After 18 months of pervasive gloom dealmakers are increasingly more positive about the mergers and acquisitions environment, according to the twice yearly ACG-Thomson Reuters DealMakers Survey. While the last three surveys were consistently dreary, with more than 80 per cent of dealmakers reporting a fair to poor M&A environment, the most recent survey reports that 85 per cent of dealmakers expect an increase in M&A activity in the next six months. A year ago, only 56 per cent predicted an increase in M&A activity. The survey, by the Association for Corporate Growth and Thomson Reuters, reflects responses from nearly 700

Hercules Technology Growth Capital, a finance company providing venture debt and equity to venture capital and private equity-backed technology and life science companies, has committed USD33.0m in structured debt financing to three new portfolio companies. Hercules has committed USD15.0m to California-based Alexza Pharmaceuticals, a pharmaceutical company with novel drug delivery technology focused on the research, development and commercialisation of proprietary products for the acute treatment of central nervous system conditions. Hercules also committed USD15.0m to Chroma Therapeutics, a biotech company headquartered in the UK which is focused on taking advantage of the power of chromatin biology and novel drug accumulation

Albion Ventures has made a GBP6.4m investment to fund the creation of a 62 bed hospital offering long-term care to NHS patients in the Somerset area. The investment follows research from Albion Ventures that identified an area of under provision in this type of care and in particular in the South West of England.    The current site, a nursing home in Taunton, Somerset, will be refurbished and extended and then re-classified by the Care Quality Commission as a hospital to provide “slow stream” rehabilitative care for NHS patients. Planning permission has been granted for a further 27 rooms on

Greenway University, a US-based medical marijuana organisation, has received USD1m in venture capital from Trilogy Partners and USD1m from an angel investor. Greenway University offers compliance driven medical marijuana business administration educational services in California, Colorado and New Jersey. It covers nearly every aspect of the business ranging from genetic strain development, insurance services to merchant solutions that ensure compliance and high quality operational standards. "Greenway University has a fundamental commitment to set the benchmark in the medical marijuana industry for professionalism, integrity and technological innovation," says Gustavo Escamilla, Greenway University president and chief executive. "Greenway University embraces and educates

J.P. Morgan has been appointed by IFC Asset Management, a wholly owned subsidiary of IFC, a member of the World Bank Group, to provide outsourced private equity accounting and fund administration services. IFC Asset Management was established in 2009 to manage private equity funds comprising third-party capital. The establishment of the company marks the first time IFC is serving as a fund manager of third-party capital. Assets under administration for this mandate total USD4bn. J.P. Morgan will provide IFC Asset Management’s IFC Capitalization Fund and IFC African, Latin American and Caribbean Fund with a set of services including fund and

Polaris Private Equity, a lower mid-market firm active in Denmark and Sweden, has sold Frösunda to the British private equity group HgCapital. Frösunda is a healthcare services company active in personal assistance, assisted living and daily activities for the functionally impaired.                                  Frösunda was acquired by Polaris in 2007 and under Polaris’ management the company more than doubled its turnover from SEK820m (EUR85m) to an expected SEK1,800m (EUR188m) in 2010. The company has over 5,000 employees and is established in 29 Swedish cities.   Polaris Private Equity is focused on buy-out transaction of well established companies in Denmark and Sweden.

Private equity firm Advent International has sold Poundland, Europe’s largest single price discount retailer, to private equity firm Warburg Pincus. The value of the transaction was undisclosed. Founded in 1990, Poundland is a general merchandise retailer which offers branded and own-label products across a broad range of categories, including health and beauty, household products, food, occasions and entertainment, all at the single price point of GBP1. The company currently serves almost three million customers a week and is forecast in 2011 to generate revenues in excess of GBP700m. Advent acquired Poundland in June 2002 having led a management buyout. During

Conor Venture Partners, a Finnish early-stage technology venture capital firm, has held the EUR46.5m first closing of its second early-stage venture capital fund. Operating from Finland and following in the footsteps of Conor’s first fund, the new fund will invest in early-stage technology centric companies rooted in the Nordics and Baltics. Conor Technology Fund II investors at first closing include the European Investment Fund, Finnish Industry Investment, Etera Mutual Pension Insurance Company, Veritas Pension Insurance Company and Atine Investment Partners. “We are very proud to announce our second fund at a size well above its original first closing target,” says