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Global fintech investment got off to a soft start in Q1 2017, with the total invested globally at USD3.2 billion, down from USD4.15 billion in Q4 2016, according to the Q1 2017 edition of The Pulse of Fintech – KPMG International's quarterly report on fintech investment.
Fintech M&A dropped in Q1 17, with USD920 million in deal volume – down from USD1.8 billion in the previous quarter, and less than half of the USD4 billion in funding in Q1 2016.
Venture capital funding to fintechs held relatively steady at USD2.3 billion in Q1 2017 – a solid result although
Snow Software, a provider of software asset management (SAM) and cloud spend management solutions, has secured a USD120 million investment from Sumeru Equity Partners (SEP) and Ontario Pension Board (OPB).
The investment will accelerate global expansion plans, enhance Snow’s offering across mobile and cloud platforms and drive new product innovation.
Existing shareholders, including CEO and co-founder Axel Kling, Snow employees and Vitruvian Partners, will continue to hold a majority shareholding in the business and remain fully committed to Snow’s evolution.
SEP managing directors, Jason Babcoke and George Kadifa, will join Snow’s board of directors.
Kling says: “We are
The Russian Direct Investment Fund (RDIF) and the Japan Bank for International Cooperation (JBIC) have agreed the key terms and conditions for the establishment and operation of Russia-Japan Investment Fund.
Through the fund and joint investment framework, the parties will jointly pursue and implement attractive investment projects as part of trade, economic and investment cooperation between Russia and Japan.
Both parties confirmed those terms and conditions on the sidelines of the meeting between Russian President Vladimir Putin and Prime Minister of Japan Shinzo Abe during the official visit of the Japanese government delegation to Russia.
RDIF and JBIC
ChromaCode has raised USD12 million in Series B funding led by New Enterprise Associates (NEA) with participation from existing investors Domain Associates, who led the Series A round in 2015, and Okapi Ventures.
The funding will be used to fuel development and establish the commercial infrastructure for ChromaCode's High-Definition Polymerase Chain Reaction technology (HDPCR). This software and assay technology leverages existing real-time PCR instruments and uses digital signal processing to improve molecular analysis.
The company has appointed co-founder Alex Dickinson as executive chairman. Dickinson joins the company from Illumina, where he was senior vice president of strategic initiatives and
Eden L Rohrer has joined the New York office of K&L Gates as a partner in the investment management, hedge funds and alternative investments practice.
She joins K&L Gates from Crowell & Moring.
Rohrer (pictured) concentrates her practice on broker-dealer regulatory, enforcement, and litigation matters, including Self Regulatory Organisation (SRO) membership, employment, research, soft dollar arrangements, chaperoning of foreign broker-dealers, social media, anti-money laundering rules, securities offerings, and market making and trading issues.
She assists clients with responses to examinations and inquiries in a range of enforcement proceedings before the Securities and Exchange Commission (SEC), FINRA, NYSE, and state
EisnerAmper is to hold its second annual Alternative Investment Summit at the New-York Historical Society on 12 June, followed by an evening reception.
Anthony Scaramucci, founder and former co-managing partner of SkyBridge Capital, has been confirmed as the keynote speaker.
EisnerAmper’s summit is an invitation-only event exclusively for financial services executives, investors and key personnel within the alternative investment industry including analysts and portfolio managers. The event will feature highly interactive panel discussions on the latest issues and opportunities in the hedge fund and private equity markets and provide the opportunity for peer-to-peer networking.
Attendees will include chief
Winton Group has invested GBP750,000 as part of a GBP1.25 million investment round into Exonar, a specialist in compliance with the European Union General Data Protection Regulation (EU GDPR).
Amadeus Capital Partners, the global technology investor, has joined Winton and existing angels in providing investment for Exonar.
The investment will be used to expand the availability of Exonar’s next generation Information Intelligence platform in Europe.
The GDPR is intended to strengthen and unify data protection for all individuals within the EU and affects any organisation that holds data on European citizens.
Compliance with the regulation requires new
eQ Asset Management has established its first private credit fund, raising EUR90 million in a first and final closing on 31 March 2017.
eQ Private Credit Fund has 38 limited partners.
The fund invests in debt capital instruments issued by private equity sponsored European unlisted companies.
A minimum of 75 per cent of investments will consist of senior loans with best priority on collateral alongside bank loans. In addition, a maximum 25 per cent can be invested in junior loans. The portfolio will consist of 25-40 floating rate loans with a net target return of 6-7 per cent
Congenica, a specialist in clinical genomics software for inherited diseases, has completed a Series B funding round with additional investments from BGI Genomics, Healthlink Capital and Future Planet Capital.
Alongside investing, BGI Genomics and UniteGen, Healthlink’s associated clinical diagnostic lab, have signed commercial contracts to use Congenica’s proprietary enterprise software, Sapientia to support their operations in China.
These contracts represent Congenica’s first commercialisation in the territory.
Tom Weaver, CEO at Congenica, says: “This additional investment enhances our ability and commitment to deploy our software platform to international markets. Particularly China, where we have established a scalable partnering model
Global trends to increase allocations to alternative assets should give managers confidence in the future of Jersey’s funds industry, according to the chairman of the Jersey Funds Association (JFA).
Speaking at this year’s annual JFA Dinner (21 April) held at the Royal Jersey Showground, Mike Byrne (pictured) told an audience of over 400 funds professionals, senior politicians and regulatory representatives that moves amongst institutional investors were having a positive impact on the performance of Jersey’s funds industry.
Figures for the end of 2016 indicate that the total net asset value of funds under administration in Jersey stood at GBP260
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