Advent backs E5m Pertinence
UK technology venture capital firm Advent Venture Partners has led a E5m investment round in French mining software provider Pertinence. Pertinence, based in Paris, will use the funding to develop the firms business across Europe.
The investment by Advent Venture Partners is the second investment by the firm in two days, following the announcement yesterday of Advent’s involvement in a $70m investment in Infinity Pharmaceuticals. Partech International also participated in the investment in Pertinence, which was established in 1999.
MTI exits Aquaculture Vaccines
UK high technology venture capital investor MTI has realised its investment in AVL Holdings (trading as Aquaculture Vaccines). The company has been bought by Schering-Plough Animal Health Corporation, the research pharmaceutical company.
AVL is a developer and vendor of vaccines and other health care products to the world’s fish farming industry.
MTI originally invested in AVL in 1985 via its first venture capital fund, Managed Technology Investors. The first investment was realised in a BIMBO transaction in early 1997 led by 3i, in which MTI’s second venture capital fund MTI Ventures also participated. The financial details of the latest transaction have not been disclosed.