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Wolt, a Helsinki-based food delivery service, has secured a USD130 million Series C investment round, led by ICONIQ Capital, to drive growth, expansion into new markets and hiring across operational countries.
Existing investors 83North, the EQT Ventures fund (EQT Ventures), Highland Europe and Lifeline Ventures also participated in the round. This latest investment brings total funds raised by Wolt in the last 18 months to USD160 million, following a USD30 million Series B led by 83North in January 2018.
Founded in Helsinki in 2014, Wolt’s aim is to make it incredibly easy for people to discover and get great food
T-street Capital (T-street) has completed the spinout of a private equity portfolio from a publicly traded commercial bank. T-street acquired the private equity holdings from the bank’s affiliated small business investment company fund and has raised a new USD75.0 million committed fund to continue its focus on growth equity investments.
Dale L Cheney, one of the managing partners of the bank’s small business investment company fund, will continue as the managing general partner of T-street Opportunity Fund I (Fund I).
The Limited Partners in Fund I are led by sophisticated institutional investors, Committed Advisors and Timber Bay Partners. Cheney says:
Newbridge Global Sourcing (Newbridge), a leading specialty finance company focusing on payables funding, recently provided USD30 million in supply chain financing to clients throughout North and Latin America, Europe and Asia.
Clients included a Florida-based distributor of luxury consumer products, a Latin American snack food manufacturer and a New York-based pharmaceutical distribution company, among others.
Newbridge’s differentiated supply chain finance product allows buyers to benefit from extended payment terms up to 120 days while suppliers benefit from the accelerated collection of receivables. Newbridge purchases 100 per cent of clients’ inventory cost, including raw materials, finished goods and packaging supplies.
Mid Europa Partners (Mid Europa), a private equity investor in Central and Eastern Europe, as completed the sale of Bambi, a biscuit producer in the countries of former Yugoslavia, to Coca-Cola HBC AG.
Mid Europa acquired Bambi in 2015 together with Imlek and Knjaz Miloš, the leading regional dairy and natural mineral water players, respectively, forming the consumer group – Moji Brendovi.
HIG Bayside Capital, the distressed debt and special situation affiliate of HIG Capital (HIG), has held the final closing of HIG Bayside Loan Opportunity Fund V with aggregate capital commitments of USD1.5 billion, exceeding its target.
The Fund will continue HIG’s investment strategy of focusing on investments in small-cap, special situation credit opportunities in Europe. With offices in London, Hamburg, Madrid, Milan and Paris, HIG Capital believes it has the largest platform in Europe focusing on investing in the lower end of the capital markets.
Sami Mnaymneh and Tony Tamer, Co-CEOs of HIG, says: “We are delighted with the strong
Prestige Funds, is launching two new distribution share classes for its recently launched Prime Alternative Finance – Luxembourg SICAV.
The Fund is an open-ended direct lending operating in both asset finance and project finance focusing on the UK agriculture sector, particularly SMEs.
The new share classes are:
• Distribution ID share classes are aimed at institutional investors with a minimum investment of EUR 1,000,000 (or currency equivalent) and quarterly liquidity (on 90 days’ notice)
• Distribution D share classes are aimed at advisory investors with a minimum investment of EUR 125,000 (or currency equivalent) and quarterly liquidity (on 30 days’
This week, research by Cambridge Associates finds that sector-specialist PE funds have accrued almost a 5 per cent higher internal rate of return than generalist funds, with healthcare funds leading the pack.
Specialism applies equally to the highly competitive PE secondaries arena, within which one of its leading players, Adams Street Partners, has just raised over USD1billion for its sixth Global Secondary Fund.
And in other developments this week, could the power of collaboration encourage improved deal sourcing and encourage value creation? That’s the hope of The Optimum Alliance, a new platform created by H2 Equity Partners, Sherpa Capital and Auctus
Adams Street Partners has closed the Adams Street Global Secondary Fund 6 with approximately USD1.05 billion in capital commitments. Since April 2016, Adams Street has raised over USD2 billion in capital commitments intended to be invested in secondary investments, including within the Global Secondary Fund 6.
The programme received strong demand from institutional investors worldwide, with commitments from both new and existing investors in the United States, Europe, and Asia. The diverse array of investors included public and corporate pension plans, insurance companies, foundations, endowments, family offices and high net worth individuals.
“We are thrilled to receive strong support
When reviewing middle-office outsourcing proposals, this comment is not uncommon. However, the inclination to evaluate outsourcing by extrapolating in-house operating budgets and comparing them to outsourcing proposals is an insufficient method for determining the total value of a proposed outsourcing relationship.
The private equity fund of Kempen Capital Management (Kempen), the Kempen European Private Equity Fund, has raised over EUR45 million at second closing taking the total fund size to date to more than EUR120 million.
The group of investors in the fund predominantly consists of (former) entrepreneurs, experienced private equity investors, and captains of industry. They come from the Netherlands, Belgium, and Switzerland.
Sven Smeets, Co-head Private Markets, says: ‘This group of investors contributes to the broadening of the investment network in our home market. In addition, Van Lanschot Kempen staff invests in the fund with their own private
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