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MyVideoRights, a leading UK digital rights management and monetisation company, has rebranded as Base79 and announced a GBP2.75 million funding round led by its principal investor, MMC Ventures. The Board and its existing angel investors have also participated in the funding round.
Based in London and New York, the company manages content for companies and artists including the Football Association, Mr Bean and Ministry of Sound, licensing this content to online publishers including YouTube, Hulu and Netflix. Base79 currently manages a network of content that generates over 375 million views per month.
The funding will be used to accelerate
HarbourVest Global Private Equity Limited’s estimated Economic NAV at 31 August 2011 is USD1,002.8 million, or USD11.05 per share, HVPE’s highest NAV since inception.
This exceeds the previous estimated Economic NAV peak of USD10.92 per share (recorded in May 2011), and represents a 2.9% increase from 31 July 2011 (USD10.74), a 14.5% increase from 31 December 2010 (USD9.65).
The increase from July to August was driven by increases in value for privately-held companies as the majority of HVPE’s direct and fund-of-funds holdings were re-valued to reflect 30 June 2011 results (approximately USD0.43 per share) and positive foreign currency
Jersey Finance has welcomed the news that the EU Code of Conduct Group has given its approval to Jersey’s proposed amendments to its business tax regime.
The Group met yesterday (13th September) and announced that they accepted moves made by Jersey to remove the deemed distribution and attribution elements of the ‘zero-ten’ regime – elements they had deemed harmful – in order to fully satisfy the Code’s criteria. It now remains for the Group’s decision to be ratified by ECOFIN in December, when the Polish Presidency comes to an end.
Geoff Cook (pictured), chief executive, Jersey Finance, says: “This is
David Silver is to succeed John Fordham as Head of European Investment Banking (EUIB) at Baird, an employee-owned, international investment banking, private equity, wealth, and asset management firm. Fordham will transition to the newly created position of Chairman of Baird International.
Silver will oversee all of EUIB in addition to his current role leading the firm’s Business Services banking practice in Europe. Fordham will work across the firm, further developing the firm’s presence globally, extending Baird’s platform to additional international clients and exploring opportunities in new geographies across the globe.
The leadership changes, which will take full effect January
Private equity firm GTCR has submitted a proposal to acquire Fundtech, a leading provider of transaction banking software and services to financial institutions, for USD23.33 in cash for each Fundtech ordinary share.
GTCR intends to combine Fundtech and BankServ, a GTCR portfolio company, creating a global leader in the growing market for payments and banking technology delivered to financial institutions and corporations.
Fundtech’s Board of Directors has determined that the GTCR Proposal constitutes a “Company Superior Offer” under Fundtech’s previously announced merger agreement with S1 Corporation (S1). Fundtech has delivered the required notice to S1 of its intent to
Monroe Capital has funded a USD22.5 million unitranche facility and an equity co-investment in West World Media, LLC. Monroe Capital’s facility was used to refinance existing debt and provide growth capital.
West World Media, LLC supplies movie theatre showtimes, movie content, advertising services, marketing services, web-hosting services, and local event data on a global basis. West World Media’s customer base consists of a diverse group of leading global search engines, mobile applications, movie theaters, and newspapers.
Jeremy VanDerMeid (pictured), Managing Director at Monroe Capital, says: “We worked closely with Brett West and his entrepreneurial team to structure a creative one-stop
The Aureos South-East Asia Fund II (ASEAF II) has completed an MBO transaction of a leading Indonesian engineering company, ODG Wormald Indonesia (ODG).
ASAEF II, which is currently fundraising with a target of US$250m, is a regional private equity fund focusing on investments in South East Asia, particularly Indonesia, Thailand, Vietnam, the Philippines and Malaysia. Aureos has offices in all 5 countries, as well as Singapore, staffed by senior investment teams with extensive regional private equity experience.
ODG is the leading mechanical and engineering contractor in Indonesia to offer a full range of mechanical and electrical and fire systems services
The Alternative Investment Management Association (AIMA), the global hedge fund association, has responded to a consultation by the European Securities and Markets Authority (ESMA) on how the Alternative Investment Fund Managers Directive (AIFMD) should be implemented.
ESMA, which is responsible for advising the European Commission on the implementing measures for the AIFMD, sought feedback on a consultation paper it circulated in July.
AIMA said many of ESMA’s draft proposals were “measured”, but several major areas of concern remained, including proposals relating to depositaries, leverage, valuation, transparency and liquidity management. So-called third country (non-EU) issues are covered by a separate
Newly-launched, location-based mobile gaming start-up Red Robot Labs has raised USD8.5 million in funding led by Benchmark Capital. Benchmark’s Mitch Lasky will be joining the company’s board of directors.
Shasta Ventures and existing investors Rick Thompson, co-founder of Playdom, and Chamath Palihapitiya, former Facebook executive, also participated in the Series A funding round. The company will use the financing to accelerate studio growth, propel development of their R2 location gaming platform, build third party studio partnerships, and deliver the most sophisticated and engaging games for mobile devices.
"Benchmark is focused on helping great entrepreneurs build successful companies," says Mitch
Global alternative investment firm Investcorp has appointed Savio Tung as Chief Executive Officer, North America.
Tung returns to a full time role at Investcorp, where he was one of the founding partners and served from 1984 until 2009, from 1995 until 2000 as Head of Corporate Investment, North America and from 2001 to 2009 as Head of Technology Investment. From 2009, Tung served as an advisor to Investcorp and as Chairman of its Technology Investment Committee, combining this with a number of board positions, including a role with Bank of China, Hong Kong Limited.
He re-joins as Investcorp, last month,
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