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The IT security company Secunia has sold approximately 31 per cent of the company to the Danish private equity company Dansk Kapitalanlæg.
Secunia focuses on vulnerabilities in applications, developing and supporting intelligent software solutions for effective coverage and remediation of weaknesses in IT networks.
Since 2002 the company has developed from being a supplier of vulnerability information to today being a research house within the field of vulnerabilities.
Jesper Johansen, the newly elected chairman of the board and partner in Dansk Kapitalanlæg, says: ”Secunia has gone from being a small Danish start-up company to today being benchmarked against international companies
The Channel Islands can enhance their value to Europe Union through business growth in emerging markets, according to the former chairman of the Jersey Financial Services Commission, the island’s financial regulator.
Colin Powell, now adviser on international affairs to the States of Jersey and chairman of the Offshore Group of Banking Supervisors, believes there are particularly good business opportunities for the Channel Islands in tapping the growth economies of China and India.
“The islands’ expertise in specialist funds, special purpose vehicles and wealth protection should be of particular appeal in these markets,” Powell told delegates at the recent Channel
GlobeOp Financial Services has appointed Philip Tazza as global head of investor services.
Tazza reports to Vernon Barback, GlobeOp president and chief operating officer, and is based at the company’s Harrison, New York office. He is also a member of GlobeOp’s operating committee.
"Phil will continue to strengthen GlobeOp’s services and initiatives related to the increased transparency, due diligence and performance data our clients’ investors now require," says Barback. "Responding to the market’s evolution, he will also focus on the support we can offer fund managers, both as they serve their existing investors and reach out to potential new investors."
European Union economic affairs and finance ministers have reached agreement on the controversial proposed Directive on Alternative Investment Fund Managers, raising the prospect that the legislation could be finalised by a vote in the European Parliament next month.
The EU ministers found a compromise on the most contentious aspect of the directive, the rules governing access to EU markets for alternative fund managers and investment vehicles based outside the 27-member bloc.
The agreement will allow non-EU mangers and funds to obtain the same pan-European marketing ‘passport’ as their European-based counterparts two years after the directive comes into force, which is
Jersey’s fund servicing industry rose to 1,688 funds and sub-funds at the end of June 2010 from 1,654 funds a year ago, according to data from Lipper.
Total net assets reached USD232.0bn (GBP155.1bn).
The number of schemes/umbrella funds serviced in Jersey rose by five per cent, from 1,071 to 1,126 schemes.
The largest administrator of funds serviced in Jersey is State Street, with USD76.6bn under administration (GBP51.2bn). Bedell Trust (USD21.5bn) and R&H Fund Services (USD19.8bn) are second and third.
Among professional firms, PricewaterhouseCoopers is the largest auditor (682 funds), ahead of KPMG and Ernst & Young.
Meanwhile, Mourant Ozannes provides
The China Grow VC network, launched by Grow VC in collaboration with C2I Ventures, will open doors for entrepreneurs and early stage startups in China into the “crowdfunding” arena.
The network also aims to provide a strong startup support infrastructure that encourages startup culture.
The launch of an exclusive funding network for China by Grow VC comes just months after a similar local network was launched in India.
The India Grow VC network, which was launched in July 2010, gathered the backing of partners such as IndiaCo Ventures and The Indian Angel Network and has already grown to
The Pacific Road Resources Funds have purchased 1,807,229 units issued by First Bauxite by way of private placement at a price of CAD0.83 per unit for gross proceeds to First Bauxite of CAD1,500,000.
First Bauxite is a Canadian natural resources company engaged in the exploration and development of bauxite deposits.
Each unit consists of one common share in the capital of the company and one half of one common share purchase warrant, with each warrant entitling the holder to purchase one common share for two years at a price of CAD1.075 per share.
The common shares included in the units
Buddy Media, a Facebook management system for advertisers, has raised USD23m in series C funding to fuel its growth.
Institutional Venture Partners led the new round and was joined by existing Buddy Media investors including Softbank Capital, Greycroft Partners and Bay Partners.
The Buddy Media investment is the first by IVP in its latest fund, a USD750m later-stage venture capital and growth equity fund announced in August 2010.
The expansion capital will be used to triple Buddy Media’s employee headcount to 300 in the next 18 months, as well as fund other marketing and growth initiatives.
Buddy Media’s
New Chinese investment rules greatly expand investment opportunities in China for foreign investors and also allow for additional sources of capital for RMB-denominated funds, says law firm Debevoise & Plimpton.
Until now, sponsors raising RMB-denominated funds have practically been required to raise capital solely from Chinese investors. New proposed rules will change this.
Debevoise & Plimpton says it has confirmed with a source in Shanghai that the Shanghai Municipal Government has received approval in principle from China’s finance authorities to launch a pilot programme for qualified foreign limited partners to invest in China’s private equity and venture capital markets.
The European Fund and Asset Management Association says it is very concerned about the European Commission’s financial services tax proposals.
It considers that the policy reasons advanced by the Commission are seriously flawed in the case of the funds industry.
For example, there is no acknowledgement of the fact that the funds industry has not benefited from government support and would not expect to rely on state bailout as a safety net.
Moreover, taxing measures could have a significant impact in the context of individual investors’ retirement provisions.
Peter de Proft, director general of Efama, says: “Increased costs due to
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