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The amount of money raised by Venture Capital Trusts (VCTs) in the 2018/19 tax year for investment in small businesses reached GBP731 million, the highest amount ever raised at the current level of 30 per cent up-front tax relief and the second highest amount since VCTs’ inception.
Last year the VCT sector raised GBP728 million.
That’s according to the latest figures released by The Association of Investment Companies (AIC).
Ian Sayers, Chief Executive of the Association of Investment Companies (AIC), says: “The 2018/19 fundraising figure reflects consistent high demand for the VCT sector and the growing recognition of the benefits
iMod Structures (IMS), makers of ‘future proof’ modular classrooms, has raised USD11 million in a Series A round of funding led by the Goldman Sachs Urban Investment Group.
This financing in equity and warrants marks the first institutional investment in the company. Los Angeles-based law and consulting firm Manatt, Phelps & Phillips, LLP were advisors to Goldman Sachs on the transaction.
Proceeds of the funding will be used to finalise renovations at the iMod Structures 100,000-square-foot factory on Mare Island in Vallejo, CA, and to expand the company’s customer engagement and deployment team. This enables commercial scale production of iMod
Mid Europa Partners (Mid Europa), a private equity investor focused on Central and Eastern Europe (CEE), is to acquire a majority stake in Mlinar dd (Mlinar) from its founder, Mato Škojo, who will retain a stake in the business. The transaction is subject to customary closing conditions and is expected to complete in Q2 2019.
Mlinar is the bakery retail and wholesale business in Croatia and operates the largest bakery retail network in South East Europe. The company serves pastries, breads, drinks, sandwiches and salads to more than 36 million customers per year through circa 220 directly- owned stores in
ARQIS has advised Sankyo Tateyama. on the acquisition of the aluminium foundry (casting) business of Aluwerk Hettstedt (AWH), a manufacturer of cast and extruded aluminium products, and of the entire business of RMG Metallfachhandel (RMG), a distributor of semi-finished metal products.
The parties have agreed not to disclose the purchase price.
AWH is a manufacturer of cast aluminium billets and extruded profiles and specialises in the casting of medium and hard alloys. RMG acts as AWH’s exclusive distributor and is an integral part of the overall transaction.
With the acquisition of AWH and RMG, Sankyo Tateyama enables its
There was a sharp increase recorded in private debt fund activity in France in 2018 confirming the growing importance of private debt in financing methods, by offering companies and equity investors an alternative and complementary financing solution to bank debt.
That’s according to a new report by France Invest (Association of Investors for Growth) and Deloitte based on a survey of members of the France Invest Private Debt Commission and international firms which have a team specialising in private debt or a representative office in France. A total of 84 per cent of the 37 firms surveyed responded.
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Eze Castle Integration, a global managed service provider to the investment industry, has launched its Eze Dark Web Monitoring Service to proactively protect clients against the threat of stolen user credentials and targeted account takeover.
Eze Dark Web Monitoring scans the dark web for client watchlist assets and triggers an automatic response if a match occurs to enable action before a potential breach.
Across the dark web underworld criminals are buying and selling stolen user credentials, including email addresses, usernames and passwords, to access high value (i.e. executive and privileged user) accounts. Once in a system, criminals steal financial assets,
Twin Brook Capital Partners, the middle market direct lending subsidiary of Angelo Gordon, has appointed Timothy Wentinkas a Managing Director focused on its Healthcare Lending business.
Wentink joins the Twin Brook team from Madison Capital, where he was a Managing Director on the Healthcare Leveraged Finance team.
“With his proven history of success and extensive industry expertise, we are thrilled to welcome Tim to the Twin Brook team,” says Twin Brook Founder and Managing Partner Trevor Clark. “Private equity sponsors have become increasingly active in the healthcare sector, particularly in the US middle market. The addition of Tim will make
Fladgate has appointed corporate partner Anthony Shatz from RPC.
Shatz advises on high value and complex corporate transactions to both domestic and international clients. His client base is extensive, covering private equity, real estate, hotels and aerospace, and he has deep experience of both M&A and funds related transactions.
Fladgate’s Chairman, Richard Reuben, says: “We are delighted to welcome Anthony to Fladgate. Anthony’s arrival complements Fladgate’s ambitious growth strategy, building on last year’s success.”
Grant Gordon, head of corporate, adds: “Anthony’s expertise further bolsters the skillset of our expanding corporate practice. A natural fit for the firm, Anthony’s technical knowledge and wide-ranging
Burford Capital Limited (Burford), a global finance and investment management firm focused on law, has closed the Burford Alternative Income Fund LP (BAIF), a new private fund focused on post-settlement investments.
BAIF will invest in settled litigation matters, monetising a claimant’s settlement and other associated legal receivables. The solution serves to meet the needs of law firms awaiting payment of their fees and clients eager to release cash from the settlement, who find it attractive to secure financing against those expected receipts.
A variety of institutional investors made commitments to BAIF in the aggregate amount of USD297.25 million. BAIF’s investment
Willkie Farr & Gallagher has appointed UK solicitor Jane Scobie as a partner in the firm’s Tax Department in London. She was previously a partner at Dechert LLP in London.
Scobie advises clients on a broad range of complex corporate and commercial tax matters with a particular focus on private equity transactions including investments, private and public company takeovers, private fund formation and restructurings as well as other private funds issues. She also assists clients on employment taxation and share incentive arrangements.
“Jane’s extensive corporate tax experience and work with private equity clients in particular will further expand the transactional
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