VC-backed Etsy files for IPO

Brookyn-based Etsy Inc, a marketplace where people buy and sell “unique goods,” has filed for an IPO. The number of shares to be sold as well as the stock’s pricing terms have yet to be set. Etsy plans on listing the stock on the NASDAQ under the ticker symbol “ETSY.” Goldman, Sachs & Co. and Morgan Stanley & Co. LLC are the lead underwriters. Etsy’s backers include Index Ventures, Union Square Ventures and Accel Partners.

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peHUB First Read

First Read kicks off your morning with news of Morgan Stanley agreeing to a $2.6 billion mortgage settlement, Google is reportedly considering a stake in Jawbone and Auto Trader plans to launch an IPO on the London Stock Exchange.

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NCino racks up $29 mln Series B

Wilmington, North Carolina-based nCino, a provider of cloud-based bank operating solutions for the financial services sector, has closed $29 million in Series B funding. Insight Venture Partners led the round with participation from other investors that included return backers Wellington Management Company LLP and former Morgan Stanley Chairman and CEO John Mack. In conjunction with the funding, Jeff Horing, a managing director at Insight Venture Partners, has been added to nCino’s board of directors.

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VC-backed semiconductor company Easic files for IPO

Santa Clara, California-based semiconductor company Easic Corp has filed for an IPO. The number of shares that will be sold as well as the stock’s pricing terms have yet to be set. The company plans on listing the IPO on the NASDAQ under the ticker symbol “EASI.” Morgan Stanley & Co. LLC and Deutsche Bank Securities Inc will serve as the lead underwriters. Easic’s backers include Khosla Ventures, Kleiner Perkins Caufield and Byers, Crescendo Ventures, Seagate Technology and Evergreen Partners.

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Vector to buy Saba for $9 per share

Vector Capital has agreed to acquire Saba for $9 per share in an all-cash transaction. Morgan Stanley & Co. LLC is serving as financial advisor to Saba on the deal. Based in Redwood Shores, California, Saba is an intelligent talent management solutions provider.

Sam Smith poses with his awards during the 57th annual Grammy Awards in Los Angeles
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peHUB First Read

First Read groggily wakes you up with news Alibaba is investing $590 mln in smartphone maker Meizu, HSBC is said to have helped conceal $100 bln in Swiss accounts and Sam Smith triumphs at the Grammys, winning four top awards.

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Morgan Stanley raises about $1 bln for second mezzanine debt fund

Morgan Stanley has received about $1 billion for its second mezzanine debt fund. The LPs for Morgan Stanley Credit Partners II include unnamed global institutions and high net worth individual investors. According to the firm, it has already deployed more than $144 million from the fund in four portfolio companies.

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Riverside Partners promotes three

Riverside Partners has promoted Michelle Noon and Max Osofsky to partner. The company has also promoted Craig Stern to principal. Prior to joining Riverside, Noon worked at Thoma Bravo and Morgan Stanley while Osofsky was at Summit Partners where he served as a vice president. And before joining Riverside, Stern was at Nextag where he worked as a vice president of corporate development.

The Chicago skyline is seen as the arctic sea smoke rises off Lake Michigan in Chicago
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peHUB Second Opinion

In Second Opinion, NPS Pharmaceuticals hires Goldman Sachs to find a buyer, don’t expect many mega IPOs in 2015 and it’s very cold in Chicago right now.

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Pamplona to acquire Charter NEX Films

Pamplona Capital Management has agreed to buy Charter NEX Films, a maker of polyethylene films. No financial terms were disclosed for the transaction, which is expected to close during the first quarter of 2015. Houlihan Lokey Capital advised Charter NEX on the deal while Morgan Stanley provided financial advice to Pamplona. Charter NEX was previously owned by Mason Wells.

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