Utah-based Social network XYDO.com raised $1.25 million in a seed funding led by EPIC Ventures, the Draper Fisher Jurveston partner fund. Specifics on the funding round were not publicized. Nick Efstratis, a managing director at EPIC Ventures, who will join XYDO's board of directors.
Going public is all the rage for PE-backed companies. Avaya, which is owned by Silver Lake and TPG Capital, plans to file for a $1 billion IPO as early as this week, according to The Wall Street Journal. Silver Lake and TPG acquired Avaya, which makes phones and other telecom gear, in 2007 for $8.3 billion. Avaya will be the latest tech company to go public. But don't expect the rousing success of LinkedIn (it rocketed 109% in its first day) or the hot anticipation of Groupon (the Chicago company could be valued at $25 billion). Instead, Avaya will likely be similar to the tepid offering of Freescale, which rose about 2% its first day.
Dowden Health Media, which is owned by middle-market buyout shop High Road Capital Partners, has acquired Priority Integrated Marketing. Terms of the deal were not released. Priority Integrated Marketing is based in Minneapolis, and focused on the healthcare and financial services sectors. Dowden is based in Montvale, New Jersey.
A sale of Polish mobile operator Polkomtel will close in June, Reuters reported, citing comments by the chief executive of KGHM, which co-owns Polkomtel. The sellers – Vodafone, and a group of Polish state-linked companies including KGHM – expect to fetch up to 18 billion zlotys ($6.5 billion) in a sale. Private equity firm Apax Partners and a joint venture of Telenor and Bain Capital are among potential buyers.
Sterling Partners plans to raise $1.2 billion for its next fund, according to a form D SEC filing. With offices in Baltimore, Miami and Northbrook, Ill., Sterling focuses on education, healthcare, technology, direct marketing, business services and specialty manufacturing & distribution. The PE firm typically invests from $5 million to more than $150 million equity per deal, according to the firm's web site. The firm's last fund, Sterling Capital Partners III LP, raised $1 billion in 2007. Investors included the Commonwealth of Pennsylvania State Employees' Retirement Systems, as well as other pension funds, endowments, and foundations.
IDG Ventures and Granite Ventures, along with some of the company’s original investors, banded together to provide digital games publisher Telltale Games with a $7 million Series C investment. Phil Sanderson, IDG MD, and Chris Hollenbeck, Managing Director of Granite Ventures, worked on the transaction.
FTV Capital has invested $30 million into independent fund administration company Apex Fund Services, inking a minority stake in the company. Apex will use the money to expand its client services, which include supporting middle and back office fund administration, risk reporting and corporate secretarial and fund formation administration, as well as specialist start up services to asset managers, the company said. FTV Capital has more than $1 billion under management across three funds, and has offices in San Francisco and New York.
Baring Private Equity Asia announced Tuesday that it had acquired the tertiary education business of Singapore's PSB Academy, Reuters reported. The sale price was not disclosed. Baring has poured more than $400 million into education investments recently.
Nasdaq-listed, Washington state-based Concur, the travel and expense management company, will acquire GlobalExpense, a UK competitor, for 12 million pounds sterling plus a potential earn-out of up to 2 million pounds more. Concur was advised by Taylor Wessing LLP on the transaction.
Joseph Manko has joined Mufson Howe Hunter & Co. as an MD. He will focus on infrastructure, alternative & renewable energy and environmental services at Mufson, a boutique IB. Manko previously was a partner and CEO of BZ Fund Management, of Switzerland.