16 Feb, 2021
EQT declares Recipharm offer unconditional; Warburg invests in Personetics
* Private equity firm EQT AB (publ) declared its planned takeover of Swedish pharmaceutical company Recipharm AB (publ) unconditional. The transaction will be made through Roar BidCo AB, a unit of the private equity firm's EQT IX fund.
* New York-based Warburg Pincus LLC invested $75 million in Personetics Technologies Ltd., a provider of data-driven personalization and customer engagement solutions for banks and financial services providers.
➤ Blackstone eyes £1.8B unitranche to support Bourne Leisure buyout
Market sources report Blackstone will use a £1.8 billion unitranche loan to support its buyout of U.K. holiday group Bourne Leisure.
➤ LCD News Today, Europe: Feb. 15, 2021
Collateralized loan obligation liability costs are steady at pandemic-era tights, and this is helping to spur ongoing opportunistic requests in the loan market.
FUNDRAISING AND DEALS
* Hermosa Beach, Calif.-based private equity firm Marlin Equity Partners LLC acquired a majority stake in French e-commerce optimization platform Lengow. Marlin plans to increase the value of Lengow in the coming years, TechCrunch reported.
* New York-based private equity firm New Mountain Capital LLC agreed to acquire a significant majority stake in India-based cloud and digital product engineering services provider, Accolite Digital India Pvt. Ltd. New Mountain invested nearly $225 million to $250 million to acquire stake in Accolite, The Economic Times reported, citing people aware of the development.
* London-based private equity firm Actis LLP, Brookfield Asset Management Inc. and Edelweiss Infrastructure Yield Plus Fund's Sekura Energy Ltd. submitted separate nonbinding offers to acquire a majority stake in 500 MW Indian solar projects owned by Finnish state-run power utility Fortum Oyj, Livemint reported Feb. 15, citing two people aware of the development.
* London-based buyout firm Cinven Ltd. and Raffles Pte. Holdings Ltd., an investment vehicle controlled by Singapore sovereign wealth fund GIC Pte. Ltd., received regulatory approval in relation to their proposed takeover of Miller Insurance Services LLP.
* Paris-based Eurazeo SE held the initial closing of its Smart City II Venture fund at €80 million. Investors in the round include carmaker Stellantis, electric utilities EDF and Mainova, public transportation operator RATP, energy major Total, logistics company Duisport and Thai real estate developer Sansiri. The fund will invest in energy, mobility, property technology and logistics startups worldwide.
VENTURE CAPITAL
* Charlottesville, Va.-based clinical-stage biotechnology company HemoShear Therapeutics LLC raised $40 million in a series A funding round led by Suvretta Capital Management LLC. Janus Henderson Investors and Adage Capital Management LP, among other investors, participated in the round. In connection with the transaction, Reginald Woods, founding investor and board member of HemoShear, will retire from its board, while David Friedman managing director at Suvretta Capital and John Tilton will join HemoShear's board, FinSMEs reported.
* Processmaker Inc., which is a no-code/low-code open source process automation platform, secured $45 million in series A funding from Vienna, Va.-based Aldrich Capital Partners LLC. Processmaker focuses primarily on banking, higher education and manufacturing. The investment will support Processmaker expanding its presence in community banking, higher education and manufacturing.
* San Francisco-based Labelbox Inc., a training data platform for enterprise machine learning applications, raised $40 million in a series C funding round led by B Capital Group Management LP. Other participating investors included First Round Capital; Gradient Ventures; Kleiner Perkins Caufield & Byers; and Catherine Wood, CEO and founder of ARK Invest.
* New York-based stock-trading app Public Holdings Inc. or Public.com, is raising about $200 million in a funding round led by Tiger Global Management LLC, Business Insider reported Feb. 11, citing two people familiar with the discussions. Tiger Global is investing $100 million in the funding round and existing investor Accel Partners is participating. Public.com, which is valued at $1 billion prior to the funding round, could decide to raise more than $200 million, the sources said.
INDUSTRY NEWS
* A report from TechCrunch takes a look at how European venture capital funds are building community around environment, social and governance initiatives. The report tells about an initiative in which a group of 25 venture capital funds came together to form a community around ESG for the first time. The initiative is led by GMG Ventures and Houghton Street Venture, among others.
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