I've been a business reporter for a while. I've covered Wall Street, venture capital and now private equity. I'm always looking for a scoop or something to talk about. I'm the eternal optimist and am still waiting for the Chicago Cubs to win the World Series. Yes, I believe.
Constellation Brands has agreed to buy a minority stake in Canopy Growth Corp, an Ontario provider of medicinal cannabis products. Constellation’s stake will represent 9.9 percent of Canopy, valued at C$245 million ($190.8 million). Constellation Brands will have the option to buy additional ownership interest in the future.
4 min read · 31 October 2017
BioGeneration Ventures said Oct. 31 that it closed its third fund with 82 million euros ($95.3 million) in funding, exceeding its 50 million euro ($58.1 million) target. New investors include Bristol-Myers Squibb, Johnson & Johnson Innovation – JJDC Inc, as well as Schroder Adveq, and the MAN Pension Trust. BGV III will focus on seed investments in European biotechnology companies.
3 min read · 31 October 2017
Ada Health said Oct. 31 that it raised 40 million euros ($47 million) in a funding round led by Access Industries. Also investing were the June Fund, Cumberland VC and William Tunstall-Pedoe, the AI entrepreneur behind Amazon Alexa. Ada Health, with offices in Berlin and London, is a health technology company.
4 min read · 31 October 2017
DH Private Equity Partners said Oct. 27 that it agreed to sell its stake in TMF Group to CVC Capital Partners for 1.75 billion euros ($2 billion). The deal is expected to close in the first half of 2018. TMF Group is a Dutch business outsourcer.
2 min read · 30 October 2017
Joseph Tsai, an Alibaba co-founder, is buying 49 percent of the Brooklyn Nets for $2.3 billion, the Financial Times is reporting. The seller is Russian billionaire Mikhail Prokhorov. Tsai has an option to buy the rest of Prokhorov’s stake by 2021, the story said.
1 min read · 30 October 2017
General Atlantic has invested in Authentic Brands Group (ABG). Financial terms weren’t announced. General Atlantic joins existing Authentic Brands investors Leonard Green & Partners LP and Lion Capital. ABG, of New York, owns a portfolio of brands including Juicy Couture, Aéropostale and Jones New York.
4 min read · 30 October 2017
Maven Capital Partners said Oct. 30 that Alex Marsh has joined the firm as an investment manager. Marsh was previously with Northstar Ventures.
2 min read · 30 October 2017
1 min read · 27 October 2017
Lee Equity Partners and BlackBern Partners have invested in Westfall Technik. Financial terms weren’t announced. Westfall, of Chandler, Arizona, is a holding company that provides plastic manufacturing services to the medical, packaging and consumer goods industries. Westfall has since acquired Fairway Injection Molds Inc and Integrity Mold Inc.
2 min read · 26 October 2017
EPIC Insurance Brokers & Consultants, a portfolio company of Oak Hill Capital Partners, has agreed to buy Frenkel & Co. Financial terms weren’t announced. Frenkel, of New York, is an independent insurance broker.
4 min read · 26 October 2017
