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Teralys Capital has made an investment of CAD65 million in TVM Life Science Ventures VII ("TVM LSV VII" or the "Fund"), which closed on an initial size of CAD150 million. The Fund will focus primarily on early stage drug development and life sciences company opportunities.
The investment by Teralys Capital, together with investments by Eli Lilly and Company (NYSE:LLY; "Lilly") and other partners, enables a new investment model in Québec, which will involve the formation by the Fund of single therapeutic asset companies and benefit the entire local life sciences ecosystem of researchers, entrepreneurs, business partners and service providers.
TVM
Lighting Science Group Corporation has completed the final round in a series of private placements totalling approximately USD140 million in equity funding and commitments, of which approximately USD88 million is new equity funding and commitments and approximately USD52 million represents the conversion of certain bridge financings occurring since the fourth quarter of 2011.
The proceeds from the new equity funding and commitments will be used to finance the Company’s growth, expand its manufacturing capabilities, and enhance its leadership position in developing innovative energy-efficient LED lighting products for consumer and commercial applications in both the public and private sectors. This new
Phoenix Equity Partners, a UK middle-market private equity firm, has invested in CloserStill, a business-to-business exhibition organiser, in a transaction which values the business at circa GBP25 million.
This is the sixth investment from Phoenix’s GBP450 million fund, which was raised in 2010, and is a partial exit for NVM Private Equity ("NVM"), which delivers an excellent return on their original investment.
Phoenix is backing the existing management team of CloserStill, led by Andy Center (CEO), Phil Soar (Chairman), Phil Nelson and Michael Westcott.
Phoenix’s investment, together with an ongoing investment by NVM, marks an exciting new phase in CloserStill’s
Figures released by CDC Group plc, the UK’s development finance institution, show that it now finances more businesses than ever in its 64-year history.
Yet despite increasing optimism about economic prospects in sub-Saharan Africa and South Asia, CDC says many entrepreneurs in poor countries still lack access to patient, long-term investment.
In 2011, CDC backed 1,126 private sector businesses in 74 developing countries (up from 930 in 2010). CDC continued to get its capital to work, with new investments in businesses standing at GBP364m for the year.
Businesses backed by CDC capital also showed increasing development impact by employing more
Cell Therapeutics has entered into an agreement to sell, subject to customary closing conditions, USD40 million of shares of its Series 15 Convertible Preferred Stock and warrants to purchase shares of its common stock (and the shares of common stock issuable from time to time upon conversion of the Series 15 Convertible Preferred Stock and exercise and exchange of the warrants) in a registered offering to an institutional accredited investor (the "Initial Purchaser") in two USD20 million tranches (the "Offering").
CTI plans to use the net proceeds from the Offering to finance the purchase price and related fees and expenses
Investec Growth & Acquisition Finance (GAF), part of Investec Specialist Bank, has provided LDC with a debt financing package to support the management buy-out of Ocean Outdoor (Ocean) from Smedvig Capital.
Ocean operates 28 sites across the UK and is a leading operator of digital ‘out of home’ advertising sites specialising in iconic digital advertising sites including the IMAX, a number of Westfield shopping centre sites and Two Towers West on the Hammersmith flyover.
LDC and Ocean aim to expand their portfolio of sites and to continue developing their existing portfolio of high quality sites.
Stephen White, Investec
Ogier has opened a boutique law firm in Luxembourg as it continues to expand its worldwide network.
This development is in keeping with Ogier’s strategy to provide the most innovative and comprehensive multi-jurisdictional services, through a significant presence in each of the world’s key financial markets and across all time zones.
Ogier’s Luxembourg legal practice is headed up by François Pfister who has extensive legal experience in Luxembourg with particular emphasis on investment funds, international taxation, mergers and acquisitions and corporate law. François was previously a senior partner of OPF Partners. Daniel Richards, an Ogier Group partner took a lead
While the lowest interest rates in 38 years may be providing welcome relief to the over-indebted consumer, many cash flush investors find themselves having to settle for lower income returns. According to Sean Segar (pictured), Head of Product: Nedgroup Investments Cash Solutions, in an investment environment where capital growth is likely to slow after several boom years, investors need to take yield more seriously than ever…
Losing out on 1% when interest rates were 12% was not as big a deal as forfeiting 1% of yield with call at 5% – which effectively means giving up 20% of the potential
DC Advisory Partners has appointed Jack Dessay as an Executive Director in its Technology, Media and Telecommunications (TMT) team. Bringing with him twelve years of sector experience, Dessay will join a dedicated European TMT team of twenty bankers.
Dessay’s broad advisory experience includes M&A, debt & equity raising, structured finance and restructuring advice. He joins from Deutsche Bank where he has worked for the last six years covering the TMT sector in EMEA. He spent the previous six years with Citigroup working in the TMT teams of both their London and New York offices.
Richard Madden, UK Chief Executive of
China iEducation Group, 40 per cent owned by investment group China Private Equity Investments, has signed a key strategic co-operation agreement with the State-run Hunan Centre of Educational Technology (HCET) in China’s Hunan Province.
The deal brings annual licence fees and a brand-building relationship. It also means China iEducation has become one of the largest suppliers of online educational content and software for HCET’s RMB10 billion (about GBP1 billion) Modern Distance Education Project for Rural Elementary and Secondary Schools.
More than 26,000 primary and middle schools, often in remote rural areas, will gain access to the China iEducation educational networking
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