Lehman leads Bowman Power round
Lehman Brothers European Venture Capital has led a £15m investment round in Bowman Power Limited, the Southampton based microturbine system manufacturer. This investment is the second phase of an investment programme put in place in August 2001, when Schneider and Singapore Power invested, bringing both capital and new business partners to Bowman. £12.78m was subscribed at that time.
Quester, OPG Ventures Inc, and 3i joined Lehman Brothers European in the investment round. Existing investors, including Micro-Generation Technology Fund Mitsui & Co Europe Northern Venture Managers and NPM Capital also participated. The funds will be used to continue the company’s expansion.
VCs back Meristem expansion
French biotechnology company Meristem Therapeutics has raised E21.15m from a new financing round. Meristem, which postponed a planned initial public offering last year citing adverse market conditions, received backing from a combination of new and existing investors.
Eight new investors including AGF Private Equity, Antin Innovation, CPR Private Equity and Innoven Partenaires have joined existing investors Banexi Venture Partners, BNP Private Equity, Tethys, 3i, Unigrains and Sofimac in providing the E21m, which the firm says will allow it to improve its industrial capacity to harvest therapeutic proteins from corn.