Monthly Archives: November 2019

Roar Techmedia secures investment from Apiary

Apiary Capital

roar-pr.jpg

Roar Techmedia, the trade exhibitions organiser, is pleased to announce it has secured a significant investment from Apiary Capital to fund the acquisition of a portfolio of leading events from Prysm Media Group. The events are focussed on the healthcare, environmental and marketing technology sectors and include leading brands such as RWM, Naidex and Call & Contact Centre Expo.

The market for trade exhibitions in the UK is estimated to be £1.1bn and is in long-term growth. It is one of the fastest developing sectors of the media industry, with the particular verticals that the Roar events operate in enjoying especially strong growth rates. The trade exhibitions market is also highly fragmented with demonstrable consolidation opportunities.

Roar Techmedia was founded by Duncan Kirk, who has built a strong management team with extensive market experience, many of whom have worked together in the events industry for several years. Together, they have a strong track record of having launched, grown and developed a significant number of trade shows. In addition, the Chairman, Russell Taylor, has considerable M&A and operational experience having previously led ITE Group and Earls Court & Olympia.

“The healthcare, environmental and B2B marketing sectors are not only growing rapidly in terms of investment, but are also high on the public agenda,” commented Duncan Kirk, CEO of Roar Techmedia. “More effective management of the aging population, large scale commercial recycling and digital transformation, are all critical to how we live, communicate and work.”

“The potential to revolutionise these events not only in the UK, but also internationally, is significant,” continued Kirk. “Our management team’s experience of engaging global audiences, with programmes of high-quality content will deliver a new experience to attendees and exhibitors alike.”

“Roar Techmedia is taking advantage of a rapidly growing market opportunity and has a uniquely dynamic and powerful approach,” says Dan Adler, Partner at Apiary Capital. “The proven expertise of Roar’s management team, aligned with our track record in this sector, made it a compelling proposition for us. We look forward to working with the team as they implement their exciting plans for the exhibitions and to supporting the growth and global expansion of the business.”

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EQT sells remaining stake in LBX Pharmacy

eqt

  • EQT Greater China sells remaining 24.78 percent in LBX Pharmacy, a leading discount pharmacy superstore chain in China, at RMB 55.0 per share, 235.2 percent above the IPO price of RMB 16.4
  • LBX Pharmacy has experienced strong growth and transformation during EQT’s ownership, leveraging the EQT Network and healthcare sector expertise
  • LBX Pharmacy’s successful IPO on the Shanghai Stock Exchange in 2015 was the first IPO in China with a foreign private equity fund as control or co-control shareholder

The EQT Greater China II fund (“EQT Greater China” or “EQT”) today announced that it has sold its remaining 24.78 percent equity stake in LBX Pharmacy Chain Joint Stock Company SSE:603883 (“LBX” or “the Company”), a leading A-share listed retail pharmacy superstore chain in China, to Primavera and FountainVest (“the Consortium”).

Established in 2001 in the Hunan province, LBX is a leading discount pharmacy superstore chain in China. As of 30 September 2019, LBX operated 3,756 self-owned drugstores and 1,052 sub-franchised drugstores in 22 provinces and municipal cities across China. LBX targets value-conscious customers with low prices, in-store consultation services and membership programs. The Company was listed on the Shanghai Stock Exchange on 23 April 2015 as the first IPO in China with a foreign private equity fund as control or co-control shareholder.

EQT made a co-control investment in LBX in 2008, becoming joint control owners with XIE Zilong, LBX’ Founder and Chairman. Since EQT entered LBX, the corporate governance and management have been strengthened with the addition of key management hires, experienced board members and independent non-executive board members. LBX has leveraged the global EQT Network and deep expertise in the healthcare and retail sectors and visited numerous leading pharmacy groups overseas.

During EQT’s ownership period, more than 40 add-on acquisitions were completed which helped LBX to become the leading chain in new geographies and strengthened LBX’s market position in its existing coverage region.

Martin Mok, Partner at EQT Partners and Investment Advisor to EQT Greater China, commented: “During EQT Greater China’s joint ownership, LBX has captured the fast growth of the retail pharmacy sector in China through successful store openings and upgrades, margin improvement and acquisitions. We are grateful for Mr XIE’s leadership, the insightful contribution of the board members, and the management team’s hard work.”

XIE Zilong, Founder and Chairman of LBX, commented: “EQT provided valuable resources and expertise which contributed to LBX’s strong growth during the last 12 years. With EQT’s strong support and corporate governance model, LBX has built a solid and sustainable foundation for future growth. We are confident that LBX will continue to do well with Primavera and FountainVest as our new partners.”

The transaction was signed and closed on 27 November 2019.

Contact
Martin Mok, Partner at EQT Partners and Investment Advisor to EQT Greater China, +852 2801 6823
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 41 billion in assets under management across 20 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on Twitter and LinkedIn

About LBX Pharmacy
Established in 2001 in Hunan province, LBX is a leading discount pharmacy superstore chain in China. As of 30 September 2019, LBX operated 3,756 self-owned drugstores and 1,052 sub-franchised drugstores in 21 provinces and municipal cities across China. LBX targets value-conscious customers with low prices, in-store consultation services and membership programs.

About Primavera
Primavera Capital Group is a leading China-based global investment firm that employs a flexible strategy of growth capital, control-oriented, and restructuring investments, seeking to create long-term value by working closely with portfolio companies to improve operational efficiency, competitiveness, and earnings growth. Founded in 2010, the firm invests in consumer, financial services, TMT, education, and healthcare sectors and has invested in some of the largest and market leading companies in China and globally across these sectors.

About FountainVest
FountainVest Partners is one of the most established independent private equity firms in Asia.  The Firm focuses on long-term oriented investments in industry leaders, partnering closely with management teams to accelerate growth and create value in diversified areas including in strategy, operations, finance, and capital markets.  FountainVest has completed a number of successful landmark investments globally. Sectors of focus include Consumer, Media & Technology, Healthcare, Industrials, and Financial Services.

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Latour completes acquisition of Caljan

Latour logo

On October 11, Investment AB Latour signed an agreement to acquire Caljan based in Århus, Denmark. All closing conditions have now been fulfilled and the transaction has been completed as of November 29.

Göteborg, November 29, 2019

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Johan Hjertonsson, President and CEO Investment AB Latour +46 702 29 77 93
Anders Mörck, CFO Investment AB Latour +46 706 46 52 11
Gustav Samuelsson, Director M&A, Investment AB Latour, +46 46 735 52 55 59
Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 64 billion. The wholly-owned industrial operations have an annual turnover of about SEK 13 billion.

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CapMan Buyout’s exit from Maintpartner has been completed

CapMan Buyout press release
29 November 2019 at 3.10 p.m. EET

CapMan Buyout’s exit from Maintpartner has been completed

Caverion Plc has today completed the acquisition of Maintpartner’s operations in Finland, Estonia and Poland from funds managed by CapMan Buyout, as announced in March 2019. The arrangement has obtained all required approvals from relevant authorities. Consideration for the acquisition was EUR 34 million and the purchase price was paid in cash.

Maintpartner is an industrial maintenance and service provider operating in sectors such as energy, chemicals, metal, food and manufacturing industries. Caverion designs, builds, operates and maintains intelligent and energy-efficient solutions for buildings, industries and infrastructures in Northern, Central and Eastern Europe.

For additional information, please contact:
Jan Mattlin, Partner, CapMan Buyout, +358 40 508 6406

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With over €3 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 140 people in Helsinki, Stockholm, Copenhagen, London, Moscow and Luxembourg. Please visit www.capman.com for more information.

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Endev receives EUR 4.3 million in financing for scaling up wastewater sludge solution

Tesi

Investments in companies, Impact – 28.11.2019

Endev, a Finnish company extracting energy and nutrients from wastewater sludge, has raised EUR 4.3 million and is scaling up its technology to full industrial production. State-owned Tesi will co-invest in the company along with Sinituote Ltd, Tejusa Ltd, Loipposet Ltd, Henri Juva, Aivi Invest Ltd and a number of private investors. Endev’s solutions are based on a circulating mass dryer and reactor combination patented in 19 countries. Energy is produced from the incineration of wastewater treatment sludge while harmful components are removed from circulation. After many years of successful testing in test plants, the company’s technology is currently undergoing joint trials with Napapiiri Energy and Water Ltd (Neve) in an industrial-scale plant in Rovaniemi, in Finnish Lapland.

Only incineration eliminates the harmful substances in sludge

“Incinerating the sludge prevents recirculation of harmful substances and nutrients. The valuable phosphorus contained in wastewater sludge is extracted from the burn as clean ash that can then be utilised as an ingredient of agricultural fertilisers without the risk of drug residuals re-entering circulation,” explains Endev’s CFO Arttu Laasonen. He is pleased with the progress made in testing the industrial-scale plant commissioned last summer.

Sludge incineration is fairly widespread in Europe and elsewhere in the world. Most of the sludge from wastewater plants in Finland, however, is treated by rotting or composting, and then used in agriculture or landscaping. Decomposed or composted sludge can contain harmful substances such as drug residuals and microplastics, as well as bacteria or viruses that are harmful to health. These are problematic, especially for food production. Endev’s plant can also treat sludge that has been through a biogas process.

“In terms of energy economy, our process is extremely efficient. It works without support fuel and produces excess heat that can be used in, for instance, district heat production. Our method is suited to sludge from individual wastewater treatment plants because small and medium-sized sludge treatment facilities can be built next to the wastewater plant at a reasonable cost,” says Laasonen.

Growing European market for sludge incineration

“Tesi sees a significant opportunity for international growth in Endev’s environmental technology expertise. The impact investment we made under our Circular Economy programme is aimed not only at stopping the circulation of harmful substances in sludge but also in reducing the emissions produced in transporting sludge. The process is eminently suitable for medium-sized cities, of which there are hundreds in Europe. We want to promote widespread industrial adoption of the technology. Doing so will take time and necessitate risk-taking, as will the pilot plant. But that’s essential to making a worthwhile impact,” says Tesi’s Investment Director Mikael Niemi.

Treating sludge is a global problem: the average person in the western world produces some 0.2 tonnes of sludge a year, and sludge treatment costs are rising. Switzerland has already prohibited all sludge treatment other than incineration after a transition period, and Germany plans to do the same. The Netherlands and Belgium, meanwhile, recommend incineration for treating sludge.

Further information:

Endev, Arttu Laasonen, CFO, tel. +358 50 062 6848, arttu.laasonen@endev.fi

Tesi, Mikael Niemi, Investment Director, tel. +358 50 597 7303, mikael.niemi@tesi.fi

Endev Ltd is a Finnish cleantech company founded in 2011 that offers solutions for the thermal treatment of sludge produced by wastewater and industrial processes. Endev has developed its innovative solution for treating municipal wastewater sludge locally, and in an efficient and cost-effective way. The method recovers the energy and nutrients contained in sludge while simultaneously eliminating harmful components such as drug residuals and microplastics from circulation. Deploying this technology drastically reduces the amount of sludge mass transported away from the site, while the clean ash that remains can be used as agricultural fertilizer. The solution has been chosen by the Finnish Ministry of the Environment as a key project in nutrient recycling. www.endev.fi

Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of renewing economic growth by investing in funds and directly in companies. We invest profitably and responsibly, together with co-investors, to create the world’s new success stories. Our investments under management total 1.2 billion euros. Ambition for ownership and success www.tesi.fi | www.dtg.tesi.fi | @TesiFII

Tesi’s Circular Economy programme will provide financing of altogether MEUR 75 to companies in the circular economy sector. In addition to direct investments, the target is to create venture capital funds investing in Finland’s circular economy.

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DIF Capital Partners and Cinia to build out fiber optic networks in Finland

DIF

DIF Capital Partners (“DIF”), through its DIF Core Infrastructure Fund I (“DIF CIF”) is pleased to announce that it has entered into a joint venture with Cinia Oy (”Cinia”) to build fiber-to-the-home (“FttH”) networks in Finland.

The joint venture (“Adola”) plans to provide over 100,000 FttH connections to public, private and commercial customers with a focus on Finland’s underserved areas and operates under the consumer brand Täyskuitu (please refer to www.tayskuitu.fi for more information). FttH networks are a key element to enable digital development in business and society, and keep up pace with global digitalization developments. The joint venture with Cinia underlines DIF CIF’s key strategic focus to invest in digital infrastructure. The first project is expected to become operational in the first half of 2020.

DIF’s share in Adola amounts to 80.1%. The remaining 19.9% is held by Cinia, a public Finnish telecom infrastructure provider that owns and operates roughly 15,000 km of fiber optic backbone network in Northern Europe, including a high capacity submarine fiber cable to Germany.

“We are pleased to have established a long term co-operation with Cinia for the roll out of fiber in Finland. This is an excellent opportunity for DIF CIF to invest in high quality projects with a strong local partner and to further expand into the fast growing telecom infrastructure sector” comments Willem Jansonius, Head of DIF CIF.

About DIF Capital Partners

DIF is an independent infrastructure fund manager, with €6.0 billion of assets under management across eight closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, utilities and renewable energy projects with long-term contracted or regulated income streams.
  • DIF CIF funds target equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams.

DIF has a team of over 135 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact:
Allard Ruijs, Partner
Email: a.ruijs@dif.eu

About Cinia

Cinia provides secure high-availability data network and software solutions. Our operations are based on our solid expertise in modern software development, data network technologies and critical operating environments. Our fiber optic network of roughly 15,000 kilometers, including the C-Lion1 submarine cable, enables the fastest data communications solutions to Central Europe and to markets in Asia and Eastern Europe. By combining our services with services of our partners, we can provide reliable and comprehensive solutions that help our customers write their own digital success stories. More information about Cinia: www.cinia.fi/en

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CVC Credit Partners supports the acquisition of Amadys by Equistone

Funding will be used to finance Equistone’s acquisition of Amadys and support the businesses consolidation and internationalisation strategy

CVC Credit Partners is pleased to announce that it is the sole underwriter for the first lien funding in Equistone’s acquisition of Amadys NV (“Amadys”). Equistone will acquire the company from the management and the investment fund Vectis Private Equity. The existing management team, led by CEO Hein Wilderjans, will continue to run the company following the acquisition, which is expected to complete in early 2020.

Amadys is a leading provider of passive network equipment solutions to utility networks, including fixed and mobile telecom networks and water, gas and electricity grids, in Belgium and surrounding countries. The company provides a one-stop-shop solution for a broad range of products and services, ranging from fibre optic cabling and related products, to ducts, closures and covers, often in customised and unique specifications and combinations. Amadys employs more than 100 people across offices in Belgium and the Netherlands.

Hubert van Wolfswinkel, Director at Equistone, said: “Amadys is well-positioned for further growth and to strengthen its presence in Belgium as well as in neighbouring countries. In CVC we are pleased to have gained the support of a lender with knowledge and experience of the sector and the flexibility to fully support the future growth plans of the business.”

Chris Fowler, Managing Director in CVC Credit Partners’ European Private Debt business, added: “Amadys is an attractive business with a bright future. It is a leading player in its market supported by sustainable tailwinds, and enjoys longstanding customer and supplier relationships. We are pleased to be supporting the businesses continued organic growth and plans for consolidation and internationalisation.”

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Cinven to invest in Barentz

Cinven

Cinven, the international private equity firm, today announces that it has reached an agreement to become a shareholder of Barentz (the ’Group’), a global specialty ingredients distributor for the food, pharmaceutical, personal care and animal nutrition markets. Financial terms of the transaction are not disclosed.

Headquartered in the Netherlands, Barentz distributes ingredients and additives for products to small and medium-sized enterprises (‘SMEs’) and large customers globally. The Group sources branded specialty ingredients from leading manufacturers worldwide, and its ingredient experts provide value-added technical support (including pre-mixing, blending, ingredient formulation and ingredient testing) from its state-of-the-art production facilities in Europe, North America and Asia.

Established in 1953, Barentz has operations in more than 60 countries with a strong presence in Europe and Asia, and a growing presence in North America and Latin America. Today, the Group employs circa 1,100 people worldwide, sources ingredients from more than 1,000 suppliers and serves more than 15,000 customers.

Cinven’s Business Services and Benelux teams identified Barentz as an attractive investment opportunity, given its:

  • Strong presence in attractive, structurally growing and resilient markets;
  • Value-added proposition to both a large number of ingredient manufacturers and a highly diversified end-customer base;
  • Significant buy and build opportunity in a highly fragmented market. Barentz has a proven track record of executing and integrating acquisitions;
  • Strong historic financial performance and cash generation;
  • Opportunity to accelerate the growth of the business through investment in the Group’s infrastructure as well as R&D capabilities; and
  • Highly experienced management team, led by CEO Hidde van der Wal.

Ben Osnabrug, Partner at Cinven, commented:

“Barentz has a strong presence in a structurally growing market. The Cinven team knows the specialty distribution sector well; a number of key trends are driving the growth of the food and life sciences ingredients market, including a shift towards natural ingredients, increased demand for customised formulations, and a growing share of manufacturers using distributors to drive market access and to improve efficiencies.

“Cinven’s investment in Barentz resulted from a combination of our detailed sub-sector approach within Business Services and our regional network in the Netherlands, and we are delighted to invest in this primary opportunity. In particular, Barentz has an excellent management team whom we are backing to pursue both organic and acquisition-led growth.”

Hidde van der Wal, Chief Executive of Barentz, said:

“We are delighted to be working with Cinven on the next phase of our growth. The Cinven team has really impressed us with their understanding of our market and their strong track record of growing businesses internationally. 

“In particular, their investment and support for our business strategy will enable us to expand our operations into new geographic markets, including through acquisition, and will ensure we have the right infrastructure to achieve this.”

Completion of the transaction is subject to customary conditions including competition clearances.

1602 Capital Partners acted as M&A advisor for Cinven.

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IK Investment Partners to support Mabtech

ik-investment-partners

IK Investment Partners (“IK”) is pleased to announce that the IK Small Cap II Fund has reached an agreement to acquire Mabtech, a leading specialist in immune monitoring. The founders and management team will continue to be invested. Merieux Equity Partners (“MxEP”) will acquire a minority stake alongside the Fund. Financial terms of the transaction are not disclosed.

Founded in Sweden in 1986, Mabtech has gained worldwide recognition for its high quality monoclonal antibodies and technical innovation capabilities and is viewed as a pioneer within the growing detection platform techniques of ELISpot and FluoroSpot. To complement its offering, the Company successfully entered the instruments market by launching its first reader, IRIS, in December 2018. Mabtech’s products are used by researchers and companies worldwide to study immune responses in e.g. cancer, allergy, infectious diseases as well as to monitor vaccine trials.

“Mabtech has become a well-reputable brand worldwide due to their high quality, innovation and excellent customer service, supporting their customers to obtain optimised test results with limited variability. The deal team has followed the company for several years and we understood this was a unique opportunity to acquire a global leader in a niche market and we are delighted to be the founders’ preferred partner for Niklas and his experienced team,” said Erik Ingemarsson, Partner at IK Investment Partners and advisor to the IK Small Cap II Fund.

“We describe Mabtech as a company ‘founded by researchers for researchers’. Our success is built on long-term relationships with our clients and employees, and as we started planning for our next phase of growth, it was clear that we needed a partner who shares our values and vision. We could not be more happy about this exciting new partnership,” said Niklas Ahlborg, CEO of Mabtech.

Benoit Chastaing, Senior Partner at Merieux Equity Partners added: “We are pleased to partner with IK Investment Partners, founders and Mabtech management team, to invest in a reference player in the immunoassays market. This attractive and growing segment has been a core focus for MxEP and we aim at bringing our expertise and industrial network to accompany Mabtech in its development together with IK.”

The investment in Mabtech builds on IK’s strong track record in healthcare, following its successful sale of Ellab, a leading global supplier of thermal validation solutions, to EQT in September 2019, and its acquisition of LAP Laser, a leading German provider of laser positioning systems, in July 2019.

The transaction represents the 8th investment made by the IK Small Cap II Fund, and the team included Erik Ingemarsson, Kristian Carlsson Kemppinen, Henrik Geijer, Viktor Josefsson and Patrik Stockhaus.

Completion of the transaction is expected during December.

For further questions, please contact:

Mabtech
Niklas Ahlborg, CEO
niklas@mabtech.com

IK Investment Partners
Erik Ingemarsson, Partner
Phone: +46 8 678 95 00

Mikaela Murekian, Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.murekian@ikinvest.com

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €10 billion of capital and invested in over 125 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

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Cybersecurity firm buguroo raises $11M to build on its success in Europe and Latin America

Teneleven

  • The new funding will be used to accelerate development of buguroo’s Deep Learning based online fraud detection and prevention products for new markets worldwide
  • Three new investors will join the buguroo board: Alex Doll and Paul Ayers from Ten Eleven Ventures and Beatriz Gonzalez from Seaya Ventures

26 November 2019 – Madrid-based cybersecurity firm buguroo has secured $11 million in Series A funding to bring its Deep Learning based online fraud detection and prevention technology, combining behavioral biometrics, malware detection and device assessment, to more financial services customers.

Cybersecurity-focused venture capital firm Ten Eleven Ventures (headquartered in Silicon Valley, California) and Spain- and Latin America- focused venture capital firm Seaya Ventures (headquartered in Madrid, Spain) led the Series A round. Existing investors Inveready Technology Investment Group and Conexo Ventures also participated.

buguroo-serie-a-investment-01

Currently, buguroo technology protects over 50 million financial services customers in Europe and Latin America from login to logout. With the new Series A investment, the company will expand its sales and marketing efforts in these regions as well as in new geographies, with particular focus on the US, UK, France and Germany.

The funding will also be used to accelerate new product developments, including buguroo’s “Fraudster Hunter.” This pioneering functionality, which was recently incorporated into buguroo’s anti-fraud solution, identifies and tracks the behavioral patterns of fraudsters and their collaborators, using Deep Learning to discover victims who are unaware they have been affected by fraud, reveal fraud scenarios and recognize fraudsters’ modus operandi. This unique capability ensures that financial services companies can stay one step ahead of fraudulent digital activity.

From login to logout, buguroo’s technology protects financial services customers from all known fraud use cases, including the increasing problem of synthetic fraud, when hackers set up new accounts using fake identities in the onboarding phase.  By collecting thousands of parameters relating to the customer’s behavioral biometrics and environment, including smartphone and mouse movements, keystrokes, device profiling, and geolocation and malware records, buguroo is able to create a unique “cyber profile” for each user – a digital DNA – that stops fraudsters from impersonating financial services customers online and manipulating accounts.

With online banking fraud proliferating, identifying and stopping fraudulent activity without impacting the user experience is crucial for financial institutions worldwide.

priva-serie-a “With focused, regional investment in sales and marketing, we have proven the power of our solution. We are thrilled to have the support of our new investors, who are enabling us to continue to bring this best-in-class solution to banks around the globe and accelerate our mission of continuous innovation in online fraud detection”

Pablo de la Riva, Founder and CEO of buguroo.
“Ten Eleven Ventures is pleased to back another exciting new team using artificial intelligence to transform cybersecurity. Pablo and the buguroo team are talented innovators who have found a unique way to use AI to reduce online fraud. We are so impressed with the customer traction they have in Europe and Latin America. We look forward to helping them build a global cybersecurity company.”

Alex Doll, Ten Eleven Ventures Managing Partner.

 Alex-Doll-Portrait
aris_xenofontos-serieA “We are very excited to have the opportunity to join Pablo and the team in their journey to help any kind of organization prevent digital fraud and become the world’s largest database of fraudster digital identities. We are looking forward to supporting them using our experience with high-growth international businesses.”

Aris Xenofontos from Seaya Ventures.
“We are so impressed with buguroo’s achievements so far. This great performance allowed us to choose among top VCs, and we decided to go with Ten Eleven Ventures, best in cybersecurity. We look forward to keep helping Pablo and buguroo’s team to build a global cybersecurity company.”

Ignacio Fonts, Inveready Managing Partner.

 ignacio_fonts-seriesA
joaquim_hierro_lopes-serieA “We are very proud of buguroo’s performance, testimony to the skills, passion and relentless dedication by CEO Pablo de la Riva and his team. We are as well delighted to have Ten Eleven Ventures and Seaya joining in this journey; they are the perfect companions to further expand buguroo’s international success.”

Joaquim Hierro Lopes, Conexo’s Managing Partner.

 

logo_buguroo_SA
About buguroo

buguroo was founded in Madrid in 2015 to develop cybersecurity and disruptive anti-fraud solutions, always keeping abreast of the latest market trends. Today, buguroo is the mastermind behind the most comprehensive solution for online fraud prevention known as bugFraud. Thanks to this product, banks across the globe protect their customers in real-time from all the online fraud use cases.
https://www.buguroo.com/

 

TenEleven-logo
About Ten Eleven Ventures

Ten Eleven Ventures is the original venture capital firm focused solely on investing in digital security. The firm invests globally and at all stages, from seed to growth (the latter via its Joint Investment Alliance with KKR). Since its founding in 2015, Ten Eleven Ventures has raised nearly $500M and invested in nineteen leading cybersecurity companies including Twistlock, Verodin, Cylance, KnowBe4, Darktrace, and Ping Identity.
https://www.1011vc.com

 

seaya_ventures_logo
About Seaya Ventures

Based in Madrid, Seaya Ventures has been backing the best entrepreneurs and teams from Spain and Latin America since 2013. Seaya focuses on supporting founders in scaling their businesses enabling them to become global leaders. . https://seayaventures.com/

 

imagotipo-azul
Acerca de Inveready

Inveready is a leading asset manager in Spain investing in early-stage technology-based companies. Inveready invest through 4 verticals Venture Capital in Digital Technology, Venture Capital in Life Sciences, Venture Debt and Hybrid Financing for quoted companies in growth markets) with +€330M of assets under management. With 21 successful exits on their back, some of their portfolio companies are quoted in the IBEX 35, NASDAQ and MAB while others got acquired by companies such as Intel, Symantec and Red Hat. It is part of their DNA to empower disruptive innovators, helping them grow and succeed over the past 11 years. As a consequence of this growth and track record they are proud recipients of several awards such as Best Venture Capital Manager in Spain, Best VC Transaction and Best Venture Debt Transaction.
https://inveready.com/

 

conexo
Acerca de Conexo

is a fund with presence in Madrid, Lisbon, Boston and Silicon Valley that invests in Spanish and Portuguese startups in order to accelerate their growth through internationalization towards LATAM and, particularly, US. We excel at hands-on value creation bringing insight, talent, direct sales and co-investors to our portfolio companies. Conexo is the ventures arm of GED Capital, a leading investment firm with over $900M AUM.
https://conexo.vc/

 

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