KKR Closes First Asia Real Estate Fund at US$1.7 billion

KKR

January 13, 2021

HONG KONG–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the final close of KKR Asia Real Estate Partners (“AREP” or the “Fund”), a US$1.7 billion fund focused on opportunistic real estate investments in Asia Pacific.

“AREP’s close marks the next chapter of growth for KKR in Asia Pacific as we continue to expand our position as a proven alternative capital provider across asset classes,” said Ming Lu, Head of KKR Asia Pacific. “Asia Pacific’s real estate sector needs sophisticated investment and innovative operational solutions to meet the high demand for modernized properties and developments that are required to stay ahead of the region’s rapid growth. Our experienced team is well-positioned to capture compelling opportunities and add value to our portfolio to generate attractive, yield-adjusted returns for our investors.”

KKR’s Asia Pacific real estate platform takes a flexible investment approach across assets and platforms, utilizing equity and debt in both emerging and developed markets. AREP will invest in opportunities where KKR can drive meaningful growth by leveraging the Firm’s highly experienced in-country investment teams, its global network of industry and operational experts, and long track record of value creation. The Fund, which builds on KKR’s standing as a partner of choice to leading real estate businesses and developers, will specifically focus on a range of sectors, including commercial, industrial and residential properties, and will opportunistically evaluate assets in emerging alternative sectors.

John Pattar, Head of Asia Pacific Real Estate at KKR, said, “The transformation of Asia Pacific’s real estate sector is creating a strong pipeline of new and exciting opportunities that are well-suited to KKR’s flexible investment approach, local expertise and deep operational experience. Increased domestic consumption, productivity and urbanization – combined with the acceleration of e-commerce and platform-based businesses and the evolution of the traditional office landscape – is fundamentally reshaping the region’s real estate sector. AREP will play an important role in bringing the necessary solutions to the region’s real estate industry during this exciting phase of growth.”

AREP, which is KKR’s inaugural pan-Asian real estate fund, received strong support from a diverse group of new and existing global investors, including public and corporate pensions, sovereign wealth funds, insurance companies, endowments, private banking platforms, family offices and high net worth individual investors. The Fund represents one of the largest inaugural pan-regional real estate funds to have been raised in Asia Pacific to date.

“Our ability to raise this Fund in the midst of a pandemic is a testament to the strength of KKR’s Asia Pacific franchise, proven real estate track record around the world, and the trust in our ability to create value,” said Jon Fiorello, Head of KKR’s Real Estate Strategies Team. “We appreciate the confidence that our global investors have placed in our strategy and team.”

In Asia Pacific, the Firm has deployed more than US$1.5 billion of equity across approximately 20 real estate transactions since 2011, including investments in mixed use, commercial, industrial, hotel, office and retail properties. KKR has also provided debt financing to real estate developers and companies. Assets within KKR’s Asia Pacific real estate portfolio include, but are not limited to, Namsan Square, an office tower located in Seoul’s central business district.

Ralph Rosenberg, Global Head of KKR Real Estate, said, “AREP’s close is an exciting milestone for our global real estate platform. Asia Pacific is an integral and increasingly important part of our investment strategy given the attractive growth and demographic drivers shared by markets across the region. Looking ahead, we are well-positioned to build on our successes in Asia Pacific to create a diverse portfolio of investments capable of delivering attractive returns to our investors.”

KKR launched its dedicated real estate platform in 2011. The Firm has approximately US$14 billion of real estate assets under management in the US, Europe and Asia Pacific, as of September 30, 2020, and a team of approximately 90 dedicated investment professionals across 11 offices and 8 countries.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media:
KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

KKR Americas
Kristi Huller, Cara Major or Miles Radcliffe-Trenner
+1 212-750-8300
Media@kkr.com

Source: KKR

 

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Astorg to acquire stake in Third Bridge from IK Investment Partners

ik-investment-partners

IK Investment Partners (“IK”) is pleased to announce that the IK Small Cap I Fund has reached an agreement to sell its stake in Third Bridge (“Third Bridge” or “the Company”) to Astorg. Financial terms of the transaction are not disclosed.

Third Bridge is a leading global research organisation, serving over 1,000 of the world’s private equity funds, hedge funds, mutual funds and management consulting firms. The Group’s primary activities focus on generating interview content and connecting experts with investors to help them make better investment decisions. As part of this, the firm conducts thousands of consultations and interviews every week, providing its clients with viewpoints on companies and markets across the globe.

Third Bridge was founded in 2007 and today employs 1,000 people across eight offices in North America, Europe and Asia. The Company’s three original co-founders Emmanuel Tahar, Joshua Maxey and Rodolphe De Hemptinne will be reinvesting the significant majority of their proceeds into the new transaction and will continue in their existing leadership roles. IK first invested in Third Bridge in 2017, and since then the Company has significantly grown its top line, expanded the product offering across global jurisdictions and strengthened its leadership position in the investment research market.

Astorg will join the co-founding shareholders to support the next stage of growth for Third Bridge as it continues to grow its footprint and develop new services.

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

Emmanuel Tahar, CEO and co-founder of Third Bridge said: “Third Bridge has enjoyed a fantastic partnership with IK over the last three and a half years. The team was aligned with our strategy from day one and has supported our strong growth during this period. We are excited to partner with Astorg as we look to expand into new markets and scale the business further.”

Arnaud Bosc, Partner at IK and advisor to the IK Small Cap I Fund said:“We are very proud of our partnership with the Third Bridge team. In just over three years, Third Bridge has achieved an impressive expansion in the US and has managed to significantly broaden its product offering. We wish Emmanuel and his team the best for the future.”

François de Mitry, Managing Partner at Astorg, commented: “As a significant user of primary research services, Astorg has witnessed first-hand the high growth that the market has experienced over the past five years and we are highly confident that the market will continue on its double-digit growth trajectory.” Benoît Ficheur, Partner at Astorg added: “We have been extremely impressed by Third Bridge’s track record of consistently outperforming market growth through ensuring outstanding quality of service. We are very excited to have the opportunity to partner with the founders and management through the next stage of the company’s journey.”

For further questions, please contact:

IK Investment Partners

Maitland/AMO
James McFarlane
Phone: +44 (0) 7584 142 665
jmcfarlane@maitland.co.uk

About IK Investment Partners

IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €13 billion of capital and invested in over 140 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 www.ikinvest.com

About Astorg

Astorg is a leading independent private equity firm with over €9 billion of assets under management. We work with entrepreneurs and management teams to acquire market leading global companies headquartered in Europe or the US, providing them with the strategic guidance, governance and capital they need to achieve their growth goals. Astorg enjoys a distinct entrepreneurial culture, a long-term shareholder perspective, and a lean decision-making body. We have valuable industry expertise in healthcare, software, business-to-business professional services and technology- based industrial companies. Astorg has offices in London, Paris, New York, Frankfurt, Milan and Luxembourg. For more information about Astorg: www.astorg.com

About Third Bridge

Third Bridge was founded in 2007 and today employs a team of more than 1,000 across eight offices in North America, Europe and Asia. The Group’s primary activities focus on generating interview content and connecting experts with investors to help them make better investment decisions. As part of this, the firm conducts thousands of consultations and interviews every week, providing its clients with viewpoints on companies and markets across the globe. Third Bridge serves over 1,000 of the world’s top private equity funds, hedge funds, mutual funds and management consulting firms. For more information visit www.thirdbridge.com

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DIF Capital Partners acquires additional stake in Dublin Waste to Energy PPP project

DIF

Following its initial investment in May 2019, DIF Capital Partners, through DIF Infrastructure V (“DIF”), is pleased to announce it has closed the acquisition of an additional 10% stake in the Dublin Waste to Energy PPP project (the “Project”). Together with its partner MEAG, DIF acquired the stake from the Green Investment Group (“GIG”). Following this transaction, DIF and MEAG together now hold 50% of the Project, with DIF holding the majority thereof. The Project is an operational waste to energy facility supported by a 45 year contract with Dublin City Council.

Located in Poolbeg, Dublin Port, the Project processes 600,000 tonnes of residual waste annually and generates electricity which is exported to Ireland’s national grid – sufficient to power 80,000 homes. The facility has been designed to provide highly efficient incineration and is classified as energy recovery in line with EU policy on waste. The Project is part of a wider Dublin regional waste management plan, which is aimed at reducing waste, maximizing recycling and generating energy from waste. The Project benefits from the Irish renewable energy feed-in tariff. The facility was constructed by Covanta who are also its long term operator.

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €8.5 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

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

DIF Capital Partners has a team of over 150 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; a.ruijs@dif.eu.

 

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Ardian and BNP Paribas developpement invest in Proteor, a french leader in external orthopedics

Ardian

13 January 2021 GrowthFrance, Paris

Paris, January 13, 2021 – Proteor, a major player in the manufacture and distribution of prosthetics and orthotics, has chosen to partner with Ardian, a world leading private investment house, and BNP Paribas Développement, the investment arm of BNP Paribas Group.

Through this investment, Ardian and BNP will support the company in the next phase of its development and in the acceleration of its international expansion, particularly in Europe and North America.

Founded more than 100 years ago, Proteor is a family business headquartered in Dijon, Burgundy, France. The company’s core business is in the manufacturing and distribution of orthopedic devices, with the Group providing tailor-made equipment to meet the needs of patients. Proteor employs more than 900 people and generates more than 20% of its turnover abroad, with operations in France, Europe, the United-States, China and Japan.

Proteor’s growth has been possible thanks to a network of more than 70 orthopedic centers in France and across Europe, which are staffed by more than 200 orthopedic professionals.

The company is also active in the design, manufacturing and marketing of components and materials for prosthetics and orthotics. Proteor has sites in Seurre, France and a factory in Tempe, Arizona in the US. The Group is actively engaged in innovation in this field and has filed more than 100 patents since its creation.

The Group has been focused on expansion in recent years. In 2016, it acquired Lecante, a network of orthopedic centers in France, to extend its market coverage and acquire new software expertise for orthoprosthesists), and made a first acquisition in the United-States in. In 2018, Proteor acquired Ability Dynamicswhich enabled it to expand its product offering and strengthen its presence in the US market.

Now, with the backing of Ardian and BNP Paribas Développement, Proteor will be able to accelerate its international expansion by acquiring Freedom Innovation in the US from Otto Bock Healthcare North America. This transaction is in line with Proteor’s long-term strategy and will help further strengthen its components and materials division, its production capacity and its technological know-how, particularly in microprocessor-controlled knees and new-generation ankle and foot prosthetics.

“Ardian and BNP Paribas Développement were instrumental in negotiating and securing the Freedom Innovations acquisition. With their help, we were also able to complete this first capital opening alongside the founding family. This marks the first step in a collaboration that aims to make Proteor one of the world leaders in external orthotics. » said Jean-Fraçois Cantero and Edouard Archambeaud for Proteor.

“Proteor is a French flagship in external orthopedics, which has been able to expand thanks to innovative solutions particularly adapted to patients’ needs. We are pleased to be partnering with the company in this new phase of international development and consolidation of its technological assets and help Proteor become one of the world leaders in its market”, continued Alexis Saada and Frédéric Quéru for Ardian Growth.

“This partnership reinforces a long-standing relationship based on trust with the management and the founding family. We are delighted to support Proteor in pursuing its innovation strategy and in its new phase of international growth.” concluded Gilles Poncet and Guillaume Wolf for BNP Paribas Développement.

 

ABOUT PROTEOR

Proteor is an independent family business, founded over 100 years ago and headquartered in Dijon, France. Proteor operates in the orthotics and prosthetics market with three main business areas: software, components and custom orthopedic devices. Thanks to continuous investments in innovation, numerous medical and scientific partnerships, and daily cooperation with orthoptists, Proteor benefits from recognized expertise in the orthopedic sector.

 

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$103bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 700 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Follow Ardian on Twitter @Ardian

 

ABOUT BNP PARIBAS DEVELOPPEMENT

BNP Paribas Développement, an independent subsidiary of the international banking group BNP Paribas, is a public limited company that has been investing its equity capital directly as a minority shareholder for over 30 years to support the development of high-performance SMEs and ETIs and ensure their sustainability by facilitating their transfer. In addition to the financial resources made available to the company to ensure stable resources, the vocation of BNP Paribas Développement is to support the management team over the long term in carrying out its medium-term strategic projects. Our minority position ensures our partners an adapted governance without interference in the day-to-day management, while benefiting from the strength of a recognized group and the experience of a partner with a portfolio of more than 400 diversified investments.

Participants

  • Ardian

    • Alexis Saada, Frédéric Quéru, Louise Gros
  • Proteor

    • Edouard Archambeaud, Jean-François Cantero
    • M&A advisors: Neuflize OBC (Johanna Guzman, Géraldine Grossiord, Anne Nguyen)
    • Legal advisors: Alcya Conseil (Laurent Simon, Antonin Thel, Jérôme Loisy)
    • Financial advisor: Advance (Olivier Poncin, Arnaud Vergnole, Thomas Recipon, Mehdi Adyel)
  • BNP Paribas Development

    • Gilles Poncet, Guillaume Wolf, Julien Lemaire
    • Legal advisors & audit: McDermott Will & Emery (Diana Hund, Antoine Vergnat, Emmanuelle Turek, Côme de Saint-Vincent, Katya Ascher)
    • Financial audit: Eight Advisory (Christophe Delas, Nicolas Bassi)
    • Arranger: BECM-CIC (Aurélie Stassinet, Nathalie Picard, Corinne Bugaut)
    • BNP Paribas (Stéphanie Bibollet, Antoine de la Taille), LCL (Anne Garrot, Dirk Weinand, Aurélia Bojmal), Banque Populaire BFC (Edwige Lemarchand, Christine Velon, Fabienne Blanc Mondiere)
    • Crédit Agricole (Barbara Kieres Balko, Jean-Christophe Risold, Adrien Bagard)
    • Advisor : De Gaulle, Fleurance & Associés (May Jarjour, Margaux Baratte, Vahan Guevorkian)

PRESS CONTACTS

ARDIAN – Headland

VIKTOR TSVETANOV

VTsvetanov@headlandconsultancy.co.uk +44 207 3435 7469

 

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Robocath successfully carries out Europe’s first remote robotic-assisted coronary angioplasty

Supernova Invest

Rouen, France, January 13, 2021 — Robocath, a company that designs, develops and commercializes cardiovascular robotic systems for the treatment of vascular diseases, today announces the successful completion of the first remote robotic-assisted coronary angioplasty in Europe. The procedure was carried out by Prof. Eric Durand and Prof. Rémi Sabatier at the Rouen Medical Training Center and Caen University Hospital in France – spanning 75 miles (120 km) between the two locations. The procedure is the first of its kind in Europe; it was completed with R-One™, Robocath’s first commercial robotic-assisted platform. This unprecedented achievement opens the door to new options for patients who live in remote areas and require swift treatment to successfully treat cardiovascular diseases.

The procedure was carried out on an animal model on December 8, 2020. Consistent communication between Prof. Sabatier – operating in the Caen University Hospital, and Prof. Durand – based at the Medical Training Center in Rouen, was secured using a variety of tools.

Prof. Rémi Sabatier, Interventional Cardiologist at Caen University Hospital and Associate Professor in Remote Medicine said: “There are still significant disparities in the level of care for cardiovascular diseases depending on where a patient lives. For example, in Europe, 40% of heart attacks are not treated with a coronary angioplasty, even when this is clearly a better option for the patient than fibrinolytic therapy. This is essentially because it takes too long to get to an interventional cardiology center (1). This pioneering robotic procedure, the first in Europe carried out at a distance of over 70 miles, could eventually improve patient care in case of serious cardiac events such as heart attacks and strokes, and save lives. Aside from the technical achievement, it’s been a privilege for me personally to be involved in this first intervention. The equipment provided by Robocath meant that I was perfectly able to communicate with my colleagues in Rouen without a hitch. Operating my tools remotely felt exactly the same as a standard robotic procedure.”

Prof. Eric Durand, Interventional Cardiologist at Rouen University Hospital said: “I’m delighted to have participated in this landmark operation, which has proven that long-distance robotic procedures can be completed safely and securely by qualified caregivers. There are a number of challenges that still need to be overcome before this can become commonplace within this sector, particularly in relation to the required personnel training and legal liability. Nonetheless, I’m convinced that the future of interventional cardiology is robotic and that this remote connection module will speed up growth in this area.”

Bruno Fournier, CTO at Robocath said: “This successful operation is a great proof-of-concept in a number of technical aspects; it demonstrates that a coronary angioplasty can be completed safely between two distant sites. In the long run, our goal is to provide the user with the same level of performance as with an in-person robotic procedure.”

Lucien Goffart, CEO of Robocath said: “Cardiovascular diseases are currently the number one cause of death worldwide. In part, this is due to a number of circumstances which make it hard to improve treatment, such as geographic, structural and economic factors. Ensuring equality of treatment and access to care – regardless of where one lives, is fundamental. Robotic interventional medicine unquestionably represents a reliable response to these major social challenges. Firstly, robotic procedures make vascular intervention safer for the physician, by providing complete protection from X-rays; over the last 15 years, X-ray exposure has had a significant effect on the number of qualified people entering this field. People are less available, less willing to train, because of the health conditions caused by wearing lead equipment. This has resulted in a growing shortage of qualified medical staff. Secondly, remote robotic interventions will provide patients with rapid access to the best treatment by experts, who can operate from a specialist center on a patient located at a smaller ER.”

Philippe Bencteux, President and Founder of Robocath said: “When I founded this company, almost ten years ago, my ambition was to develop robotic solutions for remote treatment in order to improve care for patients suffering from serious heart conditions such as strokes, heart attacks and hemorrhagic shocks. This telerobotic intervention represents a major triumph for public health. It will clear the way for better treatment for a significant majority of the population – who have not had access to it before. Almost twenty years after the first surgery was carried out between two different locations: New York and Strasbourg, I am particularly proud that Robocath has achieved this ‘first’ in remote vascular intervention. It is a key step in developing the field and will soon lead to a new global era in interventional treatment.”

(1) Widimsky P, Wijns W, Fajadet J, et al., Reperfusion therapy for ST elevation acute myocardial infarction in Europe: description of the current situation in 30 countries, Eur Heart J, 2010;31:943–57 ; Grønborg Laut K., Becic Pedersen A., Lash T., and Dalby Kristensen S., Barriers to Implementation of Primary Percutaneous Coronary Intervention in Europe, European Cardiology, 2011;7(2):108–12

ABOUT ROBOCATH

Founded in 2009 by Philippe Bencteux, MD, Robocath designs, develops and commercializes robotic solutions to treat cardiovascular diseases. As an active player in the evolving medical robotic industry, these innovative solutions aim to make medical procedures safer thanks to reliable technologies, while complementing manual interventions.

R-One™ is the first solution developed by Robocath. It uses a unique technology that optimizes the safety of robotic-assisted coronary angioplasty. This medical procedure consists of revascularizing the cardiac muscle by inserting one or more implants (stents) into the arteries that supply it with blood. Every 30 seconds, somewhere in the world, this type of procedure is performed. R-One is designed to operate with precision and perform specific movements, creating better interventional conditions. Thanks to its open architecture, R-One is compatible with market-leading devices and cath labs.

In a prospective, randomized, controlled pre-clinical trial, R-One demonstrated safety and efficacy as it achieved 100% technical procedure success and no MACE (major adverse cardiovascular events). R-One received the CE marking in February 2019 and started its clinical application in September 2019. Currently R-One is available in Europe and Africa.

Robocath aims to become the world leader in vascular robotics and develop the remote treatment of vascular emergencies, guaranteeing the best care pathway for all. Based in Rouen, France, Robocath has more than 40 employees.

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K1 Agrees to Sell Clarizen, the Category Leader in Enterprise Collaborative Work Management, to Planview

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K1

LOS ANGELES, January 12, 2021 — K1 Investment Management, LLC (“K1”), a leading investment firm focusing on high-growth enterprise software companies, today announced it has entered into a definitive agreement to sell Clarizen, the category leader in Enterprise Collaborative Work Management software. Clarizen, based in Tel Aviv, Israel and San Mateo, California, will be acquired by Planview, a leading portfolio and work management solutions platform backed by TA Associates and TPG Capital. K1 will continue to hold a minority stake in the combined company.

K1 acquired Clarizen in 2018 and partnered with management to expand the company’s North American presence while driving topline growth and expanding profitability. With K1’s backing, Clarizen made several targeted go-to-market and product investments that resulted in nearly doubling the company’s enterprise business. In October 2020, the company was recognized as a leader in project and portfolio management software by G2 Crowd and ranked #1 in user experience and ease of implementation.

“K1 was the perfect partner for Clarizen over the last few years,” said Boaz Chalamish, Executive Chairman at Clarizen. “They helped us accelerate our expansion in North America, continued to support investment in our products and helped drive substantial improvements in our team.”

Clarizen’s customer base includes over 900 organizations in over 120 countries including Box, Siemens, Blackrock, Western Union and Dell.

“Clarizen has become a clear category leader in enterprise work management,” said Sujit Banerjee, Managing Director of K1 Operations, LLC. “We identified Clarizen as having one of the best products in the industry when we first invested, and we worked closely with Boaz and his team to execute on the vision for becoming the global solution for enterprises looking to use technology to do more with less.”

The transaction is subject to regulatory approval. Clarizen was advised by William Blair as financial advisor, and Morris, Manning & Martin LLP and Meitar as legal counsel in the US and Israel, respectively.

Financial terms of the combination were not disclosed.

About K1

K1 builds category-leading enterprise software companies. As a global investment firm, K1 assists high-growth businesses to achieve successful outcomes, and invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. With over 100 professionals, K1 and its operating affiliate, K1 Operations LLC, change industry landscapes by assisting with operationally-focused growth strategies designed to assist portfolio companies scale efficiently. Since inception of the firm, K1 has partnered with over 135 enterprise software companies including industry leaders such as Apttus, Buildium, Checkmarx, ChiroTouch, Clarizen, ControlUp, Emburse, FMG Suite, Granicus, Graduway, IronScales, Litera Microsystems, Onit, Rave Mobile Safety, RFPIO, Smarsh, WorkForce Software and Zapproved. For more information about K1, please visit k1capital.com or follow us at linkedin.com/company/k1im.

About Clarizen

Clarizen connects work across the enterprise, turning ideas into strategies, plans, and action. With Clarizen, organizations can work the way they want to work and have real time visibility into all their workstreams. This keeps teams focused on the things that matter, delivers results faster, and helps them exceed their company goals and customers’ expectations. Thousands of global customers, such as Jones Lang LaSalle (JLL), Siemens, De Beers, Ricoh, Box and Shaw Industries, across a wide variety of industries in 124 countries rely on Clarizen to help them achieve their business goals. To learn more, visit clarizen.com.

SOURCE: PRNewswire

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Employee Navigator Raises $34 Million in Growth Equity Financing

JMI Equity

BETHESDA, Md.–(BUSINESS WIRE)–Employee Navigator, a leading benefits administration & HR software provider, announced it has raised $34 million in growth equity funding from JMI Equity. The minority investment will go towards hiring across all functions and expanding Employee Navigator’s product offerings.

The company began licensing its benefits and HR products to insurance brokers in 2012 and has expanded its offerings to partner with the nation’s leading insurance carriers, payroll companies, and third-party administrators (TPAs) to provide a unified benefits and HR solution. Employee Navigator’s growth has accelerated over the past few years; they now support over 2,000 of the nation’s leading insurance brokers, over 50,000 employers, and over 10 million employees and dependents.

“As our business matured, we became convinced of the opportunity to sustainably build a substantial company supporting our core market,” said George Reese, Founder and CEO of Employee Navigator. “We believe there is a need for an agnostic company to bring the benefits ecosystem stakeholders together, and we are confident Employee Navigator can be that trusted partner. We have come to know JMI very well over the last two years and feel they are the ideal long-term partner for our business goals. Ultimately, this was an opportunistic fundraise as we’ve been profitable since 2015 and continue to grow profitably despite the COVID-19 headwinds, and we are excited to deliver more great products and services to our customers and partners.”

“George and the Employee Navigator team have built a resilient business well-positioned for accelerated growth, as demonstrated by their record new business and profitability through COVID,” said David Greenberg, General Partner at JMI Equity. “The Company has established itself as a leader in the benefits administration software space, with impressive employee scale on the platform and some of the most positive customer and partner reference calls we have ever completed. Most importantly, George and the team have the deep insurance industry experience that is crucial to sustained success in this space. We are incredibly excited to partner with Employee Navigator and support their compelling long-term vision.”

About Employee Navigator

Employee Navigator is a rapidly growing benefits, compliance, and HR software provider. The company currently works with more than 2,000 industry-leading brokers nationwide, providing benefits administration and HR products to over 50,000 companies and 10 million employees and dependents.

Employee Navigator has also been named a Top Workplace by the Washington Post in 2017, 2018, 2019 and 2020. For more information, visit www.employeenavigator.com

About JMI Equity

JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 150 businesses in its target markets, successfully completed over 100 exits, and raised more than $4 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders. For more information, visit www.jmi.com.

Contacts

For Employee Navigator:
Kyle Reese
kreese@employeenavigator.com
301-583-5185

For JMI Equity:
Chuck Dohrenwend / Will Braun
Abernathy MacGregor
cod@abmac.com / whb@abmac.com
212-371-5999

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Baird Capital Invests in Jumpcode Genomics

Baird Capital

Baird Capital announced today that its venture team has completed an investment in Jumpcode Genomics (“Jumpcode”), a genome technology company focused on improving the understanding of human disease. Joining Baird Capital in the $21 million Series B round of funding was Arboretum Ventures and existing investor LYZZ Capital.

Jumpcode Genomics

Founded in 2016, Jumpcode’s patented technology unlocks the power of next-generation sequencing by improving sensitivity, reducing costs, simplifying workflows and removing bias. Researchers worldwide are using Jumpcode’s CRISPRClean technology in the fields of basic research, infectious disease, oncology and consumer genomics.

“The Jumpcode Genomics team and advisors have a tremendous amount of experience and knowledge in this sector,” said Mike Liang, Partner with Baird Capital. “We believe the underlying technology within Jumpcode has revolutionary applications within the life sciences tools market and within clinical diagnostic applications.”

For the full announcement and additional details on the funding round, a new board member appointment and office and laboratory space expansion, the full press release is available here.

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Volpi Capital beats target with second fund holding final close at €323m

Volpi Capital

London,12 January, 2021: Volpi Capital, the London-based mid-market tech investor, has today announced the final close of its second fund at €323 million (excluding co-investments) surpassing its €300 million target. Despite the challenges of fundraising during the pandemic, the new fund is 75% larger than Volpi’s predecessor fund which closed in March 2018 on €185 million.

This successful fundraise enables Volpi to continue its thematic, “Pick-Your-Partner” approach to investing in Northern European tech-enabled businesses. As with Fund I, Fund II will focus on businesses providing mission-critical services to enterprise customers where technology is displacing traditional business models. Volpi takes a partnership approach to working with management teams to accelerate growth, driving transformation through product expansion, internationalisation and ambitious buy-and-build programmes.

Investors were attracted to Volpi’s tech-enabled focus and resilient portfolio, which grew EBITDA by 27% in 2020. Volpi secured backing from both existing investors, and substantial new commitments from blue-chip European (70%) and US (30%) institutions, including university endowments, fund of funds, insurance companies and family offices.

The growth seen in Volpi’s assets under management reflects the growth of Volpi Capital itself. Today Volpi comprises an internationally diverse team of 17, which will continue to grow as the Fund is invested.

The Fund has already made five investments to date, backing Dutch IT services company Mansystems; Norwegian FSM software provider Asolvi; Dutch fleet management software provider Moving Intelligence; Danish software and solutions business Boyum IT and Profit Software; a Nordic IT services company for the insurance and banking sectors.

Crevan O’Grady, Partner at Volpi Capital said:

“It is fantastic to see the investor support we have received in raising Fund II, especially at such a tumultuous time. We look forward to working with our investors, new and existing, to continue building pan-European tech-enabled assets capable of generating exceptional returns”.

Marco Sodi, Partner at Volpi Capital said:

“The market conditions we have seen in the past year have served to validate the robustness of our thesis and accelerate the long term trends we have been investing behind since inception. Throughout 2020 we have continued to identify attractive opportunities, reflected in our strong deployment, and we look forward to delivering more outstanding deals for our investors in Fund II”.

The Volpi Capital II fundraise was advised by Rede Partners. Loyens and Loeff and MJ Hudson acted as legal advisors.

About Volpi Capital

Volpi Capital is a specialist Northern European lower mid-market private equity firm seeking ambitious businesses that use technology to disrupt traditional B2B value chains. Volpi typically invests €25-75 million of equity in businesses with enterprise values between €50 million and €200 million and seeks to drive transformative growth through international expansion and consolidation. The firm, which was founded in 2016 by Crevan O’Grady and Marco Sodi, today comprises 17 professionals. Volpi closed its first fund (Volpi Capital Fund I) in April 2018 with commitments of €185 million and its second fund (Volpi Capital Fund II) in December 2020 with €323 million of commitments.

For further information visit www.volpicapital.com

Media enquiries:

Volpi Capital – Samantha Lang T. +44 203 747 2625

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Hornetsecurity Agrees to Acquire Software Solutions Provider Altaro to Create International Cloud Security and Compliance Software Platform

Verdane Capital

Transformative acquisition by Hornetsecurity to establish pan-European solution to security and compliance issues in the Microsoft 365 environment

Hanover, Germany –Hornetsecurity Group, a leading European provider of cloud-based email security and data protection headquartered in Germany, today announced that it has agreed to acquire Altaro, a high-growth international provider of reliable backup solutions. The acquisition will transform the company from being a regional leader in cloud email security to an international cloud security and compliance platform.

Altaro provides cloud back-up software for Microsoft Office 365 and virtual machine (VM) software focused on mid-market and SMEs. Headquartered in Malta with offices in the UK, Germany, France, North Macedonia and the US, Altaro serves over 50,000 customers across more than 120 countries.

This transaction will significantly expand Hornetsecurity’s international presence and product range, making the company a pan-European solutions provider to security and compliance issues in the Microsoft 365 environment. As part of the transaction, Altaro’s founders will be appointed into management roles within Hornetsecurity.

 

The transaction is supported by Hornetsecurity’s shareholders Verdane, the Northern European specialist growth equity investor and PSG, a leading growth equity firm partnering with lower middle-market software and technology-enabled service companies.

“We’re thrilled to welcome the Altaro team to help drive the next phase of our growth,” said Daniel Hofmann, CEO of Hornetsecurity. “As we look to provide all organisations with a complete security and compliance solution for their use of cloud technologies, integrating Altaro’s backup solutions into Hornetsecurity’s email cloud security product portfolio will complete the comprehensive security package puzzle.”

David Vella, CEO of Altaro, added: “We have found exactly the right strategic buyer in Hornetsecurity and are delighted to become part of the group. The two companies’ existing business lines complement each other perfectly, and by combining these along with our pooled industry experience and know-how, we are confident in Hornetsecurity’s ability to become the European market leader in cloud security.”

Financial terms of the transaction were not disclosed.

 

About Hornetsecurity Group

Hornetsecurity is a leading email cloud security provider in Europe, which protects the IT infrastructure, digital communication and data of companies and organizations of all sizes. Founded in 2007, the security specialist from Hanover, Germany, provides its services worldwide via 9 redundant, secured data centres. The product portfolio covers all important areas of email security, including spam and virus filters, legally compliant archiving and encryption, as well as defense against CEO fraud and ransomware. With around 200 employees, Hornetsecurity is represented globally at 11 locations and operates in more than 30 countries through its international distribution network. The premium services are used by approximately 40,000 customers including Swisscom, Telefónica, KONICA MINOLTA, LVM Versicherung, DEKRA and Claas.

Further information on www.hornetsecurity.com

 

About Altaro

Altaro is a high-growth developer of reliable backup solutions for managed service providers (MSPs), IT resellers and enterprises. The company has over 50,000 customers in 121 countries around the world, 10,000 partners and over 2,000 MSPs. Altaro offers cost-effective and professional features without unnecessary aspects that add costs or excessive complexity. The flagship product is the backup solution for virtualized environments Altaro VM Backup. It is becoming increasingly popular and is the first choice for Hyper-V and VMware backups and replications. Altaro Office 365 Backup is a subscription solution for backing up and restoring Office 365 mailboxes. A backup solution for physical Windows servers is also available. Altaro has offices in the U.S., U.K., Germany, France, northern Macedonia and Malta.

For further information visit www.altaro.com

 

About Verdane

Verdane is a specialist growth equity investment firm that partners with ambitious Northern European tech-enabled businesses to help them reach the next stage of international growth. Verdane pioneered portfolio acquisitions in Northern Europe in 2003, and announced a complementary fund strategy entirely dedicated to direct investments in 2018. Verdane’s eight funds hold €2.1bn in total commitments and have made over 120 investments in category leaders within software, digital consumer, and energy & resource efficiency. Verdane’s team of more than 60, based in Berlin, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner in Northern Europe. www.verdane.com

About PSG

PSG is a growth equity firm that partners with lower middle-market software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 60 companies and facilitated over 250 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City and London.

 

Press contacts

Jonathan Bui, Communications Manager
Verdane
press@verdane.com
+46 76 27 28 100

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