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Employee engagement platform WorkBizz has raised £1.5 million in an investment round from from its existing backers Mercia and Foresight, both of which invested via the Midlands Engine Investment Fund (MEIF), alongside funding from private investors.
The Milton Keynes-based company has more than doubled the size of its team since the original investment in March 2021, and now employs 35 staff, with plans to create an additional 15 jobs by the end of the year. Revenue has also more than doubled to £2m, while annual recurring revenue is continuing to grow by around eight per cent a month.
The
Venture capital firm Mountain Group Partners (Mountain Group) has closed the its third fund, MGP Venture Fund III (MGP Fund III), above target at $128 million.
Mountain Group will continue its strategy of investing in early-stage companies within human and animal life sciences and disruptive technologies.
MGP Fund III has already made five investments including two in the fast-growing animal health sector. In May 2022, the Firm partnered with Merck Animal Health and NovaQuest Capital Management in co-leading a $35 million Series C financing for Targan.
Another primary focus for MGP Fund III will be in diagnostics, a sector in
Luminate Capital has named Lucy Li as managing director, Portfolio Finance, based in San Francisco.
Prior to Luminate, Li worked in finance and business planning at Meta (formerly Facebook Inc). Her previous experience also includes investment banking at JPMorgan and private equity investing at Genstar Capital.
Li graduated from the Massachusetts Institute of Technology (MIT) with a BS in Management Science and received an MBA and an MA in Education from Stanford University.
Doorvest – an online platform facilitating the ownership of high-yield rental homes – has secured a new $50 million asset backed credit facility with Pollen Street Capital, a fast growing, purpose led and high performing private capital asset manager.
Launched in 2020 and based in San Francisco, Doorvest’s mission is to reduce barriers for average Americans to generate passive income by owning rental properties. Doorvest gets to know a customer and their investment goals before identifying and buying a property on their behalf, manages the renovations and places a resident in it, then sells the property back to the customer.
Clearlake Capital portfolio company Alkegen, a specialty materials platform that provides high performance materials used in advanced applications such as filtration media, battery technologies, high temperature insulation and fire protection, has acquired a controlling ownership interest in Luyang Energy-Saving Materials (Luyang), a Shenzhen A-share listed platform headquartered in Yuquan, Shandong province, China.
Luyang produces energy-saving materials in the fields of ceramic fibres, soluble fibres, alumina fibres, and other high temperature insulating materials, and has been partnered with Alkegen since 2015.
Seed-stage venture capital firm True Wealth Ventures has held the close of its oversubscribed Fund II with $35 million in capital commitments.
The seed-stage VC firm focuses on maximizing the number of women in its funds to invest in women-led companies.
Fund II’s close follows True Wealth Ventures’ 2018 $19.1 million Fund I close — the largest venture capital fund ever raised at that time with an explicit gender-diversity strategy. Fund I’s 80% women limited partners was unprecedented. True Wealth’s total AUM is now about $60 million.
Founding General Partner Sara Brand and General Partner Kerry Rupp lead True Wealth
OGCI Climate Investments (OGCI CI), a specialist decarbonisation investor, has invested in KeyState Natural Gas Synthesis (KeyState), a project company developing the first carbon capture and storage project in Pennsylvania, US.
The project will integrate natural gas extraction, ammonia and automotive grade urea production, and CCS on a single 7,000-acre site.
The KeyState project could deliver significant near-term emissions reduction by storing CO2, as well as avoiding methane and CO2 emissions thanks to onsite natural gas production and vertical integration, and reduced transportation distance of products. Once operational, the site will enable CO2 cluster development to permanently store over
PennyWorks, a DeFi-based platform that tames the turbulence of investing with a safe and stable experience, has closed a $2 million pre-seed funding round led by Hi2 Global.
This round of financing will help bring the PennyWorks platform to market while funding platform development, marketing, and operations.
The funding round included additional participation from Zachary Harl, former Chief Investment Officer at Bank of America, Putra Manggala, former Staff Data Scientist at Shopify and Leo Mizuhara, Head of Systematic Trading; Fixed Income Options at DRW Holdings, LLC.
PennyWorks recently launched in April offering accredited investors the ability to invest in opportunities
New York-based private investment firm Tiger Global has led a $25 million Series A funding round in Battery Smart, a battery-swapping network for two- and three-wheeled electric vehicles (EVs), according to a report by Deal Street Asia.
Blume Ventures and Orios Ventures also participated in the round having led Battery ventures $7 million pre-Series A round in November 2021.
Co-founded by serial entrepreneurs and IIT-Kanpur graduates Pulkit Khurana and Siddharth Sikka, the India-based startup is planning to use the new funding to broaden its geographic footprint, boost its technology and add to its team.
UK boxing promoter Matchroom is reported to be in talks to sell a manirity stake in the business to a private equity investor, according to Private Equity Insights.
The report cites a Twitter announcement by boxing analyst Michael Benson which claims that Matchroom CEO Eddie Hearn and his father Barry are set to pocket a substantial profit if the deal, which values Matchroom at between £600 million and £700 million, is completed. That would see the father and son duo receive up to £175 million if they opt to sell 25% of the business.
Matchroom currently promotes some of boxing’s
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