SeaWell Networks, a provider of internet video distribution products, has secured a USD7m series A round of investment, including the conversion of seed funding. Led by BDC Venture Capital, the round also included Northwater Intellectual Property Fund and Ontario Centres of Excellence. SeaWell will use the funds to expand the development and marketing efforts of its internet video streaming solutions. Streaming video and audio now account for roughly 27 per cent of global internet traffic, according to the top ISPs worldwide, and is expected to grow to over 60 per cent by 2013. SeaWell is currently developing a solution that

Sturgeon Ventures has seen the number of inquiries from City workers looking for help to set up their own businesses rise ten-fold in the last three months. Sturgeon, which specialises in helping entrepreneurs establish start-up financial services businesses in the institutional space, says City workers tired of bonus cuts and taxes as well as the restrictions of working in big organisations are finding more confidence to set up on their own this year as the shock of the financial crisis abates. It received around 25 inquiries in 2009 but it is now fielding around 20 or more a month, equating

DLA Piper has advised Elysian Capital and its portfolio company English Landscapes on the acquisition of Western Landscapes, trading as Wyevale Grounds Maintenance. Wyevale Grounds Maintenance provides hard and soft landscaping and grounds maintenance services. The company operates from ten sites around the country and has major contracts with the local authorities of the Isle of Wight, Lewes, Eastbourne, Stroud and North Somerset. Wyevale Grounds Maintenance has reported turnover of approximately GBP6m per annum over the last three years. The deal is an opportunity for Elysian to acquire a well known horticultural brand and strengthen its presence in the West

Finnish-based pan-European private equity fund of funds manager Pohjola Private Equity Funds has reached the first closing of its Selected Private Equity Funds II on EUR97m. The vehicle, which has a EUR150m target and a hard cap of EUR240m, has raised the first EUR97m from seven Finnish institutional investors. Pohjola now intends to expand its investor base by inviting selected institutional investors from outside Finland to participate in the fund. The fund will invest in a portfolio of 15 lower mid-market buyout funds across the EU countries, Norway and Switzerland. The fund of funds will target funds investing in companies

Coming off a year that saw severely diminished venture investment and deal volume in 2009, the venture capital community appears optimistic that a rebound will occur this year, with a prominent focus on the greentech sector, according to a survey by KPMG. In polling 200 venture capitalists, investors, entrepreneurs and bankers, KPMG found that 67 per cent of respondents indicated that they expect venture capital investment to increase in 2010 compared to 23 per cent in the 2009 survey. Only seven per cent see a decline in investment levels coming for 2010 compared to last year when more than half

Law firm Clifford Chance is advising Bridgepoint and newly incorporated company Warwick Bidco on the GBP281m recommended offer for health and social care provider Care UK. The transaction is the second Clifford Chance has advised Bridgepoint on in recent weeks, following on from the private equity house’s GBP257m acquisition of LGC. The Clifford Chance team was led by Bridgepoint relationship partner Kem Ihenacho and fellow corporate partner Lee Coney, with James Butters advising on debt matters and Daniel Hepburn on share schemes. Key associates were Susan Kennedy, Louise Dumican, Eleanor West and Christopher Higgins. Hammonds advised Care UK, SJ Berwin

A superior due diligence process followed by a quick transition to active owner involvement will be key to generating exceptional returns from private equity funds, according to a report by business consulting firm Bain. The research finds that new buyout funds formed and new investments made over the next three-to-five years will likely generate gross returns in the low to mid-teens on average, several percentage points below their historic levels. Bain’s analysis of private equity fund performance finds that the quality of the buy drives top returns. The best-performing buyout funds have fewer deals that end up as zeroes—just eight

Law firm Linklaters has advised Triton on the EUR850m (USD1.1bn) acquisition of Ambea from private equity firm 3i. Ambea is a provider of healthcare and care services in the Nordic region and is one of the largest European healthcare service providers. The transaction is one of the largest leveraged buyouts in the Nordic region since July 2007 and one of the largest private equity healthcare transactions completed since July 2007, according to Mergermarket.  The transaction was structured as an IPO take out process with 3i running a competitive auction process as a dual track to a proposed IPO. The Linklaters