The Comvest Group, the Florida-based private equity firm, beat its $500 million target for its fourth fund, nabbing $580 million for Comvest Investment Partners IV. The capital commitments in Comvest IV are from a diverse group of institutional investors, including U.S. state and city pension plans, insurance companies, college endowments, European government pension plans, and global private equity funds of funds.
2 min read · 04 October 2011
Last month, the Times of India reported that Accel Partners was scrapping plans for a $400 million fund focused on late stage investments. However, Accel India is still raising a $150 million fund focused on early stage opportunities, sources tell peHUB. Accel is meeting with limited partners as it nears completion for the fund, slightly more than the VC was previously reported to be raising in July by Business Standard, another Indian publication. Accel is expected to close on the fund in a matter of weeks, three sources tell peHUB. The new fund will concentrate on early and seed stage investments, peHUB’s sources said. Return data on Accel’s first India fund
2 min read · 04 October 2011
Make Money Money: The most valuable startups in NYC Not a Dry Eye in the House: TearScience bags big bucks Will He? Or won’t Christie? Are We Next? Middle East PE firms bag the act, look for buyers to return cash to investors It Ain’t Bad to be Michael Lewis Backing Europe's Banks: Not for the risk-averse Investment Banking Fees Uncovered: Get the lowdown on global fee trends and those top fee payers Start-Up Looking for Cheap Work Space? Why don't you rent a desk? Hedge Funds Outdo Private Equity? Passing the trillion dollar mark
1 min read · 04 October 2011
Sorenson Capital will back Mindshare Technologies, leading a $20 million investment in the company. The PrivateBank and Trust Company contributed to the growth investment with an additional credit facility. Richard Hanks, the CEO and president of Mindshare, said that the company will primarily use the capital raised for growth, and not M&A. He suggested the financing might not be the last for Mindshare, which is projected to hit the $19 million mark for revenue in 2011.
3 min read · 04 October 2011
Typekit, the subscription service for font types, has been acquired by listed strategic tech conglomerate Adobe. Specifics of the deal were not publicized. Investors in Typekit include True Ventures, Evan Williams, Freestyle Capital and Chris Sacca.
3 min read · 03 October 2011
Gauging the Impact: Of Middle East unrest on private equity Speaking of Unrest: Things are getting a little bit messy back home too New Money: VC bucks to the Middle East Speaking of Surveillance: What you share, and where you share it, is increasingly likely to be monitored by law enforcement Killing the Messenger: Quite literally, in fact--cartels' backlash vs. journalists sheds blood
1 min read · 03 October 2011
3 min read · 30 September 2011
National Healing Corp. and Diversified Clinical Services, both wound care management companies and both based in Florida, will merge. PE firm the Jordan Co. will relinquish its stake in Diversified Clinical Services as part of the transaction. Specifics on the deal were not provided. Moelis & Company and Jefferies & Company are serving as financial advisors to Diversified Clinical Services. SNR Denton US LLP and Hogan Lovells US LLP are serving as Diversified Clinical Services' legal counsel.
5 min read · 30 September 2011
Nordic Capital Funds V and VI just completed the sale of Nycomed A/S to listed Japanese Takeda Pharmaceutical in a €9.6bn transaction. The deal excludes the US based dermatology and topical generics unit Fougera, which is being retained by the Nordic Capital-lead owner group.
3 min read · 30 September 2011
Onex Corp’s ONCAP raised a third fund, the TSX-listed investment firm, closed its third fund with $800 million Canadian committed. The fund will consist of $520 million in outside capital and $280 million that is being contributed from Onex. In June, ONCAP III completed its first transaction with the acquisition of Hopkins Manufacturing Corporation.
3 min read · 30 September 2011
