FTV invests $75M in DataArt; FFL Partners backs Abacus Group

TOP NEWS IN PRIVATE EQUITY

* FTV Management Co. LP, or FTV Capital, made a $75 million minority growth investment in global software engineering firm DataArt Enterprises Inc.

* FFL Partners LLC made a strategic growth investment in Abacus Group, a financial services-focused IT managed services provider.

➤ Arm IPO, T-Mobile shares top monetization options for Softbank after fund losses

After reporting historic losses for its Vision funds, SoftBank Group will need to raise capital. Analysts are weighing the Japanese conglomerate's options, including selling its shares in U.S. wireless carrier T-Mobile.

➤ Spike in distressed debt signals greater default potential

Bankruptcy and restructuring professionals say they are hearing more from banks and businesses that are preparing for troubles ahead.

READ MORE about the market reaction and industry impact of the evolving situation in Russia and Ukraine in our new Issue in Focus.

DEALS

* Actis LLP launched Bridgin Power, a power generation business that will focus on gas-fired power projects in Southeast Asia.

* Middle-market private equity firm The Riverside Co., through Riverside Strategic Capital Fund, acquired a noncontrolling stake in Apollo Interactive Inc., a technology-enabled lead generation provider serving insurance brokers and mortgage lenders.

* Vestar Capital Partners LLC sold technology and data analytics company Mercury Healthcare to WebMD Health Corp.

FUNDRAISING

* Arch Venture Partners LP raised nearly $2.98 billion at the close of ARCH Venture Fund XII LP. The vehicle will invest in early-stage biotechnology companies.

VENTURE CAPITAL

* Sterne India Pvt. Ltd.'s e-commerce platform, Arzooo, raised $70 million in a series B funding round led by SBI Investment Co. Ltd. and Trifecta Capital Advisors LLP, TechCrunch reported. Celesta Capital and 3 Lines Venture Capital, among other investors, participated in the round.

* Bond Capital Management LP led an oversubscribed $60 million series B round for home-based care company Believe Health Inc., doing business as Tomorrow Health. The round saw participation from Andreessen Horowitz LLC, BoxGroup Services LLC, Obvious Ventures LP and Sound Ventures LLC.

* Getvantage Tech Pvt. Ltd., an Indian revenue-based financing platform, secured $36 million in a growth funding round led by Varanium Nexgen Fintech Fund, a fund managed by Varanium Capital Advisors Pvt. Ltd. and DMI Alternative Investments Sparkle Fund, VCCircle reported. Chiratae Ventures India Advisors Pvt. Ltd. and Dream Incubator Inc., among other investors, also took part in the round.

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