Category Archives: News

Pointsharp, backed by Main Capital Partners, acquires Identity Management software provider Vemendo

Main Capital Partners

Pointsharp acquires Vemendo to expand its Identity and Access Management capabilities and strengthen its presence across Europe’s cybersecurity market.

Stockholm, 22nd April 2025 – Pointsharp, a Swedish Identity and Access Management (IAM) software provider, has acquired Stockholm-based Vemendo AB (“Vemendo”). Vemendo provides software for identity management, user provisioning, and lifecycle management, which enables user information to be up to date, identity information to be easily tracked within the organization, and for users to log in securely to multiple networks or systems. This synergistic acquisition presents a strong strategic fit with Pointsharp and aligns with the company’s growth strategy in the European Identity and Access Management software market. The acquisition of Vemendo marks Pointsharp’s fifth add-on acquisition since Main Capital Partners (“Main”) became a majority investor in November 2020. The combination is expected to complement and enhance Pointsharp’s IAM offerings, further strengthening its position in the Nordics and across the rest of Europe.

Vemendo’s offering of identity management, federation services, and identity provisioning software integrates well with Pointsharp’s existing solutions and strengthens the implementation of the company’s growth strategy. Vemendo serves a wide range of clients, focusing on the public sector and larger corporates in industrials, defence, and retail.

Through the acquisition, Pointsharp expands on the functionalities offered to existing and new clients across multiple industries.

– Wessel Ploegmakers, Partner and Head of Nordics at Main Capital Partners

Wessel Ploegmakers, Partner and Head of Nordics at Main Capital Partners, comments: “Vemendo marks Pointsharp’s fifth acquisition and solidifies Pointsharp’s position in the Nordic and European Identity and Access Management software industry. Through the acquisition, Pointsharp expands on the functionalities offered to existing and new clients across multiple industries. The acquisition will strengthen the position of Pointsharp in providing Identity and Access Management solutions going forward.”

Niklas Brask, CEO at Pointsharp, says: “We are thrilled to announce the acquisition of Vemendo, a strategic move that significantly enhances our capabilities as a European Identity and Access Management (IAM) vendor. This acquisition not only expands our footprint in the identity fabric but also strengthens our commitment to provide trusted and innovative European solutions to our customers.”

Tomas Ericsson, CEO at Vemendo, concludes: “We are proud to become part of Pointsharp, a company that shares our vision for secure and efficient identity and access management. This allows us to continue developing leading-edge solutions for our customers while benefiting from the scale, experience, and broader capabilities of Pointsharp. Together, we will be even better positioned to support our clients in navigating the increasing demands of digital identity and access management across the world.”

About Pointsharp

Pointsharp is a European cybersecurity company that enables organizations to secure data, identities, and access in a user-friendly way. We believe security needs to be easy, both for the users and the IT department. Our vision is to give everyone access to a safe, modern digital workplace. The company serves more than 3500 enterprise organizations globally with high security or sensitive data needs in several different market verticals, including finance, governmental, and industrial. Pointsharp was founded in 2006 in Stockholm, Sweden.

About Vemendo

Vemendo, founded in 1997, specializes in software solutions for identity provisioning, user administration, and federation services, as well as implementation and configuration services. Vemendo’s solution serves a range of clients across defense, industrial, and public sector markets in Sweden. Vemendo’s solution allows user information to be up to date, identity information to be easily tracked within the organization, and for users to safely log in to multiple networks or systems.

 

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Advent to acquire tbi bank, a leading challenger bank in Southeast Europe

Advent

LONDON, 22 April 2025 – Advent, a leading global private equity investor, today announced that it has signed a definitive agreement to acquire tbi bank (“tbi”), a leading tech-led challenger bank in Southeast Europe and regional leader in payment plan solutions. Terms of the transaction were not disclosed.

Currently operating in Bulgaria, Romania, and Greece, tbi is building an ecosystem by combining financing and shopping to address customers’ needs. Through various digital channels and trusted partnerships with over 32,000 merchant partner check-out points, tbi has a customer base of over 2.4 million and nearly 1,000,000 loans issued in 2024. Its digital-first business model and customer-focused approach has resulted in tbi becoming one of the leading and fastest growing challenger banks in the region.

“tbi is at a pivotal point in its growth journey and underlines our commitment to the CEE region,” said Ranjan Sen, Managing Partner at Advent. “It is a digital-first, agile and customer focused organisation, and we have a shared vision for helping to shape the future of banking. We are excited to partner with the team to support them as they continue to scale and provide innovative solutions for customers.”

Petr Baron, Chief Executive Officer of tbi, added, “In Advent, we’ve found the right partners who share our ambition, values and mindset. Their experience based on strong financial sector and CEE investment track record reinforces our mission to build a smarter and more accessible banking experience to our customers.”

Advent has developed significant expertise and track record investing in consumer-facing banks and financial institutions, including in the region. Prior and current Advent investments include Nubank, the largest independent digital bank in the world, Addiko Bank, a consumer and SME specialist bank active across Central and Southeast Europe, KreditBee, one of India’s leading consumer finance platforms, Aareal Bank, a leading provider of financing solutions and services, with a focus on the property industry, and YES Bank, the 6th largest private bank in India. Advent also executed multiple investments in Bulgaria and Romania, the core tbi markets.

The transaction is subject to customary regulatory approvals.

About Advent

Advent is a leading global private equity investor committed to working in partnership with management teams, entrepreneurs, and founders to help transform businesses. With 16 offices across five continents, we oversee more than EUR €88 billion in assets under management* and have made 430 investments across 44 countries.

Since our founding in 1984, we have developed specialist market expertise across our five core sectors: business & financial services, consumer, healthcare, industrial, and technology. This approach is bolstered by our deep sub-sector knowledge, which informs every aspect of our investment strategy, from sourcing opportunities to working in partnership with management to execute value creation plans. We bring hands-on operational expertise to enhance and accelerate businesses.

As one of the largest privately-owned partnerships, our 660+ colleagues leverage the full ecosystem of Advent’s global resources, including our Portfolio Support Group, insights provided by industry expert Operating Partners and Operations Advisors, as well as bespoke tools to support and guide our portfolio companies as they seek to achieve their strategic goals.

To learn more, visit our website or connect with us on LinkedIn.

*Assets under management (AUM) as of December 31, 2024. AUM includes assets attributable to Advent advisory clients as well as employee and third-party co-investment vehicles.

About tbi bank

Visit the tbi bank website.

Media contacts

Advent
Peter Folland
pfolland@adventinternational.co.uk

tbi bank
Anna Grigorova
agrigorova@tbibank.bg

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Boeing to Sell Portions of Digital Aviation Solutions to Thoma Bravo for $10.55 Billion

Thomabravo

Agreement includes principles for data sharing and future collaborations to ensure continuity of operations under Thoma Bravo’s ownership

– Sale strengthens Boeing’s capital structure and allows company to focus on core business, including key continued technical operations

ARLINGTON, Va.—Boeing [NYSE:BA] has entered into a definitive agreement to sell portions of its Digital Aviation Solutions business, including its Jeppesen, ForeFlight, AerData and OzRunways assets, to Thoma Bravo, a leading software investment firm. This all-cash transaction is valued at$10.55 billion.

Boeing will retain core digital capabilities that harness both aircraft and fleet-specific data to provide commercial and defense customers with fleet maintenance, diagnostics and repair services. This digital expertise will continue to provide predictive and prognostic maintenance insights.

“This transaction is an important component of our strategy to focus on core businesses, supplement the balance sheet and prioritize the investment grade credit rating,” said Kelly Ortberg, Boeing president and chief executive officer.

“This enables all parts of the digital portfolio to focus on their strengths,” said Chris Raymond, president and chief executive officer of Boeing Global Services. “Our commitment to meeting our customers’ needs is unwavering as we move forward with our core products and services to support their fleets.”

“We are proud to be investing in such an important technology platform in the broader aerospace and defense industry,” said Holden Spaht, a Managing Partner at Thoma Bravo. “With a heritage dating back to the 1930s, Jeppesen has been at the forefront of technological innovation for nearly a century. We are excited to build on this track record and power its next phase of growth.”

“The business has been through an impressive growth transformation in recent years and has strong momentum,” said Scott Crabill, a Managing Partner at Thoma Bravo. “Thoma Bravo has a long track record of backing leading technology companies in partnership with existing management. We look forward to supporting the company’s standalone growth objectives through strategic investments, operational best practices and a shared commitment to innovation and long-term value creation.”

Approximately 3,900 employees around the globe work in Boeing’s Digital Aviation Solutions organization, which includes elements of the business remaining within Boeing and those included in the sale. Boeing is working with Thoma Bravo to help ensure as seamless of a transition as possible for employees while continuing to meet the needs of customers in accordance with all obligations.

The transaction is expected to close by the end of 2025 and is subject to regulatory approval and customary closing conditions.

Citi is acting as exclusive financial advisor to Boeing, and Mayer Brown LLP is acting as outside counsel. Kirkland & Ellis LLP is acting as legal counsel to Thoma Bravo.

About Boeing
A leading global aerospace company and top U.S. exporter, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. Our U.S. and global workforce and supplier base drive innovation, economic opportunity, sustainability and community impact. Boeing is committed to fostering a culture based on our core values of safety, quality and integrity.

About Thoma Bravo
Thoma Bravo is one of the largest software-focused investors in the world, with over US$179 billion in assets under management as of December 31, 2024. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo’s deep sector knowledge and strategic and operational expertise, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20+ years, the firm has acquired or invested in approximately 520 companies representing approximately US$275 billion in enterprise value (including control and non-control investments). The firm has offices in Chicago, Dallas, London, Miami, New York and San Francisco. For more information, visit Thoma Bravo’s website at thomabravo.com.

Caution Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “expects,” “intends,” “projects,” “plans,” “believes,” “estimates,” “targets,” “anticipates,” and other similar words or expressions, or the negative thereof, generally can be used to help identify these forward-looking statements. Examples of forward-looking statements include statements relating to the anticipated benefits of the transaction, future collaborations between the parties, and the timetable for completing the transaction, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on expectations and assumptions that we believe to be reasonable when made, but that may not prove to be accurate. Forward-looking statements are not guarantees and are subject to risks, uncertainties, and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Among these factors are risks related to general conditions in the economy and our industry, including those due to regulatory changes, the ability of the parties to consummate the transaction, and other important factors disclosed previously and from time to time in Boeing’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

Any forward-looking statement speaks only as of the date on which it is made, and we assume no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.

Read the release on the PR Newswire website here.

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Carlyle provides financing package to Suntera Global

Carlyle

St. Helier, Jersey, 22 April 2025 – Global investment firm Carlyle (NASDAQ: CG) today announced that its Global Credit platform has provided a financing package to Suntera Global (“Suntera”), an independent global provider of bespoke fund, corporate and private wealth services.

Founded in 1980, Suntera provides a full suite of professional services to corporates, fund managers, and private clients (including their family offices). Through a comprehensive range of administration, accounting and governance services, Suntera helps its long-standing international base of clients navigate the complex and evolving demands that come with managing wealth and cross-border capital, focusing on reducing clients’ compliance, regulatory, and reporting risks. The company employs more than 500 specialists in offices across Europe, Asia and North America.

This financing package will strengthen the company’s financial foundation by refinancing its existing indebtedness and provide additional capital to support Suntera through organic growth initiatives and strategic acquisitions.

Nicola Falcinelli, Deputy Head of European Private Credit at Carlyle, said: “We are delighted to support Suntera’s continued growth story through this strategic financing. We believe Suntera is strongly positioned to meet growing and resilient demand for specialized professional services, particularly within the context of a rapidly evolving and complex regulatory landscape. This transaction underscores Carlyle’s established strategy of supporting high-quality businesses with flexible capital solutions.”

David Hudson, CEO of Suntera, said: “Since the Management Buy Out in 2019, Suntera has built on its core heritage, grown its international footprint through strong organic and inorganic growth, and established a reputation for its highly specialized capability and diversified proposition which spans multiple strategies, geographies and service lines. We are grateful for the support of Carlyle, which enables Suntera to continue to pursue its growth ambitions through its first-class customer offering, and the continuation of its highly successful consolidation strategy.”

Carlyle’s Global Credit platform manages $192 billion in assets under management, as of December 31, 2024. It regularly pursues investments in privately negotiated capital solutions partnering with high-quality sponsors and leading family or entrepreneur-owned companies. The Suntera transaction follows an active last few months for Carlyle’s European credit platform, recently announcing investments including Argon, Sanoptis, and Bianalisi.

 

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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 $441 billion of assets under management as of December 31, 2024, 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 2,300 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

 

About Suntera Global

Suntera Global is a multi-jurisdictional provider of fund, corporate and private wealth services. We believe in empowering responsible ambition through the professional delivery of fund, company and trust administration as well as outsourced compliance, accounting and tax services. Suntera employs over 500 specialists supporting a global client base from offices in the Bahamas, the Cayman Islands, Hong Kong, the Isle of Man, Jersey, Guernsey, Luxembourg, the UK and the USA.

For more information visit suntera.com

 

Media contacts:

Carlyle:

Charlie Bristow

Tel: +44 (0) 7384 513568

Email: charlie.bristow@carlyle.com

 

Suntera Global: 

Cara Pyper
cara.pyper@suntera.com

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Bain Capital and BlueWater Marinas Acquire Boathouse Marine Center

BainCapital

BlueWater Marinas

BOSTON and CHARLESTON, S.C.  –  April 21, 2025 – Bain Capital’s Real Estate team (“Bain Capital”) and BlueWater Marinas (“BlueWater”), led by Joe Miller and Dunston Powell, today announced the acquisition of Boathouse Marine Center (“BMC”), a dry-stack marina in Pompano Beach, Florida.  Financial terms of the private, off-market purchase were not disclosed.

Bain Capital and BlueWater formed a strategic joint venture in 2024 to acquire and operate high-quality, storage-centric marina properties in premier boating markets along the East Coast.  BMC is the second asset in the JV’s portfolio, adding to the joint venture’s acquisition of Harbor at Lemon Bay, a dry-stack marina located in the Sarasota submarket of Englewood, Florida.

“Consistent with Bain Capital’s thematic, customer-oriented investment approach, the marina sector benefits from several long-term secular growth drivers, including very high structural supply barriers, increased consumer spending on experiences, and sustained demand for larger boats,” said Andrew Terris, a Partner at Bain Capital.  “BMC represents a compelling opportunity to acquire an attractive asset in one of our highest conviction markets, and we look forward to building upon our partnership with the BlueWater team as we seek to assemble a best-in-class portfolio of marinas that is advantaged by high barrier-to-entry locations and BlueWater’s operational expertise.”

Strategically positioned, BMC offers a convenient location in a dense, affluent market near the Hillsborough Inlet.    Pompano Beach, a submarket of Fort Lauderdale, is a long-established boating market that benefits from heavy year-round boating traffic and features some of the strongest supply-demand imbalances in the country.

Miller, Powell and the BlueWater team have over 110 years of combined experience acquiring, developing, and operating marinas and previously successfully scaled a best-in-class portfolio as the founders and principals under a separate well-known marinas brand.  Commenting on the joint venture, Miller stated that “Bain Capital is an outstanding, highly aligned partner. Their reputation precedes them and we now understand why they are so highly regarded. We feel extremely fortunate to team with such a fine firm as we continue forward in the marina sector.”

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About Bain Capital Real Estate
Bain Capital Real Estate was formed in 2018 and pursues investments in often hard-to-access sectors underpinned by enduring secular trends that drive long-term demand growth for real estate assets and services. The Bain Capital Real Estate team has been executing its strategy since 2010 (formerly as a part of Harvard Management Company), having invested and committed over $9 billion of equity across multiple sectors. Bain Capital Real Estate focuses on assets where the team applies its deep industry expertise to accelerate impact and drive operational improvements. Bain Capital Real Estate’s strategy aligns with the value-added investment approach that Bain Capital pioneered and leverages the firm’s global platform and significant experience across asset classes to further bolster its insights and sourcing capabilities. Bain Capital is one of the world’s leading private investment firms with approximately $185 billion of assets under management. For more information, visit https://www.baincapitalrealestate.com/.

About BlueWater Marinas
Headquartered in Charleston, South Carolina, BlueWater Marinas will acquire, develop and operate coastal marina assets, including both dry and wet slips. Established by former executives and key team members of PORT 32 Marinas and Atlantic Marina Holdings, alongside several marina industry top performers, BlueWater Marinas brings unparalleled expertise in marina development and management, delivering exceptional service to its customers. With a proven track record, BlueWater Marinas will build and operate a distinguished portfolio of Class A marina assets in prime markets along the East Coast. For more information, please visit https://bw-marinas.com.

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Coller Capital partners with Barings Portfolio Finance and Ares on $2.4 billion structured funding vehicle to invest in private market secondaries

Coller Capital

London, April 17, 2025 – Coller Capital, the world’s largest dedicated private market secondaries manager, today announces that it has partnered with Barings Portfolio Finance and Ares Management Alternative Credit funds (“Ares”) to raise a $2.4 billion structured funding vehicle for Coller funds to invest in private market secondaries.

This innovative solution marks the largest-ever structured funding vehicle of its kind in the secondary market to invest in both private equity and private credit secondaries. This transaction was led by Coller’s Structured Solutions team and builds on the firm’s track record of capital raising through innovative structured solutions, the fifth such issuance since 2020.

Barings Portfolio Finance acted as the Lead lender for the transaction with Coller Capital and Ares providing the credit enhancement. Citi acted as agent on the transaction. KBRA provided a rating for the debt. Debevoise and Plimpton LLP served as legal counsel for Coller. Proskauer Rose LLP served as legal counsel for Ares. Cadwalader, Wickersham & Taft LLP served as counsel for Barings and Citi.

Remy Kawkabani, Deputy Managing Partner and Head of Capital Formation, Coller Capital, commented: “We are delighted to partner with Barings and Ares on this bespoke structured solution to invest in private market secondaries. Coller brings a 35-year track record of innovative firsts in private markets and we are pleased to lead on the largest-ever structured funding vehicle of its kind for private market secondaries.”

Ian Wiese, Managing Director, Barings Portfolio Finance, commented: “Coller and Barings have a long-standing relationship, and we are pleased to partner to develop an attractive investment grade solution that appeals to institutional investors. As this market continues to innovate, we believe, together with Coller, we will remain at the forefront of creating solutions and look forward to what lies ahead.”

Richard Sehayek, Managing Director, Co-Head of Europe for Ares Alternative Credit, commented: “We are excited to be able to support the Coller team during this dynamic period in global markets. This transaction underscores Ares’ ability to deliver creative, flexible capital solutions that provide important liquidity to market participants, and we look forward to the growing opportunities ahead.”

Mentions
Remy Kawkabani

Deputy Managing Partner and Head of Capital Formation
Press contact
Edelman Smithfield

coller@edelmansmithfield.com+44 (0)7980 684 247

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Egeria raises €1.25 billion with new private equity fund

Egeria

Egeria is pleased to announce the final close of its sixth private equity fund, Egeria Private Equity Fund VI (“EPEF VI”). EPEF VI closed at its hard cap of €1.25 billion and is more than 50% larger than its predecessor fund. EPEF VI will continue to build on the core principles that have defined Egeria’s success for more than 28 years: entrepreneurial partnerships in the Benelux and DACH regions, supporting exceptional teams to grow resilient, high-quality businesses.

EPEF VI continues Egeria’s historical focus on partnerships with founders and entrepreneurs in the mid-market. EPEF VI has already invested in partnerships with the entrepreneurs behind Meyer Menü, Den Berk Délice and Implico in the past months.

EPEF VI was oversubscribed and fully allocated within six months of its first closing. Demand significantly exceeded the fundraising target of €1 billion and attracted support from both a strong group of existing and new entrepreneurs, institutional investors including pension funds, asset managers, financial institutions and family offices mainly in Europe, Japan and the Americas.

Egbert Prenger (CEO Egeria Group): “We appreciate the vote of confidence from our investors, including a large number of entrepreneurs we previously worked with, and are excited to continue partnering with founders, management teams, and employees to build leading companies with a long-term focus on value creation. I’m very proud of the Egeria team that made this great accomplishment happen and we are looking forward to continuing our journey to invest in great companies.”

Mark Wetzels (PE Managing Partner): “In the past twenty-eight years, Egeria has built a strong name in the Benelux region and, in the last six years, extended its portfolio successfully in the DACH region. EPEF VI intends to see a growing number of DACH-based investments. By supporting entrepreneurs in their succession requirements and growth ambitions, the funds have been able to perform at the top quartile level of the industry, while developing and expanding fantastic companies. I am excited about the opportunity to continue making this lasting impact.”

About Egeria

With over 28 years of investment experience, Egeria is passionate about building healthy and growing businesses, developing great places to live and work, and engaging in meaningful dialogues with management teams.

Egeria is an active partner that aims to accelerate growth, both organically and through acquisitions. Egeria invests in healthy businesses in the Benelux, the DACH region, and North America with an enterprise value of up to €500 million, with the underlying principle that management is a co-owner.

Close to 14,000 people are employed by companies supported by Egeria, with an annual turnover of over € 2.5 billion. Egeria has approximately €3.5 billion in assets under management focused on supporting entrepreneurs in their growth ambitions and investing in real estate.

Next to supporting great companies, Egeria’s donation arm, Egeria Do, aims to provide financial support to projects that have a lasting positive impact on people and society. Egeria Do invests in projects that seek to achieve significant impact with an independent future perspective. Projects that aspire to be financially self-sustainable in the long term.

Egeria has offices in Amsterdam, Munich, Berlin, Boston and Zug.

Rede Partners acted as placement agent. Jones Day and Loyens & Loeff acted as legal and tax counsel. Poellath+ acted as German tax council.

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Currant Sea Investments B.V., an affiliate company of Warburg Pincus LLC and Platinum Invictus B 2025 RSC Limited, a wholly owned subsidiary of ADIA to Invest a combined total of ~ Rs. 7,500 crore in IDFC FIRST Bank to Fuel its Next Phase of Growth

Warburg Pincus logo

Mumbai, April 17, 2025: The Board of Directors of IDFC FIRST Bank, at its meeting held today, approved a preferential issue of equity capital (CCPS) amounting to approximately ₹4,876 crore to Currant Sea Investments B.V., an affiliate company of global growth investor Warburg Pincus LLC and approximately ₹2,624 crore to Platinum Invictus B 2025 RSC Limited, a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) managed by its Private Equities Department. The proposed issues are subject to shareholder and regulatory approvals.

Over the last six years, IDFC FIRST Bank has undergone a successful transformation from its legacy as an infrastructure-focused DFI to becoming a modern, technology-driven, pan-India, universal bank. In the process, it has made significant investments in distribution, technology, and talent to become a leading private sector bank in India.

During this time, deposits grew 6x, loans and advances doubled, and CASA ratio has significantly improved from 8.7% to 47.7%. PAT rose from a loss of ₹1,944 crore in FY19 to a profit of ₹2,957 crore in FY24. However, profitability dipped in 9M FY25 due to industry wide challenges in microfinance, which the bank has navigated well. With this fund raise, the overall capital adequacy will increase from 16.1% to 18.9%, (CET-1 ratio at ~16.5%, calculated on the capital position of the Bank as of December 31, 2024), strengthening the Bank’s balance sheet and positioning it for strong and self-sustaining profitable growth.

Mr. V Vaidyanathan, Managing Director & CEO, IDFC FIRST Bank: “From day one, we have always built our foundation of the Bank with a long-term vision of building a world class bank in India. We are building a culture of empathy for customers and strive to offer highest levels of customer service. We are technologically advanced and continue to stay cutting-edge.

The Bank has firmly moved into profits and is now at a pivotal stage, where our income growth is expected to consistently exceed OPEX growth, leading to improved operating leverage. We expect many businesses which are in the investment stage to turn profitable with scale.

It is great to have Warburg Pincus back and to welcome a wholly owned subsidiary of ADIA as our shareholder. We thank them both for believing in us and our future growth plans and for investing in us even under volatile global situations. We believe only by building a strong, respected franchise loved by customers and supported by strong unit economics, we will deliver sustainable long-term returns to our stakeholders.”

Vishal Mahadevia, Managing Director, Head of Asia Private Equity, and Global Co-Head of Financial Services, Warburg Pincus, said, “We believe the Indian banking sector presents an exciting opportunity and is poised for long-term growth. At Warburg Pincus, we have a long track record of partnering with exceptional teams. We have known the IDFC First Bank team for over a decade dating back to their early days and have closely seen the build out of the bank. We are excited to re-invest behind the IDFC First Bank team to support them in the next phase of growth and sustainable ROE improvement.”

Hamad Shahwan AlDhaheri, Executive Director of the Private Equities Department at ADIA, said, “IDFC First Bank has firmly established itself as one of India’s leading private sector banks, backed by a seasoned management team. It has expanded both its technology and branch infrastructure over number of years and is well positioned for the future. This investment is aimed at supporting the bank’s continued growth, enabling it to meet the rising demand for financial products in the country.”

About IDFC FIRST Bank

IDFC FIRST Bank is a new-age private bank in India, with a vision to create a world class bank in India, focused on Ethical, Digital, and Social Good Banking. It operates 971 branches spread over 60,000 locations including cities, towns, and villages across India. While it has a physical network, it is built as a digital first Bank in approach, scale and scope.

It is a full suite Universal Bank offering services across Retail, MSME, rural, corporate, wealth management, private banking, Fastag, cash management, NRI and treasury solutions. The Bank’s customer deposits are growing at 25.2% YoY and Loans & Advances growing by 20.3% YoY (as of March 31, 2025 as per provisional disclosure) based on friendly user digital interface, ethical approach, and a strong brand.

Bank’s mobile banking app was rated #1 in India and #4 globally by Forrester in Digital Experience: Indian Mobile Banking Applications, Q3 2024 and Digital Experience Review™: Global Mobile Banking Apps, Q4 2024.

Its employees believe that to create a world class bank in India is an incredible opportunity of their lifetimes.

About Warburg Pincus

Warburg Pincus LLC is the pioneer of private equity global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $87 billion in assets under management, and more than 220 companies in their active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies.

The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com.

About Abu Dhabi Investment Authority (ADIA)

Established in 1976, the Abu Dhabi Investment Authority (“ADIA”) is a globally diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation.

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Lexington Medical Secures Growth Investment from Ampersand Capital Partners

Ampersand

Bedford, Massachusetts, April 17, 2025 /PRNewswire/ – Lexington Medical (“Lexington”), a leader in minimally-invasive surgical stapling solutions, today announced a strategic investment by Ampersand Capital Partners (“Ampersand”), a private equity firm specializing in growth equity investments in the healthcare and life sciences sectors. The partnership underscores Ampersand’s confidence in Lexington’s potential to redefine surgical stapling standards and positions the company for accelerated growth in product innovation, smart manufacturing, and global market expansion.

Founded in 2013 and headquartered in Bedford, MA, Lexington Medical designs and manufactures high-performance endoscopic stapling devices, which are proudly made in the USA and used in a wide range of surgical procedures. With international offices in Switzerland, Australia, Germany, and the UK, and a team of approximately 150 employees, Lexington has built a patented portfolio of over 40 SKUs that are trusted by surgeons in more than 35 countries. Its flagship AEON™ and AEON™ Powered Stapling platforms are recognized as the most advanced stapling platforms available, featuring proprietary technologies that deliver superior clinical outcomes.

“The investment from Ampersand is a testament to Lexington’s impressive growth and strategic vision,” said Leon Amariglio, Founder and CEO of Lexington Medical. “This investment will expedite our innovation pipeline, expand our global reach, and create new opportunities for talented professionals to join us in shaping the future of surgical care, all while maintaining our commitment to best-in-class quality control and US manufacturing.”

“Lexington is an impressive company with a strong culture of innovation, exceptional leadership, and a commitment to quality and performance that is unmatched” said Trevor Wahlbrink, General Partner at Ampersand. “We are excited to partner with Leon and his team to further strengthen their position in surgical stapling.”

This partnership comes at a pivotal time as Lexington Medical expands its world-class team to meet the growing demand for its stapling solutions. Interested candidates and collaborators are invited to visit www.lexington-med.com/careers or contact careers@lexington-med.com to learn more about career and partnership opportunities.

About Lexington Medical

Founded in 2013, Lexington Medical, Inc. is a rapidly growing Bedford, Massachusetts-based company disrupting minimally invasive surgical stapling. Its AEON™ Endostapler sets the standard for precision, performance and clinical outcomes, trusted by surgeons in over 35 countries. Rooted in an engineering driven and talent-dense, collaborative culture, Lexington drives continuous innovation through U.S.-based design and manufacturing, working closely with leading surgeons to enhance patient outcomes. Learn more at www.lexington-med.com or follow us on LinkedIn.

About Ampersand Capital Partners

Ampersand Capital Partners, founded in 1988, is a middle-market private equity firm with $3 billion of assets under management, dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA, and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. For additional information, visit AmpersandCapital.com or follow us on LinkedIn.

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Toku Raises $48 Million Series A

Oak HC FT

Raising the largest A round ever for a LatAm female founder

Toku, an account receivable SaaS platform, announced today that it has raised $48 million in Series A funding, bringing its total funding to $55 million. With this fundraise, Toku and CEO Cristina Etcheberry have raised the largest Series A by a female founder in Latin America. The round was led by Oak HC/FT, representing its fourth fintech investment in LatAm in the past three years. Existing investors, including Gradient Ventures (one of Google’s investment funds), F-Prime, Clocktower, Y Combinator, and Honey Island by 4UM, also participated.

Toku’s software connects companies’ ERPs with banks and payment rails, enabling payment orchestration and automated collections. Its suite includes customizable payment portals, automated reconciliations, and optimized collection strategies. In Latin America, where automatic payment adoption is low, Toku increases automated payment methods from 10% to 90%, significantly boosting companies’ revenue. By leveraging real-time data, Toku automates the entire payment cycle – from method selection to customer engagement – enhancing both efficiency and user experience.

The company is focused on Mexico, Brazil, and Chile, serving mid-market to enterprise businesses in sectors like insurance, credit, education, real estate and utilities, handling collections from $10 million to $10 billion. The newly raised funds will be deployed to double down on its existing go-to-market strategy, while accelerating its product development. In 2024, Toku more than doubled in revenue, tripled its TPV, and achieved 160% net dollar retention.

Across Latin America, Toku now has more than 150 employees and serves more than 450 enterprises, including Chevrolet, Mapfre, Liverpool, and MetLife.

“Latin America still heavily relies on manual and inefficient payment collection processes, creating challenges for businesses and frustrating customers,” said Cristina Etcheberry, CEO of Toku. “These outdated methods lead to high delinquency rates and unnecessary friction. This latest investment round further validates the demand for Toku’s solutions, and we are excited to bring our technology to even more companies and regions,” added Etcheberry, who grew up in Chile in an entrepreneurial and finance-focused family.

“Mid-to-large enterprises in Latin America are navigating high operational costs, complex payment infrastructures, and increasing delinquency rates,” said Allen Miller, Partner at Oak HC/FT. “Toku is addressing this pain point and empowering businesses across diverse industries with its seamless, world-class payment technology. We are thrilled to partner with the Toku team and look forward to supporting the company in this next phase of growth.”

Toku was founded with the mission to free Latin American enterprises from outdated processes, manual tasks, an inflexible software stack, and unnecessary risks. The company ensures that businesses receive their revenue reliably and cost-effectively while enhancing the payment experience for their customers. “We aim to provide peace of mind, acting as a trusted partner that safeguards our clients’ revenue streams. By enabling businesses to focus on their core operations without added payment concerns, we help them achieve their goals. Our impact may be indirect, but it is significant – we continuously work alongside our clients to refine our services, aiming to reach over 100 million people in the next few years,” concluded Cristina Etcheberry.

For more information about Toku and its innovative payment solutions, visit www.trytoku.com.

About Toku

Toku is a leading financial technology company in Latin America, specializing in comprehensive payment solutions. Founded in 2020, Toku provides tailored payment solutions to industries with recurring payments, empowering businesses to increase revenue while minimizing costs through efficient payment processing and enhanced customer experiences. With operations in Mexico, Chile, and Brazil, Toku is committed to transforming the financial landscape in Latin America. For more information, visit www.trytoku.com

‍About Oak HC/FT

Oak HC/FT is a venture and growth equity firm specializing in investments in fintech and healthcare. Using partnership as a foundation, Oak HC/FT guides companies and founders at every stage, from seed to growth, to create businesses that make a measurable and lasting impact. Founded in 2014, Oak HC/FT has invested in over 85 portfolio companies and has over $5.3 billion in assets under management. Oak HC/FT is headquartered in Stamford, CT, with an office in San Francisco, CA. Follow Oak HC/FT on LinkedIn and X and learn more at https://www.oakhcft.com/.

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