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Sequent Medical has closed a USD15.6m series B venture capital financing led by Domain Associates.
Existing investors Versant Ventures and US Venture Partners also participated in the financing.
Nimesh Shah (pictured), principal of Domain, will join Sequent’s board of directors.
"We are privileged to have such a high calibre group of investors, and would like to welcome both Domain Associates as an investor in Sequent and Nimesh Shah as a board member," says Tom Wilder, who joined Sequent Medical in February 2010 as president and chief executive officer. "We will utilise these funds to continue our development programs, including the
Private equity investors rank healthcare companies their top choice for deal activity in the next 12 months, says a survey by accountants and business advisers Grant Thornton UK.
When asked to select the top three sectors they would be most active in over the next 12 months, 50 per cent of respondents from private equity firms pointed to healthcare, according to the Private Equity Barometer, a quarterly survey of more than 100 private equity executives.
In addition, 52 per cent of private equity firms cited healthcare as the sector they had been most active in during the previous 12 months.
Guernsey’s Chief Minister Lyndon Trott has been reinforcing the island’s position as a leader in tax transparency during meetings with officials in Washington.
The Chief Minister last week met with Michael Mundaca, assistant secretary of the US Treasury Department, to discuss the continuing cooperative efforts of the two jurisdictions on tax transparency and information exchange.
Appointed by President Barack Obama in March 2010, Mundaca is the senior executive officer in the US government responsible for tax policy. The meeting builds on similar meetings between the two jurisdictions that began almost a decade ago and produced Guernsey’s first-ever tax information exchange
Law firm Withers Bergman has hired Robert Wessely as a partner in its New York office.
He was previously a partner at Arnold & Porter.
A specialist in cross-border transactions, Wessely has represented a diverse range of clients in Europe, Asia, the Middle East and the US.
He has extensive experience in providing strategic and structural advice on cross-border mergers and acquisitions, private equity transactions, venture capital, joint ventures, financing, restructuring and licensing transactions.
While his client base is worldwide, he has particular expertise in representing German and Middle Eastern companies involved in transactions in the US. He is
Tandem Expansion has made the first investment from its CAD300m Tandem Expansion Fund I in Delta-Q Technologies.
Delta-Q is a technology company that supplies power conversion and power management products for electric drive vehicles with over 500,000 units in use on vehicles such as golf cars, aerial work platforms, industrial floor cleaning machines, and neighbourhood electric vehicles.
The investment will be used to fund Delta-Q’s product development and overall corporate growth plans.
Delta-Q’s management estimates that the market for its power conversion and power management products will grow to approximately CAD1bn by 2015 due to continuing market adoption and new
Jeff Giller and Brendan MacDonald have formed Clairvue Capital Partners and held an initial closing of the company’s first fund, Clairvue Capital Partners I, with USD250m in capital commitments.
Clairvue was established to manage funds focused on recapitalising real estate private equity funds, real estate operating companies, institutionally managed property portfolios, joint ventures, investors’ balance sheets and other types of real estate platforms that would benefit from restructuring.
Clairvue is based in San Francisco but it will make its investments globally.
"With the extreme dislocation in the global commercial real estate market, over a trillion dollars in real estate debt
The government’s proposed capital gains tax increase may have a profoundly negative effect on the attractiveness of the UK as a base for the private equity industry should it apply to them, according to research by Investec Private Equity Partner and Fund Finance.
Despite the turmoil of the past two years, the UK is still seen as the most competitive place for private equity firms, beating the US and Switzerland into second and third slots, respectively,
However, research among senior private equity professionals currently based in the UK also reveals that proposed tax changes pose the biggest threat to the
Private equity firm 3i made a total return of GBP407m during the year to 31 March 2010, a 16.2 per cent return on opening shareholders’ funds.
It had strong realisations of GBP1,385m at good average uplifts of 19 per cent over the opening carrying value.
3i’s net debt reduced to GBP258m from GBP1,912m in 2009.
The company increased its net asset value per share to GBP3.21 from GBP2.79 at 31 March 2009.
3i’s chairman Baroness Hogg says: “A transformed financial position, improved performance, and a substantial increase in funds available to invest have put 3i in a strong competitive position.”
Olympus Partners, a Connecticut-based private equity firm, has acquired Churchill Financial, a middle market focused commercial finance company, through its affiliate Olympus Growth Fund V.
Olympus has agreed to refinance existing indebtedness and invest additional capital to support the growth of Churchill’s core middle market lending business.
“Churchill is an excellent addition to our financial services portfolio,” says Rob Morris (pictured), managing partner of Olympus Partners. “We expect further opportunities in the wake of the consolidation prompted by the recent recession.”
“We have been looking for an opportunity to invest in the middle market senior lending area for
Steve Mahon, chief investment officer at Low Carbon Accelerator, a UK-listed cleantech venture capital fund, says he is encouraged by the coalition government’s commitment to showing policy leadership in the low carbon space.
According to Mahon, both parties have placed the low carbon economy at the centre of job creation plans and have shown their support for microgeneration and home energy-efficiency improvements.
“We welcome the expected appointment of Chris Huhne as the new Secretary of State for Energy and Climate Change. The Liberal Democrats set out the most ambitious carbon reduction targets in their manifesto and we hope that these
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