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Nordic Capital reached the EUR6.1billion hard cap for its tenth fund, its largest fund to date, within six months, with the entire fundraising process having been completed remotely, without any face-to-face meetings. 

Fund X, which was launched in April 2020, will be focusing on majority investments in non-cyclical growth companies in the healthcare, technology & payments and financial services sectors.

“To close at the hard cap in less than six months during the Covid-19 pandemic is a fantastic achievement that highlights the strength of our LP relationships and the considerable confidence that our blue-chip investors have in Nordic Capital,” said Kristoffer Melinder, managing partner, Nordic Capital Advisors.

Advent International said on Tuesday it has raised a USD2billion fund to invest in Latin American companies, aiming to target assets made cheaper by depreciation in their local currencies.

According to reports, Abu Dhabi-based sovereign wealth fund Mubadala Investment is making an investment in tech-focused PE firm Silver Lake, while KKR, Bain Capital and Blackstone have expressed interest in acquiring a controlling stake in pharmaceutical manufacturing company Granules India Ltd.

Vienna-based investment and trading platform Bitpanda raised a USD52 million Series A funding round, Europe’s largest series A funding round of 2020, led by Peter Thiel’s Valar Ventures. Founded in 2014, Bitpanda is a retail broker for cryptocurrencies such as bitcoin, ethereum and litecoin. Andrew McCormack and James Fitzgerald, managing partners of Valar Ventures, will take seats on the platform’s board following the deal.

A company backed by the Permira funds led a Series F round of USD92 million in Seismic, a sales enablement and marketing orchestration platform provider. In addition to its primary capital investment, the Permira funds have also made a secondary investment, becoming Seismic’s largest shareholder. This round brings the total raised by Seismic to around USD270 million to-date and values the company at close to USD1.6 billion.

Karin Wasteson
Editor, Private Equity Wire



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