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Apax closes Global Impact Fund at c.$900m

Apax

Apax, a leading global private equity advisory firm, announced today the final closing of the Apax Global Impact Fund (“AGI”), a c.$900m fund committed to investing in mission-driven companies with core products and services that tackle environmental or social issues.

Apax has a strong heritage in impact and sustainability. The firm, co-founded by impact pioneer Sir Ronald Cohen over fifty years ago, was an early leader in implementing ESG data measurement in private markets, and has been committed to driving excellence in sustainability since inception. The Impact team, co-led by Managing Partners Alykhan Nathoo and David Su, builds on this track record, creating a unique and differentiated strategy that is optimised for both financial and impact returns.

Central to AGI’s investment strategy is its robust and proprietary impact measurement system, which evaluates and monitors impact across AGI’s portfolio. Formulated by internal and external experts, AGI’s rigorous measurement approach helps identify and track outcomes across truly impactful businesses within four key sector themes: health and wellness, environment and resources, social and economic mobility, and digital impact enablers. AGI has already utilised this approach to identify and invest in four businesses: GAN Integrity, a supply chain risk-management software platform; Swing Education, an online marketplace that connects schools and substitute teachers; Bonterra, a social good software company, and Eating Recovery Center (ERC), a leading provider of eating disorder and mood and anxiety treatment in the U.S.

Alykhan Nathoo and David Su, co-heads of the Apax Global Impact strategy, commented: “We are grateful for the confidence of AGI’s investors, all of whom share our commitment to supporting the visionary founders and management teams tackling society’s most pressing environmental and social challenges. We look forward to partnering with these sustainability leaders, leveraging the deep sub-sector expertise of the Apax sector teams, the strength and scale of the Apax platform globally, and the value creation potential of the Operational Excellence Practice to help the businesses of tomorrow, grow today.”

Jason Wright, Chair of Apax’s Global Impact strategy and a member of AGI’s investment committee, said: “We want to thank AGI’s limited partners for their support. We’re incredibly excited by the possibilities within the burgeoning impact space, and this successful fundraise is testament to our distinctive and differentiated proposition. The Apax Global Impact team have an impressive combination of private equity experience and impact expertise, making them ideally positioned to help visionary businesses accelerate growth and unlock value.”

Sir Ronald Cohen, Chair of the Apax Global Impact Advisory Board, said: “Apax, because of its history, its DNA, its values, and the authenticity of its intentions, is extremely well-positioned in the field of Impact. The world has historically operated on two parameters: risk and return. We now find ourselves shifting to three dimensions: risk, return and measurable impact. It is incredibly important that as businesses generate profits, they also deliver improvement in the lives of people and the state of the planet. The Apax Global Impact fund is committed to this mission.”

The dedicated Impact team consists of fourteen people and is supported by an Impact Advisory Board, comprising of five leading industry experts. This Advisory Board provides guidance on matters including impact measurement and the driving of additional impact across partner companies. In line with its commitment to generating measurable impact, a percentage of carried interest is linked to successful impact performance and AGI is classified as an Article 9 fund under the Sustainable Finance Disclosure Regulation (SFDR).

Rede Partners advised on the fundraising for the Apax Global Impact Fund. AGI received commitments from both existing and new investors globally, including private and public pension funds, sovereign wealth funds, fund of funds, insurance companies, endowments and charitable foundations.

 

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About Apax & Apax Global Impact

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $65 billion. The Apax Funds invest in companies across four global sectors of Internet/Consumer, Tech, Services, and Healthcare. These funds provide long-term equity financing to build and strengthen world-class companies.

Apax Global Impact seeks out opportunities to support companies which deliver tangible societal and/or environmental impact. The strategy revolves around themes including Health & Wellness, Environment & Resources, Social & Economic Mobility, and Digital Impact Enablers. Apax Global Impact leverages the deep expertise of the Apax sector teams, the strength and global scale of the Apax platform globally, and the value creation potential of Apax’s Operational Excellence Practice.

For more information see: www.apax.com.

Apax is authorised and regulated by the Financial Conduct Authority in the UK.

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Fortino Capital closes 2nd Private Equity fund at €377M

Fortino Capital

Antwerp/Amsterdam/Munich, December 8th, 2023 – Fortino Capital, a European B2B software venture capital and growth equity firm, announces the final closing of its 4th investment fund. Fortino Capital PE II is a €377 million fund dedicated to ambitious B2B software founders across Europe.

To date Fortino has raised across 4 funds, a total of over 800M Euros. It closed its first VC fund in 2016 at 80M, followed by PE I at 242M in 2017 and VC II at 105M in 2021. Fortino Capital has invested in 53 businesses in the past 10 years and has realized 22 exits.

Fortino Capital’s new PE II fund has made 4 investments in software companies including Van Roey (BE), Speak Up (NL), Symbio (DE) and Addactis (FR/BE) and has already realized one early exit. Symbio has recently been acquired by the German software company Celonis. This fund is looking to establish long term partnerships with passionate entrepreneurs who have the ambition to accelerate the scaling of their businesses. In this fund Fortino will typically deploy minimum €10M initial equity tickets in established companies and scale-ups with the following characteristics: B2B SaaS and PaaS applications with a minimum turnover of 5M, being profitable in the core, and headquartered in Europe.

The Software As A Service market is very dynamic, offering lots of opportunity. Multiple forces of change and innovation are at play. As specialists in the domain, Fortino is well equipped to underwrite valuations with insight and bring the operating support to accelerate growth.

Fortino Capital aims to make a positive contribution by leveraging its international network, C-level and entrepreneurial experience and by sharing best practices amongst its portfolio of B2B SaaS companies. It also grants access to its own talent acquisition resources that help its portfolio attract the right talent.

Duco Sickinghe, Executive Chairman of Fortino Capital: “We are pleased to announce at the occasion of our 10th anniversary, that we have successfully closed our second PE fund. We are grateful for the trust and support of so many loyal investors that have extended their commitment to Fortino and we are warmly welcoming our new Belgian, Dutch and German investors.”

Duco Sickinghe, Fortino Capital

Renaat Berckmoes, CEO of Fortino Capital: “This fund will allow us to accompany more founders and management teams on their quest for growth and building better companies. We are targeting investing in at least 15 B2B software platforms across Europe. We have a well filled pipeline and expect to be able announcing some further investments early next year.”

Fortino partner, Renaat Berckmoes

About Fortino Capital

Fortino Capital is a European investment company with a focus on high-growth B2B software solutions managing two private equity growth funds and two venture capital funds. With offices in Belgium, the Netherlands and Germany, Fortino backs exceptional and ambitious entrepreneurs in Europe. Fortino Capital’s private equity growth portfolio includes VanRoey (BE), BizzMine (BE) MobileXpense (BE), Efficy CRM (BE), Tenzinger (NE), SpeakUp (NE), Cenosco (NE), Maxxton (NE), Stardekk (BE) and Bonitasoft (FR). Fortino’s Venture Capital portfolio includes Vaultspeed (BE), Vertuoza (BE), TechWolf (BE), Zaion (FR), Salonkee (LUX), Sides (DE), GetVisibility (IE), Billy Grace (NE), BuyBay (NE), D2X (NE), Peers (DE) and Kosli (NO) among others.

Fortino Capital Partners
T. +32 2 669 10 50
contact@fortinocapital.com

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WEMAS partners with Sekisui Jushi Corporation (“SJC”) to pursue further expansion after growth journey alongside Gimv and Paragon Partners

GIMV

Gimv, Paragon Partners (“Paragon”) and its minority investors are to sell 100% in WEMAS to Sekisui Jushi Corporation.

WEMAS (www.wemas.de) was established in 1971 and has grown into a full-range supplier of certified passive traffic safety products. The company is based in Gütersloh and employs more than 130 employees at two sites in Germany.

Under Gimv’s and Paragon’s ownership, WEMAS has strengthened its market leading position in traffic safety technology by making significant investments in product innovation, production automation and capacity expansion. As a result, the company has been able to launch new products and broaden its customer base, allowing it to accelerate growth both in Germany and abroad.

Maja Markovic and Ruben Monballieu, both Partner Sustainable Cities at Gimv, say: “WEMAS is a European market leader with an innovative product range and state-of-the-art production in Germany. We are proud of the company’s international growth during our holding period.”

Dr. Edin Hadzic, Founding Partner at Paragon Partners, adds: “We would like to thank the management team at WEMAS for their commitment and drive in executing this successful growth story.”

Dirk Gößling, CEO at WEMAS, concludes: “The management team is looking forward to continuing to offer innovative and market-leading solutions to our customers. In doing so, we will benefit from the complementary expertise and geographic presence of our new owner SJC.”

Paragon and Gimv were supported throughout the transaction by Alvarez & Marsal (financial), Reed Smith (legal), KPMG (tax) and William Blair (M&A).

The transaction has no significant impact on the Net Asset Value of Gimv as of 30 September 2023. Over the entire holding period Gimv realizes a return in line with the long-term portfolio return target. No further financial details will be disclosed.

 

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Digital Realty and Blackstone Announce $7 Billion Hyperscale Data Center Development Joint Venture

Blackstone

JV will deliver approximately 500 megawatts of IT capacity across three Tier 1 metros in Europe and North America

Austin, TX and New York – December 7, 2023 – Digital Realty (NYSE: DLR), the largest global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, and Blackstone Inc. (NYSE: BX) announced today that Blackstone-affiliated funds led by Infrastructure, Real Estate and Tactical Opportunities have agreed to establish a joint venture with Digital Realty to develop four hyperscale data center campuses across three metro areas on two continents. The developments are expected to support approximately 500 megawatts (MW) of total IT load upon full build out of all campuses. Blackstone will acquire an 80% ownership interest in the joint venture for approximately $700 million of initial capital contributions, while Digital Realty will maintain a 20% interest. Subsequent to closing, the joint venture parties will fund their pro rata share of the remaining development costs. Digital Realty will manage the development and day-to-day operations of the joint venture, for which it will receive customary fees.

The four hyperscale data center campuses are located in Frankfurt, Paris and Northern Virginia and have a total estimated development cost of approximately $7 billion over the course of the next several years. The campuses are planned to support the construction of 10 data centers with approximately 500 MW of potential IT load capacity. Of this capacity, 46 MW is under construction and is 33% pre-leased. The remaining land capacity is in varying phases of pre-construction and is expected to be developed to meet customer demand. Approximately 20% of the total potential IT load capacity is expected to be delivered through 2025, with the balance expected to be delivered in 2026 and beyond.

“By partnering with Blackstone, the world’s largest alternative asset manager, Digital Realty is better able to deliver capacity to meet the burgeoning demand of our hyperscale customers, by accessing a deep pool of likeminded private capital,” said Andy Power, President and Chief Executive Officer of Digital Realty. “Digital Realty is focused on executing on the sizable opportunity that lies ahead and this partnership helps to accelerate the monetization of nearly 20% of our industry-leading land bank.”

Greg Wright, Chief Investment Officer of Digital Realty, added, “Partnering with Blackstone marks the culmination of a record year of capital recycling and aptly reflects the shift in our funding strategy, to diversify our sources of capital and bolster our balance sheet in order to capitalize on the significant opportunity that lies ahead.”

Jon Gray, President & COO of Blackstone, said, “Data centers are experiencing once-in-a-generation demand growth, driven by cloud adoption and the AI revolution. Digital infrastructure is one of our highest conviction investment themes as a firm, and this transaction with a trusted data center operator in Digital Realty is another example of how we are investing behind this trend.”

Greg Blank, Senior Managing Director at Blackstone Infrastructure, and Mike Forman, Managing Director at Blackstone Real Estate, added, “Blackstone’s deep pools of capital and extensive sector experience position us to capitalize on the explosive growth in data. We look forward to partnering with Digital Realty to develop high-quality data centers in top markets around the world.”

The joint venture is scheduled to close in two stages over the course of the first half of 2024, subject to certain regulatory and other approvals, as well as other customary closing conditions.

Advisors
Latham & Watkins is serving as Digital Realty’s legal counsel. Simpson Thacher & Bartlett LLP is acting as Blackstone’s legal counsel.

About Digital Realty
Digital Realty brings companies and data together by delivering the full spectrum of data center, colocation and interconnection solutions.  PlatformDIGITAL®, the company’s global data center platform, provides customers with a secure data meeting place and a proven Pervasive Datacenter Architecture (PDx®) solution methodology for powering innovation and efficiently managing Data Gravity challenges. Digital Realty gives its customers access to the connected communities that matter to them with a global data center footprint of 300+ facilities in 50+ metros across 25+ countries on six continents. To learn more about Digital Realty, please visit digitalrealty.com or follow us on LinkedIn and X.

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors. We do this by relying on extraordinary people and flexible capital to help strengthen the companies we invest in. Our over $1 trillion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

For Additional Information

Investor Relations
Jordan Sadler / Jim Huseby
Digital Realty
+1 737 281 0101
InvestorRelations@digitalrealty.com

Media Contacts
Helen Bleasdale
Digital Realty
+1 737 267 6822
hcbleasdale@digitalrealty.com

Blackstone
Paula Chirhart
+1 646 583 6684
paula.chirhart@blackstone.com 

Jeffrey Kauth
+1 212 583 5395
jeffrey.kauth@blackstone.com

Safe Harbor Statement
This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements involve significant known and unknown risks and uncertainties that may cause the Digital Realty’s actual results in future periods to differ materially from those projected or contemplated in the forward-looking statements as a result of, but not limited to, the following factors:  timing of the closing of the joint ventures; the development timing and cost of the campuses; potential IT load capacity; the satisfaction of customary closing conditions; and other risk factors relating to the industries in which Digital Realty operates, as detailed from time to time in each of Digital Realty’s reports filed with the Securities and Exchange Commission. There can be no assurance that the proposed transactions will be consummated on the terms described herein or at all.  For a list and description of such risks and uncertainties, see the reports and other filings by Digital Realty with the U.S. Securities and Exchange Commission. Digital Realty disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Polaris Invests in AwardIt

Polaris

Polaris has through PPE V acquired a 24.1% stake in Awardit AB, which is listed on First North Stockholm. Awardit helps businesses increase revenue and profitability by implementing and operating loyalty programs, incentive programs and gift card programs targeting B2B and B2C customers. The company was established in 1999 and has successfully expanded its operations to today’s presence in more than 6 countries with around 300 employees.

Please see the following press release:

English

For more information, please contact:

Roger Hagborg, Partner
Phone: +46 70 6678515
Mail: rha@polarisequity.dk

Jan Johan Kühl, Managing Partner
Phone: +45 35 263574
Mail: jjk@polarisequity.dk

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KKR Expands DACH Presence With New Office In Zurich

KKR

Zurich, 7 December 2023 – KKR, a leading global investment firm, today announced the opening of a new office in Zurich, Switzerland, solidifying its presence in one of the world’s most important institutional and wealth management centers. The KKR office opens with individuals representing KKR’s Global Client Solutions team and will also serve as a Swiss base for investment professionals covering the DACH region.

Christian Ollig, Partner and Head of the DACH Region at KKR, said: “The new office is an important addition to KKR’s network in DACH, and underscores our commitment to the Swiss market. KKR’s global proposition is built on a strong local presence across key markets connected to the firm’s global network and resources. While Switzerland has been an active market for KKR for many years, formalizing our presence will enable us to expand our relationship with companies and clients as we support their value creation ambitions.”

The team based in Zurich will be principally focused on supporting KKR’s client relationships and building the firm’s global wealth business. The core team based in Zurich includes Hagen Raab, a Director who has been supporting KKR’s institutional clients since he joined KKR since 2018, and Tomislav Culic who joined KKR in November 2023 as a Director to lead KKR’s Global Wealth Solutions in Switzerland.

KKR continues to expand its global wealth solutions, providing ways for eligible individuals to access the firm’s investment platform across Private Equity, Infrastructure, Credit and Real Estate through their financial advisors, private bankers or wealth platforms. Investment vehicles are tailored for individuals but largely invest in the same companies and assets as KKR’s institutional funds.

Hagen Raab and Tomislav Culic, Directors in KKR’s Global Client Solutions team, commented: “Switzerland is an important location for managers of institutional and private wealth, whose demand for alternative investment solutions is set to continue growing rapidly. Our strengthened local presence reflects this outlook and will help us meet this demand and better support our clients. Switzerland is also the largest cross-border wealth management centre globally, representing a tremendous opportunity for KKR and our strategic partners at the Swiss banks to offer world-class private market solutions to private clients globally.”

KKR has been managing long-term capital on behalf of a significant number of institutional investors in Switzerland since 1999, including insurance companies, pension funds, asset managers, and family offices. The new office and local team will enable the firm to continue building on its strategic partnerships with institutional clients, while also developing KKR’s private wealth offer. Switzerland is the largest European market for private wealth, with many of the world’s largest private banks headquartered there.

KKR has been investing in Switzerland since 2007, with the team deploying approximately EUR 2 billion of equity to date, out of the EUR 15 billion of equity that has been invested across the DACH region since 1999. Investments in Switzerland include pharmaceutical and logistics company Galenica, online classified ads business Scout24 Switzerland, and life sciences platform Biosynth Carbosynth.

Zurich is KKR’s eleventh office in the EMEA region, alongside offices in Copenhagen, Dubai, Dublin, Frankfurt, London, Luxembourg, Madrid, Paris, Riyadh and Stockholm.

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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. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

Media Contacts

Jeffrey Vögeli
FGS Global
Phone: +47 (0)79 511 1761
Email: jeffrey.voegeli@fgsglobal.com

Thea Bichmann
FGS Global
Phone: +49 172 13 99 761
Email: thea.bichmann@fgsglobal.com

 

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Ajax Health Establishes Cortex, A Comprehensive AFib Ablation Technology Company, With $90 Million Investment Led By KKR And Hellman & Friedman

KKR

Cortex‘s fully integrated solution will include advanced diagnostic and therapeutic pulsed field ablation catheters supported by innovative mapping technology.

MENLO PARK, Calif., Dec. 7, 2023 /PRNewswire/ — Ajax Health announced today the formation and funding of Cortex, a medical technology company developing an integrated mapping and ablation solution suite for the treatment of atrial fibrillation (AFib), the most common heart rhythm disorder, affecting more than 30 million patients worldwide. Cortex has raised $90 million in funding commitments led by KKR and Hellman & Friedman (H&F) with participation by other investors including AI Life Sciences, an affiliate of Access Industries.

Cortex brings together expert teams with complementary innovations in electrophysiology to accelerate the continued development and clinical validation of next-generation ablation solutions and differentiated AFib mapping technology. The fully integrated solution suite is designed to enable more precise therapy planning and delivery and optimize clinical outcomes and safety for AFib patients, while simplifying workflows and improving procedural efficiency.

“Cortex’s vision is to enable more intelligent AFib treatment,” said Duke Rohlen, CEO of Ajax Health and CEO of Cortex. “We are developing solutions that prioritize precision, simplicity, and efficiency to simultaneously improve patient outcomes and lower procedural cost.”

Cortex is focused on developing diagnostic and pulsed field ablation catheters with a comprehensive mapping and navigation solution powered by Ablacon‘s innovative Electrographic Flow® (EGF) mapping technology. EGF mapping allows physicians to detect AFib sources and is designed to support personalized ablation therapy to potentially improve outcomes. The recently completed randomized, controlled FLOW-AF trial (NCT04473963) showed that EGF-guided treatment of AFib sources in persistent AFib patients improved freedom from AFib at one year post-ablation by 51% on an absolute basis compared with patients randomized to control, who received conventional pulmonary vein isolation therapy only. Ablacon’s latest Ablamap® X mapping system is 510(k) cleared. Following on the favorable results of FLOW-AF, the company has launched the RESOLVE-AF trial (NCT05883631), a large, international, multi-center clinical trial to further evaluate benefits in AFib patients and support CE mark application.

“Duke Rohlen and the Ajax team have cultivated an exceptional ecosystem of engineers and clinical experts with a clear plan to bring impactful new technology to clinical settings,” said Ali Satvat, Partner, Co-Head of Americas Health Care and Global Head of Health Care Strategic Growth at KKR. “We are pleased to continue our long-standing strategic partnership with Duke and join with a strong investor group to support Cortex as it pursues improved outcomes for cardiac arrhythmia patients.”

KKR and H&F are investing in Cortex through the Cordis Accelerator, Cordis-X, which was established in 2021 as part of their investment in Cordis, a leading provider of cardiovascular and endovascular medical devices. KKR is investing additional capital in Cortex through its Health Care Strategic Growth Fund II.

About Cortex
Cortex (CortexEP.com) is developing an advanced, seamlessly integrated, comprehensive platform for evaluating and treating AFib. The company has assembled a proven team of highly skilled and experienced engineers and clinical experts focused on bringing this innovative suite of technologies to market.

About Ajax Health
Ajax Health is a turnkey growth solution for commercial-stage medtech companies. The Ajax team draws on decades of experience as entrepreneurs, operators, and investors to create value for its strategic partners by developing product portfolios through novel business models and creative deal structures. Ajax Health is headquartered in Menlo Park, CA with offices in New York City, Los Angeles, and Austin.

SOURCE Cortex

 

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Bencis sells majority stake in Kooi to IK Partners

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Bencis

Amsterdam – Monday, 04 December 2023

Bencis is pleased to announce that it has signed an agreement to sell a majority stake in Kooi European Mobile Security Solutions B.V. (“Kooi” or “the Company”) to IK Partners (“IK”). Kooi is a fast-growing pan-European provider of temporary camera surveillance (“TVS”) and rising early-detection (“RED”) solutions. IK is acquiring a majority stake from Bencis Buyout FUnd V (“Bencis”), founder Pieter Kooi and the management team, who will all reinvest. Financial terms of the transaction are not disclosed.

Headquartered in Drachten, the Netherlands, Kooi is a leading provider of TVS and RED solutions, including a range of Units for Observations (“UFOs”), serving various end markets across Europe. The Company provides an end-to-end service from technical advice, delivery, installation and 24/7 monitoring through its own Kooi Alarm Centres.

At present, Kooi has more than 200 employees who serve a growing customer base in 23 countries. The Company has a sizeable presence in the Benelux, DACH, France and the Nordics with a track record of successfully expanding into new geographies. In recent years, the Company has also successfully introduced its UFO offering to sectors including Construction and Infrastructure.
Additionally, Kooi benefits from its unique and strong heritage in Renewables.

With Pieter Kooi’s involvement and the backing of Bencis since June 2018, the current management team, along with its strong staff, has successfully steered Kooi through robust growth, effectively expanding and enhancing its operational capabilities.

In partnership with IK, Kooi plans to: further realise benefits of scale; penetrate the growing TVS and RED markets; establish additional local teams; andexpand internationally into underserved markets.

Completion of the transaction is subject to legal and regulatory approvals.

Peter Schollmann, CEO of Kooi, stated: “We would like to thank Bencis for all their support over the past five years, which has provided us with a solid foundation for future growth. Kooi’s success comes
from our people and culture; something I am very GRUTSK (proud) of!”

Pieter Kooi, Founder of Kooi, added: “We look forward to the next chapter and realising our ambitious plans to accelerate growth of the Company across Europe. We are confident that with the support of IK, we can retain our autonomous, market-leading position and successfully penetrate a host of underserved European markets.”

Remko Hilhorst, Managing Partner at IK and Advisor to the IK X Fund, said: “We have been impressed with Kooi’s track record to date and its ability to continuously evolve its offering to meet the
needs of its customers. It has a well-established presence in the TVS market with further growth potential which can be unlocked in the years to come, particularly in those European markets where IK
itself has a recognised footprint. With this solid foundation in place, we look forward to collaborating with Peter and the team to develop the Company further.”

Robert Falk, Partner at Bencis, added: “Today marks a pivotal moment with the successful exit of Kooi. During our partnership since 2018, Kooi has seen an exceptional growth trajectory, thanks to the
excellent collaboration with Pieter Kooi and the management team. Our journey with Kooi is a testament to a strong strategic partnership and visionary entrepreneurship resulting in an outstanding outcome. We are convinced that IK is the right partner for Kooi to further accelerate its growth and we are confident that Kooi will continue to play its market-leading role. We are proud to have been and continue to be part of this journey and are excited for what the future holds for Kooi.”

About IK Partners
IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in
over 180 European companies. IK supports 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 http://www.ikpartners.com

About Kooi
Kooi offers mobile video surveillance and incident response to secure the sites of its customers 24/7. The company has a leading position in the construction, infrastructure, renewables and waste management sectors across Europe. Kooi offers a range of systems with varying specifications, enabling them to secure different types of sites. For more information, visit https://247kooi.com/

About Bencis Capital Partners
Bencis is an independent investment company that supports business owners and management teams in achieving their growth ambitions. Working out of offices in Amsterdam, Brussels and Düsseldorf,
Bencis has been investing in strong and successful businesses in the Netherlands, Belgium and Germany since 1999. For more information, visit https://www.bencis.com/nl

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Polaris Electro-Optics, Inc. Raises Seed Round to Revolutionize Optical Interconnects

M Ventures

Polaris Electro-Optics, Inc., a Colorado-based company, announced the successful completion of its over-subscribed Seed financing round, resulting in an investment of $3M. Polaris leverages patented material and design innovations to offer the highest speed, most energy efficient integrated photonics products to the communications and computing industries.

BROOMFIELD, Colo., Dec. 4, 2023 /PRNewswire-PRWeb/ — Polaris Electro-Optics, Inc., a Colorado-based company, announced the successful completion of its over-subscribed Seed financing round, resulting in an investment of $3M. Polaris leverages patented material and design innovations to offer the highest speed, most energy efficient integrated photonics products to the communications and computing industries. The funding round was led by Rhapsody Venture Partners and garnered support from new investor Buff Gold Ventures as well as pre-seed investor, M Ventures. As part of this milestone, Bernard Lupien of Rhapsody Venture Partners will join Polaris’ Board of Directors.

Jason Sickler, CEO of Polaris, emphasized the significance of this financing round, stating, “The addition of Rhapsody and Buff Gold Ventures as shareholders, along with the unwavering support from M Ventures, underscores the vast potential of our platform technology to revolutionize the communications and computation sectors. To meet the ever-growing demands of these markets, we must deliver unparalleled speed, exceptional energy efficiency, cost-effectiveness, and stability. In all respects, Polaris’s technology stands unrivaled.”

Bernard Lupien, General Partner at Rhapsody Venture Partners, underlined the remarkable potential of Polaris’s platform, stating, “We’ve conducted thorough assessments of various technologies aimed at continually enhancing the speed and efficiency of optical communications.

 

We believe that Polaris’s platform has the most promising potential for solving the acute data transfer bottlenecks that the industry is facing.

Bernard Lupien, Rhapsody Venture Partners

This funding will be strategically allocated towards advancing material and design innovation. It will further enable Polaris Electro-Optics to showcase high-speed, high-efficiency devices designed for optical interconnect systems, reaffirming their commitment to transforming the optical technology landscape.”

 

Our excitement for Polaris Electro-Optics’ potential to deliver a step-function change to the silicon photonics roadmap has only increased since our pre-Seed investment, and we are more than glad to double down with our Seed round investment.

Daniel Franke, Investment Director at M Ventures and Board Director in the company

Through our existing investments in the photonics, optics, and high-performance compute sectors, we recognize an unmet and rapidly growing need for a next generation of electro-optic modulators. We believe that Polaris’ technology platform will be integral to enable the anticipated fundamental trends in high-performance compute, such as the shift towards datacenter disaggregation,

adds Tobias Egle, Board Observer and Analyst at M Ventures.

“Next to the intrinsic advantages in modulation physics, we see the clear route towards mass-manufacturability and back-end integration with existing fabrications processes as a major differentiator.”

“We are delighted to join the collaborative team of investors supporting Polaris Electro-Optics. The disruptive intellectual property licensed from the University of Colorado, combined with a strong team of experienced founders and technologists, gives Polaris a solid foundation for quick innovation and early traction,” noted Sally Hatcher, Managing Partner of Buff Gold Ventures.

About Polaris Electro-Optics, Inc.

At Polaris Electro-Optics, Inc., we believe that overcoming society’s greatest challenges requires mastery of the creation, movement, and use of information. We are mastering the movement of information by leveraging patented material and design innovations to offer the highest-speed, most energy efficient integrated photonics products to the communications and computation industries. Our goal is to define the standard for moving information. We work hard in a collaborative, cross-functional team environment, and value mutual trust and respect built on a foundation of integrity, transparency, consistency, and humility. Additional information about Polaris is available at www.PolarisEO.com.

About Rhapsody Venture Partners

Rhapsody Venture Partners is a venture firm in Cambridge, MA, that funds early-stage applied science and engineering companies. Rhapsody’s team works side-by-side with entrepreneurs to secure anchor customers that reduce time-to-commercialization and accelerate growth. www.RhapsodyVP.com

About M Ventures

M Ventures is the strategic, corporate venture capital arm of Merck KGaA, Darmstadt, Germany. From its headquarters in the Netherlands and offices in Germany, USA and Israel, M Ventures invests globally in transformational ideas driven by innovative entrepreneurs. Taking an active role in its portfolio companies, M Ventures teams up with management teams and co-investors to translate scientific discoveries into commercial success. M Ventures focuses on identifying and financing novel solutions to some of the most difficult challenges, through company creation and equity investments in fields that will impact the vitality and sustainability of Merck KGaA, Darmstadt, Germany’s current and future businesses. www.M-Ventures.com

About Buff Gold Ventures

Buff Gold Ventures is a venture capital firm dedicated to investing in and supporting innovative startups affiliated with the University of Colorado Boulder. Our mission is to accelerate the development of disruptive technologies that address global challenges while fostering the growth of the next generation of entrepreneurs and venture capitalists. We invest in technology and the diverse teams solving some of the world’s most pressing problems. www.BuffGoldVentures.com.

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Francisco Partners Completes Acquisition of Blancco Technology Group

Franciso Partners

SAN FRANCISCO – Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses, today announced the completion of the all-cash acquisition of Blancco Technology Group (“Blancco” or the “Company”) for 223 pence per share, representing an equity valuation of approximately £175 million. As a result of the completion of the transaction, Blancco has ceased trading and is no longer listed on the London stock market.

With over 2,500 customers served across 70 countries, Blancco is a market leader in secure data erasure and mobile lifecycle solutions. The Company’s products allow organizations to protect end-of-life data against unauthorized access, safely redeploy data storage assets, and firmly comply with increased data protection and privacy requirements.

“Since its founding 26 years ago, Blancco has created and delivered innovative solutions, with a focus on building a world class data eraser and diagnostic software platform,” said Matt Jones, Chief Executive Officer of Blancco. “We are pleased to partner with Francisco Partners, who are committed to continuing to build upon the company’s strong foundation and achieve its full potential. I want to thank each employee for their dedication to Blancco and contributing to our continued success.”

“We have been very impressed with the leading market position that Blancco has established through its best-in-class solutions and are thrilled to partner with Blancco’s management team to drive the next phase of expansion,” said Brian Decker, Partner at Francisco Partners, and Karl Shum, Principal at Francisco Partners. “Sustainability and e-waste reduction are increasing strategic priorities for customers of all sizes globally, and we see tremendous organic and inorganic growth opportunities for Blancco worldwide,” added Ravi Bhatt, Vice President at Francisco Partners.

Rothschild & Co served as financial adviser and Travers Smith LLP acted as legal adviser to Blancco. Canaccord Genuity served as financial adviser and Ropes & Gray International LLP acted as legal adviser to Francisco Partners.

About Blancco Technology Group

Blancco Technology Group provides organizations with secure, compliant, and automated solutions that accelerate the transition to the circular economy. Each year, tens of millions of Blancco erasures allow top-tier organizations to protect end-of-life data against unauthorized access, safely redeploy data storage assets, and firmly comply with increased data protection and privacy requirements. Our precise device diagnostics help move used IT assets confidently into the circular economy, enabling enterprises, IT asset disposition (ITAD) vendors and recyclers, and mobile industry stakeholders to operate more sustainably.

Globally approved, recommended and certified by governing and industry bodies around the world, Blancco is the industry standard in data erasure and mobile diagnostics. With 35+ patented or patent-pending ideas, we continue to grow the number of innovative solutions global companies can rely on to accelerate operations, secure their data, and grow their businesses. Read more about us at www.blancco.com.

About Francisco Partners

Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch nearly 25 years ago, Francisco Partners has invested in more than 400 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately $45 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.

Media Contacts

Francisco Partners
Whit Clay / Sarah Braunstein
wclay@sloanepr.com / sbraunstein@sloanepr.com

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