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TourRadar has secured USD50 million in a Series C funding round led by TCV with participation from existing investors Cherry Ventures, Endeit Capital, Hoxton Ventures and Speedinvest.
TCV is one of the largest providers of capital to growth-stage private and public companies in the technology industry and has backed industry-leading companies including Airbnb, Expedia, HomeAway, Netflix, SiteMinder, Spotify, Vice, and Zillow.
In connection with the funding, Erik Blachford, a venture partner at TCV, has joined TourRadar’s supervisory board. Blachford was previously President and CEO of IAC Travel, managing all of IAC’s travel assets including Expedia, Hotels.com, and Hotwire.
Aberdeen Standard Investments (ASI) and Phoenix Group (Phoenix) have established a private markets fund financing strategy which is tailored to Phoenix’s financial objectives as an insurer.
It will initially be funded with GBP500 million of capital as it enters the market, which will be transferred from liquidity funds and short duration funds, in a strategy that seeks to generate increased returns from illiquidity premia, whilst assuming the least amount of credit risk.
The strategy focuses on providing investment grade, short duration loans to private markets funds in the earlier years of their life. Given the security on offer
European Buy & Build activity reached its highest level on record in 2017, with a total disclosed deal value of GBP7.8 billion, according to Silverfleet Capital’s European Buy & Build Monitor.
The most active region for add-ons was the UK & Ireland, despite the uncertainty caused by Brexit.
The Buy & Build Monitor, which tracks global add-on activity undertaken by European- headquartered companies backed by private equity, identified a provisional total of 619 add-ons in 2017, a 7.8 per cent increase on the 574 add-ons recorded in 2016.
The average disclosed value of add-ons in 2017 was GBP87
Inflexion Private Equity has appointed Irina Hemmers as a Partner. She will lead the TMT team, building on Inflexion’s long history of successful investments in the sector including On the Beach, FDM and Reward Gateway.
Hemmers started her career at McKinsey & Company before joining Apax Partners as a Partner in the media team where she spent 13 years responsible for digital investments globally. More recently, Irina was a Partner and Head of Principal Investing at Eight Roads, the proprietary investing arm of Fidelity International.
Inflexion has also promoted Malcolm Coffin and Josh Kaufman to Partner with immediate effect.
Kramer Laboratories (Kramer), a marketer of over-the-counter (OTC) foot care and specialty cough products, has acquired Nizoral, an anti-dandruff shampoo brand sold in North America and Latin America, from Janssen Pharmaceutica NV (a member of the Johnson & Johnson family of companies).
Kramer is a portfolio company of Avista Capital Partners (Avista), a healthcare-focused private equity firm, and Dana Holdings, a consumer healthcare-focused private investment group.
Rick Kornhauser, Chief Executive Officer of Kramer, says: “We are delighted to add Nizoral, an iconic OTC brand, to the Kramer portfolio. With over a 25 year history, Nizoral is one of the
Kawa Capital Management, Inc. today announced the funding of a USD11.25 million loan to ExcelCredit SAS, an established provider of pension and salary advances to Colombian civilians and employees of certain Colombian federal agencies.
The funding of this loan was accomplished primarily on Kawa’s online investor platform, which allows accredited investors to invest in institutional quality deals. The loan was funded pursuant to loan participations sold by a special purpose vehicle owned by Kawa Capital Management, Inc.
The loan is secured by a pool of roughly 2,600 loan advances made to existing ExcelCredit borrowers, and will broaden the company’s
Future Industrial Services (Future), a private equity-backed environmental and industrial services specialist, has completed the acquisition of Colt Industrial Services (Colt) assets from Augean PLC, in a deal valued at GBP1 million.
Headquartered in Kirkby, Merseyside, Future works with clients including government, major utilities and multi-national companies to provide cost-effective solutions to waste management and decontamination requirements.
Colt provides a range of specialist industrial services to sectors including rail, military and utilities. The Colt acquisition sees Future acquire a significant number of fixed and mobile assets together with 40 staff, taking total headcount to over 350. Future has also
Fulcrum Capital Partners (Fulcrum), a private equity firm focused on the Canadian middle market, has acquired National Logistics Services (NLS), a specialist in Canadian third-party logistics for the apparel, footwear and action wear markets in North America.
NLS has experienced strong growth over the last decade, with over 50 years of continuously evolving retail logistics expertise, a deep understanding of the fashion logistics industry, and best in class e-commerce enabled systems and software.
“We are very excited to partner with Fulcrum through its investment in NLS,” says Terry Vukosa, President of NLS. “The foundation of our success is a
Incubator and accelerator fund Emergence has successfully closed a third funding round of EUR320 million for its second European equities sub-fund, bringing the total amount of capital raised from 16 French institutional investors and invested in the three sub-funds to close to EUR800 million.
“This fundraising is a real success: it represents a 60 per cent increase compared to the previous sub-fund dedicated to equity strategies, and confirms the quality of the managers’ selection and their respective successes. Thanks to its original national marketplace model reinforced by the extension of its club of LPs, Emergence opens new horizons to retain or
The Dementia Discovery Fund (DDF) has raised GBP250 million (USD350 million) from a group of strategic investors committed to developing new medicines for dementia.
The goal was met today with a new investment of USD60 million from US AARP, the global nonpartisan organisation dedicated to empowering Americans 50 and older to choose how they live as they age.
The fundraising far exceeded its initial target of USD200 million (GBP130 million), making it the first and largest venture fund focused entirely on discovering and developing novel therapies for dementia, including Alzheimer’s disease.
The DDF makes early stage venture capital
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