Market picks up with funding frenzy

The year is picking up in Southern Europe. The region continues to see fundraising activity with venture: Franco-Italian 360 degs Capital Partners reached a EUR100m final close and Spanish Debaeque reached an interim close of its fourth vehicle at EUR75m. A handful of launches have also been unveiled: State Street Global Investments launched its TTVenture fund with a EUR60m target, while Arcano Capital announced a EUR250m fund-of-funds.

There are also a number of new players on the scene: Dpixel is an Italian seed and early-stage venture operator which should soon be raising a small fund. A few buyouts have also taken place, with American First Reserve Corporation acquiring Gamesa Solar in a EUR261m transaction. In Italy, Barclays Ventures and India's Batra Group acquired the Fila EMEA in a deal valued at about EUR100m; and Opera led the acquisition of Vetrerie Riunite alongside Operator DGPA. At the time of going to print, reports also suggested that in Italy, Investindustrial was preparing motorcycle company Ducati for a P2P, while Polynt's voluntary tender offer (also by Investindustrial) had been approved by the Commizzione Nazionale per le Societa et la Borsa.

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• Southern Europe