Gold Zack teams up with US investor

Gold Zack has sold a 45% interest in 19 companies in its venture capital portfolio to US-based secondary investor Paul Capital Partners. The companies hail from across the technology, media and biotechnology sectors at different stages of development. As part of the deal, Gold Zack will take responsibility for the active management of the portfolio in return for an undisclosed management fee. The entire portfolio has been transferred to a Dutch-based holding company; the total deal value has not been disclosed. San Francisco-based Paul Capital Partners has over $2bn under management and recently raised $800m for its latest vehicle, Paul VII, which together with Paul VI will finance the deal. The company has an office in France and plans to open a further bureau in London shortly.

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