UK-based Moteefe secures £8 million credit facility from Espresso Capital

espresso capital

London — November 23, 2021 — Espresso Capital announced today that it has provided London-based Moteefe, the ecommerce platform providing infrastructure, customization, and global fulfillment for retailers of all sizes, with an £8 million credit facility. The company will use the capital to further enhance its platform and make strategic investments in its sales and marketing.

“With this non-dilutive financing from Espresso, we’re able to accelerate our efforts to expand our offerings, bringing best-in-class, print-on-demand enterprise solutions to market,” says Mathijs Eefting, CEO of Moteefe. “The next generation of our platform will be more agile and API led, enabling a variety of new expansion opportunities.”

Moteefe has developed a unique fully integrated supply chain platform leveraging leading on-demand suppliers worldwide to provide a wide variety of customized products. On-demand ecommerce has seen tremendous growth in recent years, with larger retailers becoming increasingly interested in the space. Moteefe’s end-to-end ecommerce platform enables anyone to set up an online store or offer customized products on their own site in minutes.

“We’re pleased to be able to provide Moteefe with the capital they need to accelerate their efforts to bring a leading enterprise print-on-demand solution to market,” says Espresso Managing Director Will Hutchins. “Mathijs and his team have a differentiated platform, are well-placed to capitalize on prevailing market trends toward customization and sustainability, and are backed by leading investors.”

“Working with Espresso is about more than just accessing capital,” notes Eefting. “In a very short period of time, we’ve developed strong relationships with the team there. It already feels like we’ve added a true partner to the business.”

Moteefe’s existing investors include BGF, Force Over Mass Capital, and Gresham House.

About Moteefe

Moteefe, founded in 2015, enables brands and retailers of all sizes to offer unique and personalised merchandisable products within minutes. It is the only technology enabled end-to-end e-commerce solution to manage the entire production and fulfilment of high quality, on demand, customised products globally. Every order is produced and routed as close to the end-consumer as possible for cost and carbon reduction. With offices in London, Lisbon and Hanoi, and 20 fulfilment partners around the world, Moteefe is a Deloitte Technology Fast 50 and Technology Fast 500 EMEA company.

About Espresso Capital

Espresso empowers companies with innovative venture debt solutions. Since 2009, we’ve helped more than 300 technology companies and their investors accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital. Learn more at

Media contact

Kevin Cain
Head of Marketing, Espresso Capital

Categories: News


Eurazeo signs an agreement to invest in Neoxam, a provider of front-office, middle-office and back-office software for financial institutions


Eurazeo, via its Small-Mid Buyout team is today announcing the signature of an agreement with a view to investing in NeoXam, alongside its founder Serge Delpla and its management team led by Florent Fabre.

Under the agreement, Eurazeo would invest more than €100 million, thus becoming the group’s majority shareholder. Historical partners (led by Cathay Capital and BPI), shareholders since 2018, would sell their share in this occasion.

NeoXam was created in 2014 following a carve-out from Sungard and a series of acquisitions adding complementary solutions. It now has 550 employees, of which half in R&D, across 15 offices worldwide. The company provides “data-centric” solutions used by more than 120 clients – large asset managers, financial institutions, and global banks – to structure their IT systems. NeoXam solutions cover everything from Front Office (Portfolio Management System) to Back and Middle Office, accounting (NAV) and regulatory and client reporting teams. Clients on all continents – in Europe, the US, Canada and Asia, particularly Singapore and mainland China – have chosen NeoXam for its functional and technological expertise.

Over the last four years, NeoXam has deployed its global growth strategy while also developing its business model. It has transitioned away from upfront licences to SaaS subscriptions, which now account for more than half of its revenue (€75 million) and make the company highly resilient.

Through its investment plan, Eurazeo is willing to support NeoXam in continuing ramping up growth, particularly in the Data Management and Reporting segments, and expanding internationally (particularly in Asia, the UK and US). Eurazeo also plans to provide NeoXam with its internal resources, helping NeoXam to pursue its buy-and-build strategy to complement its range of services and client base, and to accelerate its international expansion.

To achieve this, Eurazeo would give NeoXam access to its global network and expertise in developing businesses throughout their growth phase, in order to strengthen the global leading position of this asset management solution provider.

Serge Delpla, founder of NeoXam, said:

“With Eurazeo’s support, NeoXam could add a new dimension to its international growth strategy. Our products, which are used by most of the global top 20 asset managers in locations such as NY, London and Singapore, have proven their value as extraordinarily useful tools, particularly in the rapidly developing fields of Data Management and Reporting. Eurazeo would be an ideal partner, combining extensive investment capabilities, an exceptional international network and a rare understanding of the entrepreneurs it supports. We hope to enter into a partnership in the very near future, to enable NeoXam to reach its full potential.”

Florent Fabre, Managing Director of NeoXam, added:

“We are confident that Eurazeo is the best partner to accompany NeoXam in the next chapter of our story. On top of all the resources that Eurazeo can offer, its teams share with us the same human and entrepreneurial essential values, which will help us to work together to complete the next phase of our growth strategy. We will more than ever focus on the continuous investment in our solutions, client satisfaction and our workforce fulfilment.”

Pierre Meignen, Managing Director of Eurazeo’s Small-Mid Buyout team, said:

“The opportunity to work alongside NeoXam fits perfectly with our investment strategy. The company has an extremely resilient business, its core business areas displaying growth over 20% p.a. Its strong global presence will help boost growth and its teams are immensely talented.”

Categories: News


Lutech, backed by the Apax Funds, enters into exclusive negotiations to acquire Atos Italia S.p.A., creating a new leader in digital transformation


Lutech, an IT services, software and technology company in Italy and other parts of Europe, and a portfolio company of funds advised by Apax Partners LLP (“Apax Funds”), today announced it has entered into exclusive negotiations with Atos Group to acquire Atos Italia S.p.A.[1] (“Atos Italia”).

Operating across 6 diversified verticals, and servicing major Italian companies, Atos Italy has built a very solid franchise and benefits from a strong reputation in the IT services market, with a total of approximately 1,600 skilled employees in over 5 sites across the country.

Following the acquisition of Lutech by the Apax Funds in 2021, this transaction is an important step towards creating a market leader in the rapidly evolving digital transformation sector. This combination will help drive increased scale, strengthen Lutech and Atos Italia’s offering by adding complementary expertise, while also bolstering their presence in strategic sectors. The integration between the two companies will take place gradually, ensuring business continuity and high level of customer service and support.

“This is an important announcement that brings together two major players in the Italian IT market”, announced Tullio Pirovano, CEO of the Lutech Group. “Today’s news is a fundamental step towards achieving our goal, in partnership with Apax, of creating a leading Italian company in the digital transformation space. This transaction brings together two cutting-edge companies, combining our skills and cultures and consolidating our leadership position as an end-to-end player in the digital market.”

Gabriele Cipparrone, Partner at Apax, added: “We are proud to partner with Lutech in this transaction. When the Apax Funds first invested in Lutech we saw the opportunity to consolidate the Italian IT services market, and this transaction is a crucial step in that process. By combining the complementary scale, expertise, and capabilities of Lutech and Atos Italia into one group, we are creating a leading provider in the market that can offer an even wider suite of products and services to clients across a more diversified set of sectors. We are excited to partner with both teams to deliver on our ambitious growth plans.”

“A new leading company will be born to enhance the country’s digital growth and support our customers.” declared Giuseppe Di Franco, President and CEO of Atos Italia. “The entire management team is proud to announce that today we have taken a further step in the consolidation of the Italian digital market. The new company will benefit from continued cooperation with the Atos Group to manage global operations in Italy and abroad. We will be able to use the combined skills of Atos Italia and Lutech, and our complementarity will allow us to better serve companies in their digital transformation journeys.”

Lutech and Apax Partners LLP were supported by several advisors, including Bain & Company (commercial advisor), Legance (legal advisor), PCB Partners (M&A advisor), and PWC (financial and tax advisor).

The transaction is subject to the consultation with representative bodies and other regulatory approvals, with closing expected in H1 2023.



Lutech Group

Lutech Group, Italian leader and European player in ICT services and solutions, supports the evolution of its clients by designing, implementing and managing end-to-end digital solutions, with a view towards continuous improvement which involves people and processes, technology and knowledge.

Evolution and transformation require a new way of interacting and connecting people, data and technologies. Lutech Group places at the foundation of the Digital Evolution five technological core entities designed to provide a complete and integrated offering, able to meet the manifold needs of digitization: LutechSolutions, LutechDigital, LutechCybersecurity, LutechServices and LutechCloud.

For more information, visit

About Apax

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit


[1] The transaction will not include Atos Italia’s UCC operations and EuroHPC’s contracts.

Categories: News


Pelico raises 18.5 million euros to become te operating management system for manufacturers


Pelico, the factory operations SaaS platform that empowers manufacturers to deal with rising levels of complexity and volatility in their operations, today announced that it has raised $18M led by 83North and Serena with participation from La Famiglia & ISAI as well as multiple business angels such as Adrien Nussenbaum (Mirakl), Carsten Thoma (Hybris), Bastian Nominacher (Celonis)… This new fund will give the opportunity to Pelico to grow its team, significantly invest in its technology and expand its presence internationally.

Helping manufacturers deal with complex & volatile supply chains

Supply chain and manufacturing have become more complex than ever, with volatile demand, fragmented supply chains and an increasing complexity in products. Because operational context changes faster than the teams’ ability to plan, those teams spend their time firefighting these unplanned disruptions. This puts at risk revenue as sales are delayed, and margins as last minute solutions are costly. Pelico acts as an operations management system for factory teams. It empowers factory teams to:

  • continuously anticipate material availability issues,

  • act fast with AI-assisted recommendations and simulations,

  • quickly resolve issues with team collaboration over a common view of data.

Since its creation in 2019, multiple industry leaders in France, Germany and Switzerland chose Pelico across a diverse range of industries, from Aerospace with Collins Aerospace, to Defense with Safran or Luxury… Thanks to its experienced engineers and data scientists teams, Pelico helped Safran reduce parts shortages by 88% and Collins Aerospace reduced MRO cycle times by 50%.

“The complexity of operations in discrete manufacturing is constantly increasing as we are switching from a model of mass production to a model based on personalized products, reduced volumes and shorter cycle times. This complexity is also reinforced by recurring supply chain shocks (brexit, covid, ukrainian war…). Our job is to absorb all this complexity in order to help operational teams continuously monitor risks in the production chain and facilitate the decision-making process across the factory” explains Tarik Benabdallah, CEO and Co-founder of Pelico.

To continue its growth and become the Operating System of the modern factory, Pelico will open 50 new positions in France and in the US within the next 18 months. The company which opened an office in the US in 2022 aims to strengthen its international presence to support its customers with a global footprint. This fundraising will also give the opportunity to Pelico to invest in its technology and product, enabling its intelligent assistant to tackle more use cases for factory teams.

The Covid crisis has created new challenges and an explosion of last-minute unplanned issues in factory operations and production planning. Pelico has enabled us, thanks to digitalization tools, to optimize and make our industrial risk management processes more robust.Pauline Casta, SIOP and Material Manager at Collins Aerospace.

The complexity of industrial operations has greatly increased in the pandemic and economic context of the last two years. To enable operational teams to manage their production in an optimal way, Pelico has developed a suite of analysis, collaboration and simulation tools that is unique on the market and can be deployed in only a few weeks. Two years after meeting founders Tarik, Mamoun, and Jonathan at the inception of Pelico, we are very excited to partner with them in this important expansion phase.” Xavier Lorphelin, Managing Partner at Serena

About Pelico

Pelico is a startup based in Paris created late 2019 by engineers coming from both the manufacturing and tech worlds. Pelico’s operations management system connects factory teams to manage daily volatility and deliver products on time, at cost. It empowers factory teams to continuously anticipate bottlenecks, act fast with AI-assisted recommendations, and collaborate across teams on the implementation of corrective actions.

About 83North

83North is a global venture capital firm with over $2.2B under management. The fund invests across all stages, in exceptional entrepreneurs, whose focus is to build global category leading companies.

83North has backed more than 85 companies including AeroScout (acquired by Stanley Black & Decker), Celonis, Hybris (acquired by SAP), iZettle (acquired by PayPal), Just Eat (LSE:JE), Marqeta (NASDAQ: MQ), Mirakl, Payoneer (NASDAQ: PAYO), ScaleIO (acquired by EMC), Vast, Vdoo (acquired by JFROG), Via, Wandera (acquired by Jamf) and Wolt (acquired by DoorDash).

About Serena Capital

Serena invests in bold ventures and provides them with an unrivaled level of expertise and operational resources in Paris and New York.

Serena’s portfolio can leverage an experienced team of Operating Partners and a very active C-Level community, the Serena Squad, open exclusively to present and past companies, each contributing to the other’s success.

Founded in 2008 by entrepreneurs for entrepreneurs, Serena’s core belief is that VCs should work for their organizations, not the other way around.

About La Famiglia

La Famiglia is a European seed and growth stage venture capital fund investing in technology companies that enable or disrupt large industries. We are backed by a selection of world-leading entrepreneurs from various industries that provide precious early market access, impactful partnerships and deep expertise for our portfolio companies.

More than a regular venture fund, La Famiglia serves as a trusted access platform creating unique relationships between the old and the new world, enabling real differentiated leverage on capital.

About ISAI

Nearly 300 successful entrepreneurs, who have invested in ISAI funds, and more than 50 ISAI-backed start-up co-founders share the collective ambition of co-writing great entrepreneurial stories. ISAI invests in differentiated projects run by ambitious teams that it selects rigorously and actively supports. ISAI Gestion, an investment management company approved by the AMF, with over €500 million under management, aims to finance and support high potential Tech companies, at the seed/post-seed stage (venture capital, ticket from € 150k ticket to € 3m with participations in successive rounds) or when they have already reached the break-even stage (Tech Growth/LBO, tickets from €5m to €50m).

About the business angels

  • Carsten Thomas – Founder Hybris, ex-SAP Executive

  • Adrien Nussenbaum – CEO Mirakl

  • Bastian Nominacher – CEO Celonis

  • Alex LeQuoc – CTO Datadog

  • Florian Douetteau – CEO Dataiku

  • Jonathan Benhamou & Clément Buyse – People doc

  • Charles Miglietti – CEO Toucan Toco

Categories: News

Regional Rail expands into Canada with acquisition of short-line rail portfolio

3i-backed Regional Rail, a leading owner and operator of short-line freight railroads, has acquired a portfolio of freight rail assets located across western Canada from G3 Canada Limited. In addition to the Great Sandhills Railway, Regional Rail will acquire interests in three other freight rail assets located in western Canada. The rail portfolio serves a diversified set of industrial customers across a range of agricultural and energy end-markets.

Al Sauer, President and CEO, Regional Rail, commented:

“We are looking forward to welcoming the employees of Great Sandhills Railway to our team and working together with our new partners to execute our top-line growth strategy.”

Rob Collins, Managing Partner and Head of North American Infrastructure, 3i, commented:

“The Great Sandhills Railway and other freight companies are a great addition to Regional Rail. We are excited to expand into the Canadian market, where we see significant industrial growth opportunities across the railroads. Since our initial investment in 2019, we have believed Regional Rail offers an attractive platform for consolidation and this acquisition further strengthens that conviction.”

Perry Pellerin, CEO, Great Sandhills Railway, and former President of the Western Canadian Short-Line Railway Association, commented:

“We appreciate the support G3 Canada has provided over the past several years and are excited to join the Regional Rail family of short-line railroads. The GSR shares Regional Rail’s focus on providing a high degree of customer service to our partners and we look forward to sharing best practices between our companies to help further grow our operations in Canada.”

Since partnering in July 2019, 3i and Regional Rail have more than doubled the size of Regional Rail with the acquisitions of ten freight railroads located across North America. The company provides freight transportation, car storage, and transloading services across the United States, in addition to freight rail services in western Canada. In addition to freight services, Regional Rail provides railroad crossing signal design, construction, inspection, and maintenance services to a diverse base of short-line and industrial customers in 20 U.S. states via the company’s Diamondback Signal subsidiary.



Download this press release   


For further information, contact:

3i Group plc

Silvia Santoro
Investor enquiries

Kathryn van der Kroft
Media enquiries


Tel: +44 20 7975 3258

Tel: +44 20 7975 3021


About 3i Group

3i is a leading international investment manager focused on mid-market infrastructure and private equity, with core investment markets in North America and Europe. For further information, please visit:

About Regional Rail LLC

Regional Rail LLC is a freight transportation holding company headquartered in Kennett Square, Pennsylvania. The company provides freight rail transportation, car storage, and transloading services across the U.S. and western Canada, in addition to railroad crossing signal design, construction, inspection, and maintenance services via the company’s Diamondback Signal subsidiary. For further information, please visit:

Categories: News

DIF invests EUR 150 million in Nordic solar developer Alight | press release


DIF Capital Partners will acquire a majority stake in Stockholm-headquartered Alight, a leading developer of subsidy-free solar projects in the Nordics. The agreement includes an investment of EUR 150 million and a secondary buy-out of a number of existing shareholders. With the capital raised, Alight will accelerate the buildout of its near term pipeline of solar projects.

The company will do so by building out and retaining ownership of projects going forward and aiding the transition into an independent power producer. Alight built its foundation in the Nordic solar market by offering solar power purchase agreements (PPAs) to major commercial and industrial (C&I) power users, and has developed several of Sweden’s largest solar parks in addition to delivering multiple onsite solar solutions. The investment will enable Alight to accelerate its build-out of new solar projects in the Nordics and more broadly across Europe.

Commenting on the investment, Alight CEO Dr Harald Overholm said: “I am proud of Alight’s journey so far and this investment will accelerate our leadership in the subsidy-free solar build-out. Our delivery of solar-as-a-service to major power users makes us a natural partner to companies of all sizes and industries. We are excited to work closely with DIF on progressing the corporate transition to renewables; they share our vision for the industry and the urgency of our work to accelerate the energy transition. Corporate power usage accounts for up to 70% of global electricity consumption, so making a prompt and effective shift to renewable energy is crucial. Solar remains the cheapest and quickest energy source to scale, so building more to deliver energy security and reduce emissions is crucial.”

Nine years on from its founding in 2013, Alight is now a leader in Europe’s commercial solar roll-out through its subsidy-free approach to solar PPAs. In its native Nordics, Alight has over 1 GW pipeline of projects under development, much of which will be built out within the next 24 months. Alight also has an additional 170 MW pipeline under development across Europe.

Commenting on their investment in Alight, Gijs Voskuyl, Partner of DIF and Head of Investments for DIF Infrastructure VII, said: “We have been impressed by Alight’s track record as a first mover in the growing Nordic solar market, in addition to their top quality customer-led approach to winning long-term solar contracts. We also share Alight’s vision on how to accelerate the energy transition in Europe and more specifically for their C&I customers, whilst also providing them with energy security at low cost in the current high power price environment. Alight’s team and outlook are a strong foundation to build upon and we are pleased to take this step, enabling Alight to realise its growth ambitions.”

Having set an initial target to build 1 GW of solar assets by 2025, Alight now aims to have 5 GW of PPA-backed solar projects delivered across the Nordics and Europe by 2030. Alight’s PPAs protect major power users from price surges by offering fixed prices on 10-20 year contracts. Alight is also leading the Swedish market roll out of co-located battery storage, a key component of ensuring that grid stability copes with the solar roll-out.

In October this year, Alight announced Sweden’s largest co-located solar-plus-storage plant to be completed in December at a 12 MW solar park in Linköping. Alight developed and operates Sweden’s largest operational solar park, an 18 MW asset developed for Martin & Servera in Skurup. The company aims to bring forward co-location storage on future projects and retrofit existing assets to include storage.

Alight was advised by Newsec Infra (financial) and Mannheimer Swartling (legal adviser). DIF was advised by Augusta & Co (financial) and DLA Piper (legal).


About Alight
Alight is a leading Nordic solar developer and Independent Power Producer, co-founded in 2013 by Dr Harald Overholm, Richard Nicolin and Wilhelm Lowenhielm to usher in a new era of solar power to businesses seeking to go greener. With an entirely subsidy-free business model, Alight develops and operates solar projects, onsite and offsite, across Europe. By 2030 Alight is set to have an installed capacity of at least 5 GW backed with solar PPA contracts. Alight is the leading solar PPA provider in the Nordics – with customers including Swedbank, Nolato, Kingspan and Toyota – and is developing more than 1 GW of PPA-based projects across Sweden, with a further 170 MW under development across the rest of Europe. In 2021, Alight joined the United Nations Global Compact as part of its support of the UN Sustainable Development Goals.

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with more than EUR 14 billion in assets under management across eleven closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australia through two complementary strategies:

  • Traditional DIF funds, of which DIF Infrastructure VII is the latest vintage, target core infrastructure equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and energy transition projects (incl. renewable energy).
  • DIF CIF funds, of which DIF CIF III is the latest vintage, target equity investments in small to mid-sized core-plus infrastructure companies in the telecom, energy transition, and transportation sectors.

DIF Capital Partners has a team of over 200 professionals, based in eleven offices located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit


Contact: Diederik Heinink,

Categories: News

EQT Ventures III closes Europe’s largest venture capital fund committed to early-stage tech startups

  • EQT Ventures III holds final close at EUR 1 billion of fee-generating commitments, and EUR 1.1 billion of total commitments, to invest in European and North American early-stage tech startups
  • The Fund, which includes participation from a wide range of European, North American and Asian institutional investors, foundations, and endowments, will make investments of EUR 1-50 million in founder-led startups using technology to try and solve some of the biggest challenges facing society
  • EQT Ventures III brings total commitments raised across the EQT Ventures Funds to EUR 2.3 billion since launching in 2016. The EQT Ventures Funds have completed over 100 investments, of which nine have reached a valuation above EUR 1 billion and 18 have been exited. EQT Ventures III has already led investments in 13 companies, including Juni, Nothing, Knoetic and Candela
  • EQT Ventures III and EQT Growth together bring EUR 3.5 billion of new commitments to invest in early- and growth-stage technology companies, cementing EQT’s position as a leading tech investor

Stockholm, 9 November 2022 – EQT has closed Europe’s largest venture capital fund committed to early-stage tech startups. EQT Ventures III (the “Fund” or “Ventures III”) closed with total commitments of EUR 1.1 billion, of which EUR 1 billion is fee-generating, bringing the total commitments raised across the EQT Ventures’ Funds to EUR 2.3 billion since launching in 2016.

Taking place during a time of market uncertainty, the successful fundraise is evidence that investors still have an appetite for early-stage technology focused funds despite the challenging macroeconomic environment, turning to proven and high-conviction teams with a hands-on approach.

The EQT Ventures Funds have made over 100 investments in six years, including nine companies that have reached a EUR 1bn+ valuation, including Wolt, Small Giant Games, Einride, Handshake, Netlify and Instabox (today Instabee). The Fund has already backed and supported 13 companies as the lead investor. EQT Ventures III will continue to support companies using technology to solve some of the biggest challenges facing society by investing in sectors such as climate tech, food tech, the creator economy, energy, fintech, software, data & IT infrastructure, deep tech and more.

The Fund’s global investor base – with institutional investors, foundations and endowments across Europe, the Americas and APAC – reflects its international presence and outlook. From its offices in six countries, the EQT Ventures Advisory Team is focusing on helping founders expand their businesses globally – European startups into the US and vice versa. The EQT Ventures Funds currently have portfolio companies in 16 geographies.

Lars Jörnow, Partner at EQT Ventures, said: “EQT Ventures was founded to give entrepreneurs the investor that we would have wanted on our company board. Now, with a freshly raised EUR 1.1 billion, an advisory team of founders and operators, and being backed by EQT, one of the world’s biggest tech investors, EQT Ventures is here to continue the journey as half startup, half VC, investing holistically in early-stage tech startups, giving founders a fast track to scale.”

The EUR 1.1 billion close of EQT Ventures III follows the recent close of the EQT Growth fund, at EUR 2.4 billion in total commitments, cementing EQT’s position as a leading tech investor. EQT Ventures and EQT Growth are both committed to investing in high growth private tech companies; they are two separate business divisions, with separate funds and advisory teams. EQT Ventures makes initial investments between EUR 1-50 million, while EQT Growth makes initial investments between EUR 50-200 million at later stages of the company growth journey.

Per Franzén, Head of Private Capital and Deputy Managing Partner at EQT, said: “Coming shortly after the close of EQT Growth, EQT Ventures’ successful fundraise is a real vote of confidence in EQT’s active ownership approach to investing. The capital raised across both funds means EQT has now raised new commitments of EUR 3.5 billion to private market tech, consolidating our position as one of the world’s largest tech investors. By driving collaboration across EQT Private Capital we will continue to be at the forefront of technology investing across strategies.”

Alastair Mitchell, Partner at EQT Ventures, concluded: “Now is the time to back category leaders, those driving innovation to change the world for the better. EQT Ventures was set up to give founders the best chance of reaching scale, irrespective of the macroeconomic climate. We’re an advisory team of founders and operators that have weathered cycles and have experience creating global businesses. The Fund will double down on EQT Ventures’ proven European track record, while continuing to grow the impressive portfolio of US startups scaling internationally.”

The EQT Ventures funds are advised by over 40 founders and operators across offices in Stockholm, London, San Francisco, Berlin and Paris with a 50/50 gender split. With the new fund, the advisory team will be able to grow further by hiring in Europe and the US, with the ultimate goal of making EQT Ventures the most supportive early-stage investor across both markets.

The team’s guidance to the portfolio is assisted by its proprietary AI market intelligence tool, EQT Motherbrain. Motherbrain is used to source investment opportunities – having assisted EQT Ventures source 15 investments to date, representing EUR 200m of invested capital in total. It also provides market intelligence to founders within the EQT Ventures portfolio.

James Hartwell, Kekst CNC,, +44 7870 487 532
Sofie Grant,

About EQT Ventures
The EQT Ventures Funds pursue an early-stage strategy, partnering with the most ambitious and boldest founders in Europe and the US. The funds are based in Luxembourg and have investment advisors stationed in Stockholm, London, San Francisco, Berlin and Paris. Fuelled by experienced company builders and scalers, EQT Ventures helps the next generation of entrepreneurs with the capital and hands-on support needed to build global winners.

More info:
Follow EQT Ventures on LinkedIn

Categories: News

GIP and KKR-led Consortium Enters Into Strategic Co-control Partnership With Vodafone to Invest in Vantage Towers AG


Two of the world’s leading infrastructure investors and Vodafone team up to jointly transform Vantage Towers into a leading player in the European telecoms tower sector

  • The Consortium, as partner to Vodafone, will co-control Vodafone’s c. 81.7% stake in Vantage Towers and launch a public takeover offer to the minority shareholders of the company for the remaining c. 18.3%
  • GIP and KKR together with Vodafone intend to provide the deep infrastructure expertise needed to accelerate Vantage Towers’ strategic and operational development
  • The strategic partners intend to support an ongoing multibillion euro investment program over the next five years in order to improve Vantage Towers’ existing infrastructure and expand and upgrade its network
  • The Consortium will support the development of Europe’s digital infrastructure by driving network expansion and enabling the deployment of next-generation technologies
  • The public takeover will be launched at an offer price of EUR 32.0 per Vantage Towers share, representing a 19% premium to the 3-month volume-weighted average share price

LONDON & FRANKFURT–(BUSINESS WIRE)– Today, a consortium of funds led by Global Infrastructure Partners (“GIP”) and KKR (together “the Consortium”) entered into a strategic co-control partnership with Vodafone GmbH (“Vodafone”) for Vodafone’s c. 81.7% stake in Vantage Towers AG (“Vantage Towers” or “the company”), a leading telecoms tower company in Europe. Vodafone will transfer its stake in Vantage Towers to a holding company (“Oak BidCo”), which will be indirectly co-controlled by Vodafone and the Consortium. The Consortium will obtain a shareholding of up to 50%. Oak BidCo will launch a voluntary public takeover offer for all outstanding free float shares of Vantage Towers AG comprising c. 18.3% of the share capital.

GIP and KKR will be investing through their core infrastructure strategies. Tower Bridge Infrastructure Partners1 will be part of the Consortium as a co-investor, with additional funding for the transaction provided by the Public Investment Fund (“PIF”).

Together, GIP, KKR and Vodafone will provide deep infrastructure expertise to help advance the company’s strategic plans. The Consortium and Vodafone share a joint ambition to accelerate the company’s growth trajectory through additional investments by Vantage Towers in its network and expansion into fast-growing adjacent markets. The Consortium and Vodafone aim to expand Vantage Towers’ business to create a leading pan-European telecoms tower business.

Already a leader in its core markets today, Vantage Towers has a large footprint of approximately 83,000 sites in ten countries, long-term agreements with high-quality tenants and a deep and dense network in the markets in which it operates. The company benefits from consistent organic growth, stable margin development and strong cash generation driven by significant revenue visibility and enhanced commercialization of its tower footprint. In 2021, Vantage Towers signed a landmark agreement with 1&1 Mobilfunk GmbH to support the company in the rapid roll-out of its 5G network, covering potentially up to 5,000 existing sites throughout Germany for the next 20 years.

“We’re delighted to join forces with Vodafone and KKR to invest in Vantage Towers, a high-quality European tower portfolio with strong upside potential. We are looking forward to capturing the exciting value-creating opportunities in the European telecoms infrastructure sector by advancing Vantage Towers’ strategy and supporting its capacity to build new sites. As strategic partners with Vodafone and KKR, we will bring our deep infrastructure expertise and resources to help the company deliver the best data connectivity for individuals and businesses and contribute to enabling Europe’s digital future in the interest of all stakeholders,” said Will Brilliant, Partner and Head of Digital Infrastructure at GIP.

“Together with our strategic partners Vodafone and GIP, we believe Vantage Towers’ high-quality footprint and network across the region ideally position it to meet the ever-growing demand for mobile connectivity in Europe. We have a shared goal of creating a pan-European telecoms champion by continuing to grow and develop the business, leveraging the Consortium’s significant telecoms infrastructure investment experience and global resources. At KKR we are long-term conviction investors in Europe’s digital infrastructure and at Vantage Towers we intend to pursue value-creating investments to capitalise on the growth in this sector and to help drive consolidation in a fragmented market,” said Vincent Policard, Partner and Co-Head of European Infrastructure at KKR.

“This is a landmark moment for both Vodafone and Vantage Towers. This transaction successfully delivers on Vodafone’s stated aims of retaining co-control over a strategically important asset, deconsolidating Vantage Towers from our balance sheet to ensure we can optimise its capital structure and generate substantial upfront cash proceeds for the Group to support our priority of deleveraging. We are excited to partner with GIP and KKR, both world-class investors who bring significant expertise in digital infrastructure and share our long-term vision for Vantage Towers as we collectively take the business to the next stage of its growth,” said Nick Read, Vodafone Group Chief Executive.

Investing in the modernization of Europe’s mobile infrastructure
Together, the strategic partners plan to support Vantage Towers’ multibillion investment program over the next 5 years in order to improve existing infrastructure and to expand as well as upgrade the network. Through their strategic co-control partnership, the Consortium and Vodafone intend to support Vantage Towers to:

  • Accelerate the company’s ambitious program to build new sites for existing clients (“Build-to-suit”, “BTS”) that helps them to meet their coverage obligations and densification requirements.
  • Enhance Vantage Towers’ commercial capabilities and drive the utilization of existing assets by capturing additional co-location opportunities from new and existing third-party customers.
  • Expand the company’s activities beyond its core business into fast-growing adjacent markets such as 5G private networks, data centers, edge computing, small cells and the internet-of-things (“IoT”), and deploying fiber to the tower ecosystem.
  • Further drive consolidation in the European tower sector.

This European growth strategy is expected to allow Vantage Towers to further diversify its tenant base, increase the size and depth of its tower portfolio, while also creating further cost efficiencies and improving its profitability.

With further investments into Vantage Towers’ network, the Consortium and Vodafone are supporting Europe’s digitalization efforts and ensuring that mobile telecommunications infrastructure can keep up with the rapidly rising demand for data traffic and connectivity. Emerging trends such as autonomous driving, telemedicine, virtual/augmented reality, smart farming and IoT depend on the data services and infrastructure that enable them. Vantage Towers has the DNA of a carrier-neutral infrastructure provider, which will play a key role in empowering a sustainably connected Europe. The Consortium is aware of its responsibility to provide access to communications services for the community. It also recognizes the importance of sustainably stewarding these critical assets and is committed to ensuring that Vantage Towers remains a highly attractive employer in the industry.

GIP and KKR have a long track record of collaboration in the infrastructure sector
Both GIP and KKR are leading global infrastructure investors. Together, they form a Consortium with unique experience and expertise in global infrastructure investing, particularly in the digital and communications sector. Both companies share a longstanding institutional relationship and have a proven track record of acting together within one consortium. The Consortium is a strong financial partner for Vantage Towers with access to ample liquidity and long-term value creation objectives to support the business and the necessary investments at this pivotal moment for the industry.

Voluntary takeover offer
As part of their strategic co-control partnership, the Consortium and Vodafone will launch a voluntary public takeover offer to the shareholders of Vantage Towers through Oak BidCo. Vantage Towers’ shareholders will be offered EUR 32.0 per share in cash. Vantage Towers’ shareholders will benefit from a 19% premium to the 3-month volume-weighted average share price.

The voluntary takeover offer will be subject to various customary offer conditions, including the receipt of regulatory antitrust and FDI approvals, with closing expected in the first half of 2023.

As part of the transaction, Oak BidCo and Vantage Towers have entered into a Business Combination Agreement in which Vantage Towers undertook to support the takeover offer. Subject to their review of the offer document, the management board and supervisory board of Vantage Towers welcome and support the offer and intend to recommend that Vantage Towers’ shareholders accept the offer. The current management board members of Vantage Towers will continue to lead the company.

Further, the Consortium and Vodafone intend to implement a domination profit and loss transfer agreement (“DPLTA”) if the final shareholding of Oak BidCo in Vantage Towers is below 95%, or a squeeze-out of non-Oak-BidCo minority shareholders if the aggregate shareholding of Oak BidCo in the company is 95% or higher. Post-closing, Vodafone and the Consortium will consider removing Vantage Towers’ public listing from the Frankfurt Stock Exchange.

Offer document and further information
The voluntary public takeover offer will be made pursuant to an offer document to be approved by the German Federal Financial Supervisory Authority (BaFin). This offer document will be published following receipt of permission from BaFin, at which point the initial acceptance period of the takeover offer will commence. The offer document (in German and a non-binding English translation) and other information pertaining to the public takeover offer will be published on the following website:

GIP and KKR are advised by Morgan Stanley as exclusive financial advisor and Latham & Watkins as legal advisor.


About Vantage Towers
Vantage Towers is a leading tower company in Europe with around 83,000 sites in ten countries, connecting people, businesses and devices in cities and rural areas.

The company was founded in 2020 and is headquartered in Düsseldorf. Vantage Towers has been listed on the Deutsche Börse’s Prime Standard in Frankfurt since 18 March 2021. The shares are included in the MDAX, TecDAX, STOXX Europe 600 and FTSE Global Midcap Indices.

Vantage Towers’ portfolio includes towers, masts, rooftop sites, distributed antenna systems (DAS) and small cells. By building, operating and leasing this infrastructure to MNOs or other network providers such as IoT companies or utilities, Vantage Towers is making a significant contribution to a better-connected Europe.

While already 100% of the electricity that Vantage Towers uses to operate its infrastructure is obtained from renewable energy sources, green energy is increasingly being generated directly on site with the help of solar panels, micro wind turbines and in future also hydrogen solutions. This fits well into the overall strategy of the company to drive a sustainable digitalisation in Europe and to support partners through technological innovation in decarbonisation and achieving their climate goals.

For more information, please visit our website at, follow us on Twitter at @VantageTowers or connect with us on LinkedIn at

About Vodafone
Unique in its scale as the largest pan-European and African technology communications company, Vodafone transforms the way we live and work through its innovation, technology, connectivity, platforms, products and services.

Vodafone operates mobile and fixed networks in 22 countries, and partners with mobile networks in 47 more. As of 30 June 2022, we had over 300 million mobile customers, more than 28 million fixed broadband customers and 22 million TV customers. Vodafone is a world leader in the Internet of Things (“IoT”), connecting around 160 million devices and platforms.

We have revolutionised fintech in Africa through M-Pesa, which celebrates its 15th anniversary in 2022. It is the region’s largest fintech platform, providing access to financial services for more than 50 million people in a secure, affordable and convenient way.

Our purpose is to connect for a better future by using technology to improve lives, digitalise critical sectors and enable inclusive and sustainable digital societies.

We are committed to reducing our environmental impact to reach net zero emissions across our full value chain by 2040, while helping our customers reduce their own carbon emissions by 350 million tonnes by 2030. We are driving action to reduce device waste and achieve our target to reuse, resell or recycle 100% of our network waste.

We believe in the power of connectivity and digital services to improve society and economies, partnering with governments to digitalise healthcare, education and agriculture and create cleaner, safer cities. Our products and services support the digitalisation of businesses, particularly small and medium enterprises (SMEs).

Our inclusion for all strategy seeks to ensure no-one is left behind through access to connectivity, digital skills and creating relevant products and services such as access to education, healthcare and finance. We are also committed to developing a diverse and inclusive workforce that reflects the customers and societies we serve.

For more information, please visit, follow us on Twitter at @VodafoneGroup or connect with us on LinkedIn at

About Global Infrastructure Partners
GIP is a leading independent infrastructure fund manager that makes equity and debt investments in infrastructure assets and businesses. GIP targets investments in the energy, transport, digital infrastructure, and water/waste sectors in both OECD and select emerging market countries. Headquartered in New York, GIP operates out of 10 offices: New York, London, Stamford (Connecticut), Sydney, Melbourne, Brisbane, Mumbai, Delhi, Singapore and Hong Kong. GIP manages c. US $84 billion for its investors. GIP’s portfolio companies have combined annual revenues of c. US $68 billion and employ over 100,000 people. For more information, visit

About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries.

KKR established its Global Infrastructure business in 2008 and has since grown to one of the largest infrastructure investors globally with a team of more than 75 dedicated investment professionals. The firm currently oversees approximately US$50 billion in infrastructure assets globally as of 30 September, 2022, and has made over 65 infrastructure investments across a range of sub-sectors and geographies. KKR’s infrastructure platform is devised specifically for long term, capital intensive structural investments.

For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at and on Twitter @KKR_Co.

1 Separately Managed Account managed by GIP

Media Contact Consortium (on behalf of GIP and KKR)


Thea Bichmann
Mobile: +49 172 13 99 761

Christian Falkowski
Mobile: +49 171 86 79 950


Alastair Elwen
Telephone: +44 20 7251 3801

Sophia Johnston
Telephone: +44 20 7251 3801

Source: KKR

Categories: News


CNSI and Kepro Announce Merger to Create Leading Healthcare Solutions Company


Combined company to drive improvements in health outcomes through technology enablement, data analytics, and clinical expertise

McLean, VA, and Nashville, TN, November 9, 2022 – CNSI, a leading provider of innovative healthcare technology products and solutions, and Kepro, a leading provider of technology-enabled care management, quality oversight, and clinical assessment services announced an agreement to merge. The combined company will help government-sponsored healthcare agencies and payers expand healthcare access, enhance quality, improve health outcomes, and lower costs through its clinical services, provider management, health claims and encounter processing, interoperability, and health analytics services and solutions. CNSI is backed by funds advised by global investment firm Carlyle (NASDAQ: CG), and Kepro is a portfolio company of funds advised by Apax Partners LLP (“Apax Funds”), which will be exiting its investment through this transaction.

Todd Stottlemyer, CNSI’s CEO, will lead the new company. Susan Weaver, MD, Kepro’s President and CEO, will become President. Both leaders will sit on the company’s board of directors.

“The combination of CNSI and Kepro aligns with the strategic objectives of both companies to deploy technology-enabled products, solutions, and services that help our clients achieve their mission and better serve their priority populations,” said Stottlemyer. He added: “I am excited about our ability to provide a full array of services and solutions that will help our clients meet the holistic health needs of those they serve.”

“Healthcare is changing rapidly, and we believe the combination of our capabilities will help our clients meet and adapt to these changes,” said Dr. Weaver. “Kepro gains a partner with extensive large-scale, systems implementation experience, and CNSI gains a partner with deep clinical expertise. Together our employees will also benefit with new opportunities to diversify their skillsets and advance their careers,” Weaver added.

Dayne Baird, CNSI Board Member and Managing Director at Carlyle, said: “We are incredibly excited by the combination of these two highly differentiated businesses and the opportunity to partner with Todd, Susan, and their talented leadership teams. The combination brings CNSI’s leading health technology capabilities together with Kepro’s clinical expertise and unique service offerings, allowing the company to better serve its clients and improve care quality and health outcomes.”

Andrew Cavanna, Kepro Board Member and Partner at Apax, said: “We are proud to have supported Kepro in its evolution over the past five years. Through the leadership of Susan and her management team, the business grew its capabilities and the value it delivers to its customers. We wish the combined company every success in the future.”

CNSI is headquartered in McLean, VA, and Kepro is headquartered in Nashville, TN. Both locations will be maintained. The newly merged company will rebrand in early 2023.

The new company is backed by Carlyle (NASDAQ: CG), a global investment firm. Latham & Watkins LLP acted as legal advisor to CNSI and Carlyle. Centerview Partners acted as an investment advisor to Kepro and Apax, and Kirkland & Ellis served as legal advisor to both Kepro and Apax. The transaction is expected to close in December 2022, subject to customary closing conditions.


About CNSI

CNSI delivers a broad range of health information technology enterprise solutions and products to a diverse base of state and federal agencies in the United States that help clients achieve their mission, enhance business performance, reduce costs, and improve the health of individuals and communities. Headquartered in McLean, VA, CNSI’s global workforce includes 1,200 employees, including a world-class team of technologists, program managers, and subject matter experts with large-scale, mission-critical information technology implementation experience.

About Kepro

Founded in 1985 by physicians, Kepro provides technology-enabled services for priority populations to help them remain in the home or community of their choice. Kepro partners with government and private healthcare payers to maximize healthcare quality, improve accuracy, and increase efficiency. The company’s three core solution lines, care management, quality oversight, and assessments and clinical eligibility, ensure that clients’ beneficiaries receive the right care delivered in the right place at the right time. Kepro’s workforce numbers over 1,700 employees, including 600 full-time clinicians, across 17 U.S.-based offices, as well as a network of 4,500 physicians and 450 clinicians who serve on their advisory and review panels.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $369 billion of assets under management as of September 30, 2022, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,100 people in 29 offices across five continents. Further information is available at Follow Carlyle on Twitter @OneCarlyle.

About Apax

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit

Categories: News


KKR to Invest $400 Million in Decarbonization Platform Serentica Renewables


November 8, 2022

  • Serentica seeks to enable the energy transition for energy-intensive, hard-to-abate industrial sectors by providing complex clean energy solutions
  • Transaction is among the largest industrial decarbonization investments in India to date

NEW DELHI–(BUSINESS WIRE)– KKR, a leading global investment firm, and Serentica Renewables (“Serentica” or the “Company”), a decarbonization platform that seeks to enable the energy transition by providing complex clean energy solutions for energy-intensive, hard-to-abate industries, today announced the signing of definitive agreements under which KKR will invest $400 million in the Company.

This press release features multimedia. View the full release here:

Serentica looks to deliver round-the-clock clean energy solutions for large-scale, energy-intensive industrial customers. This includes providing renewable energy solutions through long-term Power Purchase Agreements (“PPAs”) and working closely with customers to design their paths to net-zero electricity. Currently, the Company has entered into three long-term PPAs and is in the process of developing ~1,500 MW of solar and wind power projects across various states including Karnataka, Rajasthan, and Maharashtra. Serentica’s medium term goal is to install 5,000 MW of carbon-free generation capacity coupled with different storage technologies and supply over 16 billion units of clean energy annually and displace 20 million tonnes of CO2 emissions.

Serentica’s launch builds on the favorable macroeconomic tailwinds behind India’s power and renewables sectors, as well as the government’s strong commitment to advancing India’s energy transition. In addition, Serentica looks to provide clean energy alternatives to the critical but hard-to-abate industrial sectors that continue to drive India’s development and economic growth. As energy demands continue to rise alongside India’s developmental needs and prosperity, there is significant potential for renewable energy to play an important role in meeting the energy needs of the industrial sector in a sustainable manner.

Pratik Agarwal, Director of Serentica Renewables, said, “We are happy to have a like-minded strategic partner in KKR who believes in our model of sustainable development. The world is undergoing a clean energy transition and India is at the forefront of this effort with its ambitious target of 450GW by the year 2030. This investment will allow us to leap ahead in our vision of decarbonizing large energy intensive industries and help in reversing climate change. This transaction is amongst the largest industrial decarbonization investments in India to date and carries forward the global decarbonization agenda which is centre stage at COP27 (2022 United Nations Climate Change Conference).”

Hardik Shah, Partner at KKR, said, “Our investment in Serentica reflects KKR’s confidence in India’s renewables sector and our commitment to advancing the energy transition in India. Energy-intensive, heavy-industry companies play an important role in society but have traditionally faced more challenges in meeting energy needs sustainably. With Serentica, we look to support these companies in their decarbonization objectives. We are delighted to back Serentica through this latest strategic partnership and are excited to develop Serentica into a leading decabonization platform that can contribute meaningfully to the energy transition requirements that lie ahead of us.”

Standard Chartered Bank acted as the sole financial advisor to Serentica for this transaction.

KKR makes its investment from its Asia Pacific Infrastructure strategy. The transaction in Serentica marks KKR’s latest investment in India and the renewables sector. Since 2011, KKR has deployed over $15 billion in equity globally to invest in renewable assets, such as solar and wind, which have an operational power generation capacity of 23 GW, as of December 31, 2021. In Asia Pacific, KKR sees renewables as core to its infrastructure strategy and seeks to invest behind the significant opportunities across the region.

About Serentica Renewables

Established in 2022, Serentica Renewables is 100% held by Twinstar Overseas Limited (“TSOL”) which also owns controlling stakes in Sterlite Power Transmission Limited & Sterlite Technologies Ltd. Serentica Renewables looks to provide round-the-clock clean energy solutions enabling the transition of large-scale, energy-intensive industries to clean energy. The company is focused on industrial decarbonization, by making renewables the primary source of energy for the commercial & industrial segment which consumes more than 50% of the electricity generated in India. Serentica aims to provide assured renewable energy through a combination of solar, wind, energy storage and balancing solutions.

For more details on Serentica, please visit

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at and on Twitter @KKR_Co.

Media enquiries:
For Serentica Renewables:
Ajay Padamanabhan
+91 90112 38700

For KKR:
Wei Jun Ong
+ 65 9139 5813

Source: KKR

Categories: News