UK - Management team acquires IDG venture portfolio

The general partners managing the IDG Ventures Europe portfolio – Ajay Chowdhury, Hitesh Mehta and Chris Smart – have bought out the fund holding the European venture capital portfolio (renamed Acacia I LP) from IDG Inc. The deal was completed with backing from a syndicate lead by Partners Group and Access Capital Partners. The fund will be managed by the management company, Acacia Capital Partners that is owned by the three General Partners.