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Venture capital fund manager Mercia Fund Management (MFM) has invested GBP150,000 in Oxford Genetics Ltd.
The new biotechnology company is behind SnapFast – a system that simplifies the purchase of synthetic DNA molecules (plasmids).
Dr Ryan Cawood, chief executive of Oxford Genetics, invented the SnapFast system and likens it to “Lego for DNA”.
Historically, most genetic engineering has been performed by combining pieces of DNA, gathered from a variety of sources that were never intended to fit together. This can make clinical research and drug development time-consuming, costly and often frustrating. Oxford Genetics provides all of the
A fifth portfolio company of life sciences venture capital firm Domain Associates has received funding under its investment agreement with Russian state investment corporation Rusnano.
ReVision Optics, a Southern California-based firm developing Raindrop, an inlay for presbyopic vision correction in Phase III trials, has raised USD55m in a financing in which Domain, Rusnano subsidiary RusnanoMedInvest and other investors participated.
A year ago Domain and Rusnano announced a USD760m partnership whereby Rusnano agreed to invest along with Domain and Domain portfolio investor syndicates. In addition, the partnership fosters transfer of technology into Russia and establishes manufacturing facilities in Russia
Anderson Strathern’s energy, renewables and cleantech team has advised on the first Green Investment Bank funded project in Scotland, a GBP1.2m biomass boiler project at the Tomatin Distillery near Inverness.
The bank is contributing GBP577,000 via its GBP50m Energy Saving Investments portfolio, managed for the bank by London-headquartered fund manager Equitix. The remaining GBP600,000 is coming from private investors in the Equitix Energy Efficiency Fund.
Led by partner Gillian Anderson (pictured) and senior associate Martin Whiteford, the team at Anderson Strathern advised the English firm Bevan Brittan (solicitors for the Distillery’s development partner Balcas) on technical aspects of Scots law
European private equity fund of funds Advanced Capital has become an investment manager signatory for the United Nations-backed Principles for Responsible Investment (UN PRI).
PRI is a global network and initiative for institutional investors to commit to adopt, implement and promote best practice in responsible investment.
Robert Tomei (pictured), chairman of Advanced Capital, says: “The UN PRI framework will allow us to join other global investors in a collective pursuit, to further align investment activity with the broader interests of society. It is our firm belief that strong governance and corporate responsibility agenda will enhance investment opportunities in
The AltExchange Alliance, a private equity industry group launched in May 2013, has seen significant growth in membership and key progress in developing the industry’s first global data standard for sharing alternative investment information.
Several leading firms from the GP community have joined the Alliance in the last two months. The new membership further demonstrates the need for a global data standard to enable efficiency, accuracy and transparency across the alternative investment industry.
The following firms have joined the group: Aberdeen SVG Private Equity, Apollo Global Management, The Carlyle Group, CVC Capital Partners, Encore Funds, Franklin Park, Lupton Company,
Venture capital investment into European companies experienced a quarter over quarter increase, while exits for European venture-backed companies improved on Q1 2013.
However, during the first half of 2013, initial public offering (IPO) and merger and acquisition (M&A) activity declined in contrast to the same period in 2012.
A total of 12 European venture capital funds accumulated EUR890m in Q2 2013, an increase of 17 per cent in amount raised from the prior quarter albeit with a 14 per cent drop in the number of funds.
In contrast with Q2 2012, the number of funds fell by
Darwin Private Equity has completed the management buyout of Esendex, a provider of mission-critical application-to-person SMS services to businesses, in a deal worth GBP11m.
Esendex’s services are used by more than 6,500 businesses around the world to improve customer service, communicate with employees, increase operational efficiency and generate sales.
Clients include Ocado, BAA Gatwick, ASOS, Addison Lee, Dun & Bradstreet, ASDA, and Virgin Media. Esendex offers a combination of web-based tools and the ability to provide clients with direct connectivity to their own systems through highly functional and flexible APIs.
Founded in 2001 by Julian Hucker and
New Zealand private equity investor Rangatira has acquired a 12 per cent stake in benchtop NMR and MRI specialist Magritek for a non-disclosed sum.
The transaction will strengthen Magritek’s balance sheet and enable the company to make a significant investment in its offshore sales and marketing following the launch of its new Spinsolve Benchtop NMR spectrometer earlier this year.
Magritek chief executive Dr Andrew Coy says: "Spinsolve has met with a very encouraging market response particularly from chemists in academia and industries including pharmaceuticals, food, polymers and petrochemicals. Spinsolve is a unique offering in that it provides the
Precision Engineered Technologies, a portfolio company of private equity firm Joshua Partners, has acquired Imperial Machine and Tool Company, a precision boring and machining company based in Wadsworth, Ohio near Akron.
Charles Corpening, the chairman and founder of Joshua Partners, says: "The team at Imperial has built the company into a leading provider of turning, milling, and boring of rough steel into finished parts. Imperial provides dedicated and complex machining services to long term customers in several high growth markets, including the hydraulic fracturing ("fracking") segment of the oil and gas industry and the steel industry. With sophisticated machining
Nina Tannenbaum has joined AllianceBernstein as managing director of alternatives sales and client services.
Tannenbaum will work with AllianceBernstein’s growing alternatives team to further build out its diverse product offerings as well as service the complex needs of clients to integrate alternatives into their current investment portfolios and risk profiles.
Tannenbaum will report to Joel R Stevens II, senior managing director and head of Institutional Investments.
"With so many firms today competing to build a presence in alternatives, our ability to continue to attract top talent demonstrates that our services are resonating with the industry," says Stevens.
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