Venture/Growth Capital

Venture/Growth Capital news from around the globe

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• Former UK Treasury Minister to advise Maven Capital Partners 23 Aug 2010. Source: AltAssets. Scottish private equity firm Maven Capital Partners has recruited Ian Pearson, a former Treasury and Business Minister for the UK government, as senior adviser.

• Siemens Venture Capital focuses on visualisation technology company RTT 23 Aug 2010. Source: AltAssets. The venture arm of German engineering conglomerate Siemens has taken a stake in Realtime Technology (RTT), a specialist in 3D visualisation software services.

• Indian anti-virus software firm Quick Heal sees INR600m 18 Aug 2010. Source: AltAssets. Sequoia Capital’s India arm has invested INR600m ($12.9m) in IT security company Quick Heal Technologies to help it develop its products, expand its distribution network and fund future acquisitions.

• Electronics multinational Philips anchors Gilde healthcare fund 18 Aug 2010. Source: AltAssets. Multinational electronics corporation and DVD innovator Philips has made a cornerstone investment to Gilde Healthcare Partners’ third fund, a venture capital vehicle that will invest in early and growth stage technology companies.

• Thin-film battery manufacturer Infinite Power Solutions in $20m Series C 18 Aug 2010. Source: AltAssets. US cleantech company Infinite Power Solutions (IPS) has raised $20m in a Series C round of financing that it will use to expand its manufacturing capacity to keep pace with growing demand.

• Google buys VC-backed virtual currency start-up 17 Aug 2010. Source: AltAssets. Jambool, a venture-backed start-up that has created a platform which allows online games developers to monetise virtual currencies, has been picked up by search engine leader Google.

• WTI closes latest venture debt fund on $294m 13 Aug 2010. Source: AltAssets. Western Technology Investment, a venture capital debt investor, has collected $294m for its latest debt fund in an oversubscribed fundraise, proferring the latest evidence of targets being lowered in a tepid market.

• Skype files for $100m IPO 10 Aug 2010. Source: AltAssets. Skype, the internet telephony company that has been backed by venture capital investors and online auction giant eBay in its short history, has filed for a $100m initial public offering.

• Solazyme raises $52m to bring micro-algae biofuel products to market 09 Aug 2010. Source: AltAssets. Algae biofuel business Solazyme has raised $52m in a financing round led by Braemar Energy Ventures and new investor Morgan Stanley, which will help bring its products to market.

• Gobi to manage China-Singapore VC fund 09 Aug 2010. Source: AltAssets. Gobi Partners is helping to strengthen China and Singapore’s ties with a new venture capital fund that will invest in start-ups in the digital media and technology sectors in both countries.

• Attero raises $3.3m for Indian e-waste recycling 06 Aug 2010. Source: AltAssets. Attero Recycling, an Indian e-waste recycling start-up, has attracted a $3.3m Series B investment from new backer Granite Hill India Opportunities Fund, and current shareholders IndoUS Venture Partners and Draper Fisher Jurveston.

• China’s answer to YouTube raises $50m 05 Aug 2010. Source: AltAssets. Tudou.com, a Chinese video sharing platform in the vein of YouTube, has raised a further $50m, closing off a Series E funding round that saw Singapore sovereign investor Temasek put up $35m.

• Aureos invests $4m in Malaysian hypermarket chain 05 Aug 2010. Source: AltAssets. Emerging markets private equity specialist Aureos Capital has invested $4.16m in TF Wholesale and Distribution, a hypermarket business on the Malaysian peninsula.

• GM Ventures makes debut deal 04 Aug 2010. Source: AltAssets. The venture capital arm of US car giant General Motors has agreed to its inaugural investment, and will soon take a minority stake in electric vehicle specialist Bright Automotive.

• Cleantech investor Hercules commits $52m to new portfolio companies 04 Aug 2010. Source: AltAssets. Hercules Technology Growth Capital, a Nasdaq-listed finance company providing venture debt and equity to clean technology companies at all stages of development, has committed $52m in loans to three new portfolio businesses.

• MobileIron raises further $16m for smartphone solution 03 Aug 2010. Source: AltAssets. MobileIron, a company dedicated to making smartphones enterprise-ready, has raised $16m in a Series C financing round that saw new investor Foundation Capital join the fold.

• AdMeld adds $15m from NVP, Time Warner 03 Aug 2010. Source: AltAssets. AdMeld has closed a $15m Series C funding  round, with new investors Norwest Venture Partners and the corporate venture arm of media group Time Warner, Time Warner Investments, backing the online advertising services provider.

• European PE funds show negative performance in Q1 03 Aug 2010. Source: AltAssets. European private equity fund performance lagged behind for the first quarter of the year, generating a negative return of -1.9 per cent on average, whilst the asset class as a whole gave a 2.22 per cent return, according to the latest data from State Street.

• Earlybird Venture Capital hires Intel adviser 02 Aug 2010. Source: AltAssets. German firm Earlybird Venture Capital has added Jason Whitmire, who previously advised technology giant Intel Corporation on its mobile software strategy, as a partner to focus on early stage investments in the mobile services, cloud computing and digital media technologies sectors.

• Africa’s AFIG backs Ecobank with $14m 30 Jul 2010. Source: AltAssets. Advanced Finance & Investment Group, an Africa-focused private equity firm, has agreed to make a $14m investment, consisting of equity and convertible bonds, in three subsidiaries of Ecobank Transnational in Chad, Liberia and Rwanda.

• US VC dealmaking rebounds to pre-recession levels 28 Jul 2010. Source: AltAssets. The US venture dealmaking market appears to be returning to health, with $7.7bn put to work in 744 deals in the second quarter, the most money invested in a single quarter since before the recession, according to new data from Dow Jones.

• Waste-to-energy company Monsal secures £14m 27 Jul 2010. Source: AltAssets. Waste-to-energy company Monsal has secured £14m (€16.7m) in expansion capital from FourWinds Capital Management’s Water Resources Fund.

• Cerenis raises €40m for development of "good cholesterol" therapeutics 26 Jul 2010. Source: AltAssets. Cerenis Therapeutics, a French biopharmaceutical company that develops "good cholesterol" to treat cardiovascular ailments, has raised €40m in Series C financing and appointed the former CEO of pharmaceuticals giant GlaxoSmithKline to its board.