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Forbion Capital Partners, the Dutch life sciences venture capital firm, has led the expansion financing of the Series A round of Curetis AG together with Roche Venture Fund, CD-Venture and management.
Curetis has developed a diagnostics platform to identify the pathogen that causes a patient’s pneumonia and which antibiotic resistance patterns are present within a few hours. It will allow physicians to diagnose the cause of the infection faster and commence the appropriate targeted antibiotic regimen immediately in critically ill patients. The platform is very robust and versatile and can be used for other molecular diagnostics applications as well.
Matrix Private Equity Partners has agreed to sell portfolio company App-DNA Group Limited for USD92 million (c. GBP58 million) to Citrix Systems Inc, subject to final contract.
Total proceeds from the exit will be approximately GBP16.4 million for the Matrix advised fund, The Income & Growth VCT plc. This represents a return of approximately 32 times the fund’s original investment.
App-DNA is a software company whose products enable blue chip customers around the world to save time and money when changing operating systems or virtualising IT applications. App-DNA’s products are in high demand following the launch of Windows
‘The time is now’ for private equity investment in Africa and ‘the continent is ready’ were the messages from the third annual Private Equity in Africa Leadership Summit, co-hosted by the Emerging Markets Private Equity Association (EMPEA and the Financial Times publication, This is Africa.
Over 300 delegates from 30 countries were addressed by speakers including Babatunde Raji Fashola, Governor of Lagos State; Tendai Biti, Minister of Finance, Zimbabwe; pensions representatives from Ghana, Botswana, Kenya, and Nigeria; regulators from South Africa and Brazil, as well as leading African fund managers and global institutional investors. Sharing the sentiment in Governor Fashola’s
Private investment funds advised by Monarch Alternative Capital LP have agreed to invest USD50 million of equity in Veritas Financial.
Mark Sunshine, co-CEO of Veritas Financial, says: "We are extremely pleased to bring our highly experienced team to our new platform, Veritas Financial. Many private and public companies today are facing complex financial challenges that require the expertise of a specialist who can structure lending solutions to meet their needs. Our team has loaned over USD5 billion to companies in a wide variety of industries during the past several economic cycles."
Mike Perlman, co-CEO, says: "We look forward to continuing
Jones Day has advised founder Sam Phillips and long-standing client Alcuin Capital Partners on the exit of their investments in Glide Technologies Limited, a leading London-based software-as-a-service provider specialising in corporate communications and reputation management solutions. The company was acquired by NASDAQ OMX Group Inc.
The transaction was led by private equity partner James Goold, with assistance principally from Tom Hussey and Saffron Finch (Corporate), Blaise Marin-Curtoud and Anthony Whall (Tax) and Jessica Billington (Employment).
Goold says: "This has been an extremely busy year for Alcuin and we are glad to have been able to help them with yet another
Northern Trust has appointed Robert P Morgan to lead a new unit, Northern Trust Alternatives Group, formed to develop and manage all alternative investment products, including hedge and private equity funds of funds, for institutional and personal clients.
Northern Trust Alternatives Group brings together portfolio management, product, sales and service teams to build on the private equity and hedge fund solutions that have been part of Northern Trust’s manager-of-managers business. Morgan, who had previously been Director of Private Equity, oversees approximately USD3.5 billion under management or advisory as Managing Director of the new group.
"Alternative investment products have experienced substantial
A study of over 800 venture capital backed companies in Europe has found that independent venture capital is demonstrably more effective than state-backed or corporate VC.
The aim of the VICO project, carried out by a group of business schools and universities from the UK, Belgium, Italy, France, Spain, Germany, Finland and Italy, was to develop an in-depth understanding of how companies backed by venture capital evolve over time and how the diversity in the European VC market has an impact on that development.
The key finding was that, although venture capital invariably has a positive impact on
Cambridge Consultants, creator of a stable of successful high-tech start-ups, is to spin out of Aveillant with venture investment from DFJ Esprit and AIFCL, the wind industry fund.
Aveillant’s technology will remove the concerns about aviation safety and air defence that are holding back growth in the wind energy industry. Wind turbines in motion can mimic aircraft on an air traffic controller’s radar screen. Aveillant will provide airfields with the accurate radar data needed to eliminate the potential confusion this could cause, without any resulting loss or compromise in performance. The need is urgent; currently 66% of all wind farm
Rockbridge Growth Equity, LLC, a Detroit-based private equity firm that invests in financial and business services, consumer-direct marketing, and sports, media and entertainment industries, has led the acquisition of Purchasing Power, LLC, a niche e-commerce business that provides employers a unique benefit to offer their employees: the opportunity to leverage their paycheques to buy "big ticket" consumer goods regardless of credit score.
Founded in 2001, Purchasing Power’s web-based business enables a qualified work force the ability to purchase an assortment of items, such as brand name computers, electronics and other expensive items via direct payroll deduction.
"Purchasing Power is
Following the recent close of its renewable energy EIS fund Elara I, Future Capital Partners (FCP), the GBP6 billion alternative investment boutique, has launched a new EIS fund that will give investors another chance to capitalise on the firm’s green energy strategy.
The new EIS fund, Elara II, targets annual average returns of 7% on a post tax basis and will be adopting a conservative investment strategy focused on lower risk opportunities in the renewable energy sector. Following Elara I Fund’s raise of GBP2 million, the new fund will aim to raise at least GBP4 million, and is expected to
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