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Growth companies press for share options reform

20 years ago

Thirty million new jobs have been created in the US since 1970, compared with fewer than five million in Europe. European unemployment levels are now double the rate in the US. Given that the US model offers conclusive evidence of the role high-growth mid-sized companies play in job creation – 80 per cent of new […]

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Deutsche Telekom moves into Israel

20 years ago

T-Venture, the corporate venturing arm of Deutsche Telekom, has selected Magnum Communications Fund as its first Israeli fund investment, committing around ten per cent of the fund’s $70 million (euro 67 million) target. Through T-Venture, Deutsche Telekom is seeking international exposure to a broad range of communications and IT-related ventures through a portfolio of both […]

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– Foreign & Colonial broadens appeal

20 years ago

Foreign & Colonial Ventures Capital Partners V has closed on GBP183 million ($295 million), marking a triumphant return to the LP fund market for UK mid-market specialist Foreign & Colonial Ventures (FCV). At the end of last year, FCV set out to raise GBP100 million ($170 million) for the classic’ development capital and smaller buyout […]

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New fund emerges from DKB

20 years ago

Dresdner Kleinwort Benson (DKB) plans to hold an initial close for DKB Emerging Europe LP before the year end, with the ultimate aim of raising between $100 million and $250 million (euro 96 million to euro 240 million) for the fund, whose primary target markets are Poland, Hungary, the Czech Republic and the Baltic states. […]

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Alice Ventures targets Italian high-tech

20 years ago

At press time, MB Venture Capital Fund I and the European Investment Bank (EIB) were finalising the details of a euro 40 million co-investment agreement that would take the fund’s overall investment pool to euro 140 million. MB Venture Capital Fund I, which will target high-technology opportunities within its native Italy and throughout the rest […]

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Testing Covergenza theory

20 years ago

Venture capitalists worldwide have identified the area where telecommunications, information technology and media converge as a fertile – and rapidly expanding – source of investment opportunities. As its name suggests, Convergenza, a new Italian fund, will focus primarily on these sectors, but will also target biotechnology/healthcare and tourism/ services companies. Convergenza was conceived by Ubaldo […]

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Investors get in on the ACT

20 years ago

Dublin-based ACT Venture Capital has exceeded the IrGBP75 million (euro 95 million) target originally set for ACT 99, its second LP fund. Niall Carroll, ACT’s managing director, reports that six new investors have signed up to the fund since its GBP45 million March first close, taking the vehicle to between IrGBP80 million and IrGBP85 million […]

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Gaon and Bank Austria in scientific experiment

20 years ago

Whereas in the past, the Israeli venture industry has tended to look first to the US, both as a source of capital and alliances and as an exit route, Israeli investment company Gaon Holdings (Gaon) has joined forces with Bank Austria to launch a venture fund which aims to open the door to and from […]

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Exits – HSBC Private Equity makes paper profit

20 years ago

Sweden’s SCA Group has acquired AM Paper Group (AMPG) of the UK for Skr2.55 billion ($308 million), providing HSBC Private Equity with a 68 per cent IRR on its investment in the soft tissue supplier. HSBC Private Equity’s involvement with AMPG dates from late 1997, when the private equity group’s Manchester office led a GBP145 […]

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Advent exits lighting and bakery deals

20 years ago

Advent Limited in August announced the sale of two UK investments dating from the early 1990s, IBL Holdings, an expansion capital deal, and Maison Blanc, a buy-in from receivership. IBL, a supplier of integrated low-voltage lighting products, was seven years old when it raised an initial round of development funding from Advent in 1991. Advent […]

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Halder quadruples its money in German exit

20 years ago

When Thermedics Inc of the US, part of the Thermo Electron Group, recently acquired Germany’s Erich Jaeger for some euro 38 million, the transaction marked a profitable exit for Halder’s Frankfurt private equity operation. In December 1994, Halder backed a buy-in/buyout of Jaeger, a deal designed to resolve succession issues at the designer and manufacturer […]

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Mercury strikes gold with Sunsail

20 years ago

Airbreak Leisure is paying GBP35 million ($56.4 million) for Sunsail, the world’s largest sailing holiday business in a transaction which delivers a 31 per cent IRR over nearly seven years for Mercury Private Equity (MPE). MPE acquired Sunsail from receivership in late 1992, investing GBP3.75 million ($6 million) in the ungeared transaction. MPE managing director […]

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Anti-piracy booty swells VC coffers

20 years ago

Macrovision Corporation of the US this summer bought out the other shareholders in C-Dilla, the copy protection and rights management technology specialist. The deal, which valued UK-based C-Dilla at $22 million (euro 21 million), provided a profitable exit for its venture backers Quester VCT, Abingworth and Alta Berkeley. This Quester-led syndicate invested GBP1.5 million ($2.4 […]

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Deal of the month: Profiad – Mercury rising to challenge of drugs trials

20 years ago

Mercury Private Equity (MPE) has made a GBP7.1 million ($11.6 million) expansion investment in UK company Profiad as it spies an opportunity to improve the clinical trials procedure on behalf of pharmaceuticals companies. Profiad is a site management organisation (SMO) business which organises patient recruitment and trial management services for sponsors of pharmaceutical clinical trials. […]

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People Moves – MGPE completes German team as new fund signs $700 million

20 years ago

Morgan Grenfell Private Equity (MGPE) has brought its new German operation up to full strength with the appointment of a fourth executive, and the group’s Frankfurt office is now up and running. Market reports indicate that the group also recently held a first closing on Deutsche European Partners IV, the euro 1.5 billion target vehicle […]

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Landmark staffs up to expand in Europe

20 years ago

Connecticut-based alternative investments specialist Landmark Partners is eyeing the European secondary and primary fund markets. The group has appointed Simon Thornton as vice president to spearhead its European expansion. Thornton for the past six years was responsible for fund-raising and investor relations at BC Partners. At Landmark, he will have a dual role, both sourcing […]

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IanTaylor will expand ABN Amro into larger buyouts market

20 years ago

ABN Amro has announced that Ian Taylor is taking over this month as head of ABN Amro Development Capital. The UK arm of the bank’s global private equity business was formed in1996 when ABN Amro acquired the venture manager Causeway. Taylor, formerly a managing director of Legal & General Ventures, will succeed Lionel Anthony, co-founder […]

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DKB hires team for Italy

20 years ago

In line with its intention of developing a mid-market private equity business throughout Europe, Dresdner Kleinwort Benson recently set up an Italian operation, DKB Private Equity Italia. In Italy, as much as in Germany, a shortage of seasoned private equity managers is often a barrier to entry for overseas players. DKB, however, was fortunate enough […]

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