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First Reserve Corporation, a leading private equity firm in the energy and natural resources industries is to acquire Metallum Holdings SA (Metallum Group), a European based base metal refining and recycling company, for EUR670m. Metallum Group specialises in processing and converting low grade copper scrap into metal.
With key operations in Beerse, Belgium, Metallum Group consists of two distinct business lines: Metallo, a copper and tin refining business that leverages its operational knowledge to process low and ultra low grade scrap and monetize related impurities; and Metallum, a European ferrous and non-ferrous scrap recycling and trading business. Metallum holds a
Health Evolution Partners (HEP), a manager of health care investment funds, has formed a life sciences team in the Health Evolution Partners Growth Fund. The team will focus on investments in commercial-stage life sciences companies with the potential to be market leaders in many sectors, including medical devices/products, specialty pharmaceuticals, drug delivery technologies, outsourcing, manufacturing and research.
“We see a lot of opportunity to bring our capital, expertise and network to life sciences companies that have demonstrated commercial success,” says David Brailer, MD, PhD, Chairman of Health Evolution Partners. “The life sciences team joins our services and health information technology
Pond Ventures has completed its fourth portfolio company exit in six months with the acquisition of Nanotech Semiconductor by Gennum Corporation (TSX: GND) for USD34 million, plus a potential earn-out of up to USD6 million if certain revenue targets are achieved by Nanotech over the next 12 months.
The exit followed the same capital-efficient investing model as Pond’s prior exits, and delivered an attractive return over a shorter period of time than the average venture-backed company.
“This exit once again proves the merits of capital-efficient investing and our transatlantic business-development approach in today’s challenging market environment,” says Richard
Venture capital firm Andreessen Horowitz has created a co-investment fund for its Fund II, bringing total assets under management to USD1.2 billion. The additional funds will be targeted at growth-stage investments.
“Creating the co-investment fund was an easy decision,” says General Partner John O’Farrell. “We’re fortunate to have strong demand from the best growth companies building the next global franchises. The co-investment fund gives us the firepower to meet their needs, while meeting our investors’ demand for access to the best growth opportunities.”
Andreessen Horowitz has made growth investments in iconic companies such as Box.net, Facebook, Fusion-io, Groupon, Jawbone, Skype,
Private Equity firms invested about USD3,296 million across 83 deals in India during the quarter ended March 2011, according to a study by Venture Intelligence, a research service focused on Private Equity and M&A transaction activity in the country.
The amount invested during the quarter was higher than that during the same period last year (which witnessed USD2,133 million invested across 81 deals) and over twice that of the immediate previous quarter (USD1,515 million across 83 deals). The median size of investments during Q1 ’11 was USD14.5 million, compared to USD11.5 million in the same period a year ago.
Marin Software, provider of the leading online advertising management platform for advertisers and agencies, has secured an additional USD16 million (GBP9.8m) in Series E financing. Crosslink Capital led the round with participation from Marin’s existing venture capital investors including Benchmark Capital, DAG Ventures, Focus Ventures and Triangle Peak Partners.
The company has also announced that Eric Chin, partner at Crosslink Capital, will join the Board of Directors as an observer and that former Shutterfly VP of Finance John Kaelle has joined the executive team as Executive Vice President and Chief Financial Officer.
Marin Software will invest the Series
Investcorp Technology Partners (ITP), the technology private equity arm of the international investment group Investcorp, has undertaken a majority buyout of eviivo at a valuation of approximately GBP30 million. As a result of the transaction, Investcorp will partner with eviivo’s founders and management to substantially grow the business. Dirk Schmücking and Gilbert Kamieniecky from ITP will join eviivo’s board of directors.
With headquarters in London, UK, eviivo connects small and medium-sized accommodation businesses with online distribution channels. Its software frontdesk handles all offline and online bookings in real time. Eviivo has grown at a compounded annual growth rate of over 60%
The Houston Technology Future Fund isle to raise USD100 million in venture funding for selected early-stage technologies being developed within a 30-county region.
The fund will provide equity for revolutionary technologies in the aerospace, energy, information technology, life sciences, and nanotechnology sectors.
The purpose of the Fund is to provide capital for companies to take their early-stage technologies to the marketplace. The fund’s objective will be to generate income and capital gains by making controlling and non-controlling equity investments in new or established businesses.
The fund has named John White, who has extensive experience in the venture capital
Practice Fusion has closed a USD23 million Series B round of financing led by Founders Fund, with participation from Artis Capital Management and Glynn Capital Management, as well as returning investors Morgenthaler Ventures and Felicis Ventures. The round brings the company’s total funding to USD30 million.
"Practice Fusion revolutionises our interactions with the medical community, just as Facebook did for social networking," says Peter Thiel (pictured), managing partner at Founders Fund, founder and former chairman and CEO of PayPal, and the first investor and board member of Facebook. "Practice Fusion advances our health and well-being by bringing the benefits of
West End law firm Howard Kennedy has acted as legal adviser and sponsor in 62% of all Venture Capital Trusts (VCTs) launched in the VCT season 2010/11, reaffirming its position as a leading VCT legal adviser and sponsor.
As the only law firm that acts as both sponsor and legal adviser to VCTs, this season Howard Kennedy has represented 20 VCT issues of the 32 successfully launched.
In terms of fundraising, Howard Kennedy represents VCT prospectus offerings looking to raise GBP420 million of the total GBP741 million of prospectus funds in the 2010/11 tax season, representing 57% of
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