MuleSoft, a provider of software and support for open source application infrastructure products, has closed its third round of financing with USD12m in venture capital. The financing was led by SAP Ventures with Bay Partners also participating as a new investor. Existing investors Hummer Winblad Venture Partners, Morgenthaler Ventures and Lightspeed Venture Partners also participated. "As enterprise applications continue to shift toward service-orientation and the cloud, there is a growing need for middleware that is designed for the web," says Herve Couturier (pictured), executive vice president technology group, SAP. "SAP and MuleSoft are perfectly positioned to capitalise on the trend

Glacier Bay, a California-based developer of system-integrated DC power and thermal management technologies, has raised USD15m in series C funding. Venture capital firm City Light Capital led the tranche, and was joined by return backers The Westley Group and New Enterprise Associates. The company previously raised over USD40m from Westley, New Enterprise Associate and Quercus Trust. The proceeds will be used to fund the growth of ClimaCab, a climate control system for the trucking industry, as well as new product initiatives. “Glacier Bay technology reduces fuel consumption in the transportation sector and helps address some of the leading macroeconomic and

StepStone ASA has signed a binding agreement to sell its StepStone Solutions talent management software division to European sector focused private equity investor HgCapital for a purchase price of EUR110m. The transaction is expected to close by the end of April 2010, subject to usual closing conditions. In 2009 StepStone recorded revenues of EUR100.1m, of which EUR50.3m relate to StepStone Solutions. The software division, which serves more than 1,400 customers, operates in 17 countries and employs around 450 people, will continue to be led by its current group managing director Matthew Parker and his management team. StepStone is a wholly-owned

Growth Capital Partners, an equity and debt provider to lower mid market companies, has sold Entec, an environmental and engineering consultancy, to Amec for an initial cash consideration of GBP61.2m. Further payments will be made subject to retention and performance. Amec is a FTSE 100 supplier of consultancy, engineering and project management services to the energy, power and process industries.  This is the second realisation from GCP’s fund II and represents a return of 33 per cent IRR achieved and a 3 x money multiple.   Entec provides engineering design, project management, and environmental assessment to a broad range of

Scientific Conservation, a provider of energy efficiency, system optimisation and automated continuous commissioning solutions for the commercial building market, has closed USD5m in series A funding with Draper Fisher Jurvetson, a venture capital firm based in Menlo Park, California. The company has also named Russ McMeekin as chief executive officer. Prior to joining Scientific Conservation, McMeekin served from 2002 to 2008 as president, chief executive officer and board member of Progressive Gaming International, an integrated gaming management systems provider which pioneered the use of RFID in poker chips for the casino gaming industry. From 2001 to 2002 he was president

Fundo de Investimento Privado Angola, a private equity fund targeting small and medium sized enterprises in Angola, has held its first closing. The European Investment Bank, the long-term lending institution of the European Union, is to provide USD6m for the USD28m fund. Other investors are Danish International Investment Funds, Banco Privado Atlântico, Banco Africano de Investimentos and Norfund. European Investment Bank vice president Plutarchos Sakellaris (pictured), responsible for Africa, Caribbean and the Pacific, says: "We are pleased to work closely with FIPA to enhance equity finance available for Angolan small and medium sized companies, a crucial issue for companies across

Enphase Energy, a provider of solar microinverter systems, has secured USD40m in funding with Bay Partners leading the equity financing. The round of financing also includes participation from Horizon Technology Finance, Bridge Bank and existing investors Third Point Ventures, RockPort Capital Partners, Madrone Capital Partners and Applied Ventures. "Enphase has captured significant market share in the inverter space in an extraordinarily short time frame. This financing will be used to fund our expansion plans and further strengthen our balance sheet," says Sanjeev Kumar, chief financial officer of Enphase Energy. "We are pleased to have the support of Bay Partners, Horizon