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On-line travel business Momondo Group has secured a GBP10 million working capital line of credit from Silicon Valley Bank, the bank of the world’s most innovative businesses and their investors.
Momondo will use this facility to provide additional liquidity as the business pursues its ongoing growth strategy through global expansion and product development.
Momondo Group has a portfolio of three core brands, Cheapflights, momondo and Skygate, and operates dedicated sites in over 30 countries and territories around the world, in more than 20 languages. Momondo Group offers travel search and inspirational travel information, advice and tips to millions of
TVSMILES, the first quiz app that rewards its users for interacting with various ad formats in a gaming environment, has raised EUR5 million in a recent financing round.
In addition to new lead investor Omnes Capital (EUR2m), TVSMILES is set to receive new capital from its existing investors Ventech, e.ventures, German Startups Group, SevenOneMedia and its current business angels. TVSMILES will use the investments to drive the expansion of its UK business as well as product development.
TVSMILES is a quiz app that rewards users with “Smiles” for interacting with TV- and various digital ad formats. “Smiles” can be
Business turnaround specialist and former Global Head of Strategic Investments at Royal Bank of Scotland, John Davison, will assume the role of CEO of Pillarstone.
Pillarstone is the pan-European platform recently launched by KKR Credit to support banks in managing their exposures to non-core and under-performing assets including corporate loans, real estate and shipping, by improving the performance and value of the businesses which underpin the exposures.
Davison brings a strong track record of working with business owners and managers to turn around businesses to create long-term value for a broad range of stakeholders. In his previous role as
Private equity fund Forward Dimension Capital (FDC) is to invest USD15 million over the next 18 months in Digital Underground Media (DU) to support the digital out-of-home (DOOH) media company in its global expansion.
Based in Vancouver, Canada, DU manufactures and installs its own proprietary technology in underground and train tunnels, as well as operating as a digital out of home media company. It uses this technology hardware to deliver high quality video images to commuters and passengers in tunnels between stations, creating an ideal, high impact medium for advertisers to connect large, measurable consumer audiences and brands. At the
Canada Pension Plan Investment Board (CPPIB) is to acquire a stake of approximately 21.5 per cent in Homeplus, Tesco’s South Korean business, for USD534 million.
CPPIB made this acquisition as part of a consortium led by MBK Partners. The total transaction value is approximately USD6 billion.
Operating in South Korea since 1999, and with more than 1,000 retail outlets across the country, Homeplus is one of the largest multi-channel retailers in Korea and the number two player in both hypermarkets and supermarkets.
“We are pleased to invest alongside our longstanding partner, MBK Partners, in one of the leading
StartupXseed Ventures, a strategic seed funding company, has launched Aaruha Technology Fund (SEBI Registered), to invest in startups focussing around areas of High Technology Businesses including Security, Semicon and Embedded Devices.
The vision of the company is to enrich and provide a stronger holistic support to the start-up ecosystem in India in general and Bangalore/Hyderabad in particular and aims to provide end-to-end support to the seed level companies, in line with the country's current focus on "Make in India".
BV Naidu (pictured), Managing Partner, StartupXseed, says: "We are glad to announce the launch of Aaruha Technology Fund. The start-up
Private equity firm ClearLight Partners has made a major investment in Walker Advertising, in partnership with Mary Ann Walker, the founder and CEO of the legal marketing services provider.
Financial terms of the transaction have not been disclosed.
Mary Ann Walker, Founder & CEO of Walker Advertising, says: “My life’s passion has been to bring hope and justice to the Latino community. Our mission is to provide affordable legal representation to this growing population coast-to-coast, and I look forward to accomplishing this with ClearLight Partners.”
Josh Mack (pictured), a Partner at ClearLight, says: “We are thrilled to partner
European private equity firm Cinven has exited its investment in Avolon following completion of the acquisition of the international aircraft leasing company by Bohai Leasing Co, the Chinese leasing business and part of HNA Group, for USD7.6 billion.
Bohai and Avolon have reached a definitive merger agreement at a price of USD31 cash per common share, representing a 55 per cent premium to Avolon’s initial public offering (‘IPO’) on the New York Stock Exchange in December 2014, at USD20 per share.
Cinven, along with its partners, created Avolon in May 2010 with an enterprise value of USD1.4 billion including
In this excerpt from Preqin Investor Outlook: Alternative Assets, H2 2015, we take a closer look at how investors source and select new investment opportunities, based on the results of our interviews with over 100 investors in hedge funds.
As our extract from the Preqin Special Report: Hedge Fund Manager Outlook reveals, fund managers are finding the fundraising environment more competitive. Therefore, it is more important than ever to understand how investors source and select new investment opportunities, in order to be in with a greater chance of gaining some of the capital earmarked for new investment. With this
Business Growth Fund-backed York Mailing, a supplier of print material to the retail sector, has announced new investment and changes to its management team.
A management buy-out has been led by current CFO Stephen Goodman and financially backed by Pricoa Capital Group. Chris Ingram, who co-founded the business in 1999, becomes chairman and current MD Mike Newbould will also remain on the board, taking on the role of interim CEO. Stephen Goodman will transition into the CEO role as well as leading the wider senior management team who have also become shareholders in the business.
Both Ingram and Newbould
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