Solutions
The Global Health Investment Fund’s (GHIF) portfolio company Atomo Diagnostics Limited (AT1) has commenced trading on the Australian Securities Exchange (ASX) following an oversubscribed initial public offering (IPO). The Australian rapid blood test company intends to use the net proceeds from the IPO to support the planned expansion of its production capacity as the company prepares to utilise its rapid test devices to help detect Covid-19 and expand its commercial efforts for HIV and pregnancy self testing. Atomo has already entered into a binding COVID-19 supply agreement with NG Biotech, including two initial orders totalling nearly 950,000 devices, and is in
Tech start-up Blueprint has secured a GBP1million seed investment led by Magnus Rausing’s MAHR Projects and including Founders Factory and Hambro Perks. At a time when worldwide ecommerce adoption and digital payments are accelerating, Blueprint is ramping up the development of the first true conversational commerce platform which allows consumers to purchase products and speak to brands through a single SMS or WhatsApp message.
Blueprint aims to disrupt the retail process that has been built on email or online communication and traditional, clunky checkout systems. Using a mix of sophisticated natural language processing and machine learning in combination with real-world customer
ZEDRA Fund Services has won a new mandate to provide comprehensive fund administration and corporate governance services to IG4 Capital’s latest USD231.5 million blind-pool Private Equity II Fund, which will focus on special opportunities in Latin America. Ryan Taylor, director of ZEDRA Fund Services, explains: “We have proven and significant experience in the small and mid-tier alternative funds administration sector, where we can bring our particular skills and experience to bear for the benefit of our clients. As well as all the traditional threshold services expected, this would include benefiting from our experience in value-added areas such as fund governance, meeting
New McKinsey research has shown private equity operating groups are playing a vital role in responding to the challenges created by Covid-19.Operating groups are employed by private equity firms to provide strategic direction and support to portfolio companies.
For PE firms, which often own businesses in multiple industries and geographies, the pandemic has meant there are complex decisions to be made, as they strive to safeguard employees, customers, and their companies.
Over April, McKinsey interviewed 12 heads of portfolio company operating groups at leading private equity firms and institutional investors across Asia, Europe, and North America. The picture that emerges
Growth-equity investment firm Edison Partners has completed the sale of Clearpool Group, a New York-based electronic trading provider and independent agency broker-dealer, to BMO Financial Group. The deal is Edison’s third institutional fintech exit to a strategic buyer this year, which also includes the sale of Scivantage to Refinitiv and Solovis to Nasdaq, and is the second portfolio company exit between Edison and Clearpool CEO Joe Wald.
The acquisition of Clearpool is set to deliver new capabilities to BMO’s electronic trading platform, as the nature of equity trading continues to move online. Clearpool will remain a separate brand under BMO and
Crypto Finance has completed a Series B investment round, raising CHF14 million in new funding from a consortium of investors.
As stay-at-home orders are taking their toll on the economy and businesses are in need of cash, the private equity industry could be well positioned to pick up better priced assets in the backwaters of the crisis.
David Mussafer, chairman and managing partner of Advent International, told the Financial Times on 5 April that there is now “an opportunity for us to get involved with some of the most incredible businesses on the planet that heretofore might not have been interested, or needed capital, or sought a partner,” particularly in the technology, healthcare and consumer sectors.
Is this, as pointed
Scandinavian bank SEB has become the newest liquidity provider for BidFX, an EMS designed for the daily FX market.BidFX head of Nordic Sales, Peter Bondesen, says: “The increased interest in our advanced EMS from Nordic financial institutions means greater demand for specialised, local liquidity. Many of our global clients have also requested SEB as a counterparty to provide bespoke liquidity both through streaming rates and RFQ”.
SEB Head of e-FX distribution, Carolina Trujillo, says: “We are excited that becoming a liquidity provider on BidFX is enabling us to extend our reach and both follow existing clients as well as get access
The number of carve-out acquisitions is expected to rise as businesses look to restructure following the Covid-19 crisis.
New research has revealed that around a fifth of carve-outs result in millions of dollars wasted because of inefficiencies, however. A survey, commissioned by TMF Group, found that 34 per cent of senior executives from private equity firms with buy-side experience said their most recent cross-border carve-out failed to deliver on expectations, with 24 per cent saying costly overruns impacted the deal.
Where a delay resulted in increased cost, a majority of those from private equity firms (92 per cent) said it
Eurazeo is creating a EUR10 million solidarity fund to buy and donate products from its investee companies to support communities affected by Covid-19, with the support of its shareholders.
The fund will be financed from Eurazeo’s cash holdings and by donations from the supervisory board, the executive board and the executive committee members.
The executive board members have decided to take part by contributing 10 per cent of their annual bonuses for 2019, payable in April 2020, to the solidarity plan.
The Paris-headquartered firm also said that “given the unprecedented uncertainty around the world and in line with the French
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