Foresight Group (Foresight), a listed infrastructure and regional private equity investment manager, has sold, subject to regulatory approval, portfolio company Codeplay Software Limited (Codeplay) to a US corporate buyer on 31 May 2022. Codeplay is a UK provider of solutions for the semiconductor industry, accelerating the performance of computer chips that run Artificial Intelligence (AI) and other high-performance software.  The transaction will generate approximate gross proceeds of £48 million ($60 million SD) to funds managed by Foresight Group, equating to a 15.7x multiple on capital invested and an IRR of nearly 100% per annum.

Trovata, a fintech focused on corporate banking APIs, announced it has opened offices in London and Amsterdam to support its European expansion plans, having closed a $27 million Series B funding round, led by Fin Capital. Existing investors, JPMorgan Chase Strategic Investments, Wells Fargo Strategic Capital, Capital One Ventures, and Pivot Investment Partners, also participated in the round along with new investor NAB Ventures.

Global private equity investor the Riverside Company has added DroneCurriculum(dot)net to its iCEV platform. DroneCurriculum(dot)net develops drone-related content, curriculum and instructional materials for the K-12 market. This is an add-on to Riverside’s iCEV investment, a developer of SaaS-based digital curriculum, instructional materials and industry certifications for the Career and Technical Education (CTE) market. Founded in 2016 and headquartered in Reno, Nevada, DroneCurriculum(dot)net develops courses teaching science, technology, engineering and mathematics (STEM) concepts such as design and engineering, physics and computer programming through the application of drones, as well as drone flight and commercial drone pilot certification preparation. Riverside invested in

JPIN, the largest bilateral bank across UK and India has raised $20 million in Seed to Series A commitments to support high-growth early-stage businesses at a a fintech global investor meet. JPIN is aiming to raise another $35 million through relationships made during the pitch day in collaboration with leading global investors.  The Pitch Day hosted over 40 international investors who were presented with Seed to Series A Fintech startup deals. 

Ironbridge Equity Partners (Ironbridge) together with certain other minority investors, has completed the sale of Thermogenics to an entity controlled by Audax Private Equity (Audax). The financial terms of the transaction have not been disclosed. Over the course of its investment, Ironbridge supported management’s efforts to expand the Canadian presence of Thermogenics, establish a US footprint via acquisitions and greenfield growth, and improve internal systems and processes. Thermogenics was the eighth investment in Ironbridge’s second private equity vehicle, Ironbridge Equity Partners II, LP, a fully committed $154 million fund.

Insilico Medicine, a clinical-stage end-to-end artificial intelligence (AI)-driven drug discovery company, has completed a $60 million Series D financing from a syndicate of global investors with expertise in investing in the biopharmaceutical and life sciences sectors.

Victor Capital Partners (Victor Capital), a middle market private equity firm investing in branded, mission-driven companies in specialty consumer, industrial technology, and business service industries, is to sell PrimaLoft to Compass Diversified. PrimaLoft is specialist in the research and development of advanced insulations and fabrics that global brands use to deliver high performance and comfort while also reducing impact on the environment. Victor Capital acquired a majority interest in PrimaLoft in 2017 in partnership with the management team, which maintained a significant investment in the business.  The transaction is subject to customary closing conditions, including receipt of required regulatory approvals,