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France Télécom-Orange and Publicis Groupe plan to launch a new venture capital fund that will finance and develop budding entrepreneurs in the digital economy, particularly in France and the European Union, building on the sector’s potential for spectacular creativity and growth. It remains subject to the approval of the relevant authorities.
France Télécom-Orange and Publicis Groupe are committed to jointly investing 150 million euros in the new fund. In addition to their respective commitments, the two sponsors intend to invite other investors to join them, to reach a target of EUR300 million.
The fund’s main targets for investment will be
The overwhelming majority (84%) of private equity professionals believe their firm will be engaged in fund raising activity over the next 12 to 24 months, according to a new study by Investec Fund finance.
However, underlining the increasingly competitive fundraising environment, on average respondents predicted that 30% of fund raisings by UK and European based GPs will fail to get off the ground with one in five suggesting the percentage could be at least 40%.
Despite the level of competition for capital, almost one in four (39%) of GPs representing firms with fund sizes ranging from under GBP250 million
Mid-market private equity firm LDC has exited its investment in Volvox Group, a leading supplier of auto electrical products and industrial consumables – through a sale to Elysian Capital.
Volvox, which is headquartered in Leeds, designs, sources and distributes a wide range of innovative products for the private and commercial vehicle markets, including lighting, camera systems, car accessories, air compressor, portable power products and industrial consumables. Its customers include vehicle manufacturers as well as the UK and European after-market, where it suppliers major retailers and distributors.
LDC originally backed the GBP12million management buyout of Volvox in 2005 with a
Gogobot has completed a USD15 million round of funding led by Redpoint Ventures, with participation from Battery Ventures and Michael Arrington’s CrunchFund. Gogobot will use this new financing to expand its global footprint through marketing, partnerships, and outreach.
Gogobot allows users to harness the power of their social networks to exchange trusted travel advice and share trip plans and rich visual travel memories.
Since launching last November users have shared more than 2 million places with their friends on Gogobot. The user base has grown 10 fold over the last year, making it the largest social travel site on the internet. This funding comes on the
The signing of Jersey’s Tax Information Exchange Agreement (TIEA) with India is a welcome development in the island’s progress in establishing closer commercial ties with the country, according to Jersey Finance chief executive, Geoff Cook.
“For the last five years or so Jersey Finance has been building its links with India by hosting visits in which we showcase our services and highlight the quality of our regulatory regime, says Cook. “Senior politicians and regulators have joined us on some of our trips to meet formally with Government officials and regulators in India. Earlier this year, Jersey Finance cemented its presence
Nicola Marinelli (pictured), portfolio manager at Glendevon King Asset Management, on the ECB’s decision to cut interest rates, the ongoing difficulties in Greece and potential problems in Italy…
Exactly when the major equity markets were expected to officially enter a bear market, they posted one of the strongest months ever and credit markets followed suit. Then the widely announced and expected European Grand Plan was finally announced with a lot uncertainties and lack of details. Anyway it was well received by the markets, most probably because it was the proof that policy makers had shifted from the denial period
Today’s uncertain global economic climate is the biggest challenge confronting the global PE industry, according to the findings of Grant Thornton’s annual private equity (PE) report sponsored by GTI titled: A force for growth.
US respondents in the study meanwhile, cited tough fundraising conditions, increased competition for deals, a looming industry shakeout and stricter regulatory requirements as major developments occurring in the North American (US and Canada) deal market.
The study, which is based on interviews with 144 buyout firm executives worldwide, revealed that successful firms are likely to have addressed the need to grow their portfolio companies by relying
MGPA, the independent private equity real estate investment advisory company, is pleased to announce the first close of MGPA Europe Fund IV (EF IV) with commitments of up to USD100m. The first close is comprised of commitments from investors in MGPA’s previous fund, MGPA Europe Fund III.
EF IV will build on the success of MGPA’s previous funds and focus on the UK, France, Germany and Poland to take advantage of current market dislocations and recapitalisations. EF IV aims to access real estate at attractive prices and manufacture core products in high demand from tenants and institutions due to the
CDC, the UK’s development finance institution (DFI), has appointed Diana Noble as its new Chief Executive Officer. Following the announcement of a new business plan in May, she will lead the company as it places an increased emphasis on the poorest regions of sub Saharan Africa and South Asia.
Noble has had a successful career in international investment and was most recently Executive Vice President at the Clinton Foundation Health Access Initiative. In this role she was responsible for teams supporting the government scale-up of access to HIV/AIDS treatment in 43 countries including much of sub Saharan Africa.
Before working
Private equity (PE) and venture capital (VC) fundraisings, investments and divestments have grown over the past year, according to the 2011 Yearbook, an annual report of the primary activities of Australian PE and VC firms for financial year published by the Australian Private Equity and Venture Capital Association (AVCAL).
The amount invested by PE and VC fund managers in Australian companies is the highest in the past three years at AUD3.6 billion dollars, with over 40% invested into one deal (Healthscope). The number of companies acquired in FY2011 at 150 is the lowest in recent years, reflecting greater investment selectivity
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