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Capzanine, a European private investment management company, has completed its first transaction in Germany – an investment via a unitranche instrument in Magix, a provider of video and music editing software and digital content.
Founded in 1993, Magix provides software for designing, editing, archiving and presenting videos, music, photos, graphics and websites. Its solutions go beyond the PC platform and include seamlessly integrated online and mobile applications as well as cloud services. The company is one of the pioneers in Virtual Reality editing and markets its products to 15 million users in 179 countries across the globe. Via its academy,
Avedon Capital Partners and Management have sold VanRiet Material Handling Systems (VanRiet), a provider of integration systems, equipment and after-market services solutions, to Material Handling Systems (MHS), a leading provider of advanced parcel sortation systems, engineering and equipment, backed by Thomas H Lee Partners.
Closing is subject to regulatory approvals.
Founded in 1948 and based in the Netherlands, VanRiet offers a complete range of automated sortation systems, integration and engineering services, sortation equipment, and after-market services solutions to its global, blue-chip customer base. With an experienced and highly qualified management team and employee base, VanRiet serves high-growth end markets,
Seedcamp has held the final close of its fourth fund at GBP60 million, in a heavily oversubscribed round that includes GBP2 million of investment from Seedcamp founders and mentors through a new partnership with equity crowdfunding platform, Seedrs.
The announcement comes six months after the first close of Fund IV at GBP41M in November 2017.
New investors in Seedcamp Fund IV include over 100 founders, mentors and angels from the Seedcamp nation including the likes of Daniel Dines (UiPath), Taavet Hinrikus (TransferWise), Sten Tamkivi (MoveGuides), Ryan Notz (MyBuilder) and Bostjan Spetic, Andraz Tori and Todd Sawicki (Zemanta). Seedcamp Fund
Verto Management, a newly formed waste to value and integrated renewable energy asset management platform, has selected PEF Services to provide fund administration services through its fund accounting platform.
Verto has secured an initial mandate to manage in excess of USD190 million of waste to value and integrated renewable energy assets, and is also pursuing a pipeline of potential project investments and acquisitions to accelerate growth initially in North America, Europe and Australasia.
“PEF’s reputation for providing exceptional service to its clients, together with innovative technology solutions that will allow us to scale, were key drivers in our decision,”
Carey Olsen has advised Techemy Capital Limited on the launch of HODL 1 – a closed-ended fund vehicle targeting investments into private-sale stage initial coin offerings (ICOs).
The fund, which has been authorised under the Jersey Private Fund regime, has appointed Techemy Capital Limited as investment adviser and will invest in cryptographic token deal flow.
The Techemy Group, based in New Zealand, owns and operates a range of businesses which assist in institutionalising this new asset class.
Partner James Mulholland led the Carey Olsen team advising Techemy Capital and was assisted by senior associate Lauren Fletcher.
Mulholland
Facebook and Luxcara, an asset manager for renewable energy investments, have entered into long-term power purchase agreements (PPAs) for 100 per cent of the output and environmental (green) attributes of three contiguous wind projects – Gravdal, Skinansfjellet and Eikeland-Steinsland – in southwest Norway.
The projects, known collectively as the Bjerkreim cluster, will consist of seventy wind turbines of 4.2 MW each and should reach commercial operation in Q4 2019.
Facebook’s PPAs will provide the long- term financial certainty needed for the projects, which comprise an aggregate investment exceeding EUR400 million, to be financed, constructed, and operated by Luxcara. The
Guernsey’s stability and security means it is well-placed to help fund managers overcome Brexit uncertainty over the next couple of years, according to an expert panel at the annual Guernsey Funds Forum in London.
The island’s long-standing stability and experience in operating as a ‘third country’ outside of the European Union were highlighted in a wide-ranging panel discussion which also covered Donald Trump’s policies, quantitative easing, and fund delegation rules. It was agreed that uncertainty was a huge challenge for fund managers.
Alex Barr, Global Head of Private Markets and Real Estate Investment Oversight at Aberdeen Standard, said that
INDOS Financial Limited (INDOS), the independent UK depositary, has been appointed as depositary to four alternative investment funds (AIFs) managed by Gresham House.
The AIFs are Gresham House Strategic plc, an AIM quoted investment company, Gresham House Strategic Public Equity LP and Gresham House British Strategic Investment Fund LP, both Guernsey Limited Partnerships, and Gresham House Forestry Fund LP, a Scottish Limited Partnership.
Bill Prew (pictured), CEO of INDOS, says: “We are delighted to have been appointed as depositary to the Gresham House funds. The appointment leverages our expertise as an independent depositary across a number of disciplines, including
CoInvestor, a platform digitising alternative asset transactions for fund managers, investors and advisers, has appointed Rob Ferguson as its Chief Operating Officer.
Ferguson has more than 20 years’ experience working within software, financial and legal firms in accelerating growth in financial companies. While serving as a member of CoInvestor’s board, he has gained invaluable insight into the firm’s unique offering and its mission to digitise access to, and management of, alternative assets.
In his last executive role Ferguson was Chief Commercial Officer of IG Investments at IG Group, a global leader in online trading. At IG, he spearheaded
Hg Saturn Fund and Intermediate Capital Group (ICG) have partnered to make an investment in IRIS, a provider of software and services to the UK accountancy, education and business market, representing the largest UK and third largest European private equity software buyout ever.
The terms of the transaction, which is subject to regulatory approvals, have not been disclosed.
Over 21,000 accountancy practices and more than 80,000 small and mid-sized businesses, corporates, and payroll bureaus rely on IRIS to run their business every day.
IRIS exhibits a number of Hg’s ‘sweet spot’ business model criteria, including a strong product
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