Deal Round-up 17/12/01

NWDC takes £3.4m slice of Kate’s Cake; German fund invests in CoreMedia; Sixth Dimension secures $13m; Swedish firms invest in biotech;Storyland secures £1.5m funding.

NWDC takes £3.4m slice of Kate’s Cake

Natwest Development Capital (NWDC), part of the Royal Bank of Scotland (RBS)’s private equity group, has invested £3.4m in the management buyout of Kate’s Cakes, a food producer. The RBS also provided senior debt facilities to fund the transaction.

NWDC makes acquisition investments in the smaller private equity market. Commitments range between £2m and £20m. Over the last 12 months, NWDC has invested more than £35m in 11 deals in a broad range of sectors.

German fund invests in CoreMedia

T-Online Venture Fund has taken a minority stake for an undisclosed sum in CoreMedia, a company designing content development software. The company lists Austria Presse Agentur (APA), Burda Starnetone, Continental and VIAG Interkom among its customers.

The E100m T-Online Venture Fund is managed by Deutsche Telecom’s venture capital subsidiary T-Venture.

Sixth Dimension secures $13m

A consortium of investors led by EnerTech Capital has injected $13m into Sixth Dimension, a company developing technology for energy services companies. The money raised will be used to expand the company’s sales efforts.

EnerTech Capital is a $290m US fund focusing on the energy, utility and telecommunications industries. Other investors in the deal include Shell Internet Ventures, E.ON Venture Partners, Rock Mountain Ventures and Katalyst Venture Partners.

Swedish firms invest in biotech

InnovationsKapital has led Swedestart and A+ Science in a SKr45m investment round in Pharmacore, a biotechnology company developing drugs for the treatment of gastrointestinal and cardiovascular diseases. The money raised will be used to expand the operation.

InnovationsKapital has invested SKr 15m in the company. The firm is a Swedish early stage venture capital business focusing on Nordic investments within ICT and Healthcare & Life Sciences. It manages three funds totalling E193m.

Storyland secures £1.5m funding

Aberdeen Murray Johnstone Private Equity has invested £350,000 into Storyland, a TV productions company making children’s animated programmes. The investment concludes a £1.5m fundraising round, Eastern Scotland Investments (ESI) also committed.

Aberdeen Murray Johnstone Private Equity is a division of Aberdeen Asset Managers. The group invests between £500,000 and £15m in small and medium sized companies operating primarily in the UK.