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Catalyst UK and Singapore-based iAxil, the venture accelerator arm of Asian conglomerate Ascendas, have joined forces in a European/Asian partnership.
The co-venture will support and assist both European-based companies wishing to access the Asian market, and Asian-based companies seeking to penetrate European markets.
The partnership offers companies an inside track into each market. It will develop contacts, carry out due diligence on potential partners/customers and negotiate deals.
Richard Turner of Catalyst Venture Partners says: "This is such an exciting time in the development of east/west trading relationships. I am delighted that we can offer our portfolio and other companies access
Tax should not be used as a political football, used to score easy goals, says ACCA (the Association of Chartered Certified Accountants) in response to Chancellor Alistair Darling’s Pre-Budget Report (PBR).
“The so-called ‘supertax’ on bank bonuses is actually a levy, a one-off charge aimed at dampening down the political heat surrounding bankers’ bonuses,” says Chas Roy-Chowdhury, head of taxation at ACCA. “The company will have to pay a 50 per cent levy on bonuses above GBP25,000. It could mean that banks will rethink their bonus and remuneration packages. Banks could end up not paying bonuses at all.
“Given the
A cross-border team from international legal practice Norton Rose has advised the Aspria Group, a European spa and family sporting club operator, on the acquisition of Harbour Club Sporting and Spa in Milan.
The Aspria Group owns and operates health and sporting clubs in Germany and Belgium.
The Norton Rose team, based in London and Milan, was led by Ian Fox (corporate finance partner, London office) and Paolo Daviddi (international managing partner, Italy).
Norton Rose senior associate Rebecca Oliver (London office) and partner Gennaro Mazzuoccolo (Milan office) advised on finance issues in the context of the acquisition.
The law firm
DisplayLink, a specialist in the USB graphics market, has received USD8m in venture capital funding.
The series C venture capital round came from Atlas Venture, Balderton Capital (previously Benchmark Capital Europe), DAG Ventures, and DFJ Esprit.
The company has also appointed semiconductor industry veteran Craig Ensley as chief executive officer and chairman of the board of directors. Ensley was previously with Peregrine Semiconductor where he served as president, chief operating officer and board member. He brings to DisplayLink more than 30 years of leadership in marketing, engineering and management of both startup and public semiconductor and systems businesses.
“Craig brings
Evofem, a women’s healthcare company located in La Jolla, California, has received a USD25m investment from a private equity firm in Europe.
Evofem (formerly Instead Healthcare) currently markets a feminine hygiene product, Instead Softcup, an alternative to pads and tampons, available in pharmacies and retail stores across the US and abroad.
Additionally, the company has been active in developing technologies in the field of women’s reproductive health.
Evofem’s lead drug candidate, Amphora, is currently being evaluated to protect women from pregnancy and a variety of sexually transmitted diseases including the AIDS virus.
Tommy Thompson, former Secretary of Health and Human
Adveq Holding and Dalian United Holding have formed a jointly owned investment management company in China.
The company will be the first non-government private equity fund of funds investment company in the People’s Republic of China.
The new entity’s purpose is to pursue investment management and related service activities in private market investing in China. The initial prime focus will be the formation of RMB denominated private equity fund of funds and related service activities in China.
Dalian’s chairman Zhenxin Zhang says: “Looking at the Chinese market, we see tremendous opportunities to develop our activities within the scope of RMB
Guernsey’s Chief Minister Lyndon Trott has told a major London conference that the island should not be “dismissively” compartmentalised as an offshore centre.
He was speaking at The Future of Onshore and Offshore Financial Centres Conference alongside Jeffrey Owens, director of the Centre for Tax Policy and Administration at the OECD, and Michael Foot, chairman of the Promontory Financial Group and author of the recent HM Treasury commissioned report into the British Crown Dependencies and overseas territories.
The Chief Minister said the onshore/offshore distinction was outmoded in the modern globalised economy.
Instead he highlighted the island’s position in the Global
NorthStar Equity Investors has been selected by Northern Film and Media and regional development agency One NorthEast to manage a GBP2.4m fund.
The Creative Fund will be used to invest in creative companies and the commercial content that they are developing and producing.
It will be open to both companies indigenous to the North East and those wishing to base production in the region.
The fund will formally launch in early 2010, but NorthStar is keen to start meeting interested entrepreneurs from the film, TV, interactive media, games and music sectors in the region straightaway.
It follows Northern Film and
2010 will see a significant growth in the clean technology and information technology sectors, according to a report by recruitment consultancy Polachi.
As the economy pulls out of a recession, the job market is changing with information technology and clean technology gaining speed.
The company says that with an increasing demand for C-level executives in technology and a shortage of talent, there are a number of opportunities.
Although the job market will take time to stabilise, the economy is turning and economists are optimistic about 2010.
“Since Labor Day, we have seen a dramatic increase at the executive level in
The past 12 months have demonstrated graphically the vital importance for investors in alternatives of minimising the downside risk associated with extreme market conditions.
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