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Portfolio company Codesandbox secures $12.7M series A funding

Arches Capital

Portfolio company CodeSandbox raised $12.7 million Series A funding, led by EQT Ventures, with participation from existing investors, Kleiner Perkins, Arches Capital, and new angel investors. With more than 2.5 million developers on their platform and over 10 million projects created, this Dutch delight is kicking ass! CodeSandbox will be using this funding to keep making it easier for creators to build and share their ideas with code.

Building a community around rapid web development

CodeSandbox launched 3 years ago, providing free, instant, collaborative sandboxes for rapid web development. In an increasingly complicated and fragmented ecosystem, CodeSandbox set out to make getting started with a new web application possible in just one click. When you want to experiment or learn something new, CodeSandbox removes the hassle of setting up a development environment, installing tooling, and provisioning—so you can focus on coding instead.

With its free, instant and collaborative sandboxes, CodeSandbox makes it possible to create static sites, components and full-stack web apps within seconds. This breakthrough has spurred a large community of web developers to form around the platform. Now, more than 2.5 million people each month make use of the more than 10 million projects that have been created on the platform. CodeSandbox has become the go-to place to prototype ideas with its fast, deep integrations with JavaScript frameworks like React, Vue and Angular.

We are creating the best tool for product teams to collaborate and build web apps quickly. Rather than trying to take a local development environment and simply put it in the Cloud, we’re building a web-first offering that is faster, more collaborative, and easier to use.

Ives van Hoorne, CEO CodeSandbox

With the launch of Pro Workspaces, whole product teams will be able to work on sandboxes together for the first time. A designer can provide quick UI feedback, a product manager can see how their specification is being implemented and marketing will be able to update associated copy. CodeSandbox Pro Workspaces i s currently available by invitation only and teams can join the waitlist here as more people will be added throughout Q4 2020.

About CodeSandbox
CodeSandbox provides free, instant, collaborative sandboxes for rapid web development. Founded in 2017, they have raised more than $15M from top-tier VCs and prominent industryfigures, including EQT Ventures, Kleiner Perkins, Arches Capital, Christian Bach & Mathias Biilmann (Netlify), and Dylan Field (Figma). CodeSandbox is used by developers around the globe, including within organizations like Shopify, Atlassian, and Stripe.

For more information visit www.codesandbox.io

About Arches Capital
Arches Capital, a fast-growing group of business angels, invests in startup and scale-up companies with a large growth potential. Through its investments, Arches Capital bridges the gap between formal investors (VCs) and informal investors (business angels), by joining the best of both worlds:

“ We source, select and invest like a VC;
We engage, care and inspire as the angel we are. ”

By bundling smart capital (combining funding with real business knowledge and experience) with true engagement (actively working together to achieve growth), we are able to ignite early stage companies achieve above-average growth. Arches Capital distinguishes itself from other angel networks by its active support to angels building a broad and professional investment portfolio, co-investment from Arches Capital in each deal and the unique distribution of proceeds amongst its members.

For more information, visit www.arches.capital

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CapMan Plc 1–9 2020 Interim Report

CapMan Plc Stock Exchange Release / 1-9 2020 Interim Report
29 October 2020 at 8:30 a.m. EET

CapMan Plc 1–9 2020 Interim Report

Results and significant events in January–September 2020:

  • Group turnover was MEUR 29.6 1 Jan–30 Sep 2020 (MEUR 32.4
  • 1 Jan–30 Sep 2019), a decrease of 9 per cent from the comparison period.
  • Management Company business turnover was MEUR 20.7 (MEUR 19.8), growth was 5 per cent from the comparison period, and operating profit MEUR 5.5 (MEUR 3.6). Management fees were MEUR 19.2 (MEUR 17.4), growth was 10 per cent.
  • Service business turnover was MEUR 8.8 (MEUR 12.5), decrease was 30 per cent from the comparison period, and operating profit MEUR 4.1 (MEUR 8.2).
  • Investment business operating profit was MEUR -3.1 (MEUR 8.1) due to fair value changes of own investments.
  • Operating profit was MEUR 2.6 (MEUR 16.0).
  • Diluted earnings per share were -1.1 cents (6.8 cents).
  • CapMan Nordic Real Estate III fund held a first closing at MEUR 313. The fund’s target size is MEUR 500 and fundraising for the fund continues.
  • CapMan Growth II fund exceeded its target size and has raised MEUR 88 to date.

This stock exchange release is a summary of CapMan Plc’s 1–9 2020 Interim Report. The complete report is available in pdf-format as an attachment to this release and on the company’s website at https://www.capman.com/shareholders/financial-reports/.

Joakim Frimodig, CEO:

”We continued to advance our business in the third quarter of 2020. This year, we have completed several new growth and development initiatives that support our chosen strategic direction and help build a foundation for growing results in the coming years. Our fee-based profitability was on a good level and the impact of recurring fees to our earnings mix is growing. The fair values of our fund investments have continued to develop positively in the third quarter following the decrease brought on by the Covid-19 pandemic in the beginning of the spring.

Our Management Company business grew by 5 per cent following new products and funds under management. The operating profit of the Management Company business was MEUR 5.5, growing by more than 50 per cent from the comparison period due to both growth in fees and improved cost efficiency. During the third quarter, we raised almost MEUR 500 in new capital under management, which increased by approx. 15 per cent from the end of the second quarter. We raised MEUR 313 for the first closing of the CapMan Nordic Real Estate fund and expanded the BVK mandate by MEUR 70. In addition, we increased the size of the CapMan Growth II fund and commitments to the fund have exceeded the target size of MEUR 85. These and other fundraising projects continue, and new capital raised will impact turnover and results in full starting from next year.

Our Service business turnover fell by 30 per cent in the review period compared to last year due to lower transaction-based services in all services areas during the second and third quarter of the year. The market situation following the Covid-19 pandemic provided a backdrop to the lower transaction activity. In comparison, recurring service fees grew well by over 10 per cent in total from the corresponding period last year. We have continued to develop our services and created new business. Our procurement service CaPS has expanded to the Baltcis and investor reporting and analytics company JAY Solutions demonstrated continued strong growth of its customer base. We are also launching a new strategy and wealth advisory operations for the CapMan Wealth Services business. These new initiatives will help build a stronger Service business starting from next year when we also expect growth in transaction-based services. The Service business operating profit was MEUR 4.1 in January–September 2020.

Fair value changes of our own investments form a significant portion of CapMan’s results and account for variability in our earnings model to a large extent. Our reported fair values increased by MEUR 2.6 in the third quarter of the year as valuations continued to correct upward for the second quarter in a row following the steep decline in the early spring. The decrease in fair value of our own investments was as such MEUR 2.6 for the first nine months of the year.

Despite the disturbance brought on by the Covid-19 pandemic, we have successfully maintained our course in developing and growing our business. Results have developed in the right direction in the latest two quarters, fee-based profitability is at a good level and our recurring income grows steadily. Measures taken now build earnings growth for the coming years, including carried interest and return from own investments. Our objective is to pay an annually increasing dividend to our shareholders.”

Financial objectives

CapMan’s objective is to pay an annually increasing dividend to its shareholders.

The combined growth objective for the Management Company and Service businesses is more than 10 per cent p.a. on average. The objective for return on equity is more than 20 per cent p.a. on average. CapMan’s equity ratio target is more than 60 per cent.

CapMan maintains its outlook estimate for 2020

CapMan expects to achieve these financial objectives gradually and key figures are expected to show fluctuation on an annual basis considering the nature of the business. CapMan expects management fees and fees from services to continue growing in aggregate in 2020. Our objective is to improve the aggregate profitability of Management Company and Service businesses before carried interest income and any possible items affecting comparability.

Carried interest income from funds managed by CapMan and the return on CapMan’s investments have a substantial impact on CapMan’s overall result. In addition to portfolio company and asset-specific development and exits from portfolio companies and assets, various factors outside of the portfolio’s and CapMan’s control influence fair value development of CapMan’s overall investments as well as the magnitude and timing of carried interest.

CapMan’s objective is to improve results in the longer term, taking into consideration annual fluctuations related to the nature of the business. For these and other above-mentioned reasons, CapMan does not provide numeric estimates for 2020.

Items affecting comparability are described in the Tables section of this report.

Key figures

MEUR 1-9/20 1-9/19
Operating loss (profit) 2.6 16.0
Items affecting comparability
Acquisition related costs 1.1
Donations 0.3
Items affecting comparability, total 1.4
Adjusted operating loss (profit) 2.6 17.4
Result for the period -0.9 12.3
Items affecting comparability
Acquisition related costs 1.0
Donations 0.3
Items affecting comparability, total 1.3
Adjusted result for the period -0.9 13.6
Earnings per share, cents -1.1 6.9
Items affecting comparability, cents 0.8
Adjusted earnings per share, cents -1.1 7.7
Earnings per share, diluted, cents -1.1 6.8
Items affecting comparability, cents 0.8
Adjusted earnings per share, diluted, cents -1.1 7.6
% 30.9.20 30.9.19
Return on equity, % -1.1 13.3
Return on equity, comparable, % -1.1 14.8
Equity ratio, % 52.0 59.9

Result webcast today at 10.00 a.m. EET

CapMan’s management will present the result for the review period in a webcast to be held at 10.00 a.m. EET. Please access the webcast at https://capman.videosync.fi/2020-q3-results. The conference will be held in English. A replay of the webcast will be available on the company’s website after the event. Due to the ongoing Covid-19 pandemic, CapMan will not arrange an in-person conference.

Helsinki, 29 October 2020

CAPMAN PLC
Board of Directors

Further information:
Niko Haavisto, CFO, CapMan Plc, tel. +358 50 465 4125

Distribution:
Nasdaq Helsinki Ltd
Principal media
www.capman.com

Appendix: CapMan Plc 1–9 2020 Interim Report

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 €3.5 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 around 150 people in Helsinki, Stockholm, Copenhagen, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com.

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CapMan Infra assets under management increase to MEUR 400

CapMan Infra press release
29 October 2020 at 8:45 a.m. EET

CapMan Infra assets under management increase to MEUR 400

CapMan Infra has broadened and internationalised its investor base through a syndicated transaction in one of its portfolio companies and additional commitments closed in CapMan Nordic Infrastructure I (the “Fund”). Total assets under management for CapMan Infra have increased to approx. MEUR 400 and the investor base has become distinctly global with nearly half of the capital coming outside of the Nordic countries from Europe, North America and Asia.

CapMan Infra successfully attracted approx. MEUR 50 of new co-investment capital from three international institutional investors for this syndication of its investment in Norled, an operator of ferries and express boats in Norway. The investment, the Fund’s first seed asset, closed in July 2019, when CapMan acquired a 50 per cent stake in Norled in a consortium with CBRE Caledon. CapMan Infra continues to manage the asset on behalf of the co-investors and the Fund.

“We are delighted to welcome international blue-chip institutional investors as co-investors in Norled, where we are driving the green shift of the Norwegian ferry sector. Sustainability is a key theme throughout our investment process from due diligence and investment selection to active value creation, and we seek to set objectives and measure our achievements. As an example, Norled plans to decrease its CO2 emissions by 75 per cent by 2029 through the introduction of reduced emission vessels,” says Ville Poukka, Managing Partner of CapMan Infra.

The Fund reached a final close at approx. MEUR 190, securing commitments from a diverse group of LPs including SWEN Capital Partners, Ilmarinen Mutual Pension Insurance Company, The Church Pension Fund and Tradeka Invest Ltd amongst others. The Fund invests in mid-sized core and core+ infrastructure assets in the energy, transportation and telecom sectors across the Nordics.

To date, some 70 per cent of the Fund capital raised has been committed to four investments. In addition to Norled, the Fund has invested in Nydalen Energi, a provider of environmentally friendly district heating and cooling in Oslo, Loviisan Lämpö, a provider of environmentally friendly district heating in Southern Finland, and Valokuitunen, a fibre-to-the-home platform in Finland. The CapMan Infra team also manages two investment mandates – an onshore windfarm in Sweden and an investment stake in an electricity distribution company in Finland – on behalf of institutional investors.

“Since the establishment of CapMan Infra three years ago we have built a strong local Nordic team, raised two investment mandates, closed our first Nordic mid-cap infrastructure fund and invested in six attractive transactions that have performed in line with original expectations despite the challenging current environment. We are pleased that our investment strategy generated significant interest both locally and internationally resulting in a supportive and global investor base, and that we have demonstrated flexibility in finding suitable investment solutions to serve the needs of different types of investors and investment horizons. We thank our investors for their trust,” continues Poukka.

“We are very pleased with what we have achieved so far in the Nordic mid-cap infrastructure space and believe we have built strong foundation for future growth,” says Joakim Frimodig, CEO of CapMan Plc.

CapMan Infra was established in 2017 and has a team of nine professionals based in Helsinki and Stockholm.

For additional information, please contact:
Ville Poukka, Managing Partner, CapMan Infra, p. +358 50 572 9120

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 €3.5 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 around 150 people in Helsinki, Stockholm, Copenhagen, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. For additional information about CapMan Infra, visit www.capman.com/infra

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KKR Launches Renewable Energy Platform Virescent Infrastructure in India

KKR

October 29, 2020

New platform to own and operate a diversified portfolio of renewable assets in India

MUMBAI, India–(BUSINESS WIRE)– Global investment firm KKR today announced the launch of Virescent Infrastructure (“Virescent” or the “Company”), a newly created platform to acquire renewable energy assets in India.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201029006392/en/

Headquartered in Mumbai, Virescent aims to expand its diversified portfolio of operational renewable energy assets, facilitated by investments predominantly made through KKR’s infrastructure fund. Virescent looks to identify investment opportunities that have stable cash flows stemming from long-term contracts with state and central government counterparties across India.

Virescent currently owns 317MWp of solar assets located in Maharashtra and Tamil Nadu. KKR has also entered into definitive agreements to acquire other operating solar projects across three different states. Once closed, these projects will also become part of the Virescent platform.

Virescent’s launch comes as renewables are expected to become an increasingly important energy source for citizens across India. Renewable energy is estimated to comprise approximately 60% of India’s installed power capacity by 2030, from around 24% at present, according to India’s Ministry of Power and New & Renewable Energy.

Hardik Shah, a Managing Director on KKR’s Infrastructure team, said, “The launch of Virescent is a meaningful milestone for KKR’s Asia Pacific infrastructure strategy amid India’s ambitions to install 175GW of renewable energy capacity by 2022 and 450GW by 2030. We look forward to playing a part in meeting these goals and supporting the Government’s Green Energy Corridor initiative through our investment in Virescent.”

Virescent is led by CEO Sanjay Grewal, who brings to the Company more than 30 years of experience in the Indian and global infrastructure sector. He will be responsible for identifying, planning, and executing investment opportunities for Virescent.

Mr. Grewal said, “Positive government initiatives have created a number of long-term investment opportunities in India’s rapidly transforming renewable energy sector. We are thrilled that Virescent will seek to invest in many of these great opportunities, in addition to achieving stable returns by acquiring high-quality, low-risk, and income-yielding assets with stable and long-term cashflows. I am truly excited to be part of this dynamic industry and for the chance to enhance KKR’s infrastructure strategy by building Virescent’s renewables portfolio.”

KKR takes a flexible approach to infrastructure investment in Asia Pacific, and combines the capabilities of its local teams in Asia Pacific with the Firm’s global industry and operational expertise to add value to companies. Today, KKR’s global infrastructure portfolio spans sectors such as energy, transportation, telecom, oil and gas, and water. Renewable energy represents a key vertical within KKR’s infrastructure strategy, having invested in renewable energy businesses with more than 10,000 MW of total operational capacity.

Virescent additionally deepens KKR’s presence in the Indian market. KKR has been investing in India since 2006, and has since honed its strategy to combine KKR’s global network with the local team’s market knowledge and investment expertise. Today, KKR aims to be a patient capital provider able to help bring flexible financial solutions to meet the needs of India’s private and public sectors. The Firm is extensively engaged in the operations and strategies of its portfolio companies across asset classes, including infrastructure, private equity and credit, to corporations and real estate businesses. KKR’s recently announced investments across asset classes includes, but is not limited to, Reliance Jio, Reliance Retail, IndiGrid, JB Chemicals, Max Healthcare and Ramky Envirotech.

About Virescent Infrastructure

Virescent Infrastructure (Virescent) is a renewable energy company in India. Headquartered in Mumbai, Virescent will expand its diversified portfolio of operational renewable energy assets by identifying investment opportunities that have stable cash flows stemming from long-term contracts with state and central government counterparties across India.

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:

Prose Integrated (For Virescent Infrastructure)
Shirley C Dsilva
+91 9870060007
shirley@proseintegrated.com
media@virescent.co.in

For KKR:
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

Source: KKR & Co. Inc.

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Providence Strategic Growth Europe Agrees to Invest in Signaturit

Providence

October 28, 2020

Providence Strategic Growth Europe Signs Majority Investment in Leading Spanish SaaS Trust Service Provider Signaturit

  • Investment aims to fuel Signaturit’s continued growth and accelerate European expansion
  • Traditionally fragmented market with fast growth potential supported by strong industry tailwinds

BARCELONA & LONDON – October 28, 2020 – Providence Strategic Growth (“PSG”), the growth equity affiliate of premier asset management firm Providence Equity Partners (“Providence”), today announced signing of a majority investment by funds managed by PSG in Signaturit Solutions (“Signaturit” or the “Company”), a leading provider of cloud-based Trust Services that offers eSignature, eDelivery and eID solutions, and is headquartered in Barcelona, Spain. Financial terms were not disclosed.

Signaturit was founded in 2013 and is now one of the leading Trust Service software vendors in Southern Europe. Its technology platform provides a SaaS-based solution that allows customers to send and sign documents legally and seamlessly. The Company has also developed other major trust services to cover adjacent parts of the digital signature process: eDelivery, which certifies the delivery of the entire electronic signature procedure; and eID, which offers secure authentication of the person before signing a document.

The deal, which is subject to regulatory clearance, builds on Signaturit’s successful trajectory. Since its inception, the Company has raised more than €10 million in pre-seed and series A funding, both from Spanish and international investors. PSG’s European team will support Signaturit’s next phase of growth, including product diversification, geographic expansion and strategic M&A opportunities. Signaturit’s founders maintain their shareholding with Co-Founder and CEO Juan Zamora continuing to lead day-to-day operations and Signaturit’s team of 100 employees.

“The Signaturit team has built an outstanding business in a market that is expected to surge in the next five years and we believe is consequently poised for success,” said Dany Rammal, Managing Director at PSG.

“Signaturit’s scalable technology platform and understanding of their customers’ needs has led them to develop an innovative integrated solution that positions the Company at the forefront of electronic digital security and identity verification,” said Romain Railhac, Director at PSG.

Juan Zamora, Co-Founder and CEO, commented: “Signaturit was founded to help bring the signing processes of multinationals and SMEs into the 21st century. We are a team with clear global ambition and are delighted to have entered into this partnership with PSG, which has a strong track record of supporting SaaS companies. Their investment positions us for future growth while enabling us to continue providing exceptional service to our many customers.”

Signaturit currently helps more than 2,500 organizations, including renowned international brands – such as Manpower, AXA, Admiral Insurance, EY, Decathlon, and Vorwerk – to manage their digital security and identity and facilitate the request and realization of electronic signatures quickly, safely and with full legal validity, and has helped its customer base to request and receive 38 million signatures through its platform. Among the many accolades that it has received over the years, Signaturit was selected to participate in the EU’s Horizon2020 program, an endorsement of its top-class capabilities in the e-Signature and electronic Trust Services space.

About Signaturit
Signaturit is a Qualified Trust Service Provider that offers innovative cloud-based solutions in the field of Electronic Signatures (eSignatures), Certified Registered Delivery (eDelivery) and Electronic Identification (eID) to digitise any transaction between companies and individuals, securely and with full legal compliance. Founded in 2013, the company serves over 2,500 customers in more than 40 countries and has completed over 38 million signatures on its platform. Signaturit’s Trust Services optimise the signature process enabling customers to reduce paper consumption, improve their billing and hiring processes and provide their teams with a tool that helps them to streamline their administrative tasks related to document signing. For more information on Signaturit, please visit https://www.signaturit.com/en.

About Providence Strategic Growth
PSG is an affiliate of Providence Equity Partners (“Providence”). Established in 2014, PSG focuses on growth equity investments in lower middle market software and technology-enabled service companies. Providence is a premier global asset management firm that pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm’s inception in 1989, Providence has invested in more than 200 companies and is a leading equity investment firm focused on the media, communications, education, software and services industries. PSG is headquartered in Boston, MA, with offices in London and Kansas City. For more information on PSG, please visit https://www.provequity.com/private-equity/psg, and for more information on Providence, please visit https://www.provequity.com.

Media Contacts

Providence Strategic Growth
Sard Verbinnen & Co.
Rory King
Prov-SVC@sardverb.com

Signaturit
Roman
Lourdes Carmona and Iván Carballido
l.carmona@romanrm.com
i.carballido@romanrm.com

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DoubleVerify Announces $350 Million Investment from Group Led by Tiger Global Management

Providence

October 28, 2020

DoubleVerify Announces $350 Million Investment from Group Led by Tiger Global Management

New Investor Group Includes Fidelity, BlackRock, and Neuberger Berman; Providence to Remain Majority Investor

NEW YORK, Oct. 28, 2020 (GLOBE NEWSWIRE) — DoubleVerify (“DV”, the “Company”), a leading software platform for digital media measurement and analytics, today announced an agreement for a $350 million investment from an investor group led by Tiger Global Management (“Tiger”). Fidelity Management & Research Company LLC also participated in the round, together with funds and accounts managed by BlackRock, and funds advised by Neuberger Berman Investment Advisers LLC, among others. Providence Equity Partners (“Providence”), which invested in DoubleVerify in 2017, remains the majority investor.

The new investment will primarily be used to purchase shares from existing shareholders and a portion will be used to support continued growth in the business. The backing from the new investor group comes as DoubleVerify continues to innovate and invest in new growth areas including media performance optimization and Connected TV analytics.

“The support of these high caliber investors speaks to DoubleVerify’s momentum, including new customer growth, product innovation and global expansion,” said Mark Zagorski, Chief Executive Officer of DoubleVerify.

“We look forward to partnering with Mark and the entire DoubleVerify management team as the Company continues the growth of its business globally,” said John Curtius, Partner, Tiger Global.

“The DoubleVerify team has consistently executed across all levels of the business,” added Davis Noell, Senior Managing Director at Providence and Chairman of the Board at DoubleVerify. “We welcome the investment by Tiger and these other premier investment firms, and we are excited to continue to support the Company.”

DoubleVerify expects the new investment round to close in the fourth quarter of 2020. Earlier this month, the Company also refinanced its credit facility and entered into a new $150 million revolving credit facility, led by Capital One, N.A., of which only a portion is currently outstanding prior to the closing of this transaction.

J.P. Morgan and Goldman Sachs & Co. LLC acted as Joint Placement Agents on behalf of the Company and Providence.

About DoubleVerify
DoubleVerify is a leading software platform for digital media measurement, data, and analytics. DV’s mission is to be the definitive source of transparency and data-driven insights into the quality and effectiveness of digital advertising for the world’s largest brands, publishers, and digital ad platforms. DV’s technology platform provides advertisers with consistent and unbiased data and analytics that can be used to optimize the quality and return on digital ad investments. Since 2008, DV has helped hundreds of Fortune 500 companies gain the most from their media spend by delivering best in class solutions across the digital advertising ecosystem, helping to build a better industry. Learn more at www.DoubleVerify.com.

About Tiger Global Management
Tiger Global Management, LLC is an investment firm that deploys capital globally. The firm’s fundamentally oriented investments focus primarily on the global internet, software, financial technology, consumer and industrial sectors. The private equity strategy has a ten-year investment horizon and targets growth-oriented private companies. Such investments have included Spotify, Harry’s, Warby Parker, Peloton, JD.com, Facebook, LinkedIn, Yandex, Mail.ru Group, Despegar, Ola and Flipkart. The public equity efforts emphasize deep due diligence on individual companies and long-term secular themes. Tiger Global Management, LLC, was founded in 2001 and is based in New York with affiliate offices in Hong Kong, Singapore, Bangalore and Melbourne.

About Providence Equity Partners
Providence is a premier global private equity firm with more than $49 billion in capital under management. Providence pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm’s inception in 1989, Providence has invested in more than 200 companies and is a leading equity investment firm focused on the media, communications, education, software and services industries. Providence is headquartered in Providence, RI, and also has offices in New York and London. For more information, please visit www.provequity.com.

Media Contacts

DoubleVerify
Chris Harihar
Crenshaw Communications
chris@crenshawcomm.com

Providence Equity Partners
Andrew Cole / Hayley Cook / Kate Gorgi
Sard Verbinnen & Co
prov-svc@sardverb.com

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Privitar Announces New Integration with AWS Outposts

IQ Capital

LONDON & BOSTON–(BUSINESS WIRE)–Privitar, the leading data privacy platform provider, has announced a new integration with Amazon Web Services (AWS) Outposts that enables organizations to safely use sensitive data for analytics in the hybrid cloud. Through the integration, customers can leverage AWS native services in Outposts to easily deploy the Privitar Data Privacy Platform™ in both on-premise and cloud environments, then scale the solution as their data needs grow and evolve.

“The integration between Privitar and AWS Outpost takes a best practice approach to safely enabling sensitive data for analytics and provides a truly hybrid experience,” said Steven Totman, Privitar’s Chief Product Officer. “The integration makes it easy for organizations to protect the privacy of sensitive data in their own data centers while preserving its analytical utility, then safely shift the protected data into the cloud while complying with data privacy and data residency regulations. By applying privacy protections to the data whenever it is needed, Privitar is accelerating access to protected data and democratizing data usage for insights and analytics.”

AWS Outposts provides the benefit of cloud services in on premise data centers, extending AWS infrastructures, APIs and toolsets into on-premises and hybrid cloud workloads for smoother migrations and better performance outcomes, closer to home. Privitar’s powerful data privacy platform enables businesses to analyze their potentially sensitive data, use that data to gain valuable insights, and support data-driven decisions, while keeping that data safe at the same time.

The integration between Privitar and AWS Outposts increases the agility of sensitive data, optimizes its analytical value, reduces associated risks, and supports compliance requirements. This is of particular value to organizations that handle large quantities of personal or otherwise sensitive information (e.g. financial services, insurance, healthcare, telecommunications). Rather than locking sensitive data away and treating it as a liability, customers can protect their data by baking privacy in so they can take full advantage of AWS analytics and machine learning tools, deriving value as they leverage sensitive data as an asset.

Privitar’s privacy protections are applied to customer data in AWS Outposts, so raw sensitive data doesn’t leave their data center, and they remain in compliance with data privacy and sovereignty regulations. In addition, protected data sets are digitally watermarked with traceable and auditable metadata.

Privitar is an Advanced Technology Partner in the AWS Partner Network (APN), has achieved AWS Competencies in “Security” and “Data and Analytics,” and is featured in the AWS Marketplace.

For more information about Privitar’s partnership with AWS, visit: https://www.privitar.com/partners/aws.

For more information about the integration between Privitar and AWS Outposts, visit https://www.privitar.com/resources/aws-outposts-privitar.

About Privitar
Organizations worldwide rely on Privitar to realize the promise of one of their most valuable assets – safe, usable data.

Privitar empowers organizations to use sensitive data to gain valuable insights, and to support data-driven decisions. By delivering comprehensive data privacy techniques and streamlining data provisioning, Privitar enables enterprises to extract the maximum value from the data they collect, manage and use, while minimizing risk.

Founded in 2014, Privitar is headquartered in London, with regional headquarters in Boston and Singapore, a development center in Warsaw, and sales and services locations throughout the US and Europe. For more information, please visit www.privitar.com.

Originally published on Business Wire.

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Nordstjernan acquires additional shares in Momentum Group

Nordstjernan

THIS PRESS RELEASE IS NOT A PUBLIC OFFER OR AN OFFER TO ACQUIRE SHARES

Nordstjernan Aktiebolag (“Nordstjernan”) has today acquired 1 share of series B in Momentum Group AB (publ) (“Momentum Group”) for SEK 120 per share. Following the acquisition, Nordstjernan owns 495 848 shares of series A and 25 901 138 shares of series B in Momentum Group. Accordingly, Nordstjernan’s shareholding represents approximately 51.9 per cent of all shares and 51.0 per cent of all votes in Momentum Group.

The acquisition of additional shares in Momentum Group means that Nordstjernan, pursuant to the Swedish Act on Public Takeovers on the Stock Market (Sw. lagen (2006:451) om offentliga uppköpserbjudanden på aktiemarknaden) as well as the Swedish Securities Council’s rulings AMN 2019:42 and AMN 2020:14, is obliged to within four weeks make a public offer to acquire the remaining shares in Momentum Group (a so-called mandatory public offer) unless Nordstjernan within this four week period sells such number of shares that its shareholding represents less than three tenths of the voting rights for all shares in Momentum Group.

Nordstjernan’s intention is to fulfil its obligation to make a mandatory public offer and will announce this by way of a separate press release.

Further information

Nordstjernan submitted this press release for publication at 18:00 CET on October 28, 2020.

Peter Hofvenstam
President and CEO
Nordstjernan AB

Questions will be answered by:

Peter Hofvenstam, CEO, Nordstjernan
E-mail: peter.hofvenstam@nordstjernan.se

Stefan Stern, Head of Communications, Nordstjernan
Telephone: +46 70 636 74 17
E-mail: stefan.stern@nordstjernan.se

Nordstjernan is a family-controlled investment company whose business concept is to be an active owner that creates long-term value growth. More information about Nordstjernan can be found on www.nordstjernan.se.

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TZP Group Named to Inc.’s 2020 List of “The 50 Best Private Equity Firms for Entrepreneurs and Founders”

TZP Group

TZP Group, a multi-strategy private equity firm focused on the lower-middle market, announced today that it was named to Inc.’s “50 Best Private Equity Firms for Entrepreneurs.” TZP seeks to invest primarily in closely-held, private companies in which the owners desire to retain a significant stake and partner with an investor with complementary operating and financial skills to accelerate company growth, increase profitability, and maximize the value of their retained stake. This recognition underscores TZP’s commitment to being a “Partner of Choice” for owners and management teams.

Introduced in 2019, the 50 Founder-Friendly Private Equity Firms list has become a go-to guide for entrepreneurs who want to grow their companies while retaining an ownership stake. To compile the list, Inc. went straight to the source: entrepreneurs who have sold to private equity. Founders filled out a questionnaire about their experiences partnering with private equity firms and shared data on how their portfolio companies have grown during these partnerships.

“We are very proud of our people and the culture that has built TZP’s reputation as a Partner of Choice and are thankful to the many founders and entrepreneurs who have entrusted us as their partners,” said Sam Katz, Managing Partner of TZP Group.
“I get the chance to interact with many entrepreneurs who have relentless drive and want to build a business that fixes problems, improves a process, or makes the world a better place. But to do that, it often takes the backing from a private equity firm that will provide more than just financial backing. It takes wholeheartedly supporting that vision and treating the founders like partners,” says, Scott Omelianuk, editor-in-chief of Inc. media.

In addition, Inc. profiled TZP’s partnership with Jenny Zhu, founder of Triangle Home Fashions. The profile highlights the value-added nature of TZP’s partnership and the resulting growth achieved at the company. “TZP has been a great partner for me and my team,” said Ms. Zhu. “They have contributed in all of the areas that they said they would and invested in the tools and resources to help my company scale.”
Full Article: https://www.inc.com/magazine/202011/graham-winfrey/founder-friendly-private-equity-firms-2020.html
Jenny Zhu Profile: https://www.inc.com/magazine/202011/joe-bargmann/triangle-home-fashions-tzp-group-private-equity-2020.html

About TZP Group
TZP Group, a private equity firm with $1.7 billion raised since inception across its family of funds including TZP Capital Partners, TZP Small Cap Partners and TZP Strategies, is focused on control, growth equity and structured capital investments in business services and consumer companies. Founded in 2007, TZP targets companies with solid historical performance and sustainable value propositions and aims to be a “Partner of Choice” for business owners and management teams. TZP seeks to invest primarily in closely-held, private companies in which the owners desire to retain a significant stake and partner with an investor with complementary operating and financial skills to accelerate company growth, increase profitability, and maximize the value of their retained stake. TZP leverages its investment professionals’ operating and investment experience to provide strategic and operational guidance and is dedicated to long-term value creation.

For more information, please visit www.tzpgroup.com.
For more media inquiries please contact: Dan Gaspar, Partner | dgaspar@tzpgroup.com

About Inc.
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community they need to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.

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Lexitas announces acquisition of Registered Agent Solutions Inc.

Apax

Enhances Lexitas’ offering to customers with strong service line expansion 

Houston, October 28, 2020 – Lexitas, a leading provider of high-quality services to the legal market, today announced that it has agreed to acquire Registered Agent Solutions Inc. (“RASi”), a leading U.S. provider of outsourced Registered Agent and corporate compliance services.

The acquisition will significantly enhance Lexitas’ service line, offering existing and potential customers access to Registered Agent representation, a requirement for businesses under nearly all U.S. state laws, as well as corporate compliance services, such as annual report filing, on a subscription basis.

In conjunction with the transaction, funds advised by Apax Partners, which acquired Lexitas in 2019, have committed additional capital to Lexitas to fund the acquisition of RASi. Terms of the transaction were not disclosed.

Founded in 1987, Lexitas is a leading national provider of legal support services to law firms and insurance companies in the U.S. and today its national sales force serves over 10,000 customers across 38 offices. The company has experienced significant growth in recent years and in the last year alone it completed six acquisitions, including Axiom Requisition and Lumen Legal.

RASi, which will be Lexitas’ seventh acquisition, is a leading middle-market registered agent service company, offering innovative technologies, competitive pricing and quality legal services. Founded by Sean Prewitt and Ricardo Orozco in 2002, RASi has grown rapidly and today the company has a presence in all 50 States, the District of Columbia and international jurisdictions, representing companies and law firms across the U.S. RASi’s subscription model provides a strong revenue trajectory and will add significant value to Lexitas’ existing service offering.

Gary Buckland, CEO of Lexitas, stated, “We are extremely excited and fortunate to have RASi become a part of Lexitas. Sean Prewitt and his team have built a company that has experienced dynamic growth and become a national market leader, fueled by its dedicated employees, technology, and unflagging dedication to providing outstanding services.”

Sean Prewitt, CEO of RASi, stated, “We are elated to be joining the family of Lexitas companies, which align with our commitment to both clients and employees, in providing a one stop legal services solution to both corporations and law firms.”

Ashish Karandikar, Partner at Apax Partners, said, “I am thrilled to see Sean and his team at RASi join forces with Lexitas, creating a company that can offer a full service value proposition to law firms and corporate customers in the U.S. Since we first partnered with Lexitas in 2019, the business has expanded rapidly through six acquisitions. By integrating RASi and adding a Registered Agent solution to its already comprehensive service line, Lexitas will be poised to excel and provide an even better service to customers.”

RASi was advised by Houlihan Lokey (financial adviser).

About Lexitas 

Founded in 1987, Lexitas is a leading national provider of legal support services to law firms, corporations, third-party administrators, and insurance companies. Services include medical record retrieval, court reporting, registered agent, legal staffing, document review and commercial contracts outsourcing. For more information visit https://lexitaslegal.com.

About RASi

Registered Agent Solutions, Inc. (RASi) is an innovative leader in the Registered Agent and transactional service industry.  RASi has provided quality corporate services to organizations small and large throughout the United States and internationally. RASi is the best value for registered agent and corporate services. For more information visit: www.rasi.com

About Apax Partners

Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of approximately $50 billion. The Apax Funds invest in companies across four global sectors of Healthcare, Tech & Telco, Services, and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

Media Contacts

For Lexitas

Brenda Keith | +1 700-704-1184| brenda.keith@lexitaslegal.com

For Apax Partners

Katarina Sallerfors | +44 207 872 6526 | katarina.sallerfors@apax.com

Todd Fogarty, Kekst CNC | +1 212 521 4854 | todd.fogarty@kekstcnc.com

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