Observable Networks raises $2 mln

Observable Networks, a network security company, completed a $2 million financing round with participation from MK Capital. Observable Networks will use the funding to grow sales and marketing.


Silverfleet agrees to acquire stake in Avingtrans

Silverfleet Capital agreed to take a majority stake in the aerospace division of Avingtrans Plc (Sigma), which makes components for the commercial aerospace sector. Silverfleet will buy the stake for an enterprise value of 65 million pounds. Existing management will retain a minority interest.


Insignia Capital hires American Securities VP Julian Hinderling

Middle market firm Insignia Capital Group hired American Securities vice president Julian Hinderling as a vice president. Insignia, based in San Francisco, also hired Seun Svensson-Sodipo as a vice president, Aaron Keller as an associate and Paige Rasmussen as an administrative assistant. Svensson-Sodipo will join Insignia this summer. She previously worked as an investment associate at Helios Investment Partners.


Abraaj exits Unimed through IPO on Tunis Stock Exchange

The Abraaj Group exited its investment in Tunisian pharmaceutical company Unité de fabrication de médicaments through an initial public offering on the Tunis Stock Exchange. The IPO, the first in 2016 on the Tunis exchange, was priced at 11.8 Tunisian Dinars per share, implying a market cap of TND 300 million (about $150 million). Abraaj invested in Unimed in 2011.


Clearlake appoints operating advisor as CEO of Swiss Watch

Clearlake Capital-backed Swiss Watch International, Inc., named Keith Bradley as chief executive officer and Russell Ackner as chief marketing officer. Both appointments are effectively immediately. Bradley is a Clearlake operating advisor, while Ackner is returning to Swiss Watch, having previously spent more than three years as a vice president of marketing.

A woman and her dogs stop and look at a store mannequin wearing a dog's head mask outside a fashion shop in Nice, France, May 3, 2016. REUTERS/Eric Gaillard  - RTX2CNML

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First Read kicks off Hump Day w/ news acidic oceans eat the coral reef in the Florida Keys, Apple hires Nest’s head of tech and Wired kicks off inaugural sci fi book club.


Strattam completes investment in Blacksmith Applications

Strattam Capital completed a majority investment in Blacksmith Applications, Inc., a software-as-a-service platform for the consumer packaged goods industry. Strattam made the investment alongside Blacksmith’s management, led by founder and CEO Paul Wietecha. Terms of the deal were not disclosed.

A participant takes part in the annual Jack In The Green parade involving hundreds of costumed revellers joining a four hour procession culminating in the traditional 'slaying' of a Jack character to 'unleash the spirit of summer' on the May Day week end, in Hastings, southern Britain, May 2, 2016. REUTERS/Toby Melville     TPX IMAGES OF THE DAY      - RTX2CF4L

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To kick off your Tuesday, First Read has news Bitcoin Foundation chief scientist believes Craig Wright created bitcoin, hottest GPs dictate terms and startups try to make gas stations obsolete.


Goldman, Silverfern agree to buy Continental Bakeries

Goldman Sachs Merchant Banking and Silverfern agreed to acquire Continental Bakeries from NPM Capital. The deal is subject to routine regulatory clearances. Continental Bakeries specializes in private label biscuits, bread replacements and toasts.


CD&R agrees to buy artificial meat casing maker Kalle

Clayton Dubilier & Rice agreed to buy Kalle GmbH, which makes artificial casings for meat processing. Terms of the deal were not disclosed. CD&R Partner Vindi Banga will become chairman of Kalle at the close of the transaction, which is expected in the first half of 2016.

A 23-day-old hamadryas baboon plays with a stuffed toy at Sri Chamarajendra Zoological Gardens after the baboon, according to a zoo doctor, was abandoned by its mother after its birth on April 4, in the southern city of Mysuru, India, April 28, 2016. REUTERS/Abhishek N. Chinnappa - RTX2C1KX

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To end your week, First Read delivers one of the biggest stories of the decade: Bloomberg unmasks Zero Hedge. Also, CalPERS may reconsider avoiding tobacco investments, and diversity soars at Etsy.


HTC Corp launches $100 mln fund to invest in VR startups

HTC Corp launched a $100 million accelerator investment fund to focus on virtual reality startups. The fund will focus on three cities initially: Beijing, Taipei and San Francisco, and plans on rolling out into new areas. The program, called Vive X, is open to companies from any industry creating content, tools, applications and accessories that work in the VR ecosystem.


SWaN & Legend Venture leads $6.8 mln Series A funding in UrbanStems

SWaN & Legend Venture Partners led a $6.8 million Series A funding round in UrbanStems, an on-demand flower delivery service. Other participants in the funding included Middleland Capital, NextGen Venture Partners, Interplay Ventures and Sagamore Ventures. The funding will help UrbanStems expand in New York City and Washington, D.C. as well as other cities in the U.S., starting with Philadelphia and Baltimore.


NorthEdge Capital hires EY executive Wildsmith

NorthEdge Capital hired Ben Wildsmith as portfolio director to manage the existing portfolio and find new deals across northern England. Wildsmith joined NorthEdge from EY where he worked as corporate finance director in the regional debt advisory business.