Weekly round-up: it's not a bubble, but...

Taylor's Wessing's Ed Waldron and Jonny Bethell questioned if the recent appetite of tech businesses is sustainable in Investing in technology: it's not a bubble, but... The pair argued the need for expertise in the sector in order to sidestep the herd mentality that inflates any bubble. But is there sufficient expertise outside the US, particularly when it comes to guiding firms through to an IPO? Yes, the duo believes: "Tech in London is undeniably gaining strength – Tech City is a good example of this. Furthermore, more than £1bn was raised by technology companies on the London market in 2013, representing the highest amount since the start of the crisis."

unquote" spoke to Michel Abouchalache in a Q&A with the Quilvest CEO. The firm raised a mighty $1.3bn in 2013, far exceeding its $500m target. While investor flight to higher-risk, higher-return asset classes has of course played to the advantage of private equity firms, according to Abouchalache track record is playing an increasingly important role: "None of our programmes have lost money in the past 14 years. We have 19 programmes and the vast majority of those will be delivering double-digit returns. Combined with increased distributions, this really reassures investors and can push them to re-up or commit for the first time."

Italian GP Consilium reached a first close on €95m for its latest fund, after just three months on the road. The partners spoke to unquote" in an exclusive interview on the fundraising experience. And judging from the swift fundraise, sentiment around the Italian market is changing: "It hasn't been easy," says partner Stefano Iamoni. "You have to meet a lot of people and answer a lot of the same questions so it is physically exhausting at the start. But once you gain momentum, it is exciting. Italy has been a topic that is mentioned a lot, but it's becoming less of an issue as sentiment is improving. Perception is positive and a lot of potential investors see Italy as an attractive market for private equity."

That's all from me this week but if you have any comments on this week's analysis, please send your thoughts to amy.king@incisivemedia.com.

You can continue to follow me and the rest of the unquote" team via @unquotenews for all the latest private equity and venture capital updates, and of course on unquote.com.

Amy King
Senior Reporter, unquote"

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Industry
• Weekly