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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
Portfolio Advisors has announced the final closing of its global diversified private equity fund-of-funds, Portfolio Advisors Private Equity Fund VI (PAPEF VI), with total commitments of USD1.103 billion. Limited partners include private and public pension plans, university endowments, private foundations, insurance companies, family offices and high net worth individuals. More than 80% of the total limited partner commitments to the Fund came from investors who had previously invested in one or more PA-sponsored funds.
The structure of PAPEF VI permitted each limited partner to customise its commitment by selecting its desired sector allocations and proportions of private equity exposure
Carey Olsen has just completed the UK’s first ever listing of a closed-ended real estate mezzanine finance fund on the London Stock Exchange (LSE) in a GBP50 million deal.
With instruction from Berwin Leighton Paisner with Oriel Securities as sponsor, Carey Olsen advised Duet Real Estate Finance on all Guernsey legal and regulatory aspects of the listing.
The unique fund has raised capital to invest in the European commercial real estate debt market and, upon listing, exceeded the minimum target with interest from a range of investors.
The Carey Olsen team was headed by Ben Morgan (pictured) and Geoff Ward-Marshall.
SNR Denton advised Standard Chartered Private Equity Limited, the private equity arm of Standard Chartered Bank, in its closing of a USD75 million mezzanine investment in Hassan Mohammed Jawad & Sons BSC, a family-owned private company based in Bahrain.
This is Standard Chartered Private Equity’s first proprietary investment in the Middle East and demonstrates a commitment to investing in mid-to-late stage companies across sectors with proven growth oriented business models, positive net cash flow and earnings generation backed by highly capable and trustworthy management teams. Standard Chartered Private Equity executes both mezzanine and equity investments backed by Standard Chartered Bank’s
Affine Systems has closed a USD5 million round of venture capital Series B financing led by Crosslink Capital, with continued support from existing investor Highland Capital Partners. Affine has received a total of USD8 million in funding since 2007.
“Affine provides clarity into video content so advertisers can buy unstructured online videos the same way they buy traditional television programming,” says Mike Sullivan, CEO and co-founder at Affine Systems. “We plan to use Crosslink Capital and Highland’s investment to scale our operations and bring advertisers the tools they need to be confident that their ads will be shown in connection
Doughty Hanson portfolio company Norit has entered into a definitive agreement to sell its Clean Process Technologies (CPT) division to Pentair (NYSE: PNR) for EUR503 million.
In 2010, CPT reported sales of €222 million and EBITDA of €35 million.
CPT is a global leader in membrane and clean process technologies and systems in the high growth water and beverage filtration and separation segments. CPT’s product offerings include innovative ultrafiltration and nanofiltration membrane technologies, aseptic valves, CO2 management and control systems and specialty pumping equipment and systems. Based in the Netherlands, CPT has approximately 1,200 employees and operates five production and
Funds advised by Apax Partners (Apax) have entered into definitive agreements to acquire Epicor Software Corporation (NASDAQ: EPIC), a leading provider of enterprise business software solutions for the midmarket and divisions of Global 1000 companies, and Activant Solutions, Inc, a leading technology provider of business management software solutions for mid-market retail and wholesale distribution businesses. The combined transaction is valued at approximately USD2 billion.
Apax intends to combine Activant and Epicor to create one of the largest global providers of enterprise applications focused on the manufacturing, distribution, services and retail sectors. Following completion of the merger, the combined company will
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