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Eucalyptus Ventures Rounds Up $55 Million

20 years ago

Eucalyptus Ventures, the first fruit of a strategic alliance between Hambrecht & Quist (H&Q) of the US and the Israeli investment bank Tamir Fishman & Co, held a final close on $55 million (ecu 46 million) in November. Among a plethora of vehicles focusing on Israel’s prolific high-technology sectors, Eucalyptus Ventures is unique in having […]

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AXA Launches Twin International Funds-of Funds

20 years ago

AXA Investment Managers in November began formal marketing for two funds-of-funds, one focusing on the US and one covering Europe and Asia. These are the first funds-of-funds launched directly by the asset management arm of AXA Group, the major international insurance business, although AXA is the majority owner of Donaldson Lufkin & Jenrette, which operates […]

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INVESCO Preps Flexible Fund-of-Offering

20 years ago

The steady flow of international fund-of-funds offerings throughout 1998 shows no signs of diminishing as yet. As the year end approaches, INVESCO Private Capital – previously Chancellor LGT Capital Management – is preparing to hit the fund-raising trail with a $500 million (ecu 420 million) offering, INVESCO Partnership Fund II. The vehicle is a successor […]

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Warburg Pincus Wraps $5 Billion Giant

20 years ago

At its final close on $5 billion (ecu 4.2 billion) in September, Warburg, Pincus Equity Partners ranked as the second-largest private equity fund ever raised, behind Kohlberg Kravis Roberts & Co.’s $5.7 billion 1996 Fund. EM Warburg, Pincus & Co set a $3 billion target for the latest vehicle at its launch last autumn. Although […]

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Doughty Hanson To Make Its Move Into US Market

20 years ago

Following Sir Isaac Newton’s theory that for every action there is an equal and opposite reaction, Doughty Hanson & Co. in the coming year will open New York offices and begin targeting the US for potential acquisitions, said a spokesperson at the firm. The move by the European giant, which raised $2.5 billion (ecu 2.1 […]

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TTP SeeksEuropean Venture Debut

20 years ago

UK innovation specialist TTP Group – originally The Technology Partnership – is in the process of raising its maiden venture fund, to be managed by its newly-formed subsidiary TTP Venture Managers. TTP is targeting as much as GBP50 million (ecu 71 million) for the TTP Venture Fund, which is slated for investment across a spread […]

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EIB Supports CapMan’s Finnmezzanine II

20 years ago

CapMan Capital Management in November closed its second mezzanine vehicle, Finnmezzanine Fund II, on FMk 520 million (ecu 87 million). The total included a FMk 100 million commitment from the European Investment Bank (EIB), its first direct venture investment in Finland. CapMan’s first Finnmezzanine Fund, created in 1996, raised some FMk 190 million and is […]

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New Climate of Optimism For High-Tech VC in Italy

20 years ago

Italy’s entire private equity market should receive a welcome boost when the government passes new closed-end fund legislation in January to create more efficient structures for international institutional investors. The new year, however, may also signal the beginning of a long-awaited spring for Italy’s underdeveloped early-stage high-technology investment sector. The first signs of a thaw […]

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TechnoStart Ventures On Course for Target

20 years ago

German early-stage investment specialist TechnoStart hopes to close its new fund, TechnoStart Ventures GmbH & Co Fonds, on DM80 million (ecu 41 million) by the year end. The vehicle held an October second closing on DM50 million. Investors signed by the second closing included TBG, the European Investment Fund, Technologie Holding and Dow. TechnoStart Ventures […]

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Central Europe Media Fund Closes on $70 Million

20 years ago

Barings Private Equity Partners (BPEP) and Communications Equity Associates in September held a $70 million (ecu 59 million) final close for Baring Communications Equity Emerging Europe (BCEE). Focusing on Central and Eastern Europe, BCEE is the joint venture partners’ third specialist media fund and complements vehicles targeting Western European and Asian media and telecommunications companies. […]

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BancAmerica Equity Partners Eyes German Mid-Market

20 years ago

BancAmerica Equity Partners (BAEP), the private equity arm of Bank of America, in October appointed Jurgen Immer as a principal to head its activities in Germany and the German-speaking markets. He will be based at a new office in Frankfurt, which will complement BAEP’s existing European offices in London and Warsaw. Jurgen Immer joined BAEP […]

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NeSBIC’s Converging Technology Fund Hits Target

20 years ago

NeSBIC Groep in mid-December was putting the finishing touches to the NeSBIC Converging Technologies Europe Fund (NeSBIC CTE Fund), which is set to close on or above its DFl 100 million (ecu 45 million) target. Robert Wilhelm, an investment director of the fund, said the final close could be extended into the new year and […]

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BNP Group Markets First Central Europe Fund

20 years ago

Banque Nationale de Paris (BNP) and BNP Private Equity (BNP PE), the newly formed portfolio management subsidiary of the Banexi Group, in October launched a $135 million (ecu 114 million) fund targeting Central Europe. The two groups, which have committed $20 million to the BNP Central European Partnership Fund, their first private equity vehicle for […]

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Advent Central Europe II Effort Beats Target

20 years ago

Advent International added $98 million to its second Central and Eastern Europe fund in an October final closing that took the vehicle to $180 million (ecu 151 million). Advent Central & Eastern Europe Fund II (Advent CEEF II), which had an original target of $150 million, was launched in the autumn of 1997 as a […]

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Parallel Ventures Appoints RBDC as Third Manager

20 years ago

Parallel Ventures Managers in late October announced that it has appointed Royal Bank Development Capital (RBDC) as its third private equity fund manager. The group has allocated GBP200 million (ecu 284 million) for co-investment in RBDC transactions during the next five years. A spin-out from AXA Sun Life Asset Management (AXA SLAM), Parallel Ventures this […]

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GIMV Unveils International Ambitions

20 years ago

GIMV, the Flanders-based investment group in October announced a BFr 4 billion (ecu 100 million) raft of commitments to international funds, signalling the group’s intention to develop into a significant force outside its domestic market. Three of the fund investments, in Sofinnova Capital III (story, page 13), Galileo II and REL-Club Deal, involve France-focused funds. […]

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Alpinvest Links with Excel

20 years ago

Excel Partners, which hopes to close its Pta 15 billion (ecu 90 million) target Excel Capital Partners III fund at the year end or early in 1999, has signed up Alpinvest of the Netherlands as a major investor. Alpinvest has committed Pta 2.5 billion to Excel Capital Partners III and, through a co-investment agreement, may […]

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TVM Rides German Biotech Wave

20 years ago

TVM Techno Venture Management has expanded its biotechnology portfolio at a cracking pace since 1997 when its ecu 92.5 million TVM III fund began investing. Spurred by the unprecedented levels of biotechnology and life sciences investment opportunities available both in Germany and elsewhere in Europe, TVM in the spring of 1998 launched a dedicated biotechnology […]

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