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Force Over Mass Capital has launched a Seed Enterprise Investment Scheme (SEIS) – Enterprise Investment Scheme (EIS) fund which will invest in fast growth technology companies.
The fund will provide high net-worth investors with the opportunity to invest in technology, through a risk-mitigated portfolio of early stage technology companies with high growth potential and potential tax reliefs of up to 64% of the capital.
The fund is closing the funding gap between crowd funding and traditional venture capitalists in the start-up technology sector allowing investors to benefit from its significant organic growth potential. The fund aims to raise GBP15
Duane Morris has appointed Ute Mueller (pictured) as a partner in the firm’s Corporate Practice Group in London.
Mueller's addition further strengthens Duane Morris' international corporate capabilities. She joins Duane Morris from Boodle Hatfield.
Mueller focuses her practice on domestic UK and international transaction work, with special attention to the Anglo-German market and the metal commodities sector. She represents businesses and entrepreneurs with domestic and cross-border mergers, acquisitions, MBOs, MBIs and joint ventures. Mueller guides her clients on a day-to-day basis on multiple commercial agreements, specifically in the hard commodities sector. She is qualified as an English solicitor, as
Beringea, manager of the ProVen Venture Capital Trusts, has sold the VCTs’ stakes in Speed Trap Holdings (STH), a digital data analytics company, to IS Solutions plc.
STH is the parent company of Celebrus Technologies – the developer of software that allows organisations to understand their customers’ interactions with their websites, mobile applications and social media channels in real time on an individual and personalised level.
Beringea first invested in the STH in 2010 through ProVen VCT and ProVen Growth and Income VCT. It is anticipated that the sale to IS Solutions will generate a circa 2x return on investment
Vector Capital (Vector) is to acquire Saba, a specialist in cloud-based intelligent management solutions, for USD9.00 per share in an all cash offer.
"Over the course of Saba's comprehensive review, the Board of Directors and our advisors evaluated a wide range of strategic alternatives, and engaged with a number of parties. We are pleased to have reached this agreement with Vector, which provides significant cash value for our shareholders. Our Board unanimously believes that this is the best outcome for Saba, our shareholders, customers, partners and employees," says Bill Russell, Saba's Non-Executive Chairman.
"Over the last 17 years, Saba has
Edmond de Rothschild Investment Partners’ BioDiscovery 3 portfolio company, GlycoVaxyn has been acquired by GlaxoSmithKline (GSK) in an all-cash transaction valuing the company at approximately USD212 million.
GlycoVaxyn, founded in 2004, is a spin out of the Swiss Polytechnic Institute of Zürich. It has developed a biological conjugation platform which enables the development of a new generation of conjugate vaccines against major bacterial infections. Vaccines this type are protecting children and adults against several infections among others pneumonia, meningitides, and the role of vaccination to prevent bacterial infections is becoming increasingly important with the development of resistance to antibiotic treatments.
The number of European private equity backed deals rose by 10% in Q4 2014, from the 334 transactions seen in the previous three months to 366 transactions, according to SL Capital Partners.
The firm’s Private Equity Barometer for 2014 reveals that combined deal value also staged a recovery, rising by 19.
At EUR73m, the average deal value in the fourth quarter was 9% higher than that of the previous quarter and only 4% lower than the peak recorded during the last ten quarters (in Q2 2013).
Deal numbers rose to 137 in the fourth quarter, an increase of four from
Private equity firm Actiis is committing USD230 million to create an Indian renewable energy platform, Ostro Energy. Ranjit Gupta has been hired as CEO of the platform.
With a strong background in the Indian energy sector, Gupta is building a strong team to lead the business.
Ostro Energy’s first project is Tejuva, a 50.4MW wind project, already under construction in the Jaisalmer district of Rajasthan. On completion, the platform aims to provide 800MW of capacity across several Indian states by 2019.
Ostro Energy is the fifth such energy platform that Actis has created recently, following Globeleq Meso America
Law firm Noerr has advised Rocket Internet AG on the acquisition of a 30 per cent stake in the internet platform Delivery Hero.
Delivery Hero is the world’s leading group for online and mobile food delivery services. Rocket acquired both existing and new shares with the transaction, which has a volume of approximately 496 million euros. Rocket Internet has been listed on the Frankfurt Stock Exchange since October 2014 and regularly relies on Noerr to provide it with advice and support with respect to its activities.
Rocket is integrating this newly acquired stake in Delivery Hero into its recently established
Morgan Stanley Global Private Equity (MSPE) has completed the sale of its majority interest in EmployBridge, a provider of specialty staffing services, to The Select Family of Staffing Companies, for approximately USD410 million.
MSPE and Constitution Capital acquired EmployBridge for USD165 million in May 2011.
MSPE invested in EmployBridge in May 2011, citing strong secular trends in post-recession contingent labor usage by US companies. In September 2012, MSPE invested in Creative Circle, a Los Angeles-based provider of freelance creative talent into advertising and marketing fields, including interactive marketing, digital advertising and traditional media.
“We have focused on human capital management
Investment bank Greenhill & Co is to acquire Cogent Partners, a financial advisor to pension funds, endowments and other institutional investors on the secondary market for alternative assets.
Cogent advises such institutions on sales of interests in private equity and similar funds, as well as providing restructuring, financing, valuation and related advisory services. Cogent has advised on transactions involving thousands of limited partnership interests since its founding in 2002, and had revenues of approximately $45.8 million (unaudited) in 2014. The acquisition advances Greenhill's ambition to create the leading independent global financial advisory firm, with capabilities to advise clients on
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