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Global online betting operator PlayUp has entered into a business combination agreement with SPAC company IG Acquisition Corp to list on NASDAQ via a newly-formed Irish company at a $350 million value.
Founded in 2014, PlayUp builds its own integrated technology platform where consumers can engage in various forms of betting, including daily fantasy, sports betting, slots, table games, casino games, Esports, lottery and sweepstakes.
PlayUp’s gross revenue has grown 56% year-on-year as of June 30.
After almost two years of looking at a vast number of industry players, the IGAC team concluded that PlayUp was the company most likely
Mega-buyout deals are becoming increasing difficult to execute due to problems in “getting the equity”, according to Orlando Bravo, the billionaire co-founder of software and tech-focused private equity investment firm Thoma Bravo.
A report by BNN Bloomberg cites an interview with Bravo on the sidelines of this week’s IPEM private capital conference on Cannes, France, during which he highlighted the issues including monetary tightening on the part of the US Federal Reserve and other central banks leading to increased borrowing costs, and falling equity values making it more difficult for buyers and sellers to agree on deal prices.
According to
BlackRock Long Term Private Capital (LTPC) is to acquire a majority interest in Paradigm Oral Health (Paradigm), an oral surgery and digital dentistry platform, from shareholders including InTandem Capital Partners.
LTPC will partner with Paradigm’s executive leadership team, led by founder and CEO Dr David Rallis, to support the company’s continued expansion and strategic growth plans.
Founded in 2018, Paradigm has developed an model designed to attract and retain best-in-class surgeons focused on delivering the highest quality of oral health care and dental implant surgery while fostering a medically-driven, patient-friendly culture of excellence. The company partners with leading oral surgery
HarbourVest Partners has held the final close of its twelfth flagship US fund, HarbourVest Fund XII, which closed above its $2.0 billion target at over $3.0 billion, including the General Partner commitment.
Fund XII provides investors with access to high-quality buyout, micro buyout, venture capital, and growth equity investments predominantly in the US through primary partnership investments and is complemented by secondary and direct co-investments. The programme aims to provide investors with compelling returns, while reducing risk through diversification.
The fund was supported by over 78 limited partners from four continents, including public and private pension funds, insurance companies, endowments,
Theorycraft Games has raised an additional $50 million in Series B funding, led by Makers Fund with participation from NEA and a16z.
Theorycraft Games will use this raise to continue building out the most talent-dense team in games and to ensure they can keep making deep, 10,000 hour games that are just better when played with friends, like the company’s first game, codenamed Loki.
Featuring an expansive cast of unique heroes, Loki, is a competitive, team-based game of adventure, creativity, and high-stakes combat. With inspiration drawn from Theorycraft’s past collective experiences working on titles like League of Legends, Overwatch, Halo,
AnswerLab, an independent UX research firm, has secured a strategic investment from Shamrock Capital, a Los Angeles-based investment firm specialising in media, entertainment, communications and related sectors.
The investment will drive continued growth and expansion of AnswerLab’s service offering and team as it seeks to deliver critical insights for enterprises looking to improve engagement, reduce costs and increase conversion on their digital products.
Founded in 2004 by CEO Amy Buckner Chowdhry, AnswerLab helps enterprises with their digital transformation efforts by offering research services in digital strategy, optimisation and measurement across the product development lifecycle. With its suite of research
Souter Investments, a private equity focussed family investment office, is to sell Stone Technologies Group (Stone), a provider of Circular IT solutions, to Toronto Stock Exchange listed Converge Technology Solutions Corp. (Converge), a software-enabled IT & Cloud Solutions provider.
Souter acquired a majority stake in Stone in 2019, investing alongside the Company’s management team and a syndicate of investors managed by private equity house RJD Partners.
Since acquisition, Stone has grown strongly and expanded its range of products, services, and solutions. This includes the roll out of the market leading Stone 360 IT recycling app, which makes management of end-of-life
Stellus Capital Management, a specialist in middle market direct lending, has partnered with +SUBSCRIBE, an order management and electronic subscription document platform for the alternative investments industry.
Stellus joined the +SUBSCRIBE platform with the goal of providing the firm’s limited partners with an innovative digital experience for investor onboarding, electronic subscription documents, and integrated transaction workflows with the fund administrator and other service providers. +SUBSCRIBE provides institutional investors, fund managers, and service providers with the alternative investment industry’s leading order management system for alternative product transactions.
The platform includes reusable universal investor profiles, eSubDocs, a digital offering that automates
Carey Olsen and Langham Hall have advised venture capital firm Telstra Ventures on the successful launch and final close of Telstra Ventures Fund III (the fund) with $350 million in capital commitments.
The fund aims to expand Telstra Ventures’ diversified portfolio of technology focused companies, offering entrepreneurs access to revenue growth and accelerated global reach.
The Carey Olsen team advising on the Guernsey legal and regulatory aspects of the Fund’s establishment comprised partner David Crosland and counsel Andrew Tually.
Langham Hall has been working with the Telstra Ventures team since their spin out in 2018 and provides fund administration services
The INVL Renewable Energy Fund I, managed by INVL Asset Management is to acquires six solar projects in Romania with a total capacity of 102.7 megawatts (MW).
Following the completion of these transactions, the INVL Renewable Energy Fund I portfolio of projects under management in Romania will increase to 268.7 MW. In addition, all the solar projects within the Fund’s current portfolio have already secured approved grid connection terms.
Subsequently, the fund’s overall investment into Romania will now exceed EUR200 million, factoring in existing solar power plant projects that have been in development there since June 2022. It is also
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