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Funds advised by CVC Capital Partners (CVC) are to acquire a majority stake in betting company Tipico Group (Tipico). The current proprietors will remain shareholders in the company. The financial details of the transaction were not disclosed.
The transaction is subject to the approval of the relevant anti-trust authorities and is expected to close in the third quarter of 2016.
Founded in 2004, Tipico is the market-leading provider of sports betting in Germany, with a strong position across other European markets as well. The company operates an innovative, digital multichannel offering with leading online and mobile portals, as well
Capvent, a private-equity firm with a specialist focus on consumer businesses in Asia, has exited its investment in Tsingda, an education services company in China, to another domestic private equity firm resulting in distributions of approximately three times the invested capital.
Capvent Asia invested in 2011 when the company revenues were USD41 million which grew by end 2014 to over USD156 million, and expected 2015 revenues at USD197million. Investors generated 2.9x and 32 per cent IRR.
Tsingda, established in 2003, is a provider of affordable supplementary educational services, for students aged up to 18 years, through online and offline channels
Julian Masters has been made a senior partner of mid-market private equity firm Bowmark Capital, the mid-market private equity firm. At the same time, Tom Elliott and Enrica Dacomo have been promoted to investment director.
Masters leads Bowmark’s business & financial services and media practices. Since joining the firm from European Capital in 2008, he has led a number of successful investments across a range of industries, including specialist legal publisher, Law Business Research, and insurance e-wholesaling business, iprism.
Elliott joined Bowmark from PwC in 2014. He is a member of the firm’s financial services and consumer & leisure teams
Rand Capital Corporation (Rand), a venture capital company that makes primarily equity investments in companies with emerging product, service or technology concepts, has invested USD1.1 million as the lead investor of a USD2.0 million senior term loan package for GENICON.
GENICON is recognised as an emerging leader in the design, production and distribution of patented surgical instrumentation focused exclusively on laparoscopic, or minimally invasive, surgery. The new investment increased Rand's total investment to USD2.1 million, consisting of USD1 million of Series B Preferred Shares acquired in April 2015, a new USD1.0 million senior term loan provided in March of 2016,
Kueski, an online lending company in Mexico offering real-time, micro loans to Mexican consumers, has closed a USD35 million round of equity and debt funding, with the potential to increase to USD100 million in total funding, the largest capital funding in Mexico for a fintech startup.
The USD10 million equity investment was co-led by investors Richmond Global Ventures, Rise Capital, CrunchFund and Variv Capital, with participation from Victory Park Capital and existing investors Angel Ventures Mexico, Core Ventures Group and Auria Capital.
Kueski will use the funds to accelerate portfolio growth, expand its world-class team and extend its brand
Regulatory technology, or ‘RegTech’ as it is known, is building momentum in Ireland as the country looks to embrace the Financial Technology revolution.
Speaking at an Irish Funds Industry press event in London last week, Cillian Leonowicz (pictured), Manager, Financial Services, Strategy & Operations – Consulting at Deloitte, said that there is a “real trend” towards FinTech in Ireland, as new technologies emerge to foster innovation and build new businesses as well as improve operational capabilities in existing businesses.
Financial services is obviously a key industry in Ireland. And with the volume of regulation that has come into effect over
The migration to cloud-based IT systems is forcing governments to update privacy regulations to meet evolving data sovereignty requirements. This new report from Ovum “Data privacy laws: Cutting the red tape” shows results of an international survey on the effects of these evolving regulations on businesses.
Please click here to download.
Employee-owned wealth management, capital markets, private equity and asset management firm Baird has posted record net revenues of USD1.3 billion in 2015, a 7 per cent increase over 2014, despite choppy markets and slow economic growth.
Operating income totalled a record USD154 million, up 14 per cent from a year ago, and the firm’s 2015 return on book value, including a cash dividend paid to shareholders, was 13.2 per cent. Baird’s assets in client accounts grew to USD151 billion, an 83 per cent increase over the past five years. The 2015 results, which are available in the 2015 Baird Annual
Ortus Secured Finance, the London-based commercial lender, says it plans to double its commercial lending to UK leisure sector businesses within the next 12 months.
It also hopes to triple the size of its lending book in Northern Ireland – where its focus centres on commercial property needs – by the end of 2017.
Ortus Secured Finance specialises in lending to pubs, hotels, restaurants and nightclubs across the UK which require short-term finance. It provides asset backed loans to businesses looking to cover costs incurred through sudden spikes in demand or for bridging loans to provide interim capital while
BGF (Business Growth Fund) is continuing to grow its investment team in the Midlands with the appointment of Debbie Sorby.
Sorby has 18 years’ portfolio management experience gained most recently at Midven and before that at YFM Group, Connection Capital and 3i, where she spent 11 years.
Based in BGF’s Birmingham office, Sorby joins a team of 10 investors covering the Midlands who, in addition to identifying investment opportunities, provide support to the companies they back.
BGF experienced a record year in the Midlands in 2015 with more than £60m invested in fast-growing businesses. This year, the team has
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