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Wi-Fi thermostat producer ecobee has closed on a USD35 million funding round led by the Amazon Alexa Fund, Thomvest and Relay Ventures.
“These investments enable ecobee to drive significant operational improvements, profitable growth and future product innovations for our customers,” says Stuart Lombard, president and CEO of ecobee. “We see this as a strong vote of confidence in our market-leading products and the growth potential of the connected home market.”
Since its founding in 2007, ecobee has experienced more than 100 per cent year-over-year growth, and has recently been named number one on Navigant’s annual Smart Thermostat Leaderboard rankings.
A decade after starting Blue Sky Alternative Investments, founder Mark Sowerby will hand over the reins to the company’s current chief operating officer, Robert Shand, on 30 September 2016.
Shand has been with Blue Sky since 2010, was promoted to chief operating officer in 2013, and is well known to Blue Sky’s investor and associate network. He will replace Sowerby as managing director, backed by the existing team.
Sowerby, who will remain an active adviser to the business and a significant shareholder, is stepping down to spend time with his family and increase his involvement in other projects with
Substance in the fund management sector, particularly in the context of the Alternative Investment Fund Managers Directive (AIFMD) and Base Erosion and Profit Shifting (BEPS) initiative, is of increasing importance, according to a Guernsey Finance white paper.
Investment funds – Why substance is key, written by funds journalist Kirstie Brewer, examines how the need to prove that an offshore fund manager has the necessary ‘substance’ to its business dealings and functionality has never been more acute, particularly in the context of the current climate of regulatory reforms and politically-motivated improvement of tax transparency.
The white paper looks specifically at
Pricoa Capital Group provided more than USD5.3 billion of private capital in the first half of 2016 to companies and projects globally, increasing its overall portfolio to a record high of approximately USD76 billion in total assets.
Pricoa Capital Group is the private placement arm of PGIM, the global investment management businesses of US-headquartered Prudential Financial.
“For more than 75 years, Pricoa Capital Group’s commitment to investing in long-term relationships has allowed us to consistently offer financial support to high-quality private and public companies around the world – even during periods of sustained volatility,” says Allen A Weaver, senior
ID Experts, a provider of software and services for cyber breach and identity fraud protection, has raised a USD27.5 million round of equity funding.
Healthcare private equity firm Peloton Equity and cybersecurity venture capital firm Trident Capital Cybersecurity, along with existing investors BlueCross BlueShield Venture Partners and the Sandbox Advantage Fund, participated in the round.
ID Experts will use the funding, combined with cash provided from operations, to repurchase shares from select existing shareholders and to continue to innovate its suite of SaaS-based technologies that address the complex cybersecurity and breach risks faced by healthcare, retail, education, and government organisations,
Investec Growth & Acquisition Finance has supported the recapitalisation of Romford-based aviation business Farsound by Rubicon Partners and Grovepoint Capital, an investment partnership focused on the acquisition of industrial businesses in Europe and North America.
Farsound is a global supply chain provider and manufacturer of consumable component parts to the aerospace engine sector. It was acquired in July 2011 by Rubicon Partners and today comprises two divisions: Farsound Aviation and XCEL Aerospace.
The group supplies maintenance, repair and operations (MRO) workshops with parts mainly for overhaul maintenance in the engine after-market. Farsound had a group turnover of around GBP18.9 million
Shareholders of visual analytics software specialist Qlik have approved the sale of the company to private equity investment firm Thoma Bravo.
With the shareholder vote complete, all approvals required to complete the transaction have been received and the transaction is expected to close on 22 August 2016.
Upon closing, Qlik shareholders will be entitled to receive USD30.50 in cash for each share of Qlik common stock they hold.
Lars Björk, chief executive officer of Qlik, says: "We believe our partnership with Thoma Bravo represents a tremendous opportunity to further expand upon our platform-based approach to business intelligence and
Preston Hollow Capital has closed on a USD225 million equity investment commitment from funds managed by HarbourVest Partners.
Preston Hollow Capital will use the proceeds from the investment to expand the company’s municipal finance specialty origination platform and to pursue complementary strategic investments and acquisitions.
“This significant relationship with HarbourVest will provision our continued growth in several ways,” says Jim Thompson, chairman and CEO of Preston Hollow Capital. “HarbourVest’s potent combination of capital and broad investment experience comprehensively deepens our resources. With a total of USD650 million in committed equity capital, we’re well-positioned as a strong, creative financial partner in
Perella Weinberg Partners has appointed Mauro Rossi has a managing director in the firm’s advisory business.
Based in New York, Rossi will be a member of the firm’s financial institutions group (FIG), providing strategic and financial advice to clients in the insurance sector.
Rossi has over 15 years of financial services industry experience. He joins from Morgan Stanley where he was an executive director focused on mergers and acquisitions, strategic advisory, corporate restructuring and capital raising transactions for clients in all sectors of the insurance industry. Prior to that, he worked at Lehman Brothers and, subsequently, Barclays Capital in
Goldman Sachs Alternative Investments & Manager Selection (AIMS) has made a minority investment in private investment firm Littlejohn & Co.
The investment was made through Goldman's AIMS Petershill programme.
AIMS Petershill is purchasing a passive, non-voting, primary stake in Littlejohn representing less than 10 per cent.
The investment follows a 17-year relationship between AIMS and Littlejohn in which AIMS has been an investor in all of Littlejohn's committed capital private equity funds.
Specific terms of the transaction have not been disclosed. None of the AIMS Petershill capital is being distributed, and all proceeds from the investment will be
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