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The boards of four Maven managed venture capital trusts intend to raise up to GBP6.4m in a linked top-up offer across the four companies, which will close on 29 April 2011 and is available for subscriptions for both the 2010/11 and 2011/12 tax years.
This is a strictly limited offer, targeting GBP6.4m in total raised across the four VCTs for the two tax years.
The four VCTs participating in the offer are: Maven Income and Growth VCT; Maven Income and Growth VCT 2; Maven Income and Growth VCT 3; and Maven Income and Growth VCT 4.
The funds raised will
General Electric and its venture capital partners have made a collective investment of USD55m in power grid technology companies.
The investment is a part of the USD200m GE Ecomagination Challenge.
It is the first of several rounds of innovation funding planned by GE and its venture capital partners as part of the Challenge, a global commitment to accelerate the development and deployment of power grid technology through open collaboration.
GE says that to date it has formed and accelerated a dozen new partnerships with entrants to develop and commercialise technologies including energy storage, utility security, energy management software and electric
Octopus Investments has hired Simon Andrews into its ventures division.
Andrews will work alongside Simon Murdoch and Alex Macpherson to manage and develop the portfolio which includes Zoopla, True Knowledge and Prismastar.
After more than ten years working as an equity analyst and in M&A across Europe, Andrews’ most recent role at Silicon Valley Bank saw him specialise in venture debt and debt financing of mostly life science and technology companies, in both early and later stages of development.
Previous notable investments with which Andrews has been involved include glassesdirect.com, clearswift.com and adeptra.com.
Andrews’ principle role within
The global financing markets are headed for a revival over the next 12 months, with a slower recovery expected in Europe, according to a survey of capital providers conducted by law firm Paul, Hastings, Janofsky & Walker in association with mergermarket and Debtwire.
The survey revealed that increased lending activity, heightened competition from non-traditional lenders and new financing structures are driving renewed optimism in the global financing markets.
Based on a series of interviews with over 125 capital providers in North America, Europe and Asia, including banks, private equity firms, hedge funds and sovereign wealth funds, “The Future of
Picochip, a supplier of femtocell technology and silicon, has completed a USD9m debt facility with Silicon Valley Bank, the commercial banking division of SVB Financial Group.
The facility consists of a USD4m three-year term loan and a two-year USD5m working capital line of credit.
The combined facility will provide Picochip with access to additional working capital to support the company’s growth strategy.
“Picochip is constantly driving to develop and commercialise innovative approaches to mobile voice and data services, with femtocells deploying and LTE following. We believe this debt facility will serve as a solid foundation for our rapid growth,
Private equity firm Riverside is expanding its efforts to invest in clean technology companies as the firm anticipates strong growth in alternative energy and energy efficiency markets.
Riverside has hired associate Evelyne White to explore opportunities within the cleantech sector.
White works with Riverside’s local origination and transaction teams to build institutional knowledge in the sector, as well as to identify, evaluate and execute investments in the space.
“Riverside has a time-tested approach to all the sectors in which it has worked,” says White. “We identify the best and most unique companies in a growing industry, and work alongside management
Private equity firm Pomona Capital has hired Sebastien Bowen in London team as an investment director to focus on secondary investment analysis and deal sourcing in Europe.
Bowen has over eight years of primary and secondary fund investing experience.
Prior to joining Pomona Capital, he was a director at MetLife Investments and was previously at Axa Private Equity in London where he spent most of his career.
Bowen joined Axa Private Equity in 2002 where he focused predominantly on primary and secondary private equity opportunities in Europe.
Other recent additions to the Pomona Capital global team include Vivian Mandis, who
The quarter ending 30 June 2010 marked the continuation of a five-quarter trend of positive returns in private equity and venture capital funds, according to Cambridge Associates, a provider of research and investment advice to institutional investors and private clients.
Earnings in both types of funds were down from the prior quarter, however, marking the third consecutive quarter-to-quarter decline for these alternative assets.
Private equity outperformed venture capital during the second quarter. Both earned better returns during the period than the major public market indices, which suffered their first negative quarter in a year. Funds in the private equity index
GE Energy Financial Services, a unit of GE, has joined a USD8m funding round for CoolPlanetBioFuels, a start-up company developing a technology that converts low-grade biomass into high-grade fuel and carbon that can be sequestered.
The venture capital investment was led by North Bridge Venture Partners, which had also led CoolPlanet’s financing round last year.
Additional financial details were not disclosed. CoolPlanet’s research and development facilities are located in Camarillo, California.
"GE’s technical and market resources could accelerate our development well beyond the impact of the company’s financial investment," says Mike Cheiky, CoolPlanet’s president and chief technology officer.
"CoolPlanet’s low-capital
Private equity firm Advent International has acquired Tinsa, a Spanish property valuation firm, from its founding partners.
Advent International has taken a 94.5 per cent majority stake in the business, with the remaining capital held mainly by the management team.
The transaction is valued at EUR100m and has been approved by the Bank of Spain.
Founded in 1985, Tinsa specialises in property valuation, analysis and real estate advisory services.
In 2010, the company expects to carry out over 240,000 valuation reports – representing a total valuation volume of more than EUR160bn – and forecasts a turnover of EUR80m.
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