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Professor Joseph Bannister (pictured) of the Malta Financial Services Authority explains how the island is positioning itself as a leading European securitisation market…
How do you assess the opportunity to build out Malta as one of Europe’s leading securitisation markets, given that outside of Luxembourg you are the only EU jurisdiction to have securitisation legislation in place?
Malta provides a legal framework for securitisation vehicles, primarily through the Securitisation Act which has been in place since 2006, and more recently, the Securitisation Cell Companies Regulations, introduced in 2014.
This legal framework has enabled Malta to develop into a jurisdiction of
With the recent introduction of the Notified AIF regime, Malta is positioning itself to provide fund promoters with an unregulated fund where speed to market is of the essence.
Over the years, Malta has become a jurisdiction of choice for providers of financial services particularly the funds sector with over 600 investment funds, 86 fund managers, of which 40 AIFMs, and 26 fund administrators.
As one of the earliest adopters of the AIFM Directive in 2013, Malta has sought to provide a compelling route to market for smaller and emerging hedge fund managers and it appears to be going from
iOmx Therapeutics has closed a Series A financing round totalling EUR40 million, co-led by MPM Capital and Sofinnova Partners.
Wellington Partners and Merck Ventures also invested.
iOmx focuses on the development of cancer therapeutics addressing next-generation immune checkpoints. By systematically screening human tumour cells, the company has already identified a number of new targets and analysed their mode of action.
The proceeds of the financing round will be used to advance several proprietary product candidates up to initial clinical proof-of-concept.
iOmx was founded based on work from the laboratory of oncology expert and co-founder Philipp Beckhove, previously
The shock Brexit result this June sent ripples across Europe as individual Member States absorbed the news. And whilst some jurisdictions have been quick to seize the initiative on the back of the uncertainty that UK firms face – especially as it relates to passporting for London's much lauded financial services industry – Malta is focusing on maintaining the harmonious relationship it has with the UK.
"We see ourselves partnering with UK operators to provide solutions to help them sustain their business models; we're not looking to try and take business away from the UK," comments Kenneth Farrugia (pictured), Chairman
Private equity fund manager and Enterprise Investment Scheme (EIS) and venture capital trust (VCT) specialist Calculus Capital has sold its stake in Metropolitan Safe Deposits to private investors, generating a 158 per cent return in the process.
Calculus invested in Metropolitan at 6.32p per share, in February 2012, selling its holding for 11p per share in September 2016, a cash on cash return of 1.81x including dividends already paid.
Including initial income tax relief available to investors through the deal, the cash on cash return rises to 2.58x.
John Glencross, Calculus Capital chief executive, says: “We invested in Metropolitan at
Bregal Unternehmerkapital has acquired a major stake in Swiss company Kunststoff Schwanden, a manufacturer of complex plastic parts and components.
As part of the succession plan, the previous owner Albert Kiener will still play a key role in the company.
Chief executive André Bermann and chief financial officer Martin Züger will acquire shares in Kunststoff Schwanden as well. They will both remain in their respective management roles. The participation of other members of senior management is expected.
The operating properties on the two sites, Schwanden and Näfels, will remain the property of Kiener and will be rented out
Venture and growth investor Beringea has strengthened its UK investment team with three new hires including investment director, Eyal Malinger.
These appointments continue the growth in the investment team over the last 18 months, linked to an increase in funds under management.
Malinger joins Beringea from Countrywide where he oversaw investments in property technology. Having also held positions at Oaktree Capital and McKinsey & Company, he has a proven track record of identifying and managing investments, working with entrepreneurs and growing businesses.
At Beringea, he will be leveraging his expertise in a number of technology verticals to help
The Brexit vote is already leading to actions that are “silently killing” the UK’s technology sector, according to M&A advisory firm Magister Advisors.
A poll of the fastest-growing UK technology companies suggests that half the key talent on average is British, 30 per cent from other EU countries and 20 per cent from further afield.
The uncertainty generated by Brexit raises an immediate question mark over the future of half of the technology talent currently deployed in the UK’s hitherto thriving technology industry.
Magister Advisors also sees the impact of uncertainty immediately manifesting itself with fast
A EUR20 million loan to help finance the construction of Senergy 2, a 20 megawatt (MW) photovoltaic solar power plant in Bokhol, northern Senegal, has been agreed by intermediate capital and mezzanine finance facility Green Africa Power (GAP).
Construction has already started on site and the plant, which will provide enough renewable electricity for some 160,000 people, is expected to be fully operational this year.
Senergy 2 will create an estimated 150 jobs during construction and 25 local jobs once the plant is operational, as well as reduce the country’s CO2 emissions by 22,320 tonnes per year.
GAP
European venture capital company Truffle Capital has appointed Olga Koulechova as partner and head of business development.
Koulechova is taking over the business development and will manage institutional fund raising campaigns in life sciences and fintech – Truffle Capital's main areas of expertise.
Prior to joining Truffle Capital, Koulechova had been head of business development and partner at Idinvest Partners since 2011.
As VP senior sales international, head of Nordics at Edmond de Rothschild Asset Management since 2007, Koulechova had previously participated in the marketing and promotion of the group in the Nordic area. She also held the
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