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Specialist eCommerce platform Online Poundshop has secured considerable investment from venture capital firm Midven, allowing the company to upgrade current warehouse systems, and create a range of new positions across the business – including marketing and distribution roles.
The investment has come from the GBP35 million West Midlands equity portion of the Midlands Engine Investment Fund (MEIF).
Based in Wednesbury and founded in 2014, Online Poundshop offers a wide variety of top brands and essential products at a discounted price direct to customers across the UK. The company has seen rapid growth since its inception largely due to a
29Bison, a human capital advisory firm for middle market private equity and venture capital firms and their portfolio companies, has appointed Eric Lane as Partner and Chief Operating Officer.
“We are pleased to have Eric join the 29Bison team,” says Laura Queen, Founder and CEO of 29Bison. “Eric’s integration and change management experience, managing initiatives such as mergers and acquisitions, consolidations, restructures, and systems integration, along with his experience creating and implementing human capital management and valuation systems, will transition well to 29Bison’s focus of helping clients reduce risk and add value.”
Prior to joining 29Bison, Lane served as
Trade Ledger, a business lending platform which automates commercial lending processes for global banks and alternative finance providers, has secured a GBP1.5 million strategic investment in a funding round led by Hambro Perks.
Established in 2016 and now operating on three continents, Trade Ledger’s unique lend-tech platform automates all types of digital business finance, helping bank and non-bank business lending organisations alike to fast-track economic growth through process automation and scaling of business credit operations.
Trade Ledger uses financial data APIs (often referred to as Open Banking), Machine Learning, Artificial Intelligence and Robotic Process Automation technologies to enhance or replace old and costly legacy
The Institutional Limited Partners Association (ILPA) has released the first publicly available Model Limited Partnership Agreement (LPA) for the private equity industry.
The legal template, which is available for complimentary, industry-wide use, conforms to ILPA Principles 3.0 and sets a new standard for alignment of interests between general (GPs) and limited partners (LPs). The Model LPA also addresses a persistent and shared need of GPs and LPs to reduce the complexity, cost and resources required to negotiate the terms of investment in private equity funds.
“The industry has to date lacked freely accessible model documents that can serve as
There’s something of a green hue to this week’s newsletter with news of Prestige Funds delivery of GBP100 million in clean energy lending in the first three quarters of the year. MIRA meanwhile, has added to its renewable energy portfolio with the acquisition of an additional stake in the Gwynt y Môr Offshore Wind Farm. And BGF has exited its investment in 3sun Group, a specialist provider of products and services to the global renewable energy industry.
In funds news this week, we report on the closing of a USD1 billion JP Morgan special situations fund and the fourth venture
Peaceable Street Capital (Peaceable Street), a finance company that provides preferred equity capital for small and mid-sized income-producing real estate in North America, has secured an undisclosed minority equity investment from Declaration Partners, the investment firm backed by the family office of David M Rubenstein, Co-Founder of The Carlyle Group.
The investment will support Peaceable Street’s growth strategy and expand its client relationships.
Alan Goldfarb, Managing Partner of Orangewood Partners and Co-Founder of Peaceable Street Capital, says: “We are thrilled to have Declaration’s support as we continue to execute on our strategy and solidify our position as a differentiated
DC Advisory and its parent company Daiwa, have entered into a 50:50 joint venture agreement with renewable energy specialists Green Giraffe.
The new joint venture will complement DC Advisory’s existing leading position in the infrastructure M&A and debt advisory markets, by adding global renewable energy expertise.
Green Giraffe will retain its well-known brand in the renewable energy market with DC Advisory and Green Giraffe working together to bring their complementary strengths and skills for all clients.
Sergio Ronga, Managing Director of DC Advisory’s infrastructure practice, says: “Investors around the world are increasingly focused on global trends such as
Global law firm Ropes & Gray announced today that 16 attorneys have been named partners of the firm, and that eight attorneys have been named counsel, all effective 1 November. Of these, Elizabeth Todd has been named as a partner in the firm’s private equity transactions practice in London.
With these partner promotions – nine women and seven men – 30 per cent of Ropes & Gray’s partners are now women. The largest geographic concentration of new partners is in New York, where the firm has more than 400 lawyers.
The new partners and counsel represent Ropes & Gray’s
British Business Investments (BBI), a commercial subsidiary of the British Business Bank, has announced a new GBP15 million Tier 2 capital facility to specialist bank, PCF Bank.
PCF Bank has a long history as a specialist financier of vehicles, plant and equipment. Established in 1994, and launching banking services in 2017, PCF Bank has helped more than 18,000 customers with purchasing business critical assets for their businesses.
The facility will enable the Bank to draw on additional capital as required, allowing it to utilise capital in an efficient and earnings enhancing manner as the business grows. This investment could
Anacapa Partners, a private equity firm focused on acquisitions in the lower middle market, has completed a growth investment in Auronix, a communications platform as a service (CPaaS) provider based in Mexico. Financial terms of the transaction have not been disclosed.
Founded in 1994, Auronix is the leading CPaaS platform in Mexico. Auronix’s platforms Calixta and Calixta Chat allow companies to reach both existing and potential customers on their preferred medium, driving real-time engagement, higher customer satisfaction, and increased customer awareness. Auronix is headquartered in Mexico City, Mexico.
“With more companies transitioning to mobile-first strategies, the global CPaaS industry
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