BC Partners eyes $4B sale of Presidio; Motive raises $2.5B for flagship fund

TOP NEWS IN PRIVATE EQUITY

* BC Partners is working with an investment bank on a potential sale of Presidio Inc., Reuters reported July 12, citing two people familiar with the matter. A sale could value the information technology provider at more than $4 billion, including debt.

* Motive Partners raised $2.54 billion for Motive Capital Fund II and its affiliated co-investment vehicles. The firm's second flagship fund makes growth and buyout investments in software, investment and information services companies across North America and Europe.

➤ Zendesk to be acquired for $9.9B in wave of private equity software deals

Private equity firms have struck $67.5 billion of M&A deals in the global software and services sector year-to-date, on track to exceed the record year of 2021, S&P Global Market Intelligence data shows.

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

DEALS

* IK Partners' IK Investment Partners Fund IX agreed to buy a majority stake in consultancy and technology firm IG&H Holding BV for an undisclosed amount. The target company's founding management team is reinvesting alongside IK.

* 3i Group PLC agreed to invest in online travel agency VakantieDiscounter. Terms of the investment were not disclosed.

* MidOcean Partners LLP bought product management training company Pragmatic Institute from investors including Renovus Capital Partners. Financial terms of the transaction were not disclosed.

* Court Square Capital Management LP made a strategic capital investment in dental and orthodontic care provider West Coast Dental Services Inc.

FUNDRAISING

* Cinven Ltd. raised €1.5 billion for its Strategic Financials Fund. The vehicle invests in companies in the life and non-life insurance and reinsurance, asset-backed specialty finance, wealth management, insurance distribution, and other financial service sectors.

* Klarna Bank AB (publ) secured $800 million in a financing round, bringing its valuation to $6.7 billion. Private equity firms Sequoia Capital Operations LLC and Silver Lake Management LLC participated in the round. Proceeds will be used to expand in the U.S.

* Private equity and venture capital firms Eurazeo Investment Manager, Horizons Ventures Ltd., OMERS Ventures Management Inc. and Target Germanium GmbH participated in the $400 million series D funding round of insurance technology company Wefox Germany GmbH. The fundraising activity brought Wefox's valuation to $4.5 billion.

* End-to-end salary payments platform Kadmos GmbH raised €29 million in a series A funding round led by Blossom Capital Ltd.

VENTURE CAPITAL

* Valar Ventures LP raised $665 million for its Valar Fund VIII, DealStreetAsia reported, citing a filing with the U.S. Securities and Exchange Commission.

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