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f-star GmbH, a biopharmaceutical company developing a new generation of antibody based products using its Modular Antibody Technology platform, has closed a EUR15 million financing. The investment was led by SR One, the corporate venture capital arm of GlaxoSmithKline.
All of f-star’s existing investors, Atlas Venture, Aescap Venture, Novo Ventures, TVM Capital, Merck Serono Ventures and MP Healthcare Venture Management, also participated in the round. As a result of the financing SR One Partner Dr Deborah Harland (pictured) and Dr Axel Polack of TVM Capital will join f-star’s Supervisory Board.
“f-star has shown that its Modular Antibody Technology platform can
Sugar Inc has completed a USD15 million later-stage round of financing led by Institutional Venture Partners (IVP), one of the premier later-stage venture capital and growth equity firms. The company’s original and consistent partner Sequoia Capital also participated in the round.
Sugar intends to use the funds for brand extensions, acquisitions, and international growth in pursuit of its goal of becoming the world’s largest media company focusing exclusively on women’s lifestyle. This round brings Sugar’s total funding to USD46 million.
Sugar is the online leader in original content, social media, and commerce targeting trendsetting women, with a global audience of
Ipes Guernsey has grown its senior operational team with the appointment of Craig Long as Client Director. Long’s appointment comes in response to the continued growth of the Guernsey business, which has taken on eight new mandates during Q1 2011 and moved into larger premises at the end of 2010.
As Client Director, Long will play a lead role in managing and developing a number of the firm’s key client relationships. He also takes on overall responsibility for client accounting and reporting matters.
“Ipes has a really strong reputation in the private equity industry and this, combined with the
New compliance requirements arise in November this year for many UK finance industry firms, including hedge fund managers, dealers, traders, stockbrokers and some financial advisers. For the first time, it will be mandatory to record mobile telephone conversations, in a bid by the Financial Services Authority (FSA) to crack down on market abuse.
Some firms had hoped that simply prohibiting employees from using their mobile phones for business-related calls would avoid the need to implement mobile call recording solutions, but at a seminar hosted by Voxsmart, in conjunction with Actiance, this approach was rejected by the FSA representative as insufficient
Following a statement from PDL International’s Sven Kuhlbrodt, in favour of alternative asset investment, Alternative Asset Analysis (AAA) partner, Anthony Johnson, has added his support for this investment approach.
"I strongly agree with Sven Kuhlbrodt’s comments about diversifying a portfolio to minimise risk," says Johnson. "He pointed out that as well as diversifying a portfolio, investing in alternative assets, such as forestry – which do not typically follow the performance of traditional financial markets – is a sensible additional strategy during these particularly volatile times."
Both Kuhlbrodt and Johnson believe that the recent political turmoil in the Middle East and
The Isle of Man has signed a Tax Information Exchange Agreement (TIEA) with Mexico. The TIEA was signed by Mexico’s Minister of Finance and Public Credit, Ernesto Javier Cordero Arroyo, in Mexico City on 18th March 2011 and by Manx Treasury Minister, Anne Craine MHK, in Douglas on 11th April 2011, and exchanged by post.
This is the Isle of Man’s 21st TIEA and its 25th agreement that meets the OECD international standard on tax co-operation and transparency.
Minister Craine says: “The signing of this agreement is an important step in building closer relations between Mexico and the Isle of
Jersey will become the first of the Crown Dependencies to offer Incorporated Limited Partnerships (ILPs) and to create a dedicated and distinct law for the constitution of Separate Limited Partnerships (SLPs). Both new structures will further enhance Jersey’s international appeal as a domicile for funds and other investment entities.
It was announced at the annual Jersey Finance funds conference and exhibition in London yesterday that SLPs will be able to be formed in Jersey from 20th April and ILPs from 24th May.
Heather Bestwick, Technical Director of Jersey Finance, says: ”The new Separate Limited Partnership and Incorporated Limited Partnership
International law firm Eversheds has advised NVM Private Equity Limited on its investment of GBP7.5 million of development capital into wholesaler Kitwave Limited.
Kitwave is a wholesaler of tobacco, alcohol, confectionery and soft drinks. It is one of the fastest growing companies in the North East of England, having successfully increased its turnover from circa GBP15 million to over GBP100 million since 2006. Further investment will support the company’s strategy to continue growth through consolidation.
In 1987 Kitwave was established as an acquisition vehicle set up to purchase M&M Value Limited, an established small confectionary wholesale business, which at
Carne Global Financial Services has added a senior figure in the Irish funds industry to its growing list of experienced independent fund directors, with Mary Murphy joining the firm as a Managing Director, Alternatives.
Murphy, who will be based in Carne’s Dublin office, is a well-known figure in the Irish funds business, having been a founder and a member of the senior management team at International Fund Services (Ireland) Limited, a State Street company (IFS). From IFS’ launch in 1996, she focused on the growth of its hedge fund administration business and more recently on State Street’s private equity fund
Private equity real estate firm Benson Elliot Capital Management has successfully leased up the entire CBXII building in Milton Keynes. On the strength of this letting success Benson Elliot has secured a new five-year, GBP12.4 million financing facility with Santander.
The letting milestone was achieved within one year of the property being acquired by Benson Elliot Real Estate Partners II L.P., in spite of the challenging market environment.
Benson Elliot secured a ten year lease for more than 7,000 sq ft to Global Radio Limited, the UK’s leading radio company and operator of well known brands including Capital
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