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XConnect, a specialist in Federation-based next generation interconnection and Registry services, has secured USD10m of equity funding from Young Associates, the London-based private investment firm headed by Lord Young of Graffham, and existing investor Crescent Group.
This significant cash injection will enable XConnect to grow its portfolio of products and services, expand its customer base and enter new markets.
Through its suite of Federation-based Interconnection and ENUM Registry services, XConnect offers solutions to help service providers deliver IP voice, video and data communications on a cross-network basis while improving service quality and reducing costs.
XConnect operates Federations in
Shareholders of Sprint Nextel have voted overwhelmingly to approve a bid by Japan’s SoftBank to acquire a controlling 78 per cent stake in the company for USD21.6bn.
The telecom deal for America’s third largest wireless carrier is also the largest outbound investment ever by a Japanese company. The transaction is expected to close on 9 July.
Law firm Morrison & Foerster has been advising SoftBank since the deal was announced last November, including helping SoftBank best DISH Network in its rival bid for Sprint. DISH formally dropped its pursuit in recent days. Next up is Sprint’s own bid for
Lyceum Capital has expanded its investment team with the appointments of Matthew Norrington and Thomas Alldred as the UK lower mid-market growth investor prepares to deploy its third fund.
Norrington joins as an investment director from LDC where he spent over five years originating and executing buyouts with enterprise values (EV) of between GBP5m and GBP100m, as well as supporting the development of the firm’s portfolio companies. He worked on nine transactions during this time, including the buyout of mechanical engineering specialist PJD and exit from specialist retailer American Golf.
In 2006 Norrington joined Control Risks Group as
Cayman directorship services company International Management Services (IMS) has added Cary Marr to its fund fiduciary team.
Marr, who joins IMS from Meridian Fund Services, an independently-owned hedge fund and private equity fund administrator, is well versed in the governance and regulatory issues facing hedge funds and has been providing non-executive directorship services for the past ten years.
“I’m thrilled to become a part of the IMS fiduciary team as I have always viewed IMS to be one of Cayman’s premier providers of hedge fund directorship services,” says Marr.
Gary Butler, managing director and legal counsel for
Karen Eliadis has joined venture capital firm Lux Capital as its chief financial officer based in Palo Alto.
Eliadis (pictured) was most recently the chief financial officer of BlueRun Ventures, a venture capital firm with more than USD1bn in assets, based in Menlo Park.
She was previously director of finance of Sofinnova Ventures, a Menlo Park-based technology and life science venture capital firm. Before joining Sofinnova, Eliadis was managing director, finance for a private equity firm and held senior finance positions at several large organisations.
Eliadis is actively involved in the venture community, leading as chair and
With less than a month to go until the Alternative Investment Fund Managers Directive (AIFMD) implementation deadline, many fund managers are gearing up for the new regulatory restrictions which the directive will bring to the European fund market.
One issue that managers of Alternative Investment Funds (AIFs) will face is the choice of domicile for investment funds. Traditionally, AIFs were domiciled in an offshore jurisdiction but many believe that the AIFMD will fundamentally affect this traditional choice of domicile for an AIF.
A forum to discuss this concern, which has been organised by IFI Global and co-sponsored by
Specialist executive search and intelligence consultancy Armstrong Craven has secured a GBP3.5m investment from ISIS Equity Partners to complete a management buy out.
The deal, led by Armstrong Craven’s founder Sue Craven, chief executive Matthew Mellor and chief operating officer Rachel Davis, will establish the business as a separate entity from its former parent company Work Group plc.
The deal was advised on by the Manchester office of Clearwater Corporate Finance.
“This investment will support Armstrong Craven as it continues to expand its international footprint by targeting new geographies and opening international offices in North America and
James Briggs, a supplier of aerosols and speciality chemicals, has been acquired by its management team in a deal backed by Endless, an investor in non-core assets and special situations.
The transaction sees Jim Sumner, an experienced chief executive in the manufacturing sector, join James Briggs as executive chairman. Sumner previously ran Optare, the AIM-listed bus manufacturer, and Leyland Trucks, part of PACCAR. He will support James Briggs’ existing management team of managing director Mark Lyth and finance director Simon Tuley.
James Briggs employs nearly 200 staff on two manufacturing sites in Royton and Chadderton near Oldham. The
Edmond de Rothschild Investment Partners’ BioDiscovery 4, its fourth fund dedicated to life sciences, has made its second investment through the series B financing round of Complix, which it co-leads with GIMV.
Complix, formed in 2008, was founded in Hasselt, Belgium. Edmond de Rothschild Investment Partners led alongside GIMV the Series B round financing of EUR12m which will be invested in developing a first set of therapeutic Alphabodies to treat cancer and autoimmune indications and to further develop and validate the company’s unique Alphabody platform.
Complix is developing Alphabodies, a transformative biotherapeutic platform with the ability to modulate
Atlantic‐Pacific Capital, a privately‐owned placement agent and advisory firm, has held the oversubscribed final closing of Clearview Capital Fund III with USD325m of capital commitments.
The fund, managed by Clearview Capital, received support from a broad group of institutional investors including endowments, foundations, pension programmes, consultants and high‐net‐worth family offices.
Formed in 1999 by Jim Andersen and Cal Neider, Clearview has pursued the same investment strategy since inception while establishing itself as a specialist in acquiring and developing companies with less than USD10m of EBITDA. With offices in Old Greenwich (CT), Chicago and Los Angeles, the firm uses
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