UK / Ireland
The problem with sovereign wealth funds
Stuart Mills considers the impact of Sovereign Wealth Funds on the private equity market.
A new frontier
Sovereign wealth funds have the resource to emerge as serious challengers to private equity in the M&A space. However, unless they address transparency concerns these ambitions are likely to be thwarted by protectionist government intervention.
UK - Spark and Eden invest $6m in We7
SPARK Ventures has been joined by new investor Eden Ventures on a $6m series-A funding round for We7, an ad-funded music download service. Peter Gabriel, the musician, also participated in the deal having provided the company with start-up funding alongside...
UK - Balderton and Advent Moveme with £3.4m of funding
Balderton Capital and Advent Venture Partners have co-invested £3.4m into online home moving specialists Moveme.com in a second round of funding.
UK - Aberdeen divests childcare portfolio company
Aberdeen Asset Managers Growth Capital has sold Tender Loving Childcare Ltd (TLC) to Busy Bees Group Ltd, for an undisclosed sum. Aberdeen invested £1.7m of development capital in TLC in October 2000 to fund the rollout of a chain of purpose built nursery...
UK - JC Flowers eyes up Friends Provident again
The US private equity firm JC Flowers is believed to have offered 175p per share, or £4.1bn, for UK insurer Friends Provident. JC Flowers had shown an interest in Northern Rock at the early-stages of the "auction" for the lender. Last week, JC Flowers...
UK - Infrastructure player crashes Biffa deal with £1.5bn offer
Global Infrastructure Partners (GIP) is reported to be making a £1.5bn offer for waste services company Biffa. Last month, Biffa opened its books to HgCapital and Montagu Private Equity after they made a £1.2bn joint bid for the London-listed group.
UK - Apax announces change in business services team
It is understood that the current head of Apax's business services investment team, Stephen Green, is to leave the buyout house in March for family reasons. Green led the buyouts of Yell and Travelex.
Bargain hunting
In recent times, quoted companies have presented a real headache to acquire and have accounted for a tiny proportion of dealflow - there were seven take-privates in 2006 and there have been 12 in 2007. If the public markets' focus on share price continues...
UK - Terra Firma's EMI tables bid for Chrysalis
It is understood that EMI, the record company and music publisher owned by Terra Firma, has made an indicative bid for smaller rival Chrysalis. Other trade buyers including Sony ATV and Warner Music have also shown interest. Chrysalis owns music publishing...
UK - BVCA research predicts economic slowdown
The private equity and venture capital industry is bracing itself for an economic slowdown, according to new research published today by the BVCA – The British Private Equity and Venture Capital Association. The YouGov poll of BVCA members shows that...
UK - Matrix realises 3.3x from full BBI exit
Matrix Private Equity Partners has realised over 3.3x its original investment of £2.3m through the sale of its shareholding in AIM-listed BBI Holdings Plc. Matrix originally invested in BBI, a healthcare business that focuses on diagnostics and diabetes,...
UK - Barclays invests £5m as cornerstone investor in Catalyst
Barclays has announced its intention to invest £5m into a new social investment fund managed by Catalyst Fund Management and Research, which is targeting a final close later in 2008 in excess of £25m.
GERMANY/UK - Wellington closes EUR 265m fund and opens London office
Venture capital firm Wellington Partners has made two announcements that show a shift towards pan-European venture. The VC has closed a EUR 265m fund, Wellington Partners IV Technology, surpassing its target of EUR 250m in just over six months. The fund...
UK - Catapult supports £500,000 FDTEK funding
Catapult Venture Managers has invested £330,000 as part of a £500,000 financing round for information technology company FDTEK Holdings Ltd.
UK - The Capital Fund backs £450,000 2sms financing
The Capital Fund has invested £250,000 as part of a £450,000 financing round for mobile phone messaging services provider 2sms. The balance of the equity has been supplied by Richard Goldstein, an experienced SME investor, who has joined the 2sms board.
UK - Exponent closes second fund on £805m
Exponent Private Equity has reached the final close of its second fund, Exponent Private Equity Partners II, LP, with commitments of £805m. This fund doubles the amount raised in the first fund in 2004. Exponent will continue to focus on investing in...
UK - Accel Partners leads $15.5m OpenAds funding
Accel Partners has led a $15.5m series-B funding round for online advertising platform OpenAds, alongside exisiting investors Index Ventures, First Round Capital, Mangrove Capital Partners and O'Reilly AlphaTech Ventures.
UK - Barclays Ventures appoints new regional director
Barclays Ventures has continued the expansion of its Birmingham office with the appointment of Rupert Lyle as the new regional director.
UK - LDC appoints new director to Edinburgh office
Lloyds TSB Development Capital (LDC) has appointed James Rodger as a director in its recently launched Edinburgh office.
UK - Alchemy hungry for Regent Inns
Alchemy Partners is reported to be interested in acquiring struggling pub owner Regent Inns, the operator of pubs including Walkabout and Old Orleans. The listed-group's share price rose by 27% on the news of a possible to takeover, to 21p. At 21p per...
UK - Summit makes two promotions
Summit Partners has announced the promotion of two executives in its London office.
UK - Francisco Partners leads Data Connection funding
San Fransico and London-based venture capital firm Francisco Partners has led a significant investment round for telecom networking company Data Connection Ltd, alongside strategic partner Sequoia Capital.
UK - ACP abandons Davenham deal
ACP Capital has abandoned its planned takeover bid for specialist finance group Davenham, after it was refused access to the company's books.