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Accel Partners has announced the closing of Accel India III, a USD155 million fund for seed and early stage investments in India.
The fund has attracted top tier institutional investors from North America, Europe and Asia, and will focus on opportunities in Internet services, digital media, SaaS and enterprise technologies, mobile, healthcare and education, and other high-growth sectors. Accel currently has 34 portfolio companies in India.
"Accel appreciates the support for this fund from our greatly valued and longstanding investors. Our core strategy in India will continue to be the same: to be the first investment partner of choice for
The private equity group HgCapital is in preliminary talks to re-purchase the main part of Iris Software Group, four years after selling it to Hellman & Friedman. The deal is valued at GBP425 million, although sources have stressed that a possible deal is still several weeks away, and is by no means certain.
Richard Moulton (pictured), head of private equity at international law firm Eversheds, says: “News that HgCapital is in talks with its previous investee company, Iris Software Group, is less surprising than many would at first think. Given the scarcity of high quality businesses for sale at the
Panda Power Funds has held the final close of the Panda Power Generation Infrastructure Fund with USD420 million in capital commitments.
The Panda Fund plans to develop or acquire US natural gas-fuelled power plants and utility-scale solar projects in select states. Investors include large public and corporate pension plans and other institutional investors.
"We greatly appreciate the trust and confidence our investors have placed in us," says Robert Carter, founder and managing partner of Panda Power Funds. "Their investments represent charitable organisations, pensioners and teachers. We look forward to working on behalf of our partners who represent them and to
It looks like the market has reacted with some cheer to the news that Silvio Berlusconi has stepped down as Italian Prime Minister with his successor Mario Monti asked to form a new government following approval of a reform package by the Italian parliament on Saturday, says Anthony Gillham (pictured), portfolio manager at Skandia Investment Group (SIG)…
Italian 10 year government bond yields had hit around 7.5% last week, levels that were said to have triggered bail outs in other peripheral European markets, but on Friday dropped to around 6.5%. Risk assets are firmer as a result.
While the cheer
Phoenix Equity Partners, a UK mid-market private equity investor, has funded an additional GBP12 million to its portfolio company edif Group to complete the acquisition of NDE Global Technical Services GmbH and its subsidiaries (together NDE), from its private owners.
NDE’s founder shareholders and management team will become shareholders in edif Group.
NDE’s services include vendor inspection, expediting, project management, mill pipe surveillance, project staffing and outsourced quality assurance. NDE’s network of qualified field inspectors supports customers, principally in the oil and gas sector, to ensure that major capital projects are completed to specification and in a timely manner.
NDE
Independent venture capital firm, Panoramic Growth Equity (PGE), has secured a GBP1m investment in Concorde Solutions Limited, a multi-award-winning software asset management company based in Reading.
Funding from PGE’s Panoramic ECF1 will be used to help Concorde, which turned over GBP1.8m in 2010 – up 140% YOY, launch a new SaaS product in 2012 into the data centre and cloud computing markets and expand its professional and managed services to markets worldwide.
David Wilson, partner at PGE, says: “We are delighted to have acquired an equity stake in Concorde, a young and dynamic IT services company. Concorde has all the
Mootwin, editor of a platform for the creation of mobile applications in SaaS mode or under license, has completed its second round of fundraising to support its development projects in France and abroad.
Naxicap Partners and Seventure joined existing investors Rhône-Alpes Création, Expansinvest, Crédit Agricole Développement, Héléa Financière and Teamgroup Investment, in the latest round of fundraising.
“This second round of fundraising with solid financial partners will be used to support and step up growth in France and abroad,” says Claude Lemardeley, CEO and Co-Founder of Mootwin.
“We have decided to invest in Mootwin because it developed a specific technology
In light of the current fiscal and monetary concerns that are gripping the minds of investors around the world, Institutional Asset Manager asked the heads of some of the world’s leading asset managers to share their thinking on portfolio management trends post-Lehman and beyond 2011 in concise fashion. Nick Gartside (pictured), International CIO for Fixed Income, JP Morgan Asset Management, responds:
"2009 to 2010 was about capturing the generational opportunity in fixed income credit; both investment grade and high yield bonds sold off to very attractive levels. Many institutional investors grabbed this opportunity.
"2011 has been characterised by an anaemic economic
Intel Capital, Intel Corporation’s global investment and M&A organisation, has unveiled a USD100 million Intel Capital AppUp Fund.
The fund will invest in software tools and services companies developing innovative applications and digital content for the mobile and PC ecosystem available at the Intel AppUp centre, Intel’s convenient, personalised and secure app store for netbooks, consumer laptops and Ultrabooks.
The first two investments include Urban Airship, a mobile platform-as-a-service company and 4tiitoo, a German OSV and tablet device developer. The announcement was made at the 12th annual Intel Capital Global Summit.
“The explosion of connected computing devices has created
Marketo, the fastest-growing provider of Revenue Performance Management (RPM) technology, has secured USD50 million in new venture financing. Battery Ventures led the round, with existing investors Institutional Venture Partners, InterWest Partners, Mayfield Fund and Storm Ventures also participating.
In just five years since its founding, Marketo has delivered a proven business solution for any company looking to accelerate predictable revenue growth. Marketo will use the infusion of new capital to further its aggressive growth strategy.
"Because of our industry-leading growth in revenues and market share, Marketo had many options for capital. To stay focused on growth, our best choice was
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