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Zoove Corp has secured an investment of USD15m from existing series D investors, Rogers Venture Partners and Panorama Capital, along with additional investment from the company’s early stage investors, Worldview Technology Partners and Highland Capital.
This new funding will allow Zoove to expand through all areas of the business, with emphasis on product expansion, business development and marketing.
After securing relationships with all four major mobile carriers, AT&T, Sprint, T-Mobile, and Verizon Wireless, Zoove became the first and only organisation to offer unique vanity mobile numbers that allow brands to provide any content experience to consumers via a
Idinvest Partners, a pan-European private equity firm, has held an interim closing at EUR205m of its new investment vehicle exclusively dedicated to senior debt.
The fund, Idinvest Dette Senior, aims to surpass EUR250m by its final close, expected for the end of June 2013.
The initial investors are mainly major insurance companies. With this new fund, Idinvest Partners raises its profile in corporate finance where it currently has nearly EUR600m in assets.
The fund will finance senior acquisition debt incurred by unlisted European companies with solid fundamentals, moderate leverage and a robust business model.
“The main
A dearth of debt to support transactions hit the values being paid for private equity deals hard in the first three months of 2013, according to BDO’s latest Private Company Price Index/Private Equity Price Index (PCPI/PEPI).
The index, which compares the EV/EBITDA ratios being paid on the sale of private companies to trade (PCPI) and private equity (PEPI) buyers, showed a sharp contraction of the values paid for private equity deals of 36 per cent from 12.0 in Q1 2012 to just 7.7 in Q1 2013, its lowest point since Q4 2009. At the same time, the number of
GraphLab has closed a USD6.75m series A funding round led by Madrona Venture Group and NEA.
GraphLab is innovating on the popular open source distributed graph computation framework (graphlab.org) that is used millions of times per day to deliver recommendations through popular consumer services.
Founded by data scientist and entrepreneur Carlos Guestrin (pictured), who began the GraphLab open-source project five years ago, GraphLab is building a commercial product for applying advanced machine learning to massive graph datasets. The company is based in Seattle and will continue to actively support the open source GraphLab project.
"Data has
Domestic and foreign private equity firms investing in Latin America over the last several years are generating returns above those available in local public equity markets.
These returns have even surpassed what PE firms in developed countries have seen, according to Building vital partnerships: How do private equity investors create value?, a joint study conducted by the Emerging Markets Private Equity Association (EMPEA) and Ernst & Young. The study, now in its second year, examined the results and methods of over 70 PE exits between 2007 and 2012.
Sixty per cent of transactions in the region were sourced
Carey Olsen has provided Channel Islands-specific corporate and regulatory advice to Silverfleet Capital in its GBP50m buyout of fund administration and private equity specialist Ipes, from RJD Partners.
The firm drew on its group expertise for the buyout field in a pan-Channel Islands legal team led by partners Tom Carey (pictured) in Guernsey and Guy Coltman in Jersey with support from associates John Scanlan and David Taylor. The team established the Guernsey acquisition structure, carried out due diligence and advised on the competition law and regulatory issues that were associated with the acquisition.
Silverfleet Capital is a private
Armstrong Asset Management has received the fourth commitment of a USD20m investment for its Armstrong South East Asia Clean Energy Fund from the International Finance Corporation (IFC), the private sector investment arm of the World Bank, to add to its first close of USD65m.
The fund, a newly established, independent private-equity vehicle providing development capital to small-scale renewable energy and resource efficiency projects in Southeast Asia, is targeting a final close of USD150m by August 2013. The earlier commitments totalling USD65m had come from two European development finance institutions, GEEREF and DEG, and an Asian-based corporation.
Melissa Kang,
Polaris Private Equity, a Danish/Swedish mid-market private equity investor, has acquired HTC Sweden, a developer and manufacturer of professional floor grinding systems and floor solutions.
Polaris has acquired the company from Håkan and Gunn Thysell, who founded HTC in 1987 and have remained majority owners with a 60 per cent stake. 3i Group and former management, who held 40 per cent, have also sold their interest in the company to Polaris, in what is the firm’s sixth platform investment since the start of 2012.
Headquartered in Söderköping, Sweden, HTC has been growing rapidly in recent years, driven by expansion
Grotech Venture has closed its eighth fund, Grotech Ventures II (GV II), with USD225m in committed capital.
The fund was oversubscribed by more than 10 per cent, and was raised from both existing and new investors. GV II brings Grotech’s total capital under management to USD1.3bn across all funds.
The approach for GV II will be consistent with Grotech’s core strategy. The firm typically represents the first institutional money raised and, initially, invests smaller amounts of capital. Grotech continues to invest as the company grows. As part of its strategy, Grotech forms top-tier industry syndicates with other investors
Fund administration company Apex Fund Services has appointed David Brown as the new managing director of the firm’s Bermuda office.
Brown has worked in the fund administration industry in Bermuda for the last 10 years.
The recent change in government together with the launch of Apex’s Emerging Manager Incubation Services, which includes free office space for emerging managers, have led to Bermuda returning to being a favourable jurisdiction for fund managers to be based.
One of Brown’s roles will be to target European and US fund managers for both their fund domicile and for the location of
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