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TLG Capital has expanded its team by hiring Jamel Larbi from Merrill Lynch and Shaheryar Mian from Hewitt Associates.
TLG Capital is a frontier markets entity aiming to deploy intelligent capital with ethical considerations.
Both Larbi and Mian will report directly to Zain Latif, principal of TLG Capital.
Prior to joining TLG Capital, Larbi was part of the emerging markets capital markets team at Merrill Lynch in London. Larbi worked on transactions across corporates, financial institutions and sovereigns clients in Emerging Markets, notably Mena, Sub-Saharan Africa and Eastern Europe.
Mian joins from Hewitt Associates where he worked in
Venture capital firms Index Ventures and Accel Partners have sold their portfolio company Playfish to Electronic Arts.
Playfish, a social gaming company, was acquired for a consideration of up to USD400m including an earnout of up to USD100m and excluding cash balances.
Kevin Comolli, board member from Accel Partners, says: "As the original institutional seed investor in Playfish it has been a pleasure to work with the founders and management team and to see them achieve such extraordinary growth. Playfish has been recognised in the industry for its innovation and creativity and continues to change the way people play games
Michael Cant (pictured), partner at Nabarro LLP, outlines the implications of the recent tax residency case, Laerstate BV v HMRC.
It comes as no surprise that, as UK tax revenues fall, HM Revenue & Customs ("HMRC") seek to take a tougher line on those claiming to fall outside the UK tax net. The rising number of corporate migrations is making residency a hot topic, with a significant percentage of UK commercial property being held in offshore vehicles (for example, in non-UK resident companies and unit trusts). One of the key benefits of such vehicles is that they fall outside the
Quoin Partners has appointed Nathan Dean as senior partner.
Dean has deep experience in the alternative asset and investment management industries as well as being an experienced entrepreneur.
He joins Quoin from The Druker Company, where he was a project director in charge of commercial real estate investment, managing large networks of providers in the firm’s acquisition and development initiatives.
Prior to Druker, Dean worked for Davidson Kempner Capital Management and JPMorgan Investment Management where he sourced new opportunities, provided detailed financial and strategic analysis, and managed the entire investment process for both funds.
Dean started his career at Banc
Tailwind Capital, a private equity firm focused on growing companies in the healthcare, business services and media/communications sectors, has completed an investment in SDI Health.
SDI is a healthcare analytics provider based in Plymouth Meeting, Pennsylvania.
Tailwind joins SDI founder Andrew Kress and Philadelphia-based LLR Partners as investors in the company.
“We look forward to working with Tailwind and LLR to build the foremost healthcare information and services company,” says Kress. “Tailwind’s expertise and experience in working with growth businesses in the healthcare and business services industries will be invaluable as we continue to broaden our industry coverage and expand
Hercules Technology Growth Capital, a finance company providing venture debt and equity to venture capital and private equity-backed technology and life science companies, has committed to provide Labcyte with USD5.5m in credit facilities.
“Hercules believes the life science research and development market presents a huge opportunity for Labcyte. In 2008, the pharmaceutical and biotechnology industries spent approximately USD65.2bn on R&D activities,” says Kathy Conte, managing director of life sciences at Hercules. “The unique Labcyte technology, as embodied in their Echo liquid handlers, coupled with their solid business plan and strong management team, makes the company a welcome addition to our
The performance of private equity and venture capital investments improved in the quarter ending 30 June 2009, but difficult economic conditions continued to challenge both asset classes, according to Cambridge Associates.
During the second quarter of 2009, the Cambridge Associates Private Equity Index earned its best return since the end of 2007. The quarter also marked the end of a string of three consecutive negative quarters for the Venture Capital Index.
Though bettered by a number of public market indices during the first half of 2009, the long-term performance of private equity and venture capital continued to outstrip public equity
J.P. Morgan has been appointed by New York-based Greylock Capital Management to provide private equity fund administration.
Greylock Capital is an alternative asset manager focused on emerging markets in Africa, Asia, Eastern Europe and Latin America.
J.P. Morgan Private Equity Fund Services will provide Greylock Capital with a set of services including fund and partnership accounting, capital call/distribution management, and investor tracking, along with investor relations support and treasury services. Tax compliance services, management and financial reporting, and waterfall/carry plan administration will also be provided.
“We are pleased to be working with an emerging markets manager like Greylock Capital,” says
DN Capital, a media and technology early stage and growth capital investor, has completed a series A investment into Target 250, a global supplier of demand generation services for business-to-business technology firms.
DN Capital’s equity investment is the first institutional capital investment in Target 250, which will use this strategic funding to broaden its sales and marketing reach in the UK, North America and other international markets.
Target 250 offers a broad range of demand generation services and products used by over 800 technology firms of all sizes, from venture backed start-ups to global 500 enterprises. These services include
Apprenda, the creator of the world’s first SaaS application server, has closed a USD5m investment round led by global venture capital firm New Enterprise Associates.
Existing investor High Peaks Venture Partners also participated in the round of funding.
SaaSGrid provides a solution to the architecture and management complexities of delivering software across distributed web scale environments.
Cloud computing is driving software companies toward on-demand delivery models and enterprises toward aggregating internal and external compute resources into cohesive delivery networks for their internal software. SaaSGrid, a distributed application execution layer, mitigates the traditional burdens associated with tackling these trends.
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