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Toscafund Asset Management LLP, with USD4 billion in assets, is to acquire what it calls a ‘significant minority stake’ in London-based independent wealth manager Plurimi Wealth, through Tosca Private Investments Fund.
This is the first transaction from TPIF which is a new specialist vehicle that will target small/mid-market private equity opportunities in the European financial services sector.
The firm writes that TPIF intends to focus on partnering with founders and entrepreneurs looking to accelerate the growth of their business. Established in 2008 by Ramzy Rasamny, Plurimi has grown organically to become one of the leading independent wealth management platforms
The Pender Technology Inflection Fund I Limited Partnership, managed by PenderFund Capital Management (Pender) announces that it has made its first investment leading a CAD6.3 million financing of Clarius Mobile Health, with participation from Export Development Canada (EDC) and other investors.
The company will use the capital to fund overall growth, including expanding its sales and marketing efforts, and continued product development.
“With the combination of ultra-portability and high performance at a cost-effective price, Clarius has the ability to disrupt the point-of-care market for ultrasound and transform the digital health industry,” says Maria Pacella, SVP, Private Equity, Pender. “We
NorthEdge Capital (NorthEdge) has supported the MBO of engineering tooling supplier Cutwel Limited, backing the existing management team led by Adam Gillard, Graham Short and Shaunie Mangham.
Operating from its purpose-built, 24,000 sq ft distribution facility in Cleckheaton, West Yorkshire, Cutwel specialises in supplying precision cutting tools and machine accessories to the engineering industry throughout the UK and Ireland.
Since founding the company in 1996, husband and wife Paul and Mary Hawksworth have invested in strengthening Cutwel’s sales and technical teams, increasing headcount to over 50 people and delivering year-on-year revenue growth from GBP6 million in FY12 to over
Mid Europa Partners (Mid Europa), a private equity investor in Central and Eastern Europe (CEE), is to invest in JS Hamilton and partner with its founder, Jan Olszowski, who will remain involved in the business.
The transaction is subject to customary clearance by anti-trust authorities and is expected to close in Q3 2018.
JS Hamilton is the leading Testing, Inspection and Certification (TIC) company in Poland engaged in food, non-food, fuel and environmental testing as well as cargo and engineering inspection. The Company operates 13 laboratories across Poland and CEE serving customers in Poland, Croatia, Hungary, Latvia, Lithuania and
Creolus has launched the Creolus fund, which is focused on bioplastics innovation. Creolus says it will be world’s first fund with a specific focus on investing in materials and processes to repurpose, redesign and recycle fossil-fuel-derived plastics and across the entire bioplastics value-chain.
The team aims to deploy EUR60 million (GBP50m) in early and growth stage companies and select patents. Creolus seeks to identify exceptional products and teams which are well-placed to lead the development of plastic alternatives and recycling and recapture techniques. The fund has a broad range of tools available to accelerate such investments to commercial scale.
Creolus
China based venture capital firm Banyan Capital announces it is changing its English name from Banyan Capital to Gaorong Capital to establish a more consistent brand recognition among its domestic startups, investors and media.
Gaorong Capital currently manages four USD funds and four RMB funds, with a total commitment of USD1.7 billion approximately. Investors of Gaorong are world-class, including top US university endowments, well-known family offices, sovereign wealth funds and top-notch fund of funds; apart from financial institutions, investors on the strategic side include large conglomerates in tech and traditional industries, successful entrepreneurs such as founders or senior managers of Tencent, Baidu, Taobao, Xiaomi, 360,
Guernsey’s funds industry is seeing a number of new inquiries so far this year and expects to see a rise in the value of the sector before the end of the year, following a decline in the first quarter’s statistics.
Latest figures from the Guernsey Financial Services Commission (GFSC) showed the net asset value of funds business in the island declined by 2.9 per cent (GBP8 billion) during the quarter, with total assets under management and administration amounting to GBP262.5 billion. But the underlying trend is positive, with GBP40 billion growth over the past three years.
The decline was led
A technology strategist, and a business innovation strategist have launched a new venture that will work with corporates and private equity firms to leverage Internet of Things (IoT) technology to boost value creation.
Mark Crosier and Marta Szluinska have founded nVoyage in London, UK, which is aiming to help corporates and private equity firms leverage the IoT to transform traditional businesses or design and build new ones to order – boosting value creation and returns in the process. The company will target corporates and funds in both the US and Europe.
Corporates have long struggled with internal organic development, particularly when they
think project!, a leading Common Data Environment (CDE) provider for construction and engineering projects, has acquired CEMAR, a contract management solution.
The acquisition, part of think project!’s continuing expansion strategy, marks the company’s entry into the UK market for construction project management software, further strengthening its leading market position in Europe.
Gloucester-based CEMAR offers a leading cloud-based solution for managing NEC (New Engineering Contracts) and FIDIC (International Federation of Consulting Engineers) contracts. Delivering its contract management solution to companies with major projects in the UK and abroad, CEMAR serves an impressive roster of customers, including Highways England, Nuclear New
Surkus Inc, a Los Angeles-based industry leader in event technology, has raised USD10 million in Series B funding led by EOS Global, a USD200 million venture fund formed in earlier this year.
The fund is designed to leverage EOSIO blockchain to catalyse the transformation of the digital assets space. Surkus is the fund’s first investment.
As blockchain technology becomes increasingly essential for technology platforms to incorporate, the partnership between Surkus and EOS Global was a natural fit from the beginning.
Of the investment, EOS Global, says: “We fully believe in the mission of Surkus and our shared vision
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