthEdge Capital has completed the second exit from its Fund II with the sale of Cubic Motion to Epic Games.NorthEdge’s investment in September 2017 unlocked the next phase of growth for Cubic Motion, which saw the business expand into US markets with a permanent presence in Los Angeles and transition into new headquarters at Manchester Science Park.
The Cubic Motion investment was led by George Potts, Investment Director, and Jon Pickering, Partner at NorthEdge. The exit was led by Potts and supported by Grant Berry, Managing Partner. Legal advice was provided by David Mkhitarian, Hill Dickinson.
Cubic Motion
Monomoy Capital Partners has acquired Mac Papers, Mac Paper Converters, and All Square Digital Solutions (collectively Mac Papers), a regional distributor of paper, packaging, wide format and envelope products in the Southeastern United States. Terms of the transaction have not been disclosed.
Mac Papers was founded by Frank and Tom McGehee in 1965 as a fine paper distributor in Jacksonville, Florida. Led today by their sons David, Sutton and Mac McGehee, the business has significantly expanded over its 55-year history and now generates over $600 million in annual sales. In addition to fine paper, Mac Papers now distributes packaging materials and
Edison Partners, a growth equity investment firm, has exited its investment in Scivantage to Refinitiv, a provider of financial markets data and insights, trading platforms, and open data and technology platforms. The exit generated a nearly 3x return for Edison Partners.
Scivantage has grown as a trusted Software as a Service (SaaS) innovator in the fintech market. The company’s primary solutions include wealth management offering Wealthsqope, a digital client experience, and Maxit E2E, an end-to-end tax reporting solution.
“We are grateful to CEO Chris Calhoun and his management team who combined domain expertise with consistent execution,” says Michael Kopelman,
LDC, the private equity arm of Lloyds Banking Group, has made a number of senior promotions across the firm as part of its commitment to invest GBP1.2billion in UK mid-market firms in the next three years.The promotions follow a period of significant success for the leading mid-market private equity investor, having already completed two investments and two exits in 2020. This builds on a strong performance in 2019 where LDC invested GBP365million to back 18 ambitious management teams, and generated a total of GBP330million total proceeds, despite challenging market conditions.
Head of New Business Andy Grove is promoted to a
Middle-market private equity firm HKW’s portfolio company, Xirgo Technologies (Xirgo), has acquired assets and technology of Palo Alto-based Owlcam. Financial terms of the transaction have not been disclosed.“We are excited about adding Owlcam’s technology to the Xirgo product portfolio and the immediate impact it’s going to bring to our enterprise customer base,” says Shawn Aleman, CEO of Xirgo. “Delivering AI camera technology with our existing vehicle telematics products was already part of Xirgo’s short-term road-map and strategic vision. The addition of Owlcam technology has allowed us to accelerate that vision, putting us significantly ahead of our original timelines.”
Owlcam’s
As governments impose travel bans, schools and museums close down, countries go into lockdown and London’s Trafalgar Square is eerily quiet, it’s safe to say that the global economy is in the eye of the storm.
Equity markets saw their worst day since the Black Monday crash in October 1987 yesterday, with UK and US equities down close to 10 per cent.
Many economists agree that recent developments will likely move the world into a global recession. According to wealth manager Kingswood, history would guide us to expect market declines no greater than the 25-30 per cent drop already seen
Culture Shift has secured a GBP1.35 million investment in a funding round led by Praetura Ventures, a VC firm which targets early stage businesses in high value sectors.
The investment in Culture Shift is Praetura Ventures’ fourth from its Praetura EIS 2020 Fund, which closed in January. Other recent investments include Patchwork, a rapidly growing healthtech start-up on a mission to solve the NHS staffing crisis, and SteamaCo, a technology provider to energy suppliers in emerging markets.
Praetura Ventures has raised more than GBP22 million since May 2019 to invest in early-stage businesses in the North and across the
Jensen Partners, an executive search and corporate advisory firm for the alternative investment management industry, was named “Best Recruitment Company for Investor Relations & Asset Raising” by the readers of Private Equity Wire, a leading source for PE news and features.
Paris-based start-up Akur8 has raised EUR8 million (USD8.9 million) in a Series A funding round from BlackFin Capital Partners and MTech Capital.
C5 Capital’s founder and managing partner, Andre Pienaar speaks with tangible passion when discussing the potential for investing in female entrepreneurs in the cybersecurity space. As one of the UK’s foremost cybersecurity VC investors, C5 Capital knows what to look for when assessing innovation in the sector. In Pienaar’s view “for the future success of the sector we have to diversify”.
“The cybersecurity sector is producing a significant number of dynamic female founders, which is a positive development,” he says. “They are building very successful businesses. This is an important theme of our latest fund, C5 Impact Partners LP: to
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