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MMC Ventures is launching an enterprise investment scheme fund for younger investors.
From 22 March, any 18 to 35 year old who has GBP2,500 or more can invest in venture capital as an asset class, through the MMC Growth Generation Fund.
To encourage investment MMC has waived its usual management fee and subscription cost.
The fund, which benefits from EIS tax relief, provides priority access to invest in MMC’s pool of fast growing UK companies.
Rory Stirling (pictured), investment manager at MMC, says: “We felt that there was a gap in the market for a fund that encourages the
Benchmark Capital, an early-stage technology venture capital firm, has appointed Sam Pullara as an entrepreneur-in-residence.
Pullara (pictured) was most recently at Yahoo! as chief technologist, where he was responsible for Yahoo!’s product and technology strategy across the organisation.
Pullara has also spent a significant part of his career building successful start-up companies.
"I am very excited to work with Benchmark Capital, and with Peter Fenton again," says Pullara. "It is an amazing time to be starting a new venture and advising great entrepreneurs. Working closely with exceptional investors and advisers who are deeply committed to the entrepreneur’s success was an
Many alternative investment firms are lagging in internal IT, compliance, policy enforcement, business continuity planning and IT security, according to analysis by Richard Fleischman & Associates, a provider of outsourced technology and IT services.
The findings come from a 12-month review of more than two dozen RFA Due Diligence Assessments, which focus on IT, business processes and compliance.
The assessment analyses an alternative asset firms’ capabilities from an institutional investor’s perspective, identifying compliance vulnerabilities and business process deficiencies and prioritizes remedies in anticipation of investor requests.
Despite increased scrutiny from investors and regulatory agencies, the RFA analysis found
China’s venture capital (VC) and private equity (PE) market is expected to have a total capacity in excess of 2 trillion yuan by 2020, according to Xu Xiaolin, general manager of CCB International Wealth Management.
Private equity investment fared well in China in the past decade, however, most of the VC and PE firms are foreign funded.
As China gradually opens the PE sector to more institutions such as state-owned enterprises, pension funds and commercial banks, the PE sector will have more sources of funding and RMB-denominated funds will take up a dominant position, Xu noted.
Fundraising by RMB funds
Orchard Brands Corporation, a portfolio company of private equity firm Golden Gate Capital, has acquired Linen Source from The Thompson Group.
Investment bank Tully & Holland initiated the transaction and acted as the exclusive investment banking advisor to Linen Source, a direct maketer of premium bedding and home furnishings. Linen Source will now benefit from access to Orchard Brands extensive customer file.
As a USD1.1bn multi-channel marketer of apparel and home products, Orchard Brands acquired Linen Source to broaden its product offering and provide a diverse selection of high quality bedding and home décor products to its target customer.
Private equity firm Francisco Partners has completed its acquisition of healthcare IT systems provider QuadraMed Corporation.
Following the acquisition, QuadraMed’s common stock will no longer be listed for trading on the NASDAQ Global Market.
Common stockholders of QuadraMed will receive USD8.50 in cash for each share owned, while Series A preferred stockholders are entitled to receive USD13.7097 in cash for each share of Series A preferred stock owned, other than dissenting shares.
QuadraMed’s president and CEO, Duncan W James, said that Francisco Partners has "extensive resources and a proven track record of helping healthcare IT companies execute on their
Citadel Capital (CCAP.CA ), a leading private equity firm in the Middle East and Africa, has announced its first first Earnings Release since listing on the Egyptian Stock Exchange (EGX) in 4Q 2009.
As of 31 December, 2009, the firm reported a total net asset value per share (TNAVPS) of USD2.83 (EGP 5.50), while total assets under management stood at USD3.7 billion (EGP20.2 billion)
The total net asset value (TNAV) captures the present value of Citadel Capital’s principal investments in the 19 Opportunity-Specific Funds that it controls as well as ithe asset-management component of the business.
Total invested assets under
Philippe Guillemot has been appointed Chief Executive Officer of Eurazeo-owned Europcar Groupe with effect 1 April, 2010.
Guillemot succeeds Salvatore Catania, who is leaving his operational role after 35 years with the company. Catania will become Special Advisor to the new CEO to ensure a smooth transition and will continue to be closely involved in the Group’s success.
Guillemot, who was named Chairman and CEO of Areva T&D and Member of the Executive Committee of Areva in January 2004 having previously held management positions with Michelin, Valeo and Peugeot-Citroen, will focus on leading the company’s recovery following several months
The Carlyle Group and Environmental Defense Fund have launched EcoValuScreen, a business review process that aims to enhance environmental management at potential investments.
The analytic tool was developed in partnership with The Payne Firm, an international environmental consultancy.
EcoValuScreen goes beyond the traditional focus of risk mitigation during the due diligence process by identifying opportunities for operational enhancements that will lead to better environmental and financial performance before making an investment.
This process will be used by Carlyle professionals to more effectively evaluate the operations of a target company, identify the most promising environmental management opportunities and incorporate them into
Icap, an inter-dealer broker and supplier of post-trade services, has received final regulatory approval and will complete the acquisition of the remaining 61.78 per cent of stock in TriOptima on 24 March 2010.
The acquisition was announced on 5 February 2010. A total initial payment of approximately SEK1,074m is payable in cash, which will be financed from Icap’s existing debt facilities.
TriOptima will join a number of other companies in Icap’s newly formed post trade risk division.
“Icap has been developing a post-trade risk and information business to provide innovative services that enable our customers to reduce their costs and
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