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DNAnexus, a DNA data management and analysis platform, has secured USD15 million in second-round funding, led by Google Ventures and TPG Biotech.
Additional participants in this round of financing include institutional investors First Round Capital, SoftTech VC, K9 Ventures, and Felicis Ventures. The new capital will help further DNAnexus’ mission to unlock the potential of DNA-based medicine and biotechnology by creating scalable and collaborative data technologies. The company intends to use the funds to expand hiring and accelerate product development.
With this investment, Krishna Yeshwant, MD and partner at Google Ventures, and Geoff Duyk, partner and managing director at TPG
Candescent Partners, a Boston-based private equity firm, has acquired SoftBase, a provider of DB2 z/OS coding, testing and deployment tools that accelerate application development.
Candescent led the transaction with co-investors Harbert Mezzanine Capital, Bush O’Donnell Capital Partners, and Brooke Private Equity Associates. SoftBase is Candescent’s fourth platform acquisition and second in the software sector.
SoftBase Systems is recognised as a leading provider of application testing and tuning solutions for IBM’s DB2(R) database utilising the OS/390(R) and z/OS(R) operating systems. SoftBase’s solutions enable its customers to build and maintain high-quality DB2 applications that run as reliably and cost-effectively as possible. As
Private equity fund manager Platina Partners LLP (Platina) has successfully refinanced its Archangel project with debt funding from Commerzbank.
Archangel is a 9.5MW solar photovoltaic project in Puglia, southern Italy. This is the second time that the Platina and Commerzbank have worked together, as Commerzbank provided part of the debt financing for Platina’s 82MW Orites wind farm in Cyprus in 2009.
The refinancing was negotiated by Riccardo Cirillo, partner at Platina Partners LLP and the head of Platina’s Milan office, who has responsibility for the firm’s ongoing investment strategy in Italy.
Cirillo says: “The difficulties that asset developers and others
Northern Light Venture Capital (NLVC), a China-focused early stage venture capital firm, has closed Northern Light Venture Fund III LP, (together with its parallel funds, (NLVF III), with USD400 million in committed capital. The capital was committed by leading institutional investors from the United States, Europe and Asia.
NLVC plans to continue its focus on information technology, consumer services and clean-technology opportunities, as well as expand its interest in China’s fast-growing healthcare sector. Through two existing US dollar funds and two Renminbi (Chinese onshore) funds, the firm has invested in more than 60 portfolio companies.
Portfolio companies include Spreadtrum Communications,
Former Treasury and Economic Development Minister Allan Bell has been appointed as the new Chief Minister of the Isle of Man, effective Tuesday 11 October, 2011).
The Ramsey MHK was elected to the position by Tynwald, the Island’s parliament, of which he has been a member for 27 years. He takes over as leader of the Manx Government from Tony Brown, who has retired from politics after a long and distinguished career.
Bell (64), a longstanding leader of efforts to reform and update IoM financial sector legislation, including fund regulation and to promote the industry internationally, was first elected to
South Bend Controls is a leading designer and manufacturer of highly engineered, solenoid-based components used in critical applications serving the aerospace and defence, industrial and medical markets. The business will operate within Curtiss-Wright’s Motion Control segment.
"The acquisition of South Bend Controls by Curtiss-Wright validates the company’s unique strength in highly engineered valves and regulators and brings together two companies with outstanding histories in the aerospace industry," says Michael F Pound, CEO of Koontz-Wagner Holdings. “I want to thank Peter Hutchings, the General Manger of South Bend Controls, and his excellent team for their many years of service to Koontz-Wagner.”
Gresham Private Equity-backed ICR Integrity has acquired asset integrity specialists North East Corrosion Engineers Ltd (NECE Ltd), in the first phase of the group’s expansion since its formation in July.
ICR Integrity was formed in July 2011 following the buy-out of Walker Technical Resources, the Aberdeen based specialist in engineered composite repairs for the worldwide oil and gas industry. Gresham’s investment commitment funded both the buy-out and the planned acquisition strategy, with acquisition debt facilities provided by HSBC. The acquisition of NECE is the first in an ambitious plan in the integrity, corrosion and repair niche, involving both acquisitions and
Gardner Denver has entered into a share purchase agreement with the holders of 100 per cent of the outstanding shares of Robuschi S.p.A., a market leading European manufacturer of blowers and pumps, for a purchase price of approximately EUR152 million (USD207 million at current exchange rates).
Robuschi is headquartered in Parma, Italy, and has annual revenues of approximately EUR70 million (USD95 million). Its shares are currently held by an investor group led by Milan, Italy based Aksia Group.
Robuschi is a leading European producer of blowers, pumps and associated packages. These products are used in a wide variety of end
China Science and Merchants (CSM) has today launched a global capital raise for its first international US Dollar denominated fund which will make private equity investments in China and has appointed EME Capital as global co-ordinator for the fundraising. CSM is initially targeting USD1 billion for this fund.
Professor Shan XianShuang, Chairman and Founder of CSM, says: “This fund will allow, for the first time, international investors to invest alongside CSM’s RMB denominated funds on a pari passu basis. CSM’s respected management team and Chinese identity will mean that high quality Chinese private equity investment opportunities will now be available
By Ashley Le Feuvre and Kate Anderson – One of the principal characteristics at present of the private equity sector in Jersey is a much longer lead time for investment than a few years ago, which has slowed up the fundraising process. Clients are conducting much more thorough due diligence than in the past before taking investment decisions, and as a result there can be a long period between a promoter coming forward with an investment proposition and the structure actually being launched.
This environment favours more than ever established fund managers, and to a lesser extent, spin-offs from other
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