3i, the London-listed private equity firm, has closed a financing round for Glucon, a US medical technology company, a statement said. No financial details were disclosed.
New investors from the US include venture capital firms Sequel Venture Partners and Hunt Ventures, and Quest Capital Partnership, a US private equity firm.
Returning investors from Israel include venture capital funds Aurum Ventures, Ascend Technology Ventures, Infinity Venture Capital Fund, and Giza Venture Capital, the technology-focused venture capital arm of Giza Ventures, a private investment bank, and Medical Knowledge Institute, a non-profit foundation focused on healthcare information and education.
Klaus Stoeckemann, a partner at 3i and Dan Mitchell, a partner at Sequel Venture Partners, a Colorado-based venture capital firm, are joining the board.
Last week 3i’s proposed £462 million (€704 million; $912 million) bid for Enterprise, a UK-listed support services firm, was publicly rejected by the company’s board of independent advisors.
In separate news last week, 3i, Innovationskapital, a venture fund manager; Germany’s SMAC Partners and management sold their stakes in software company Nordnav to Cambridge Silicon Radio for $75 million.
Shares in 3i Group hit a 52-week high after Dresdner Kleinwort increased its price target for the private equity company to £11.80 from £11.30. The broker repeated its buy recommendation following strong returns such as the sale of Nordic Modular, a temporary building provider, to Kungsleden, a Stockholm-listed real estate firm, for €100 million, generating a return of 10 times 3i’s original investment, earlier this month.