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Institutional Venture Partners, a later-stage venture capital and growth equity firm, has celebrated its 30th year with a new USD750m fund and eight new investments.
In August, IVP closed Institutional Venture Partners XIII, a USD750m later-stage venture capital and growth equity fund.
IVP XIII is the largest fund IVP has raised and brings the firm’s cumulative committed capital to USD3bn.
IVP’s eight new investments were:
1. IVP led a USD23m later-stage venture financing in Buddy Media, a social media management system.
2. IVP led a USD10m later-stage venture financing in DoubleVerify, which specialises in online advertising verification.
3. IVP led a
CDC Group, the UK’s development finance institution, has made a USD10m investment in the first private equity fund dedicated to Bangladesh.
CDC’s investment in the Frontier PE fund will be used to provide growth capital to help promising Bangladeshi businesses expand and develop key industry sectors.
Frontier has raised USD88m from development finance institutions and commercial investors. It will make long-term investments in privately owned, family companies in Bangladesh that are looking to expand and reach new markets. Its equity investments will range between USD2m and USD10m and target firms in the country’s export, agriculture, health, education, IT and services
Riverside Partners, a Boston-based private equity firm, has made a majority equity investment in Dominion Diagnostics, a laboratory services company focused on quantitative testing to support patient medication monitoring.
The investment was completed in partnership with the founders and management of the business.
For the past 13 years, Dominion has provided laboratory services to thousands of clients in a variety of medical specialties, including addiction treatment, behavioural health, pain medicine, primary care, psychiatry and hospital systems.
"When we decided to bring on a financial partner for Dominion, we focused on finding a private equity firm with significant health care expertise
MMC Ventures, the growth company investor, has invested GBP1.5m in AlexandAlexa, an online retailer for luxury children’s wear.
The company sells premium brands such as Ralph Lauren, Burberry, Little Marc Jacobs and Junior Gaultier.
MMC is taking a significant minority stake in the business.
The company is forecast to turnover GBP40m by 2014 through international expansion.
AlexandAlexa is a family owned business that was founded in September 2007 by husband and wife team Alex and Alexa Theophanous. AlexandAlexa currently stocks over 75 luxury and premium brands, offering fashion, shoes, toys, books and accessories for children aged zero to 12 years.
Centre Partners Management, a middle market private equity firm with offices in New York and Los Angeles, has sold Quickie Manufacturing to Jarden, a provider of niche consumer products.
Quickie is a manufacturer and supplier of conventional household cleaning tools in retail channels in North America.
Terms of the transaction were not disclosed.
Centre Partners and certain of its affiliates made an investment in Quickie in December 2004, partnering with Quickie’s executive owners including chairman Peter Vosbikian Jr.
Vosbikian says: "Our partnership with Centre represented a key step in Quickie’s evolution. Their expertise and support have been instrumental in facilitating
Nasuni, maker of a cloud gateway for the storage industry, has closed USD15m in series B funding led by Flybridge Capital Partners.
Existing investors North Bridge Venture Partners and Sigma Partners, who led the company’s series A funding in March 2009, also participated in the round.
Investment in Nasuni now totals USD23m for the two rounds.
Chip Hazard, a general partner at Flybridge Capital Partners, has been named to the Nasuni board of directors. Jeffrey P. McCarthy, partner at North Bridge, and Paul Flanagan, managing director with Sigma Partners, represent the current investors.
Nasuni develops the Nasuni Filer, a file
Investment firm First Reserve has sold its 80 per cent equity interest in the Bahamas Oil Refining Company oil storage terminal to Buckeye Partners for USD1.36bn.
First Reserve and Vopak, the tank terminal operator, acquired the Borco oil storage terminal in Freeport, Bahamas, in April 2008 as a joint venture.
The equity of the company was split 80 per cent/20 per cent between affiliates of First Reserve Fund XI and Royal Vopak, respectively.
Full terms of the transaction were not disclosed.
“Our investment in Borco has provided significant value for our strategic partners and investors. During our three-year investment period,
Italian fund management company F2i and Axa Private Equity have agreed to acquire 100 per cent of the capital of E.ON Rete, a fully-owned company of E.ON Italia.
E.ON Rete operates in the natural gas distribution industry in Italy. It supplies about 600,000 gas delivery points located in around 300 municipalities, predominantly in the northern-central regions.
The consideration for the sale of 100 per cent of E.ON Rete’s capital is stipulated as a base value (inclusive of net debt) of EUR290m (the enterprise value). The deal represents a net cash consideration of EUR255m.
The sale is subject to antitrust approval.
LDC, a UK mid-market private equity firm, has fully exited its investment in Cheshire Salt Holdings, the parent company of Middlewich-based British Salt, in a sale to Brunner Mond.
The transaction remains subject to regulatory approval, which is expected in January.
Brunner Mond, which is wholly owned by Tata Chemicals, part of the Tata group of companies, is the UK’s only soda ash and sodium bicarbonate producer. Its main facility is in Northwich, Cheshire.
British Salt, which produces approximately half of the UK’s pure salt, markets a variety of products for a range of UK and overseas markets,
Law firm Dundas & Wilson has advised the new management team in the private equity-backed buyout of Chemigraphic, one of the largest independent full service electronic manufacturing services providers in the UK.
RJD Partners, a lower middle market investor, backed the deal which will see the sons of founders Frank and Julia Graham take over the business.
Paul and Neil Graham, with 29 years of experience in Chemigraphic between them, will be sales director and operations director respectively.
Bob Adams will join the team as chief executive, having previously held senior level management positions at various electronics businesses, including Thales
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