Avida Group forced to rebrand

After a dispute with an unnamed corporation, the German mid-market firm has been forced to change its name to Triginta Capital.

Avida Group, a German private equity firm with six funds and approximately €500 million under management, has changed its name to Triginta Capital “due to trademark legalities”, the firm said.

A spokesman told PEO that the change in branding would have no bearing on the firm’s structure or investment strategy.

Triginta Capital, which is headquartered in Düsseldorf, was unable to disclose the name of the other party involved in the dispute due to a confidentiality agreement.

Avida Group was the captive private equity arm of the German insurance group ERGO Versicherungsgruppe. It spun out in 2004 led by incumbent chief executive officer Clemens von Berger.

Triginta’s most significant recent deal was the secondary acquisition of Berlin Capital Fund, a private equity and venture capital company owned by public sector banking group Landesbank Berlin, for an unspecified amount in March 2007. Berlin Capital Fund comprised a portfolio of 14 companies and has since been renamed Triginta Capital Fund II.