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Red Bend Software, a provider of mobile software management, has acquired VirtualLogix, a provider of real-time virtualisation technology for mobile handsets in which DFJ Esprit was a significant minority shareholder.
The addition of VirtualLogix’s products and team enables Red Bend to enter the high-growth mobile virtualisation market and broaden its management solutions for device manufacturers, semiconductor vendors, software developers and service.
Terms were not disclosed. The sale represents venture capital firm DFJ Esprit’s second exit this year.
"Today marks the beginning of a new era for Red Bend Software and a preview of what’s to come in the mobile
Alethia Biotherapeutics, a Montreal-based biopharmaceutical company focused on the development of monoclonal antibodies, has closed a CAD9.6m series A round of financing.
Alethia will use the proceeds to advance its lead pre-clinical programmes into clinical development over the next 18 months.
Co-led by AgeChem Venture Fund and existing investor BDC Venture Capital with GO Capital, the financing also included participation from Epicentre Technologies of Wisconsin, a long term partner and shareholder of the company.
"We are very pleased to welcome AgeChem Venture to our investor syndicate. Along with our current shareholders, AgeChem’s support provides us with the necessary financial resources
Orchid Cellmark and Accipiter Capital Management have reached an agreement in connection with the nomination of candidates for election to Orchid Cellmark’s board of directors.
Pursuant to the agreement, Accipiter will nominate two individuals for election to the Orchid Cellmark board.
Such nominees will serve as class I directors of the company with three-year terms ending in 2013.
Orchid Cellmark’s 2010 annual meeting of stockholders is scheduled for 9 November 2010.
Subsequent to the 2010 annual meeting, Orchid Cellmark will engage a consultant to conduct a board compensation study and will implement compensation and stock ownership guidelines requiring all board
Mountain Hawk Energy, a company focused on the acquisition, exploration and development of coal bed methane in Wyoming’s Powder River Basin, has acquired a 50 per cent share of the Clabaugh coal bed gas field from Marathon Oil.
Mountain Hawk Energy is wholly-owned indirectly by Yorkville Advisors’ managed fund, YA Global Investments.
With the acquisition and operational changes, Mountain Hawk expects to triple the daily production from 750,000 to 2.0 to 3.0 million cubic feet a day, and has doubled its total proved gas reserves from 8.8 billion cubic feet to 16.6 billion cubic feet in Clabaugh.
Les Garrett, managing
Venture capitalists in Canada expect their industry to contract further while those in emerging markets, including China, India and Brazil, expect to see theirs expand over the next five years, according to a survey by Deloitte, Canada’s Venture Capital & Private Equity Association and several other industry associations.
According to the survey results, two thirds (66 per cent) of Canadian survey respondents expect the number of venture firms to decrease between now and 2015, while a great majority of venture capitalists in China, India and Brazil anticipate adding more venture firms in their country during the same time frame.
Venture
Graphite Capital, a UK mid-market private equity firm, has completed the GBP130m management buy-out of U-POL, a provider of automotive refinish products, from private equity investor AAC Capital Partners.
This is the second time that Graphite has invested in U-POL after backing a management buy-out in 2002, growing the business and selling it to AAC three years later.
Graphite Capital partner John O’Neill says: “We are delighted to have the opportunity to invest in U-POL again. This is a first class business which manufactures and sells, under its own brands, high quality, innovative products and has substantial growth potential in
James Fenner has been named president and chief executive for GE Capital’s leveraged finance business, subject to regulatory approval.
Fenner will be responsible for leading and arranging mid market transactions and building close links with commercial partners such as Mubadala GE Capital and Ares Capital.
He replaces Thomas Greco, who has left to pursue opportunities outside of GE.
The position reports into Rich Laxer, EMEA president and chief executive for GE Capital.
“James is very highly-regarded in the financial industry, with over 20 years banking experience, and his leadership and customer focus will be invaluable as we continue to build
Low Carbon Accelerator, an AIM-listed venture capital fund focused on the low carbon sector, expects to announce a 15 to 20 per cent uplift in net asset value at the end of October due to strong sales figures from portfolio company Proven Energy.
UK-based Proven Energy is a manufacturer of sub-100kW turbines and has seen its sales increase by 200 per cent year-on-year since the introduction of the UK feed-in tariffs in April.
LCA holds a 75 per cent equity position in Proven, on a fully diluted basis, having invested GBP9.5m in the company since 2006. An unaudited valuation of
Travelex founder Lloyd Dorfman has funded the management buyout of Bridges Ventures’ majority stake in serviced offices business The Office Group in a deal worth GBP43.3m.
The Office, the concept for which was founded by Charlie Green and Olly Olsen with Bridges Ventures, is a provider of flexible office space with a portfolio of six sites in central London and one in Bristol, totalling 1,350 workstations.
Dorfman says: “This deal brings together two successful businesses that are well placed to expand into what is a growing market. With interests in this sector already I was looking to diversify and it
In the first of two articles, Grant Stein (pictured), global managing partner of international law firm Walkers, argues that contrary to popular stereotypes, the Cayman Islands are not only fully committed to tax transparency and information-sharing but are actively involved in the OECD’s decision-making process for shaping international standards in this area.
Demand for an increasingly open, accountable and transparent government and regulatory system is as strong in the Cayman Islands as it is in the US and other G-20 nations. Despite the dated stereotype clung to by critics, usually based on subjective and flawed information and/or methodology, Cayman has
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