California-based thredUP, the online platform for swapping children’s accessories, completed a $7 million Series B financing on Friday. Redpoint Ventures led the round with Trinity Ventures and former eBay CEO, Brian Swette participating. Tim Haley of Redpoint Ventures will join Patricia Nakache of Trinity Ventures on thredUP's Board of Directors. Its aggregate fundraising total is $8.7 million to date. Netflix CEO Reed Hastings and Swette are advisors to thredUP, which was launched by Harvard Business School grads James Reinhart, Oliver Lubin, and Chris Homer.
2 min read · 14 May 2011
Agile Financial Technologies, the Indian BFSI software products company, completed a $5.7 million Series A financing led by IDG Ventures India. Cash will be used to help the company launch growth plans into new markets. T.C. Meenakshisundaram and Hemir Doshi of IDGVI will be joining the board of Agile FT.
2 min read · 14 May 2011
Now You’ve Done It… The Deal Professor takes on LinkedIn’s IPO structure Yes, But Was He a LolCats Fan? Osama still managed to elude investigators, and e-mailed top contacts Inequality: Some EU nations’ surging economies will go to rehabbing less-healthy nations On a Roll: Samsung, already taking Apple on in the handset market, may perform well against the tech titan with tablets, too He’s Gonna Look Real Silly in Those Shirts: Ashton may replace Charlie on the no-longer-winning 2.5 hombres
1 min read · 13 May 2011
Boston-based private equity firm Monitor Clipper Partners acquired the assets of Pharmetics Inc., aside from the company’s Fort Erie manufacturing facility. Pharmetics, based in Quebec, runs vitamin, mineral and dietary supplements and an over-the-counter drug operation. With its recent investment in prescription benefits manager ScriptSave, it’s likely that Monitor Clipper can find synergies between the two assets.
2 min read · 12 May 2011
Harmony Foods Corp., which does business as Santa Cruz Nutritionals and is a portfolio company of Levine Leichtman Capital Partners IV, completed a $115 million bond offering. It will be used to pay debt and a shareholder dividend. The bond offering comes in the form of five year 10% senior secured notes.
3 min read · 12 May 2011
2 min read · 12 May 2011
New Horizons Bank was acquired from FDIC receivership last month; strategic acquirer Citizens South Banking Corp. was the buyer. The company assumed approximately $107.6 million in assets and $106.0 million in liabilities, including $101.9 million in current deposits from New Horizons Bank. Lately, private equity investors have increasingly sought to invest in minority stakes of banks being sold out of FDIC receivership. McColl Partners was an advisor on the deal.
2 min read · 12 May 2011
Blue Wolf Capital Partners and Atlas Holdings exited Northern Resources Nova Scotia Corp., selling it to a strategic buyer in Paper Excellence Canada Holdings Corp. Specifics on the transaction and bankers were not disclosed.
3 min read · 12 May 2011
2 min read · 11 May 2011
To the Market we Go! Was Groupon rushing its IPO? Going Public: FriendFinder Networks… and we can pretend it’s the first time you’re hearing about them FaceIn: BranchOut, which looks to tether professional online networks with social networking, raises cash To Market we Go Pt II! Who wants to buy into some sweet, sweet AIG action?
1 min read · 11 May 2011
