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Intechnica – a Manchester-based technology business – has closed a GBP2.85million funding round led by investment group Mercia.
The lead investment of GBP2.0million came from NPIF – Mercia Equity Finance, which is managed by Mercia Fund Managers and part of the Northern Powerhouse Investment Fund. An additional GBP750,000 was invested by Mercia Technologies PLC and GBP100,000 by existing private investors as part of the funding round.
The funding will help the company to grow its cyber security division, Netacea, in the UK, North America and other international markets, and expand Intechnica’s consultancy services.
Founded in 2006 by Jeremy
Luxembourg for Finance (LFF), the Agency for the Development of the Grand Duchy’s Financial Centre, has appointed Philipp von Restorff to the role of Deputy CEO, effective as of 15 June.
Von Restorff has extensive experience in financial communication, currently serving as Head of Communication of The Luxembourg Banker’s Association (ABBL). He also held the position of Secretary of the ABBL Board of Directors as well as of Chairman of the Communication and CSR Steering Committee of the European Banking Federation.
He will contribute his expertise across the spectrum of activities of the agency, helping to represent it both
Colmore, a provider of private market Limited Partner services, and the Institutional Limited Partners Association (ILPA), have launched a membership offer for Colmore’s fee validation service.
Colmore’s Fee Allocation Incentive Reporting program, or “FAIR”, is designed to help private markets investors validate fees, expenses and carried interest allocations charged by underlying fund managers.
Ben Cook, CEO of Colmore, says: “ILPA has been fundamental in helping LPs get better access to fee and expense reporting data. What comes next is where we come in: providing confidence that the fees are as the Investor expected.” Cook continued, “We spent a lot of
SANNE, a provider of alternative asset and corporate administration services, has appointed James Bermingham, a funds’ lawyer with more than 20 years’ appoints, as a new Group General Counsel in Luxembourg.
In his new role, Bermingham will be responsible for setting SANNE’s legal strategy to ensure an effective, efficient and adaptable operating platform that is best in class and provides unrivalled support to clients. He will also play an important role in helping guide the commercial strategy of the business, supporting its clients and representing their interests in industry, regulatory and governmental forums.
Prior to joining SANNE, Bermingham was
King & Spalding has appointed Bernhardt Nadell as a partner in the firm’s Corporate, Finance and Investments (CFI) practice group in the New York office.
Nadell represents private equity firms, insurers, reinsurers and leading investment banks in complex insurance-related transactions, including life and property casualty insurance M&A, reinsurance, and insurance securitisations. His broad-based experience in the insurance transactional area includes acquisitions of life and property casualty companies and blocks of business, buying and selling distressed insurance companies, run-off transactions, sponsored demutualisations and management buyouts.
“Bernhardt is a rare find because of his market-leading experience assisting private equity firms in identifying
VSS portfolio company Coretelligent, a provider of comprehensive managed IT and private cloud services, has acquired managed services IT firm United Technology Group. Financial terms of the private transaction have not been disclosed.
United Technology Group specialises in co-managed technology services, including cybersecurity, professional services, hardware and software sourcing. United Technology Group is a leading cloud reseller and IT managed services provider in the Southeast, offering collaborative support and business technology alignment to a broad base of customers in the region.
With this acquisition, Coretelligent cements their nationwide reach by adding an office in Atlanta, joining the four current Coretelligent
Simudyne, a simulation technology company, has closed a USD6 million Series A fundraise, led by Barclays alongside a distinguished set of institutions.
The new funding round includes Graphene Ventures, an early investor in Snap and Lyft, and Gauss Ventures, whose team were early investors in Revolut and Tandem, bringing total capital raised since Simudyne was formed to USD10 million.
With a 600 per cent year on year increase in revenue in 2018 following the addition of new global banking clients, Simudyne has grown to 30 staff members including six PhDs with expertise across fields such as market simulation, fraud
Northern Trust is to provide fund administration and banking services to the recently launched Apse Capital Bridge Fund.
Apse Capital is a new independent European private equity group focusing on buyout and development capital opportunities in European tech enabled information and services businesses.
The closed-ended private equity fund has been established under Guernsey’s Private Investment Fund (PIF) regime which offers an expedited route to market for eligible funds and provides fund managers with greater flexibility.
Ashley Long, Partner, Apse Capital, says: “The Fund was launched in under three weeks, including securing the regulatory approvals. This is testament to Guernsey’s favourable
Clearwater International has advised the shareholders of Littlefish, a mid-market outsourced IT services provider, on securing a significant investment from private equity firm LDC and debt facilities from HSBC to support its growth strategy.
Littlefish is a fast-growing and award-winning provider of outsourced IT services. The business delivers tailored managed IT service solutions and consultancy through a unique service proposition, with customer satisfaction at its core. Littlefish’s service solutions are provided to private and public companies, increasing business productivity and cost efficiency whilst delivering an enhanced user experience. The business employs over 200 staff, spread between its Nottingham and Manchester
London-based software and accreditation specialist, Accredit Solutions, has raised a significant sum of funding from angel investor Andy Center, ex-CEO of CloserStill Holdings Ltd.
Accredit Solutions will use the financing to continue expanding its global reach into Australasia and the USA, accelerate product innovation, development of a client resource centre, expansion of its account management team, and the launch of Accredit 365 – a new product focusing on day-to-day contractor management.
Recently celebrating its second birthday as a stand-alone company, Accredit Solutions’ pioneering accreditation software has been rapidly adopted by stadium operators and tournament organisers across the world.
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