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Wol Kolade (pictured), managing partner of London-based private equity firm Livingbridge, is one of the brains behind the #100blackinternscampaign. Over 100 firms in the City of London have signed up to the program so far, offering internships in finance to people of colour, in only six to eight weeks. Private Equity Wire sat down with Kolade to learn more.
NEWS
European software investor Hg’s Saturn team and its investors have agreed to a further majority investment in software company Visma, valued at USD12.2 billion in the world’s largest ever software buyout.
The Hg Saturn 2 Fund will purchase the stake from Montagu, a European private equity firm which has been an investor in the business since 2010, and other investors including Hg’s Genesis 7 Fund which will reduce its holding in Visma.
Warburg Pincus and TPG will invest in the company for the first time, acquiring minority stakes. Existing investor CPPIB will increase its stake, alongside other current co-investors in
NEWS
Berlin-based deep tech company Apheris has raised EUR2.5 million to enable companies to analyse data without compromising privacy.
NEWS
HSBC Global Asset Management has closed its HSBC Vision Private Equity 2020 Fund at just over USD260 million.
Investors in the fund, which will invest in a number of private equity opportunities from primaries and secondaries to direct co-investments, include HSBC Private Banking and HSBC Global AM’s institutional clients.
The HSBC Vision Private Equity 2020 Fund is a continuation of last year’s programme, which raised 250 million globally. The next in the series of Vision funds is intended to launch in Q4 2020.
The annual programme of Vision funds provides exposure to a global diversified portfolio by geography,
NEWS
Lever VC, an alternative protein VC fund whose partners were investors in Beyond Meat, Impossible Foods and Memphis Meats, has held a first close of its first fund, which currently has USD23 million in commitments.
DEALS
Palo Alto-based Social Capital, a tech holding company founded by Chamath Palihapitiya that supports innovative companies in healthcare, artificial intelligence, climate change and space has acquired Hustle, a peer-to-peer text messaging platform.
Chief executive officer Steven Pease and the Hustle management team will continue in their roles following the deal.
Founded in 2014, Hustle offers peer-to-peer text communication tools that create human connections between organisations and their contacts. Hustle’s TCPA compliant platform enables two-way conversations that develop connections over text messaging, eliminating barriers and igniting support for advocacy groups, fundraising, admissions and recruiting.
Organisations using Hustle already include the American
ACCOUNTANCY
Along with the Covid-19 pandemic’s tumult, alternative investment fund managers have had to face a number of tax changes that are anticipated to have a tremendous impact on their business.
NEWS
Texas-based private investment firm Andros Capital Partners has closed its energy-focused inaugural investment fund Andros Energy Capital LP at its USD250 million hard cap.
Andros did not use a placement agent or any outside advisor in connection with the capital raise. Partners Michael De Voe Piazza and Phillip Isom of Willkie Farr Gallagher LLP provided legal counsel to Andros in connection with the fund formation.
The fund will employ a sector-specific investment strategy targeting private equity investments, credit opportunities and direct asset-level investments across the energy sector.
Andros is mainly focused on middle-market transactions requiring between USD25 and USD200 million
RESEARCH
Venture capital funds delivered exceptional performance in 2019 globally, which continued in Q1 2020 unscarred by the unfolding Covid-19 crisis, according to eFront’s latest Quarterly Private Equity Performance report.
INVESTMENTS
Nova Pangaea Technologies, which has invented a way to use non-food biomass to make biofuels and other chemicals, has raised another GBP900,000 in the run-up to a planned Series A investment later this year.
The funding comes from NPIF – Mercia Equity Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund, the UK Government’s Future Fund and existing private investors.
The company also appointed Neil Guilder as CFO, Dr Neil Hindle as CTO and Peter McGenity as CCO in connection with the deal.
Nova Pangea Technologies completed its demonstration plant at Redcar in December 2019
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