NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that KKR has sold a portfolio of distribution properties located in Chicago to a global investment manager. The portfolio consists of 13 assets with approximately 1.7 million square feet (SF) of warehouse space and average clear heights of 24 feet. The properties are located in strategic infill locations across the Chicago metropolitan area.
“We continue to see strong demand for well-located, last mile logistics real estate across Chicago,” said Ben Brudney, a Director in the Real Estate group at KKR who oversees the firm’s industrial investments in the United States. “We are very pleased to deliver this portfolio of high-quality assets to new owners who share our conviction in the market.”
KKR originally acquired the properties in December 2020 through its KKR Real Estate Partners Americas II fund. Across its funds, KKR has committed or acquired over $7 billion of U.S. logistics assets since 2018 and currently owns over 45 million SF of industrial real estate in strategic locations across major metropolitan areas nationwide.
About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
Cordatus XXIV is the fourth new CLO fund priced by CVC’s €32 billion Credit platform in 2022, despite challenging market conditions.
CVC Credit is pleased to announce that it has priced Cordatus XXIV, a Collateralized Loan Obligation (“CLO”) fund totalling €355m, arranged by Goldman Sachs. This is the fourth new CLO fund CVC Credit has announced globally this year. Together, these new funds have an aggregate value of nearly €1.8bn.
Cordatus XXIV was upsized by €30m due to strong support from a diverse book of both new and longstanding investors. As with previous Cordatus funds, Cordatus XXIV is primarily comprised of broadly syndicated First Lien Senior Secured Loans.
Guillaume Tarneaud, Partner and Head of European Performing Credit at CVC Credit, said: “We are thrilled to have priced our second European CLO of 2022. We were especially pleased with the strength of support we received despite the challenging market conditions. Pricing a CLO in such an environment positions us well to buy assets at attractive levels over the coming weeks.”
We are thrilled to have priced our second European CLO of 2022. We were especially pleased with the strength of support we received despite the challenging market conditions. Pricing a CLO in such an environment positions us well to buy assets at attractive levels over the coming weeks.
Guillaume TarneaudPartner and Head of European Performing Credit at CVC Credit
Gretchen Bergstresser, Partner and Global Head of Performing Credit at CVC Credit, said: “In spite of market conditions, and thanks to the combined strengths of our terrific teams in New York and London, 2022 continues to be a successful year for us. We were delighted with our record performance in 2021, and given the pricing just announced for Cordatus XXIV we are optimistic that will be able to launch further new issuances across our transatlantic CLO business throughout the remainder of the year.”
DIF Capital Partners (“DIF”), through its fund DIF Infrastructure III, is pleased to announce that the closing of the divestment of its indirect 45% ownership stake in the University Hospital Schleswig Holstein’s (“UKSH”) PPP project to current co-shareholder Invesis took place today. The UKSH PPP focuses on the construction, renovation and maintenance of one of Europe’s largest centres for medical care at its locations in Kiel and Lübeck in Germany.
DIF originally invested in the UKSH PPP project in 2014, alongside current co-shareholders Invesis and VAMED Deutschland Holding GmbH (“VAMED”). DIF is proud to have been part of this landmark PPP project in Germany, which is delivering state of the art hospital facilities to one of the largest hospitals in Europe. The opening of the newly constructed facilities in Lübeck and Kiel in 2019 marked an important milestone in the Project and shows the parties’ track record in successfully delivering complex infrastructure projects.
Herbert Smith Freehills provided legal advice and Reed Smith provided tax advice to DIF.
About UKSH
The University Hospital Schleswig-Holstein with locations in Kiel and Lübeck in Northern Germany is one of the largest medical care centres in Europe. With currently 14,000 employees in over 89 clinics and institutes, UKSH is the largest employer and training provider in the German State Schleswig-Holstein.
About DIF Capital Partners
DIF Capital Partners is a leading global independent investment manager, with ca. EUR 14 billion in assets under management across eleven closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australia through two complementary strategies:
Traditional DIF funds, of which DIF Infrastructure VI is the latest vintage, target core infrastructure equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and energy transition projects (incl. renewable energy).
DIF CIF funds, of which DIF CIF III is the latest vintage, target equity investments in small to mid-sized core-plus infrastructure companies in the telecom, energy transition, and transportation sectors.
DIF Capital Partners has a team of over 190 professionals, based in eleven offices located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.
CVC Fund VIII and CDP Equity (CDP Group)’s investment will support Maticmind’s ambitious growth strategy to become the leading Italian IT company focused on proprietary intelligence technologies and integrated solutions in networking, cybersecurity, datacentres, cloud solutions and IoT.
CVC Capital Partners Fund VIII (“CVC Fund VIII”) and CDP Equìty, a company wholly owned by Cassa Depositi e Prestiti (“CDP”), are pleased to announce that they have signed a definitive agreement with Carmine Saladino, Chairman of Maticmind, and Fondo Italiano d’Investimento SGR to acquire 100% of Maticmind. Upon completion, CVC Fund VIII will own 70% of Maticmind, with CDP Equity and Carmine Saladino owning 15% each.
During the partnership with Fondo Italiano d’Investimento, Maticmind has grown rapidly by adding to its offering proprietary technologies in intelligence, cybersecurity, IoT and network engineering and reinforcing its system integration capabilities in digital workplace, datacentres and cloud solutions. The company’s vision is driven by technological excellence and innovation, and it is committed to partnering with its clients to lead the digital transformation of the Italian public and private sector and to become the national champion of intelligence technologies.
Giorgio De Palma, Partner at CVC said: “We are thrilled to invest in Maticmind, a true innovator in the IT space that is playing a critical role in the digitalisation journey of Italy and in the development of a national hub for intelligence technologies.” “We are delighted to partner on this investment with CDP Equity and Carmine Saladino, who will provide enormous support to the growth of the company especially in cyber technologies,” added Andrea Peyracchia, Senior Managing Director at CVC.
Carmine Saladino, Chairman of Maticmind said “I would like to thank the Fondo Italiano d’Investimento team for the support and expertise proven over past years and it is a privilege to welcome CVC and CDP Equity as our investors, which represents a significant endorsement of the company we have built. We are very much looking forward to working with CVC and CDP Equity to transform the IT space in Italy and achieve our ambitious targets.”
Pierpaolo Di Stefano, CDP Equity’s Chief Executive Officer, said that “with the investment in Maticmind, we are pursuing our strategy aimed at implementing the guidelines of the CDP Group’s 2022-2024 business plan which, for the digitisation pillar, has identified four areas of interest represented by development of connectivity infrastructure; support for the digitisation of businesses and the Public Administration and strengthening of digital security. The transaction is also consistent with the equity investment portfolio rotation principle. Finally, the Cdp Group, as an investor in the funds managed by FII, will benefit from the distribution of proceeds by FII in conjunction with the sale of its stake in Maticmind, which will be partially redeployed to fund the transaction.”
Gianpaolo Di Dio, Senior Partner and Chief Investment Officer at Fondo Italiano d’Investimento said: ”We are proud to have been a part of the growth journey of Carmine Saladino and Maticmind. The business has grown by 50% with revenue in excess of €400m and now Maticmind is now ready for the next step of growth with new shareholders.” “In less than two years we have completed 6 acquisitions, and thanks to the effort of the entrepreneur and the entire management team the company is now well positioned in new technologies and value-added services, including cybersecurity and cloud solutions”, added Aldo Di Bernardo, Senior Partner at Fondo Italiano d’Investimento.
We are thrilled to invest in Maticmind, a true innovator in the IT space that is playing a critical role in the digitalisation journey of Italy and in the development of a national hub for intelligence technologies.
Giorgio De PalmaPartner at CVC
In parallel to the transaction, Maticmind has also announced the acquisition of a majority stake in SIO, an Italian leader in the cybersecurity market and intelligence technologies. Elio Cattaneo and SIO’s co-founding partners will continue to own a minority stake in the company. Elio Cattaneo remains as CEO and Chairman of SIO and said: “I am satisfied with the performance achieved by SIO over the past 30 years thanks to its leading technologies and market position and I am excited to participate to such an ambitious project.”
NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, and Loop Capital Markets (“Loop Capital”), a black owned and led investment bank, brokerage and advisory firm today announced a strategic alliance under which Loop Capital could independently offer investment banking and equity research capabilities to KKR’s equity capital markets (ECM) clients, which include private companies and private equity sponsors.
The ability for Loop Capital to offer its services to KKR equity capital markets clients will bolster KKR’s capacity to serve as a full-service underwriter for initial public offerings (IPOs) for both KKR portfolio companies and non-KKR affiliated companies. The strategic alliance will also broaden KKR’s distribution base for ECM transactions by providing the firm with access to Loop Capital’s complementary base of institutional investors.
KKR has worked with Loop Capital on ECM transactions since 2011 when Loop Capital was part of the underwriting syndicate for the IPO of Nielsen, a former KKR portfolio company. Since then Loop Capital has served as an underwriter on 15 KKR capital markets transactions, including IPOs and follow-on offerings for Fiserv, Academy Sports & Outdoors and KKR Acquisition Holdings I.
“This is an important milestone for our capital markets business and a testament to our continued commitment to expanding our ECM capabilities for the benefit of our clients,” said Adam Smith, Co-Head of Credit and Capital Markets at KKR. “We are excited to deepen our relationship with Loop Capital and look forward to bringing the benefits of their market-leading franchise to our platform.”
“We are thrilled to enter into this strategic alliance with Loop Capital to add to the suite of capabilities that we currently offer, particularly in relation to equity research and institutional sales,” said David Bauer, Managing Director and Head of Equity Capital Markets at KKR. “We are committed to providing our clients with the resources they need to be successful and entering this strategic alliance helps bolster this ability.”
“We have worked with KKR for over a decade and have tremendous respect for the leading capital markets platform that they have built,” said Jim Reynolds, CEO of Loop Capital. “I look forward to expanding our collaboration and bringing our firms closer together through this strategic alliance.”
KKR has issued more equity to the public markets over the past decade than any other private equity firm. KKR launched its capital markets business in 2007 to provide custom financing solutions and capital markets execution for its portfolio companies and investors. Today, KKR Capital Markets (KCM) is a global, full-service capital markets platform that provides tailored financing and execution for every stage of an issuer’s lifecycle. KCM supports KKR companies and non-KKR affiliated corporate clients, including other sponsors, and has a dedicated team of more than 70 professionals globally.
About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
About Loop Capital Markets Loop Capital is a full-service investment bank, brokerage and advisory firm that provides creative capital solutions for corporate, governmental and institutional entities across the globe. Loop Capital was founded in 1997 and is now one of the largest privately-held investment banks in the U.S. and the largest minority or women owned investment banking firm in the world. Loop Capital’s reputation for integrity and service – coupled with the firm’s track record of success – has allowed them to serve an expanding number of clients from coast to coast and globally. The firm’s uncompromising commitment to excellence means that clients get superior, focused service across the entire platform.
Founding investors of the new fund include BGF, The Hg Foundation (backed by software investor Hg), Senior Hg Partners and Atomico.
Investments will target UK tech-enabled businesses at pre-seed and seed stage led by diverse teams.
LONDON, under embargo until 05:00 Wednesday 3rd August 2022 Cornerstone VC, born out of black-led angel group Cornerstone Partners, has launched a £20m fund to invest in exceptional entrepreneurs in the UK from diverse backgrounds.
The fund will focus on tech-enabled companies at pre-seed and seed stage, typically investing initial cheques of between £250k and £1m with capital reserved for follow-on funding. It plans to invest in up to 40 companies with a significant proportion based outside of London. In an innovative ‘twist’ on the traditional VC model, Cornerstone’s angel network will also receive a share of the fund’s profits via carry participation.
Cornerstone VC’s mission is to establish a leading VC firm with a diversity led investment strategy that unlocks outperformance and delivers returns for investors. Building upon the findings of its research report – Access to Venture Capital (2021) – Cornerstone VC will target management teams with inherent (such as age, gender or ethnicity) and acquired diversity (social capital) and address the equity funding gap for entrepreneurs that are too often overlooked and underestimated by the wider funding community.
Cornerstone VC is led by Rodney Appiah, Founder and Managing Partner, alongside partners Edwin Appiah and Wilfred Fianko. Rodney co-founded Cornerstone Partners in 2016, is a non-executive director of UKBAA and Conduit Connect, and was formerly an investor at BGF and Foresight Group. Recent investments from the team’s pre-seed angel portfolio include ByRotation, Passionfruit, Hutch and MoonHub.
BGF, the UK’s most active investor of growth capital and The Hg Foundation, a grant-giving charity with a mission to remove barriers to education & skills in technology, both led the first round close, as well as others including Atomico, one of Europe’s leading VC funds focusing on Series A and beyond. Other investors include Nic Humphries and several senior partners from Hg, a leading software and services investor, as well as other individual investors including former BVCA Chair Neil Macdougall, Scott Mackin, Jamie Broderick, Stefan Ericsson and Sidumiso Sibanda.
“We are on a mission to put teams at the heart of our investment approach, believing diversity is key to driving outperformance. We are looking for businesses that are intentional about team composition, can excel in high growth environments and are truly obsessive about execution. People first, software second.”
“Contrary to perceptions around a pipeline problem, we don’t see any evidence of that. We meet more than 500 diverse founder led businesses a year and our own data indicates that there is a growing pipeline of high growth, innovation led, investment opportunities led by diverse founders, particularly at pre seed and seed stage requiring further institutional investment.”
Rodney Appiah, Managing Partner at Cornerstone Partners
Rodney has served as a committee member for Lloyds Banking Group’s Black Business Advisory Committee, Innovate UK’s Credit Committee and the London Chamber of Commerce and Industry’s Black Business Association. He previously chaired the CBI’s London Under 35 Committee.
Edwin currently serves as an IC member of Imperial College’s Enterprise Fund and was a former International Banker at Coutts, advising more than 100 owner manager businesses across US and Europe.
Wilfred currently serves as a board observer at a leading LSE Listed Private Equity firm in the UK and was formerly a senior management consultant at UBS and KPMG, specialising in financial services transformation.
“We are delighted to be backing Rodney, a BGF alumni, and the team at Cornerstone VC in the launch of its ground-breaking seed-stage tech fund, which complements BGF’s established minority investment for small and mid-sized growth businesses.”
“BGF is actively committed to supporting a targeted range of activities where the objective is to make a real and meaningful difference to broader representation in the investment and entrepreneurial communities. We are very encouraged that the work we have done supporting female entrepreneurs has resulted in us being the most active investor in women-led scaleups in the country.”
Stephen Welton, Executive Chair, BGF
“Hg has over 20 years’ experience in partnering with and rapidly growing innovative software businesses. This experience has demonstrated that diversity in leadership often leads to better investment and business decisions. Diversity in the technology sector continues to be a priority for us, the businesses we invest in and is also at the heart of The Hg Foundation. As such my colleagues and I are delighted to support the Cornerstone team and we look forward to working together.”
Nic Humphries, Senior Partner and Executive Chairman at Hg
Advisors:
RW Blears LLP (acting for Cornerstone VC) – Adam Lawrence, Christopher Spencer
Macfarlanes LLP (acting for BGF) – Stephen Robinson, Amelia Le Coyte, Catherine Born.
Proskauer Rose LLP (acting for Hg Foundation) – Nigel Van Zyl, Christopher Elson, Kobe Chow
The Fund Incubator Limited (acting for Cornerstone VC) – Barry Lawson
Media contact:
Ben Goldsmith
ben@goldsmithcomms.com
+44 (0)7788 295 321
About Cornerstone VC:
Cornerstone VC is a venture capital fund focused on a ‘people first’ investment strategy, investing at pre-seed and seed stage in UK technology businesses. Cornerstone VC was born out of Cornerstone Partners, a leading angel network for diverse founding teams in the UK. To learn more about Cornerstone VC, please visit www.cornerstonevc.co
About BGF:
BGF was set up in 2011 and has invested £3 billion in nearly 500 companies, making it the most active investor in the UK. BGF is a minority, non-controlling equity partner with a patient outlook on investments, based on shared long-term goals with the management teams it backs. BGF invests in growing businesses in the UK and Ireland through its network of 16 offices. In 2018, Canada launched its equivalent – the Canadian Business Growth Fund – and in 2020, Australia did the same, both based on BGF’s funding model. To learn more about BGF, please visit: www.bgf.co.uk
About The Hg Foundation:
The Hg Foundation is a grant-giving charity with a defined focus on education and technology. Our goal is to support those who may otherwise experience barriers to access, with the acquisition of skills that are often required for employment within the technology industry. We aim to achieve this by providing funding and operational support to charitable schemes and partnerships across the UK, USA and Europe where we can demonstrate measurable, long-term and scalable impact and make a difference to those that need it most. The Hg Foundation is backed by Hg, a leading software and services investor. It is a registered Charity no. 1189216. Please visit www.thehgfoundation.com
About Atomico:
Founded in 2006, Atomico has partnered with over 100 ambitious teams – including those at Klarna, Supercell, Graphcore, Compass, MessageBird, Masterclass, Attentive Mobile, Pipedrive and Hinge Health. Atomico’s team of founders, investors and operational leaders have been responsible for global expansion, hiring and marketing at companies from Skype and Google to Twitter and Uber. The firm currently has $5B in assets under management. Please visit https://atomico.com
Founding investors of the new fund include BGF, The Hg Foundation (backed by software investor Hg), Senior Hg Partners and Atomico.
Investments will target UK tech-enabled businesses at pre-seed and seed stage led by diverse teams.
LONDON, under embargo until 05:00 Wednesday 3rd August 2022 Cornerstone VC, born out of black-led angel group Cornerstone Partners, has launched a £20m fund to invest in exceptional entrepreneurs in the UK from diverse backgrounds.
The fund will focus on tech-enabled companies at pre-seed and seed stage, typically investing initial cheques of between £250k and £1m with capital reserved for follow-on funding. It plans to invest in up to 40 companies with a significant proportion based outside of London. In an innovative ‘twist’ on the traditional VC model, Cornerstone’s angel network will also receive a share of the fund’s profits via carry participation.
Cornerstone VC’s mission is to establish a leading VC firm with a diversity led investment strategy that unlocks outperformance and delivers returns for investors. Building upon the findings of its research report – Access to Venture Capital (2021) – Cornerstone VC will target management teams with inherent (such as age, gender or ethnicity) and acquired diversity (social capital) and address the equity funding gap for entrepreneurs that are too often overlooked and underestimated by the wider funding community.
Cornerstone VC is led by Rodney Appiah, Founder and Managing Partner, alongside partners Edwin Appiah and Wilfred Fianko. Rodney co-founded Cornerstone Partners in 2016, is a non-executive director of UKBAA and Conduit Connect, and was formerly an investor at BGF and Foresight Group. Recent investments from the team’s pre-seed angel portfolio include ByRotation, Passionfruit, Hutch and MoonHub.
BGF, the UK’s most active investor of growth capital and The Hg Foundation, a grant-giving charity with a mission to remove barriers to education & skills in technology, both led the first round close, as well as others including Atomico, one of Europe’s leading VC funds focusing on Series A and beyond. Other investors include Nic Humphries and several senior partners from Hg, a leading software and services investor, as well as other individual investors including former BVCA Chair Neil Macdougall, Scott Mackin, Jamie Broderick, Stefan Ericsson and Sidumiso Sibanda.
“We are on a mission to put teams at the heart of our investment approach, believing diversity is key to driving outperformance. We are looking for businesses that are intentional about team composition, can excel in high growth environments and are truly obsessive about execution. People first, software second.”
“Contrary to perceptions around a pipeline problem, we don’t see any evidence of that. We meet more than 500 diverse founder led businesses a year and our own data indicates that there is a growing pipeline of high growth, innovation led, investment opportunities led by diverse founders, particularly at pre seed and seed stage requiring further institutional investment.”
Rodney Appiah, Managing Partner at Cornerstone Partners
Rodney has served as a committee member for Lloyds Banking Group’s Black Business Advisory Committee, Innovate UK’s Credit Committee and the London Chamber of Commerce and Industry’s Black Business Association. He previously chaired the CBI’s London Under 35 Committee.
Edwin currently serves as an IC member of Imperial College’s Enterprise Fund and was a former International Banker at Coutts, advising more than 100 owner manager businesses across US and Europe.
Wilfred currently serves as a board observer at a leading LSE Listed Private Equity firm in the UK and was formerly a senior management consultant at UBS and KPMG, specialising in financial services transformation.
“We are delighted to be backing Rodney, a BGF alumni, and the team at Cornerstone VC in the launch of its ground-breaking seed-stage tech fund, which complements BGF’s established minority investment for small and mid-sized growth businesses.”
“BGF is actively committed to supporting a targeted range of activities where the objective is to make a real and meaningful difference to broader representation in the investment and entrepreneurial communities. We are very encouraged that the work we have done supporting female entrepreneurs has resulted in us being the most active investor in women-led scaleups in the country.”
Stephen Welton, Executive Chair, BGF
“Hg has over 20 years’ experience in partnering with and rapidly growing innovative software businesses. This experience has demonstrated that diversity in leadership often leads to better investment and business decisions. Diversity in the technology sector continues to be a priority for us, the businesses we invest in and is also at the heart of The Hg Foundation. As such my colleagues and I are delighted to support the Cornerstone team and we look forward to working together.”
Nic Humphries, Senior Partner and Executive Chairman at Hg
Advisors:
RW Blears LLP (acting for Cornerstone VC) – Adam Lawrence, Christopher Spencer
Macfarlanes LLP (acting for BGF) – Stephen Robinson, Amelia Le Coyte, Catherine Born.
Proskauer Rose LLP (acting for Hg Foundation) – Nigel Van Zyl, Christopher Elson, Kobe Chow
The Fund Incubator Limited (acting for Cornerstone VC) – Barry Lawson
Media contact:
Ben Goldsmith
ben@goldsmithcomms.com
+44 (0)7788 295 321
About Cornerstone VC:
Cornerstone VC is a venture capital fund focused on a ‘people first’ investment strategy, investing at pre-seed and seed stage in UK technology businesses. Cornerstone VC was born out of Cornerstone Partners, a leading angel network for diverse founding teams in the UK. To learn more about Cornerstone VC, please visit www.cornerstonevc.co
About BGF:
BGF was set up in 2011 and has invested £3 billion in nearly 500 companies, making it the most active investor in the UK. BGF is a minority, non-controlling equity partner with a patient outlook on investments, based on shared long-term goals with the management teams it backs. BGF invests in growing businesses in the UK and Ireland through its network of 16 offices. In 2018, Canada launched its equivalent – the Canadian Business Growth Fund – and in 2020, Australia did the same, both based on BGF’s funding model. To learn more about BGF, please visit: www.bgf.co.uk
About The Hg Foundation:
The Hg Foundation is a grant-giving charity with a defined focus on education and technology. Our goal is to support those who may otherwise experience barriers to access, with the acquisition of skills that are often required for employment within the technology industry. We aim to achieve this by providing funding and operational support to charitable schemes and partnerships across the UK, USA and Europe where we can demonstrate measurable, long-term and scalable impact and make a difference to those that need it most. The Hg Foundation is backed by Hg, a leading software and services investor. It is a registered Charity no. 1189216. Please visit www.thehgfoundation.com
About Atomico:
Founded in 2006, Atomico has partnered with over 100 ambitious teams – including those at Klarna, Supercell, Graphcore, Compass, MessageBird, Masterclass, Attentive Mobile, Pipedrive and Hinge Health. Atomico’s team of founders, investors and operational leaders have been responsible for global expansion, hiring and marketing at companies from Skype and Google to Twitter and Uber. The firm currently has $5B in assets under management. Please visit https://atomico.com
Today it was announced that Accenture intends to acquire Sentia’s businesses in Belgium, Bulgaria and the Netherlands. Sentia’s Danish business will not be part of the transaction and will continue as an independent business under the Sentia brand, supported by Waterland Private Equity as its main shareholder. Accenture’s acquisition is subject to customary closing conditions, including regulatory approvals.
Following the closing of the transaction, Sentia Denmark will be 100% Danish, focusing on a Danish delivery to Danish customers, which will further strengthen its strong market position. Sentia Denmark has always been run mostly independently from the rest of the group given its local heritage and leadership.
Jakob Høholdt, managing director of Sentia Denmark, said:
“Through our buy-and-build strategy in Denmark in the past years, Sentia Denmark has become a leading and well-integrated hybrid cloud services player, with strong public cloud capabilities. Our Digital Experience Monitoring capabilities underline our focus to make IT work for client’s end-users. We are one of the largest independent cloud services providers in Denmark with offices throughout the country and have always operated standalone from the rest of the group due to our regional and client intimate setup. With the continued support of our shareholders, we are excited about this next phase as a 100% Danish business in which we will continue to focus on being the best possible cloud services provider for our customers, employees and all other relevant stakeholders.”
The majority shareholders of Sentia Group, being Waterland Private Equity and Belgian entrepreneur Jonas Dhaenens, applaud all of Sentia’s operations, whose employees and leadership have proven their superior customer service levels and profile as a leader in cloud services. They will continue to support Sentia Denmark’s growth ambitions and look forward to working together with the management team in the years to come to further strengthen its leading market position.
SILVR, THE FRENCH REVENUE BASED FINANCING COMPANY, COMPLETES A €18 MILLION FUNDRAISING OPERATION
Silvr announces a Series A fund raising operation of 130 million euros (including 18 million euros in equity and 112 million euros in debt) led by XAnge, Otium, Bpifrance, Eurazeo, ISAI and business angels : Alexandre Prot and Steve Anavi (co-founders of Qonto), Raphaël Vullierme (co-founder of Luko), Louis Chatriot (co-founder of Alma) and Pierre Dutaret (co-founder of Libeo)
By completing the largest fundraising operation in the Revenue Based Financing (RBF) sector in Continental Europe, Silvr becomes the European Operating System for financing digital companies and is recruiting 100 employees in 2022 to support its growth and develop its financing platform
After financing more than 100 companies in just one year after its launch, the company announces the upcoming creation of its own debt fund as well as strategic partnerships with banking players in 2022
A success story for the French Revenue Based Financing specialist
A French fintech company created by two serial entrepreneurs Nima Karimi and Grégory Tappero, Silvr, which gives companies access to a new form of financing, has accomplished a genuine exploit. After starting in 2020 by financing a dozen companies in equity for a million euros, then raising seed capital of €3 million at the beginning of 2021, the startup has recruited around twenty employees and financed more than 100 companies, including the most attractive French gems such as Pixpay, Cuure, Poiscaille, Lovys or Partoo.
Silvr has imported into Europe Revenue Based Financing, the “next big thing” in the fintech sector, an innovative financing model that enables companies to finance their growth while preserving their capital.
“As an entrepreneur for the past decade, I have been faced several times with the complexity of financing my startups. Banks are reluctant to grant bank loans to digital companies that do not have assets to provide as collateral.The complex and time-consuming journey of raising equity funds concerns only a handful of companies. I founded Silvr to democratise RBF in Europe, promote fairer access to capital and allow tens of thousands of entrepreneurs who create tomorrow’s services to unlock their growth potential”, says Nima Karimi, CEO and co-founder of Silvr.
A single mission: to provide those who create tomorrow’s businesses with the means to succeed
By creating the most founder-friendly financing solution possible, Silvr’s mission is to help entrepreneurs succeed. It is essential for them to be able to access funds easily to accelerate the growth of their business, without having to pay onerous counterparties. Silvr has developed a platform that allows it to adapt to all digital business models: SaaS, subscription model, e-commerce, mobile apps, etc.
Financing offers are calculated using a model developed by the startup to assess the performance of companies and their growth potential by analysing thousands of complex data (single visitors, turnover, average basket, return on ad spent of paid media campaigns, attrition rates, etc.) as well as industry-specific data. This system allows the fintech company to forecast the company’s future revenues and provide the necessary financing within 24 hours.
Focus on clients financed by Silvr:
On average, companies financed by Silvr saw 64% growth two months after granting their financing
99% of customers financed by Silvr refinance with Silvr
29% of Silvr financing is granted to companies created by women
35% of companies financed are also supported by venture capital investors
“We are proud to announce this new fundraise, which is a great sign of confidence in the Silvr model. This reinforces our vision and ambition: to contribute to the growth of the digital economy in Europe thanks to our unique financing platform. We will be able to significantly accelerate our development thanks to the recruitment of around a hundred employees, set the first milestones in the creation of our own debt fund and develop technological partnerships with banks,” says Nima Karimi.
About Silvr
Silvr is reinventing financing for digital companies. As the European leader in Revenue Based Financing, Silvr has developed an Operating System that allows digital companies (SaaS, e-commerce, etc.) to access a portion of their future revenue in less than 24 hours. Silvr financing is based on Silvr Analytics, a proprietary technology platform that connects to software used by digital companies (CMS, PSP, billing software, advertising, etc.) and their professional bank accounts (via open banking) in order to assess their past performance and predict their future revenue. Based in Paris, Silvr is supported by XAnge, Otium Capital, Bpifrance, ISAI, Eurazeo and has financed more than 100 European companies to date.
International private equity firm, Cinven, today announces that it has agreed to sell Tractel (‘the Company’), a world leading safety specialist providing reliable, innovative and cost-effective working-at-height solutions and services, to Alimak Group AB, for an Enterprise Value of approximately €500m.
Established in 1941 and headquartered in Luxembourg, Tractel provides working-at-height solutions and services used in many end-user applications, including in industrial, construction, energy, telecommunications and infrastructure projects. The Company has global operations, including manufacturing facilities spanning Europe, North America, China, Singapore and Turkey, which are supported by dedicated centres of excellence in R&D, engineering and safety standards. Tractel has a global network of more than 10,000 industrial distributors in 120 countries. This network of expertise, experience and geographical locations allows Tractel to achieve global reach with a local presence.
Cinven has a successful track record of investing in the Industrials Sector, and the sale of Tractel is another milestone in a very active two year period for the firm, despite global challenges, with the firm’s funds successfully realising investments in Chryso and Envirotainer, alongside making new investments in TK Elevator, a leading service provider and manufacturer of elevators and escalators, Arxada (formerly Lonza Specialty Ingredients), a leading provider of specialty chemicals for microbial control, and Bayer Environmental Science, a global leader in specialty pest management (completion pending).
Cinven’s Industrials Sector team, working closely with Cinven’s French team, identified Tractel as an attractive investment opportunity and the business was acquired by the Fifth Cinven Fund in October 2015. Cinven has worked in close partnership with the Company to achieve strong performance during its ownership, including through:
Successfully growing the business through buy-and-build M&A, including completing two sizeable bolt-on acquisitions in the US and the Nordic region;
Strengthening the management team with expertise from across the sector;
Implementing international best practices to deliver commercial excellence, drive organic growth and optimise the operating model;
International expansion, notably through significant growth in the United States and in the Nordics; and
Enhancing Tractel’s product and service offering through significant investment in R&D and innovation.
Commenting on the investment, Pontus Pettersson, Partner at Cinven, said:
“Under Cinven’s ownership, Tractel has completed the acquisition of two significant businesses, successfully developing the brand and expanding the business. This has reinforced the strategic value of Tractel, and helped position the business for a trade exit. The combination of Tractel and Alimak will create a leading global business with significant opportunity for future growth, in a market where there is substantial room for further penetration of its products and services. We wish them the best in this next phase of their growth journey”.
Philippe Gastineau, CEO of Tractel, added:
“Cinven has provided significant support to Tractel over the last few years, most notably with two considerable acquisitions which have allowed us to expand substantially into our core markets. With increased investment in the development and innovation of our products, we now provide best-in-class solutions to our customers and clients and in turn, have become a world-leader in the working-at-height solutions market. We look forward to the next chapter of our growth journey as part of the Alimak Group”.
Completion of the transaction is subject to customary regulatory and antitrust approvals.
