Raine Group closes Fund II on $850 mln

The Raine Group has closed on $850 million for Raine Partners II, a growth equity vehicle that beat its $750 million target. The fund focuses on growth investments in digital, media and entertainment and sports and lifestyle companies. Fund II has completed investments in consumer licensing company Margaritaville and fantasy sports business DraftKings. Raine also has hired Tom Freston, founder of entertainment investment and consultancy group, as senior advisor.


SIMI to acquire VC-backed DramaFever

SoftBank Internet and Media has agreed to buy DramaFever, an online video destination for international television shows and movies. No financial terms were disclosed. The Raine Group was financial advisor in the transaction. DramaFever’s backers include AMC Networks, Bertelsmann, MK Capital, SoftBank Ventures and NALA Investments.


Bally agrees to buy VC-backed Dragonplay

Bally Technologies has agreed to buy Israeli social casino firm Dragonplay for approximately $100 million. The transaction is expected to close in July 2014. The Raine Group provided financial advice to Dragonplay on the deal. Dragonplay was backed by Accel Partners, Entrée Capital and Founder Collective.


CMC Capital Partners buys minority stake in IMAX China

CMC Capital Partners has acquired a 20 percent stake in IMAX China, an IMAX subsidiary. The value of the transaction is for $80 million, which will be paid in two installments, one today and the other in early 2015. The Raine Group advised IMAX on the deal. Headquartered in New York, Toronto and Los Angeles, IMAX is a film format company.

Madison Parker Capital sells beRecruited to The Raine Group

Madison Parker Capital has sold one of its portfolio companies, beRecruited, to The Raine Group, a private equity firm headquartered in New York City. Madison Parker Capital acquired beRecruited from its founders in 2007. Financial terms of the deal were not disclosed.

textPlus Raises Funds Led by The Raine Group

textPlus, a provider of free mobile communications worldwide, has raised $18 million in capital led by The Raine Group. Previous textPlus investors Kleiner Perkins Caufield Byers, Matrix Partners and GRP Partners have also joined in this fourth round of funding for the company. Proceeds will be used towards international expansion, product development and strategic acquisitions.

PE HUB Community

Join the 12525 members of PE HUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

PE HUB News Briefs

RSS Feed Widget