Robert Daniel

Strattam to buy majority stake in software firm Blacksmith Applications

Strattam Capital, the Austin, Texas, private equity firm, agreed to buy a majority stake in Blacksmith Applications Inc, the Lawrence, Massachusetts, developer of software for the consumer-packaged-goods industry. Terms weren’t disclosed. Blacksmith said in a statement that its management will retain a “significant” stake. It didn’t specify how much. Blacksmith’s platform enables users to “better manage their contracts, more effectively deploy pricing discounts and promotional offers and gain insight into the effectiveness of their trade spend,” the company said. Wilson Sonsini Goodrich & Rosati is Strattam’s legal advisor. Canaccord Genuity is Blacksmith’s financial advisor and Gesmer Updegrove LLP is providing legal advice.

Agdata names Andy Zupsic CEO; acquires Focus Technology Group

Agdata, the Charlotte, North Carolina, provider of data-management and analytics solutions for the agriculture and animal-health industries, named Andy Zupsic chief executive and said it acquired Focus Technology Group. Zupsic previously was chief operating officer at Sovos Compliance, where he’d led units for professional services, client support, compliance services and tax research. As Agdata CEO Zupsic succeeds Richard Bettison, who was named a board adviser. Focus Technology will be integrated with Agdata’s Animal Health Division, which provides data-enabled solutions to veterinarians, manufacturers, feed mills and specialty pet markets. Agdata was acquired by Vista Equity Partners, the San Francisco private equity firm, in July 2014.

Four Wood Capital, Tigress Financial form capital-markets venture

A subsidiary of investment manager and merchant banker Four Wood Capital Partners LLC launched a capital-markets joint venture with Tigress Financial Partners LLC, the investment bank and brokerage. The two New York firms said the offerings, serving particularly middle-market institutions, would include strategic advice and investment banking, securities underwriting and capital-markets execution, investment research, trade execution and risk management.

Bright Health raises $80 mln; Series A round led by Bessemer and NEA

Bright Health, the Minneapolis startup set to offer affordable health-care plans based on partnerships with health systems, raised $80 million of Series A funding. The round was led by Bessemer Venture Partners and New Enterprise Associates, with Flare Capital Partners and others participating. Bright Health said it would use the funding to roll out its offerings to individuals nationwide; it plans to enter its first market and enroll members for the 2017 plan year. The company’s CEO and one of its co-founders is Bob Sheehy, former CEO of United Healthcare.

H.I.G. Capital closes Brazil & Latin America fund above target

H.I.G. Capital, the Miami private-equity firm managing $19 billion of capital, closed H.I.G. Brazil & Latin America Partners at $740 million, 23 percent above its $600 million target. The fund will continue H.I.G.’s “strategy of focusing on private equity, buyout and growth-oriented investments in lower-middle-market companies in Latin America, with a focus on Brazil,” the firm said in a statement. Since 2012, H.I.G. has closed 14 transactions in the region, three of which are in the new fund, Fernando Marques Oliveira, managing director and head of H.I.G. Latin America, said.

Angel Oak Capital taps Valecha to head institutional alternatives

Angel Oak Capital Advisors LLC, the Atlanta investment manager focused on fixed income, named Manish Valecha head of institutional alternatives. Valecha, a chartered financial analyst, previously served as head of research at Gapstow Capital Partners, the New York alternative-investment firm, where he was responsible for managing investment strategy, research and due diligence. Valecha’s resume also includes tenures at BlackRock, Barclays Global Investors and other firms.

Japan's Kyulux raises $13.5 mln; Series A round led by Samsung Venture

Kyulux Inc, the Fukuoka, Japan, advanced-materials startup focused on OLED display and lighting technology known as thermally activated delayed fluorescence, raised $13.5 million (1.5 billion yen) of Series A financing. Samsung Venture Investment Corp led the round, with participation from OLED panel manufacturers including Samsung Display, LG Display, Japan Display and Joled. Also participating in the funding were Japanese VC funds and a Japan-government-affiliated venture fund. Kyulux also said that it acquired a patent portfolio from Kyushu University and that the school took equity participation in the financing.

Vasona Networks raises $14.6 mln of Series C venture capital

Vasona Networks Inc, the San Jose, California, provider of platforms to enable mobile-network operators to provide better service to users, raised $14.6 million of Series C venture capital. With the new capital, Vasona has raised a total of $48 million. The fresh funds will support Vasona’s deployments at major network operators and drive R&D, the company said in a statement. Participants in the round include Bessemer Venture Partners, New Venture Partners and NexStar Partners.

Bridge Growth Partners acquires majority stake in Solace Systems

Bridge Growth Partners LLC, the New York private-equity firm, acquired a majority interest in Solace Systems, the Ottawa provider of infrastructure messaging technology. Terms weren’t disclosed. Tom Manley and Alok Singh, co-founder and managing principal of Bridge Growth Partners, will join Solace Systems’ board.

Churchill Equity sells Cal Quality to Parpro of Taiwan

Churchill Equity, the Minneapolis investment firm, sold a portfolio holding, Cal Quality Electronics, to Parpro of Taiwan. Terms weren’t disclosed. Cal Quality is the Santa Ana, California, provider of electronics-manufacturing services. Parpro, which is traded on the Taiwan Stock Exchange, provides design and manufacturing services. Lincoln International, the Chicago-based mid-market investment bank, provided financial advice to Churchill and Cal Quality.