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Sun King, a provider of solar energy products for off-grid homes in Africa and Asia, has expanded its Series D funding round to $330m through an additional $70 million equity investment led by LeapFrog Investments (LeapFrog).
The investment is an extension of Sun King’s initial $260 million Series D, which was led by General Atlantic’s BeyondNetZero and M&G Investments in April 2022, and includes $38 million of additional primary investment. The funds will support the company’s plans to make consumer-financed solar power available to the 1.8 billion consumers across Africa and Asia who lack access to reliable electricity.
The Series
Lower middle market private equity firm TELEO Capital Management has made a majority control investment in Sharpen Technologies Inc, the provider of a cloud-native contact centre platform with a focus on solutions for multiple industries, including financial services, technology, retail, and healthcare.
Middle-market private equity firm Gryphon Investors is to sell its portfolio company Heritage Distribution Holdings to Beijer Ref, a worldwide distributor of commercial refrigeration, industrial refrigeration, and air conditioning.
Insight Partners is considering selling Community Brands, a provider of software applications for donations, peer-to-peer fundraising, admissions and events, for up to $2 billion, including debt, according to a report by Bloomberg.
HIG Capital has sold its majority interest in portfolio company Milestone Technologies, a global IT services firm to private equity firm The Halifax Group. HIG will maintain a minority stake in the company post-closing, while private equity firm Two Sigma Impact has also made a minority investment.
VSS Capital Partners, a private investment firm focused on the healthcare, education, and business services industries, has held the final close of the VSS Structured Capital Fund IV (VSS SC IV) at $530 million, significantly in excess of its $400 million target.
Anchorage Capital Partners is closing in on a deal to acquire Australian department store chain David Jones for up to AUD130 million, with chief executive Scott Fyfe expected to remain as head of the business post-acquisition, according to a report by the Financial Review.
Key executives including Woolworths Holdings Ltd boss Roy Bagattini reportedly flew to Australia over the weekend and left on Monday having approved a sale of the business in a transaction estimated to be worth between AUD120 million and AUD130 million.
South Africa-based Woolworths paid AUD2.1 billion for David Jones in 2014 and has since made over
US Venture Partners, a Silicon Valley venture capital firm, has closed USVP XIII, a $400 million fund focused on Series A and B investments in cybersecurity, enterprise software, consumer and healthcare businesses.
Nerdio, a virtual desktops specialist for native Microsoft technologies, has raised $117 million in Series B funding from growth equity investor Updata Partners.
As part of the investment, Updata secured a place on Nerdio’s Board of Directors, joining existing members Gavriella Schuster, Microsoft’s former Global Channel Chief, Andy Lees, another former top Microsoft executive who served as President and Corporate Vice President during his 23-year tenure, Bret Maxwell, Managing General Partner, MK Capital, and Vadim Vladimirskiy, Nerdio CEO and co-founder.
Nerdio previously raised a $8 million in a Series A round in February 2020 led by Vladimirskiy, MK Capital,
CEPRES, a specialist in private market data and investment technology, has launched an expanded version of the CEPRES Fund Screener, which now provides benchmarks to over 11,000 institutional-grade illiquid funds invested in 108,000 PE-backed portfolio companies.
The upgrades to Fund Screener, part of the firm’s Due Diligence suite, include: enhanced track record analytics; sharing of funds, deals, time series and portfolio company data; benchmarking; and the ability to communicate and request investment data from more than 2,000 GPs via CEPRES’s confidential data network — fundamentally improving user experience and track record analysis impact.
Fund Screener provides LPs with analysis
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