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Foundation Venture Capital Group, a New Jersey Health Foundation affiliate, has sold its equity interest in Longevica Pharmaceuticals to Rostock International.
Longevica, a Princeton, New Jersey-based company, is involved in developing kinase inhibitors that may keep normal cells healthy during chemotherapy or radiation treatments.
Rostock International is a subsidiary of Rostock Group, a Moscow headquartered investment firm focused on investments in technologies that can increase human lifespan and improve quality of life.
“One of the exit strategies of FVCG is to sell our shares in the company in which we have invested to a corporation or other venture capital group
BlueArc, a network storage provider, has closed USD20m of funding led by Investor Growth Capital, the wholly owned venture capital arm of Stockholm-based Investor AB.
The round was also supported by 16 existing investors.
"After extensive research and diligence with BlueArc, their customers and industry experts, it’s clear that BlueArc has a significant growth opportunity and the demonstrated ability to grow faster than its market," says Jose Suarez (pictured), managing director at Investor Growth Capital. "BlueArc is helping customers solve critical storage and data management challenges with innovative solutions in an industry that continues to see explosive growth in the
Offshore law firm Appleby has appointed Christian Victory as an associate in its funds and investment services team.
Victory, who joined Appleby from William Fry in Dublin, transfers from the firm’s British Virgin Islands office where he advised clients on the formation, establishment and listing of mutual funds and hedge funds.
He also has experience in banking and finance, general lending, debt issuance and corporate and commercial law.
His arrival comes after six months of growth by the Cayman Islands funds team. Partner Richard Addlestone joined in January 2010 with over 16 years’ corporate, private equity and hedge funds experience
Venture investors put EUR1.1bn into 289 deals for European companies during the second quarter of 2010, a 50 per cent increase in investment from the year-ago period, which saw record-low investment levels.
The statistics from industry-tracker Dow Jones VentureSource show that in the second quarter of 2009, 252 deals raised EUR735m.
“It’s reassuring to see European venture investment beginning to bounce back after the record lows of 2009,” says Arno Castanet, research manager, Dow Jones VentureSource. “After the debt crisis, cautious optimism is emerging about the economic outlook in Europe for investment buoyed on by a number of good returns
Private equity firm The Jordan Company has signed a definitive agreement for The Resolute Funds I and II to sell HGI Holdings, a mail order distributor of medical supplies serving chronic disease patients.
The company is being acquired by private equity firms Clayton Dubilier & Rice and GS Capital Partners.
Terms of the sale agreement were not disclosed.
Headquartered outside Cleveland, HGI operates through two divisions, Edgepark Medical Supplies and Independence Medical. The company offers more than 30,000 products addressing chronic disease market segments including ostomy, diabetes, urological, enteral, incontinence and wound care.
“The Jordan Company has been a great
The latest plans to tackle India’s inadequate infrastructure present novel ways for investors to access growth, says Nitin Jain, head of long-only equities asset management at Kotak Mahindra (UK).
Despite its underdeveloped infrastructure, India is predicted to achieve growth of up to 9.4 per cent in 2010.
According to the Planning Commission of India, GDP growth is held back by 1.5 to 2.0 per cent every year because of a bottleneck in infrastructure expansion.
Corporate India is reporting strong growth and earnings but if India is to push through the double-digit growth barrier in the coming years, it needs much
Private equity firm Riverside has completed its first deal in Spain with the acquisition of Celvitae, a private cord blood bank.
Celvitae has been acquired by Riverside Europe Fund IV as an add-on to Crioestaminal Group.
Founded in 2007, Celvitae is licensed by the General Directorate for Regulation and Inspection of the Community of Madrid.
It is the only private bank in Spain to process samples within a hospital environment and maintain a complete maternal-foetal serum bank.
It processes all samples collected within 24 hours, using its laboratory at MD Anderson Internacional España (Madrid), guaranteeing a maximum percentage of live
Approximately one-third of private equity firm managers believe the credit crisis was resolved in 2009, while an additional ten per cent predict that market weakness will dissipate before the second half of this year.
In total, more than 80 per cent of private equity professionals surveyed suggest that the credit crisis has ended or will conclude before the second half of 2011, according to "Private Equity in 2010," the latest research report published by professional services firm Rothstein Kass.
The report includes the findings of a survey of 199 private equity firms conducted during the first and second quarters of
Evercore Partners has launched an equity research group and plans to initiate coverage of companies in the telecommunication, media and technology, and financial institutions industries during the third quarter.
The research group initially is comprised of ten analysts with expertise in the sectors they cover.
The research group will initially cover the following sectors: financial technology / IT services (analyst David Togut), large-cap banks (Andrew Marquardt), regional banks (John Pancari), specialty finance (Brad Ball), cable and satellite (Bryan Kraft), consumer internet (Kenneth Sena), media and entertainment (Alan Gould), networking equipment (Alkesh Shah), publishing (Douglas Arthur) and telecom (Jonathan Schildkraut).
Evercore
Funds advised by BC Partners and Lion Capital have reached an agreement whereby Lion Capital has been granted a period of exclusivity for the purposes of reaching a definitive agreement for Picard with BC Partners.
The communication and consultation process with employee representatives is expected to start before the end of the week.
Following the completion of this process, BC Partners will be able to enter into a formal agreement with Lion. This should result in completion of the transaction in the fourth quarter of 2010, after it has been approved by the European competition authorities.
Picard is a
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