Nissan is selling its 66.7 per cent stake in the logistics company to Start Holdings Co Ltd, a holding firm set up by 3i and Vantec executives.
Engine-supply company First Line has been in receivership since October 2000 despite the fact that it has been consistently profitable in the 17 years since it was set up..
The second round of financing will be used to develop operations in the US and the UK. The Fool is also negotiating a venture in Japan.
NVCA: "The industry is catching its breath". Even so, deal flow remains healthy, VC's are still well-funded, and new funds are being raised.
New owner Sanitec is strengthening its position in ceramics and bath and shower products in Europe.
The UK manufacturer of clothes and toiletries has been approached by its management and some members of the Dewhirst family.
There are reports that a management buyout backed by UBS Capital is on the cards.
Officials are set to question Rolls-Royce about its restructuring plans amid speculation that it will mean 2000 job losses by 2003.
The company sees potential in the European technology, internet and telecom sectors.
The VC firm sees high growth potential for PFE's flat panel screen developments.

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