Navigation Capital Partners, an Atlanta-based middle market private equity firm, has acquired Specialized Technical Services, a provider of smart grid infrastructure upgrades and meter-related services to municipal, co-operative and investor-owned utilities. STS is the first in a series of acquisitions planned by NCP in support of its initiative to build a provider of value-added field and data management services to electric, water and gas utilities. STS, based in Richmond, Kentucky, provides a wide range of solutions designed to enhance a utility’s ability to monitor and manage its assets. NCP has appointed Robert E. Shively, a member of its executive-in-residence programme,

ngmoco, a publisher and developer for iPhone OS devices, has raised a new round of financing led by Institutional Venture Partners along with the company’s previous investors, including Kleiner Perkins Caufield & Byers, Norwest Venture Partners and Maples Investments. IVP general partner Sandy Miller has joined ngmoco’s board of directors. “We’re delighted that IVP shares ngmoco’s vision for creating and distributing freemium entertainment for the mobile internet,” says Neil Young, chief executive of ngmoco. “We’re looking forward to growing ngmoco both organically and strategically as we strive to build the very best next generation mobile entertainment company.” In 2009 ngmoco

CellCentric, a Rainbow Seed Fund investment, has licensed exclusively to Takeda Pharmaceutical Company the development and commercialisation of an epigenetic discovery programme focused on cancer. Under the terms of the new agreement, CellCentric will receive from Takeda an upfront payment and pre-clinical and clinical milestones, in addition to royalties. Based on the royalties and milestones defined, the overall deal could be worth in excess of USD200m to CellCentric over the course of the agreement. Therapeutic research will be initiated by Takeda’s research group. Development of molecules stemming from this agreement will be completed by Millennium: The Takeda Oncology Company, which

Religare Enterprises, a financial services group focusing on emerging markets, has approved a commitment of up to USD1bn for investments in asset management businesses. The board has approved an initial investment in Northgate Capital, a private equity and venture capital firm with principal offices in the San Francisco Bay Area and London. The parties have signed a definitive agreement for Religare to acquire a majority equity interest in Northgate’s management company. Northgate’s five partners will continue to retain controlling interests in Northgate’s general partner entities and will also maintain a significant equity stake in the management company. In addition, there

OrbiMed, an investment management firm focused on the healthcare sector, has launched its next venture capital fund, Caduceus Private Investments IV, with USD550m in limited partner commitments. Approximately 80 per cent of the new fund’s capital is from returning investors, and the fund’s partners include some of the largest pension plans, endowments, foundations, and sovereign funds globally. Consistent with its predecessor funds, the new fund will invest primarily in venture-stage biopharmaceutical and medical device companies located in North America and Europe. The new fund is expected to be invested over a three to five year period with individual investments ranging

Private equity firm Global Environment Fund has made an investment of USD30m in UPC Renewables China, an independent renewable energy producer with specific focus in wind energy development. The investment will be dedicated to wind power development in China, where UPC has 150 MW in construction and more than 3 GW of pipeline projects. Global Environment Fund is the only outside investor and holds two seats on the board of directors of UPC. "UPC has been working in China since 2006, and we have seen this market go from a standing start to one of the largest in the world

RedPrairie Holding, a productivity solutions provider, has entered into a definitive agreement to be acquired by a fund affiliated with New Mountain Capital, a private equity firm. RedPrairie says the acquisition will enable it to accelerate its growth rate while enhancing its commitment to customer success. "Our objective is to be the leading provider of productivity solutions for manufacturers, distributors and retailers," says Mike Mayoras (pictured), RedPrairie chief executive. "Our relationship with New Mountain Capital will allow us to reach our strategic goals quickly, efficiently and with certainty. We believe there are significant opportunities to provide more value to our

Nearly half of venture capital providers say lending will be more restrictive in the next 12 months, according to a study by Pepperdine University’s Graziadio School of Business and Management. At the same time, 70.5 per cent agree that demand for venture capital will grow. Findings on the venture capital industry also shows that investing in clean tech companies is now more popular than software and medical devices. VCs report investing the largest concentration of money in clean tech (14.5 per cent) followed by software (13.5 per cent), medical devices (12.2 per cent) and biotech (9.8 per cent). More than