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Edison Partners has completed the sale of its stake in Billtrust, a payment cycle management specialist, to New York-based private equity firm W Capital Partners.
The sale generated more than an 10x return for Edison, the first institutional investor in Billtrust. Additional financial terms of the sale were not disclosed.
Founded in 2001, New Jersey-based Billtrust helps companies automate and accelerate their accounts receivable (AR) processes to increase cash flow, improve operational efficiency and drive customer satisfaction. Since Edison’s investment, Billtrust has grown revenue 30x, built its workforce to more than 500 employees and acquired seven companies, including its most recent
Swarm, the blockchain for private equity, has listed SparkLabs, the largest accelerator network in Asia. Founded in 2013, SparkLabs supports innovation sectors including IoT, smart cities, sustainability, and healthcare.
Through its listing of the SPRK Token, Swarm Fund will support SparkLabs’ effort to raise up to USD30 million through a security token offering. This will fund two of SparkLabs’ accelerators, one focused on smart city development in South Korea and another supporting sustainability efforts in Australia.
“We’re excited to bring this unique opportunity to support innovation to Swarm Fund’s members,” says Philipp Pieper, CEO and co-founder of Swarm Fund.
Independent fund and corporate services provider, the Aztec Group, has appointed Ivana Paprckova as an Associate Director in Jersey.
Following a string of significant client wins, Ivana will join the Group’s private equity team where she will play a lead role in the delivery of fund administration services to its private equity clients.
Day-to-day, Ivana will oversee accounting, investor reporting, the audit process and the preparation and distribution of financial statements, in addition to advising on associated technical matters.
Ivana joins the Group from PwC in Jersey, where she most recently held the position of senior manager in
A team of Hogan Lovells’ lawyers has advised The Craftory, a newly incorporated UK company, on its incorporation and capitalisation by management and investors.
The Craftory’s stated investment objective is to invest in the world’s boldest challenger brands across the Fast Moving Consumer Goods (FMCG) space (with a particular focus on the UK, USA and Mainland Europe). The aggregate capital commitment of the investors is approximately USD300 million.
The HL team was led by partner Robert Darwin. The corporate team included senior associates, Simon Grimshaw and Tarsis Goncalves alongside associate Sid Sethi. Partner Karen Hughes and Counsel Fiona Bantock led
CIFC, a credit manager specialising in US corporate and structured credit strategies, has appointed Joshua Hughes, who most recently served as Head of Global Distribution at Muzinich & Co., as Head of European Marketing, effective immediately.
In this new role, Hughes (pictured), will lead CIFC’s fundraising efforts in the UK and throughout Europe as the firm establishes its European investment platform. Based in the firm’s new London office, Hughes reports to CIFC’s Co-CEO Oliver Wriedt.
“Joshua is a highly accomplished sales and marketing executive, whose credit industry expertise and deep institutional relationships will be instrumental as we further strengthen
Horizon Capital has exited its full stake in Ergopack, a Ukrainian manufacturer of household goods, to Sarantis, a European strategic investor and publicly-listed consumer goods company.
Since Horizon Capital’s investment, Ergopack’s revenue has grown more than 15 times in local currency terms, the Company has launched an additional production facility in Ukraine and modernized its recycling processing capabilities. Together with Ergopack’s dedicated operating founders, Andrii Osypov and Andrii Fayura, Horizon Capital has played a vital role in the Company’s development, expanding and strengthening the management team and pivoting exports to Western markets. Horizon Capital also led efforts to instil best-in-class
Lower-middle-market private equity firm Huron Capital’s aftermarket car accessories and restoration parts platform Drake Automotive Group has acquired Boulder, Colorado-based Proforged, a designer and distributor of chassis parts.
The deal marks the fourth add-on acquisition for the Drake platform investment in less than two and a half years. Since 2016, Drake has also acquired Fender Gripper, Carroll Shelby Wheel Company and OG Innovations.
Proforged has a strong presence in the wear-and-tear replacement market with more than 2,000 steering and suspension products across all major vehicle platforms and brands sold online to auto parts retailers. Proforged was founded by Zack Kanter
Heartland Capital Partners has launched a USD25 million private equity commercial real estate fund, Heartland Income Properties, which will focus on creating a value portfolio of income producing Class A and higher-end Class B commercial real estate primarily throughout the Midwest of the United States.
Markets to be considered include Des Moines, Kansas City, Omaha, Sioux Falls, Dallas, and the Twin Cities of Minneapolis and St. Paul, as well as Atlanta, and Phoenix.
Executive Chairman Tim Kopatich, an Iowa native, says that the fund’s target markets represent a tremendous opportunity for investors. “Local real estate professionals have already presented
Clipper Coin Capital (CCCX) is to have its global exclusive premier listing on Hong Kong-based crypto exchange Coinsuper on 14 May 2018.
Coinsuper provides crypto trading services to individuals and institutions. It has built a professional crypto exchange with strict listing standards, and ensures stakeholders’ safety with state-of-the-art digital security technology. Coinsuper has a team of professionals with broad experience in financial services, wealth management, and blockchain technology.
Clipper Coin Capital is a decentralised brokerage and investment bank focusing on cryptocurrency markets. Clipper Crypto Rating helps crypto participants avoid ICO scams and trade in the future of blockchain technology.
Edge Investments (Edge) has invested in a significant minority shareholding in Over the Top (OTT) video distribution platform Airbeem.
Airbeem’s multi-use Software as a Service (SaaS) platform enables content owners to publish and monetise their video content direct to consumers by creating immersive video experiences reaching audiences on all devices.
Its turnkey solution for the middle market provides an end-to-end solution between content owners and consumers, offering easy and affordable ways for publishers delivering their content to drive various monetisation models and create a compelling user experience around their content.
As research shows an ongoing decline in linear
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