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Synergex, an international sales, marketing and distribution company, has closed private equity placements with several of its insiders, resulting in proceeds of approximately USD85,000.
The proceeds will be added to the company’s working capital in exchange for common shares issued from treasury.
The company received full consideration for the issuance of an aggregate of 242,859 common shares of Synergex from treasury. It received consideration at a fixed price of USD0.35 per share, representing a premium to the market price of the common shares.
"We are making progress in our objective of supporting the company’s bottom line growth. The investments made
Mourant International Finance has topped Lipper’s league table of fund administrators for funds serviced in Jersey.
Mourant had net assets of USD72.4bn at 30 June 2009.
The next largest administrator was Bedell Trust with net assets of USD22.4bn, followed by Saltgate (USD15.9bn), Aztec Group (USD13.7bn) and R&H Fund Services (USD13.5bn).
PricewaterhouseCoopers topped the Jersey auditor league table with 717 funds, followed by KPMG (373 funds), Ernst & Young (253) and Deloitte (105).
The custodian with the highest net assets at 30 June was BNP Paribas (USD20.2bn), followed by UBS (USD8.6bn) and Standard Bank (USD7.9bn).
Mourant du Feu & Jeune was
A.P. Pharma has entered into a definitive securities purchase agreement with existing investors for a private placement of up to USD13.1m in two tranches.
Participants in the transaction were Baker Brothers Investments, Tang Capital Partners, Tavistock Life Sciences and Deerfield Partners.
The first tranche will consist of common stock and warrants with aggregate proceeds of approximately USD8.1m, and the second tranche of common stock with proceeds of approximately USD5m.
A.P. Pharma expects to complete the first tranche of the private placement on 22 October 2009, subject to the satisfaction of customary closing conditions.
Pursuant to the terms of the securities
Accel Partners, a global venture capital and growth equity firm, has appointed Neeraj Bharadwaj as a managing director to help build its growth equity investing initiative in India.
Bharadwaj (pictured) joins Accel from Apax Partners India, where he was managing director and country head.
At Accel, he will be responsible for scaling the growth stage effort, which will target USD10m to USD50m investments in mid-sized Indian companies across different sectors. This initiative will complement Accel’s existing venture capital activity in India, which targets smaller investments and active involvement in high potential early stage companies.
The Accel India venture portfolio includes
Hedge funds and private equity houses need to be prepared for a backlash in the wake of the credit crisis, according to Roland van den Brink, board member at Mn Services.
Speaking to pension funds and wealth managers at a recent seminar hosted by Rob van Kuijk, chief executive of Finles Capital Management, van den Brink said: “There is pressure on governments and at the EU-level for more regulation of the alternative investments industry. There is going to need to be greater transparency and pension boards will have to know what they are investing in. Returns, risk and rewards will
Clinverse, has completed a series A financing of USD2.2m to assist its development of ClinPay, the pharmaceutical industry’s first eClinical trial payment network.
The investment syndicate comprised current investors and Vital Financial.
Umair Akeel has joined Clinverse as its chief technology officer. Akeel was an inventor and the chief architect during the development of IBM’s InfoSphere Traceability Server.
Clinverse president Steve Ayala says: “We are pleased to have rounded out our investment with significant funding from Vital Financial. Not only is Vital adding to our capital base, but they also are contributing their team’s experience in growing successful software companies.
Yorkville Advisors, the US based investment manager to a family of funds, has entered into a KRW12bn equity line facility with Yujin Robot.
Under the terms of the facility, Yujin Robot may issue ordinary shares to Yorkville in tranches at prices based on certain criteria at any time over a 24 month period for up to a total of KRW12bn.
The investment was sourced out of Hong Kong and made by YA Global Master SPV, a Yorkville affiliated fund.
Yujin Robot is a Seoul, Korea-based technology company focused on development, manufacture and distribution of robots for residential, industrial and military
Venture Capital firms invested USD77m over 17 deals in India during the three months ending September 2009, according to a study by Venture Intelligence in partnership with the Global India Venture Capital Association.
The amount invested during the period was significantly lower compared to the same quarter in 2008 (which had witnessed USD298m being invested across 55 deals), but higher compared to the immediate previous quarter (USD64m across 17 deals).
“There return of confidence in emerging markets in general and India in particular is now getting reflected in the quarter-on-quarter numbers,” says Sudhir Sethi, director of GIVCA and founder, chairman
The Rainbow Seed Fund, a fund investing in early stage technology companies, says five of its investments raised over GBP22m over the summer.
The Rainbow Seed Fund is a GBP10m independently managed seed capital fund dedicated to investing in technologies from its publicly funded research base of ten partners who collectively spend over GBP1bn on research annually.
Set up in 2002, to date Rainbow Seed Fund has invested over GBP5m in helping to create 22 spin out companies which between them have raised well over GBP60m of additional capital.
Dr Andrew Muir, investment director at the Rainbow Seed Fund, says:
Guernsey is reviewing its corporate tax regime in line with its agreed fiscal and economic strategy.
The island’s current “zero-10” corporate tax regime was introduced on 1 January 2008. In subsequent discussions, officials from the UK Treasury confirmed that it was compliant with international standards and the EU Code of Conduct.
Jersey and the Isle of Man followed a broadly similar approach.
However, all three Crown Dependencies recognise that the recent and unprecedented changes in the world economy have led to shifts in perceptions and attitudes across the globe.
At meetings held on Tuesday between the Crown Dependencies and
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