Funds
EUROPE - smac partners closes new secondaries fund
Munich-based venture capital firm smac partners has closed its new secondaries vehicle, smac partners fund III, which will be advised by UK-based Headway Capital Partners.
FINLAND - Pohjola Private Equity closes mezzanine fund
The private equity arm of the Finnish bank Pohjola has held a second closing on EUR 70m of its fund-of-funds Selected Mezzanine Funds I.
UK/ASIA - ICG closes second Asia Pacific fund on USD 1bn
Intermediate Capital Group Plc has held a final closing of its second fund dedicated to mezzanine investments in the Asia Pacific region, Intermediate Capital Asia Pacific Fund II, on USD 1bn, substantially lower than the USD 1.5bn target.
SPAIN - Sepides et al launch nanotech fund
Sepides, Sodena and Principia have launched a new nanotech dedicated fund with an initial commitment of EUR 4.5m, with the final total expected to reach the EUR 12m.
UK - Elysian to raise first fund
Elysian Capital has been reported as raising its debut fund, Elysian Capital I, with a target of ТЃ200m.
IRELAND - NCB holds first closing on EUR 75m
The Ulster Bank Diageo Venture Fund LP, managed by NCB Ventures, has held its first closing on EUR 75m.
FRANCE - Ouest Ventures to launch EUR 50m fund
According to reports, Ouest Ventures is to launch its second fund in November with a target of EUR 50m.
ESTONIA - Alta Capital in need of funds
According to reports, Alta Capital's real estate development arm is in need of EEK 500m to redeem bonds over the next few months.
ITALY - Advanced Capital launches real estate fund
Advanced Capital has received the green light from Bankitalia for the launch of its EUR 300m AC Real Estate fund, the first in Italy. The fund is reported to have a eight year life span and will seek an annual return rate of 15%.
GLOBAL - Nextech Venture holds final close on USD 65m
Switzerland-based Nextech Venture has held a fourth and final close of its oncology-focused fund on USD 65m.
UK - Royal Society holds first close on £5m
The Royal Society, the national academy of science of the UK and the Commonwealth, has held a first close of its Enterprise Fund on ТЃ5m.