NVP related stories
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Venture-backed M&A activity shows encouraging signsIn the third quarter, venture-backed M&A activity remained soft, with 107 deals reported, compared to 125 for the same period a year ago. Likewise, the first three quarters of 2013 saw just 286 VC-backed deals with disclosed valuations, well off the 362 transactions for the same period in 2012.
VC-backed cloud network services provider Virtela sells for $525 mlnVenture-backed Virtela Technology Services Inc. announced it has been acquired by NTT Communications Corp. for $525 million in cash. Virtela, which provides cloud network services, had previously raised $65 million in venture funding from Norwest Venture Partners, New Enterprise Associates, Newton Technology Partners and a number of other investors, according to data from Thomson Reuters (publisher of peHUB). Norwest led all the rounds in Virtela, which was founded in 2000 and incubated at Norwest's office in Palo Alto, Calif. Promod Haque, senior managing partner at Norwest, currently serves as chairman of Virtela, which is based in Greenwood Village, Colo.
- Venture-backed M&A activity shows encouraging signs
Norwest Venture Partners among the firms to enjoy multiple exits recently
Venture-backed M&A activity shows encouraging signsNorwest Venture Partners among the firms to enjoy multiple exits recently
- Comcast Ventures leads SundaySky's Series C
SundaySky, which provides video advertising services, has raised $20 million in a Series C investment round that was led by Comcast Ventures. Others in the round include Liberty Global Ventures, Vintage Investment Partners and existing investors Carmel Ventures, Globespan Capital Partners and Norwest Venture Partners. The company previously raised $17 million in funding, including a $9 million Series B round in 2010. As part of the recent round, Andrew Cleland, managing director of Comcast Ventures, has joined the board.
- Dutch market falls flat
Private equity in the Netherlands slowed down noticeably in 2012 – and while there’s been no sign of a rebound so far this year, there is some cautious optimism about the second half
- Dutch market slows down
Dutch GPs saw a significant increase in write-offs last year, while both fundraising levels and deal flow dropped, according to a study by Dutch private equity industry body NVP.
- Dutch bonus cap could pressure GPs
Plans by the Dutch government to cap variable pay at financial institutions at 20% could result in additional pressure on pension funds and GPs to comply with these regulations as well, industry sources warn.
- Avedon closes first independent fund on €190m
The firm, which spun out from NIBC Bank in 2011, has been backed by LPs like Adveq, Access Capital Partners, Goldman Sachs and Macquarie Group.
- ClearData Raises $7 Mln
ClearDATA Networks has secured $7 million in Series B funding from Norwest Venture Partners (NVP) and Excel Venture Management. Phoenix-based ClearData provides healthcare cloud computing and information security services for healthcare providers, software vendors and VARs.