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Avistone Pharmaceuticals Secures $200 Million Strategic Investment from Vivo Capital, Bain Capital and Primavera Capital

BainCapital

The strategic investment will also support the accelerated development of Avistone’s existing drug candidates, expand its product pipeline through both research and development efforts and business development, enable the combined business to capitalize on opportunities in key markets outside of China, and scale its capabilities to prepare for commercialization.

Based in Beijing, China, Avistone has been committed to the development of precision oncology therapeutics for nearly a decade and has a broad oncology pipeline focused on treatments for lung cancer.  The Company’s most advanced asset is a c-Met inhibitor in late-stage clinical development for genetically-defined populations of non-small cell lung cancer (NSCLC) and glioblastoma (GBM).  This product candidate has been awarded Breakthrough Therapy designation by China’s National Medical Products Administration (NMPA).  In addition, Avistone has an innovative pipeline of tyrosine kinase inhibitors for other molecular drivers of cancer that includes another drug candidate currently in a Phase I dose escalation clinical study.  The Company also has several therapeutic compound candidates in pre-clinical and IND-enabling studies.

“Avistone is a science-driven, innovative biotechnology company committed to the discovery and clinical development of first-in-class and best-in-class drugs,” said Dr. Hepeng Shi, Chairman, CEO, and Founder of Avistone.  “We are thrilled for our company, team, and product pipeline to be recognized by such well-established global life sciences investors as Vivo Capital, Bain Capital, and Primavera Capital.  We look forward to leveraging their resources and capabilities to realize our vision to become a global oncology leader that provides more effective treatment options and improves quality of life for patients around the world.”

“Vivo Capital is excited to have the opportunity to lead this transformative financing for Avistone.  The deal exemplifies Vivo’s investment capabilities in both innovation and private equity transactions in China, as well as extraordinary collaborations both internally, led by Drs. Hongbo Lu and David Liu, and externally, joined by Bain Capital and Primavera Capital.” said Shan Fu, Managing Partner and CEO of Greater China for Vivo Capital.  “As a global biotech investor with 25 years of history, Vivo is excited to witness the rapid emergence of the Chinese biotech industry. We have known the Avistone team for many years, and we see tremendous value in Avistone’s capabilities in both innovative drug R&D and execution in China.  We look forward to partnering with Bain Capital and Primavera Capital to help Avistone bring life-saving therapeutics to patients around the world,” added Dr. Hongbo Lu, Managing Partner and CIO of Greater China for Vivo Capital.

“Over the past several years, Bain Capital Life Sciences and Bain Capital Asia Private Equity have systematically studied the life sciences landscape in China to identify the most attractive therapeutic areas and the most promising companies, and this exciting investment represents a culmination of our cross-platform efforts,” said Ricky Sun, a Managing Director at Bain Capital Life Sciences.  “We are excited to collaborate with Dr. Shi and his team, and to provide the necessary resources to enable the Company to build a best-in-class targeted oncology platform that brings transformative products to patients all over the world.”

“The era of precise and personalized cancer treatment has arrived after years of development. However, there are still considerable clinical needs that have not been met,” said Jiaqi Zheng, Managing Director of Primavera Capital. “As pioneers in the China pharmaceutical industry, Dr. Shi and his team have accumulated a great deal of expertise in drug discovery and clinical development of targeted therapies.  We are delighted to become an investor and strategic partner of Avistone and are committed to supporting the Company’s mission of becoming a leading global biopharmaceutical platform of innovative precision therapeutics.”

About Avistone Biotechnology
Avistone is a clinical-stage biotechnology company based in Beijing, China, focusing on researching and developing innovative therapies for patients with significant unmet medical needs globally. The company’s core team comprises experienced drug design and clinical development experts, supported by a scientific advisory committee that includes internationally renowned KOLs. Avistone has an extensive pipeline of targeted therapies for molecular drivers of cancer, including two clinical-stage drug candidates and several ongoing programs in the pre-clinical development stage.

About Vivo Capital
Founded in 1996, Vivo Capital is a leading global healthcare investment firm with a multi-fund investment platform in venture capital, growth equity, buyout, and public equities. Vivo has approximately $5.8 billion in assets under management and has invested in over 315 public and private companies worldwide. Headquartered in Palo Alto, California, with additional offices in Asia, the Vivo team is comprised of diverse talents spanning scientific, operating, and financial backgrounds, working collaboratively via a single team approach.  Vivo invests broadly in healthcare across all sub-sectors in the healthcare industry, including in biotechnology, pharmaceuticals, medical devices, life science tools, diagnostics, health tech and healthcare services.

About Bain Capital
Founded in 1984, Bain Capital, LP is one of the world’s leading private multi-asset alternative investment firms with offices on four continents and deep experience in healthcare. Bain Capital manages approximately $150 billion across asset classes and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.  Bain Capital Life Sciences (www.baincapitallifesciences.com) pursues investments in biopharmaceutical, specialty pharmaceutical, medical device, diagnostics and enabling life science technology companies globally. The team focuses on companies that both drive medical innovation across the value chain and enable that innovation to improve the lives of patients with unmet medical needs.  Bain Capital Private Equity (http://www.baincapitalprivateequity.com) has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive. A team of more than 275 investment professionals creates value for portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare.

About Primavera Capital
Primavera Capital is a premier China-based global investment firm with offices in Beijing, Hong Kong, Singapore and Silicon Valley. Founded by respected economist Dr. Fred Hu in 2010, Primavera Capital manages approximately USD 15 billion in assets across both RMB and USD funds for leading institutions, corporations and prominent family offices around the world. Primavera Capital seeks the best opportunities from China’s historic transition from a middle-income to an advanced economy and focuses on consumer and retail, technology, healthcare, financial services, and carbon neutrality related sectors.

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AnaCap’s portfolio company MRH Trowe makes 11th bolt-on acquisition in a year with speciality broker Helmig & Partner

Anacap

Acceleration of buy-and-build strategy with 11th add-on acquisition within 12 months making 2021 the most active year in the Group’s history in terms of deal execution

– Expansion of MRH Trowe’s client coverage now complemented by specialty broker Helmig & Partner

– Geographical footprint and sales capabilities strengthened in the North Rhine-Westphalia region of Germany

AnaCap Financial Partners (“AnaCap”), a leading specialist mid-market private equity investor in technology enabled financial services, today announced that its portfolio company MRH Trowe (“MRHT” or “the Group”), a leading owner managed commercial lines insurance broker in Germany,  has successfully signed its 11th bolt-on acquisition of the year with Olfen-based speciality broker Helmig & Partner (“the Company”).

Helmig & Partner is the nationwide leading speciality broker for bakery chains, currently serving more than 300 clients in the sector with 44 employees and a wide range of pension and non-life insurance products. The Company is one of the strongest franchises of North Rhine-Westphalia, having grown its turnover by more than 15% on average over the past 3 years.

This latest acquisition, which is expected to close in January 2022, underpins the strategic roadmap undertaken by the Group aimed at expanding in-house capabilities in specialty lines insurance and strengthening its geographical coverage. In Helmig & Partner, MRHT has identified the right add-on to complement its customer target group and consolidate its presence in Western Germany. This addition allows the Group to fortify its local sales capabilities and better serve its network of saving banks, while generating revenue synergies from cross-selling initiatives.

The acquired company, whose founding managers will remain operationally involved in line with MRHT’s historical M&A approach, is expected to contribute €5 million of revenue to the Group in 2022. As a result of the acquisition, the Group is now on track to deliver more than €80 million of run-rate revenue.

Ralph Rockel, Co-Founder and Board Member at MRH Trowe, commented:

Tassilo Arnhold, Private Equity Partner at AnaCap, added:

Dec 08 2021

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Mentha realizes stake in HB Returnable Transport Solutions following successful investment period

Mentha Capital

Mentha Capital (“Mentha”) has realised its investment in HB Returnable Transport Solutions (“HB” or the “Company”), a leading provider of rental, washing and integrated logistics for returnable transport items (“RTIs”) in the Dutch food supply chain. In early 2017, Mentha acquired a majority stake in HB alongside the Company’s founders and management. Over the past five years, Mentha has actively supported HB’s rapid growth and professionalization.

Arcus Infrastructure Partners (“Arcus”), through Arcus European Infrastructure Fund 2 SCSp (“AEIF2” or the “Fund”), acquired 100% of HB from its existing shareholders. As part of the transaction, HB senior management will reinvest in the Company alongside the Fund.

HB, founded in Welsum (the Netherlands) in 2008, provides an integrated offering of RTI rental, washing and logistics services to a diverse and blue-chip customer base in the Dutch food and beverage supply chain, ensuring the safe and sustainable transport of consumable products from suppliers to consumers. The main RTIs handled by HB are plastic crates and pallets, which serve as essential load carriers for products being transported from production locations to distribution centres, foodservice outlets and supermarkets across the Netherlands. These reusable load carriers are critical assets within the circular economy, ensuring reliable and efficient transport, while minimising the use of single-use, one-way packaging in a variety of fast-moving supply chains. With an asset pool of 2.8 million RTIs and a network of 10 strategically located washing and logistics facilities across the country, HB provides vital RTI logistics infrastructure and an integrated one-stop shop solution for its customers.

Commenting on the acquisition, Léon Rust, CEO of HB said: “First of all we want to thank Mentha for their great support over the last five years. Together with the Mentha team we made great effort in further professionalizing the company and growing the business. With Arcus as our new shareholder, we will embark on an exciting new phase of growth in our business. From our first meeting, it was clear that Arcus already had a deep knowledge of our industry, which serves as an important criteria for our team as we look to grow with a new partner. We look forward to working with the Arcus team as we improve and build on our core customer offering, explore new verticals within the RTI space and maximise the sustainability benefits of our business. Our belief is that our network of washing and logistics facilities, together with our extensive RTI pool, is a unique proposition to reduce transport distances (and therefore carbon footprint and logistics costs) within the food and beverage supply chain.”

Mark van Ingen, Partner at Mentha, commented: “It was a pleasure to team up with HB, its founders, management and employees. Over the past five years, everyone has worked very hard to further improve HB with the aim to strengthen its position as a leading RTI service provider in the Netherlands. Together we have invested in machines and automation, increased productivity, added new customers and bolstered the organisation. This has resulted in a strong and professional player in the RTI space. We are extremely proud of what has been accomplished and I would like to thank everybody for their contribution. With Arcus onboard we believe HB has found a very knowledgeable and committed partner to continue its journey to further improve and grow the company. We wish them all the best in their period of ownership and we will be interested to see how the company develops further.”

Ian Harding, Managing Partner at Arcus said: “We are extremely pleased to announce this investment in HB today. This acquisition is our seventh investment for AEIF2 and HB is a perfect fit with the Fund’s investment strategy of targeting mid-market, value-add infrastructure businesses in Europe. HB is a great addition to the Arcus portfolio.”

Jordan Cott, Arcus Partner who led the Fund’s acquisition said: “HB is a clear market leader in the RTI space in the Netherlands and has a proven track record of growth alongside its long-term customer base. The Company’s RTIs are essential assets within food and beverage supply chains, ensuring cost-efficient, reliable and sustainable transport of a wide range of products. These benefits are complemented by HB’s network of washing and logistics facilities, which are strategically located to enable customers to minimise transport distances and reduce the industry’s overall carbon footprint. We expect that HB and its customers will see significant and tangible benefits from strong RTI industry tailwinds over the coming years and look forward to working with Léon and the HB team as they continue to innovate and grow with their customers.”

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Centauri Health Solutions Adds Clinical Data Exchange Capabilities with Acquisition of Secure Exchange Solutions

Centauri Health Solutions (“Centauri”), an innovative healthcare technology and services company, announced today that it acquired Secure Exchange Solutions (“SES”), a Rockville, Maryland-based health information technology provider focused on physician connectivity and clinical data exchange. This addition expands Centauri’s comprehensive healthcare technology solutions, which already include Risk Adjustment, Quality, Medicaid and Disability Eligibility and Enrollment, Out-of-State Medicaid Billing, Revenue Cycle Analytics, and Referral Management and Analytics.

Secure Exchange Solutions is the leading platform provider of cloud-based clinical data exchange software. SES sets the standard for protecting, streamlining, and delivering sensitive and critical health care information while ensuring compliance and improving efficiency and quality. SES is connected to 90,000 healthcare organizations, and over 50 of the leading health information exchanges, providing integrated secure communications reaching more than 2.7 million healthcare professionals nationwide.  The combination of Centauri and SES creates a suite of solutions that accelerate improvement of patient care while addressing value-based care.

“SES is pleased to join a company that is built around the similar goal of leveraging technology to improve healthcare and patients’ lives,” said Michele Darnell, President of SES. “We are excited to couple our clinical data exchange platform with Centauri’s suite of data analytics and revenue and quality optimization products to provide comprehensive solutions that are unmatched in the marketplace.”

“The addition of SES empowers Centauri to support strategic client initiatives in the area of value-based care and clinical data exchange,” said Adam Miller, Centauri co-founder and CEO. “Promoting provider and payor collaboration through our standards-driven approach reduces time to implement and increases adoption versus proprietary software installation. In addition, our unique suite of solutions on the revenue side of the value-based care equation is additive to traditional solutions focused only on lowering the overall cost of care.”

The combined organization will be led by Miller, with Darnell continuing to oversee the SES division together with SES Chief Technology Officer Boris Shur. SES CEO Dan Kazzaz will engage strategically with Centauri by joining its advisory board.

The SES transaction was supported by Centauri’s lead investor, Abry Partners, and its other key investors, Silversmith Capital Partners and SV Health Investors. Truist Securities was the financial advisor to SES. Duane Morris LLP was the legal advisor to SES and Kirkland and Ellis was the legal advisor to Centauri.

About Centauri Health Solutions

Centauri Health Solutions provides technology and technology-enabled services to payors and providers across all healthcare programs, including Medicare, Medicaid, Commercial and Exchange. In partnership with our clients, we improve the lives and health outcomes of the members and patients we touch through compassionate outreach, sophisticated analytics, clinical data exchange capabilities, and data-driven solutions. Our solutions directly address complex problems such as uncompensated care within health systems; appropriate, risk-adjusted revenue for specialized sub-populations; and improve access to and quality of care measurement. Headquartered in Scottsdale, Ariz., Centauri Health Solutions employs 1700 dedicated associates across the country. Centauri has made the prestigious Inc. 5000 list since 2019, as well as the 2020 Deloitte Technology Fast 500™ list of the fastest-growing companies in the U.S. For more information, visit www.centaurihs.com.

About Abry Partners

Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since its founding in 1989, the firm has completed over $90 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5 billion of capital across its active funds. For more information about Abry, please visit www.abry.com.

About Silversmith Capital Partners

Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $2.0 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. Representative investments include ActiveCampaign, Appfire, Centauri Health Solutions, DistroKid, Impact, LifeStance Health, MediQuant, Panalgo, Unily, Validity, and Webflow. The partners have over 75 years of collective investing experience and have served on the boards of numerous successful growth companies including ABILITY Network, Archer Technologies, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Net Health, Passport Health, SurveyMonkey, and Wrike. For more information about Silversmith, please visit www.silversmithcapital.com.

About SV Health Investors

SV Health Investors is a leading healthcare fund manager investing in tomorrow’s healthcare breakthroughs. SV invests across stages, geographic regions and sectors, with expertise spanning healthcare services / technology, medical products, biotechnology, dementia and public equities. With approximately $2.2B in assets under management and offices in Boston and London, SV has built an extensive network of investment professionals and experienced industry veterans. Since its founding in 1993, SV has invested in more than 175 companies, with more than 75 of these having achieved successful acquisitions or IPOs. For more information, please visit www.svhealthinvestors.com.

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Notpla secures £10M to industrialize sustainable packaging made of seaweed, including flexible films, coatings and paper

Horizons Ventures
  • Close of a £10 million Series A financing round for sustainable packaging start-up Notpla
  • Round led by Horizons Ventures, with participation from existing investors Astanor Ventures, Lupa Systems and Torch Capital.
  • Funding will accelerate the commercialization of Oohos and Notpla coating, and will support the industrialization of new innovative Notpla products, including flexible films and paper.

Sustainable packaging startup Notpla announced today the close of a £10 million Series A financing round. The round was led by Horizons Ventures, with participation from existing investors Astanor Ventures, Lupa Systems and Torch Capital.

Founded in 2014 by two Imperial College London and Royal College of Art alumni, Rodrigo Garcia Gonzalez and Pierre-Yves Paslier, Notpla’s mission is to make packaging disappear by providing a sustainable alternative to plastic packaging using seaweed. This new round of funding will enable the London startup to grow its manufacturing capacity while developing new innovative solutions, among which a transparent flexible film and a seaweed paper.

Notpla (a play on the term ‘Not Plastic’) is harnessing the power of seaweed to replace single-use plastic, one of the leading causes of environmental pollution across the globe. The UN Environment Programme estimates that only 9% of all plastic waste ever produced has been recycled, while 12% has been incinerated and the remaining 79% has accumulated in landfills, dumps, or the natural environment.

Seaweed is one of the planet’s most abundant sources of biomass (growing at a rate up to 1 metre per day), its production does not compete with food crops, requires no fertiliser or fresh water to produce and actively sequesters carbon dioxide. In line with the new EU Single-Use Plastic Directive which aims to ban synthetic materials such as PLA, PHA and other bioplastics, Notpla’s products easily biodegrade in nature in just 4-6 weeks without the need for industrial composting or special conditions. The EU’s ambitious targets cannot be achieved without innovative solutions like Notpla.

Notpla is best known for its sustainable packaging solution “Ooho” – an edible and fully biodegradable packaging made of seaweed – to date, Oohos has replaced over 500,000 single-use plastic packaging at major international events such as the London Marathon with Lucozade and London Cocktail Week with Glenlivet.

Notpla launched in 2021 the first seaweed coating for cardboard packaging. Unlike regular boxes, the Notpla boxes are biodegradable and recyclable. Successful trials of 30,000 boxes led to the commercial launch of the Notpla box with Just Eat Takeaway.com to hundreds of UK restaurants. This innovative packaging will progressively expand to Just Eat’s 26 countries and onboard new customers in the foodservice industry.

The startup’s product pipeline is filling up with exciting new plastic-free solutions. This latest funding round will help accelerate the industrialisation of Notpla’s flexible, biodegradable films – a packaging alternative for dry products that are currently in plastic sachets. Applications include packaging for hygiene, cleaning products such as detergents or pre-portioned foods such as pasta, coffee and drink flavourings. With no other readily biodegradable, biobased, and flexible solutions on the market, these applications are in high demand from brands that are struggling to effectively remove plastic from their product ranges. Notpla has completed successful lab trials and is now currently working on scaling up the process with several commercial partners.

The funds will also support the development of Notpla’s seaweed fibre paper made from the by-products of the company’s industrial processes. This seaweed paper requires 30% less wood pulp than conventional paper, lowering pressure on forests while reducing waste from the seaweed supply chain, making it a first-class sustainable solution. Notpla is collaborating with fashion and luxury brands to develop premium sustainable solutions for secondary packaging such as boxes, envelopes or sleeves.

Wayne Cheng, Portfolio Curator at Horizons Ventures, said: “We are excited to join Notpla’s journey to make packaging disappear. Conscious of the urgency to act on single-use plastic pollution, we’ve been impressed by the innovative solutions offered by this team of ambitious entrepreneurs. We believe Notpla is revolutionising the packaging industry with seaweed as a raw material.”

Pierre-Yves Paslier, Co-CEO of Notpla added: “We are delighted to accelerate the pace towards a zero single-use plastic future. This new round coupled with soon-to-be-announced commercial partnerships is the perfect opportunity to put seaweed on the map of packaging solutions. At Notpla we believe that “Nature knows best”, and we only use naturally occurring materials that have had millions of years to adapt with the rest of the environment. Our new films and seaweed paper are great examples of this principle and are the most sustainable solution in their categories. We’re excited to see traction in the food service industry and are looking forward to moving into the cosmetics and fashion markets very soon.”

For more information, visit www.notpla.com

For pictures and videos, discover Notpla press pack

-Ends –

About Notpla (www.notpla.com)

Founded in 2014, Notpla is a sustainable packaging company based in London that has pioneered the use of seaweed as an alternative to single-use plastic. The startup is addressing both the environmental and health implications of single-use plastic pollution by using only natural materials like seaweed that can biodegrade in nature in 4 to 6 weeks. Notpla has received multiple awards and grants from Innovate UK and the Ellen Macarthur Foundation for its innovative product “Ooho” – an edible and fully biodegradable sachet.

About Horizons Ventures (www.horizonsventures.com)

Horizons Ventures was co-founded by Solina Chau and Debbie Chang in 2005. It is known for backing era-defining companies making lasting and positive impact in the world. Amongst its string of notable early stage investments are Zoom, Impossible Foods, Perfect Day, Spotify, Siri and DeepMind, reflecting Horizons Ventures’ methodical long-term investment approach.

About Astanor Ventures (www.astanor.com)

Astanor Ventures is a global impact investor that backs ambitious entrepreneurs with disruptive, scalable solutions that will create systemic change across the agrifood value chain, from soil to gut. They partner with ambitious, impact-driven founders who are committed to restoring balance and sustainability to the land and oceans, prioritizing nature and culture, nurturing change and feeding growth.

For further information, or to arrange an interview, please email info@notpla.com

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True Fit secures $15 million credit facility from Espresso Capital

espresso capital

Boston — December 8, 2021 —  Espresso Capital announced today that it has provided True Fit, the global data and software leader retailers choose to decode fit & size, with a $15 million credit facility. The company will use the capital to make further enhancements to its product and scale its distribution.

“The pandemic has brought massive disruption to the apparel industry,” said William R. Adler, President & CEO of True Fit. “With the shift to digital shopping, we’ve experienced unprecedented demand for our product. Espresso’s facility allows us to make important investments in our business so that we’re better positioned to meet that demand and further optimize our business for growth.”

True Fit is the only platform that solves online fit at scale, serving high-fidelity, trusted experiences for shoppers everywhere. True Fit’s Fashion Genome is the world’s largest connected data platform, fueling AI-driven models that combine product attribution for 17,000 brands, $250 billion in cross-market buying behavior, and first party preference data from over 200 million registered True Fit members. The Fashion Genome underscores exceptional software and data services that brands and retailers use to personalize the buying experience online. This focus on customer experience across leading sites from PacSun to Under Armour to Boden translates to a 2-5 percent lift in revenue, driven by a +47 percent increase in order rate.

“True Fit solves a massive and real pain point for consumers by giving them the confidence that clothing and shoes purchased online will fit,” says Espresso Capital Director, Mark Gilbert. “This drives higher basket sizes at checkout, higher customer satisfaction, and lower return rates. They have a great team and are well positioned to take advantage of the tailwinds bolstering their industry.”

True Fit has nearly doubled its annual recurring revenue since the pandemic began. Adoption of its platform is up 109 percent and the company currently has an active base of 82 million active members.

“Espresso really listens,” said Adler. “They knew what was most important to us and demonstrated great flexibility in their model to create a win-win deal for everyone. They’ve been great to work with and we appreciate that they take a long-term, relationship-first approach to partnering.”

“It’s an exciting time for True Fit,” noted Justin LaFayette, Lead Investor at Georgian, one of the company’s sponsors. “The recent investment allows the team to make major innovations in its Fashion Genome platform and customer experience.”

About True Fit

True Fit is the leading consumer experience platform leveraged by apparel and footwear retailers to decode fit and connect shoppers with only what they love. It has organized the broadest footwear, apparel and consumer data in the world to provide best in class fit recommendations covering the industry’s brands and styles. The platform is leveraged by the world’s leading footwear and apparel retailers, representing 17,000 brands and 82 million active members. True Fit’s data platform underscores exceptional software and data services that brands and retailers utilize to personalize the buying experience online. TrueFit.com

About Georgian

At Georgian, we’re building a platform to provide a better experience of growth capital to software company CEOs and their teams. Georgian’s platform is designed to identify and accelerate the best growth-stage software companies, taking an intelligent, data-first approach to solving the key challenges CEOs face as they grow their businesses. We invest in high-growth companies across North America that harness the power of data in a trustworthy way. Based in Toronto, Georgian’s team brings together software entrepreneurs, machine learning experts, experienced operators and investment professionals. Georgian.io

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 espressocapital.com.

Media contact

Kevin Cain
Head of Marketing
kcain@espressocapital.com

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NZXT Secures First-Ever Strategic Investment Led By Francisco Partners

Franciso Partners
ess Release – December 08 2021

New Investment Will Support Continued Expansion and Product Growth

City of Industry, CA – December 8, 2021 – NZXT, a leader in PC gaming hardware and services, today announced it has secured a strategic investment of approximately $100 million led by Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses. This investment will allow NZXT to bring on more senior talent, expand its product offering to include new hardware categories, expand its direct-to-consumer offering in new global markets, invest more in the community, and focus on continuing to build the NZXT brand.

In addition to Francisco Partners, strategic investors in NZXT also include top leaders and entrepreneurs across multiple industries, reflecting how PC gaming connects many different worlds. This group of investors includes (but is not exclusive to):

  • Kevin Lin – Co-Founder of Twitch
  • Vanessa Dew – Co-Founder & CSO of Health-Ade Kombucha
  • Patrick Lee – Co-Founder of Rotten Tomatoes
  • James Lin – Co-Founder of CrunchyRoll
  • Eddie Hartman – Co-Founder of LegalZoom
  • James Park – Co-Founder & CEO of Fitbit, Inc.
  • Kevin Ma – Founder of Hypebeast
  • Michael Chen – Co-Founder and President of Pokeworks

“We have always been laser-focused on our community and meeting their needs. As the industry and the world around us has evolved, we realized it was time to reach out for strategic guidance and invest more deeply in all of the things our community has been asking for,” said Johnny Hou, CEO of NZXT. “Francisco Partners’ track record and expertise helping successful technology companies take their growth to the next level made them the ideal partner for us. We look forward to working closely with their team as they not only understand the challenges we face and where our priorities are, but most importantly, they are as committed to our community as we are.”

As a part of this investment, Hou will remain the majority shareholder and maintain control of the company and day-to-day operations. Alan Ni from Francisco Partners will also join NZXT’s Board of Directors.

“Under Johnny’s visionary leadership, NZXT has established itself as both a leader and innovator in the PC gaming industry with products that are designed to make PC gaming more achievable and accessible for everyone across the gaming community,” said Alan Ni, who leads consumer internet investing at Francisco Partners. “As NZXT enters this next phase of growth, we are excited to partner with Johnny and the entire team to help them scale the business and expand into new products built to serve the needs of gamers across the world.”

NZXT will remain focused on creating seamless experiences for PC gamers with products that include top quality PC cases, coolers, fans, and accessories including the newly released Capsule microphone. The Company will continue to offer PC gaming enthusiasts the opportunity to purchase customized ideal set-ups or pre-built systems, including the NZXT BLD Kit for the first-time builder. The BLD Kit comes complete with all of the components, tools, and guidance necessary for those who are new to PC gaming and are looking for a hands-on experience. With the BLD Kit in addition to a growing roster of configuration and support services, NZXT now has solutions for those at all experience levels – making PC gaming more achievable and seamless for everyone.

For more information about NZXT, please visit www.nzxt.com or follow the company on Twitter at:https://twitter.com/nzxt.

About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. With more than $30 billion in assets under management, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.

About NZXT
Founded in 2004, NZXT is dedicated to making PC gaming achievable to all of those with a passion for play. With design in mind, NZXT makes award-winning products that allow for a personalized approach to building PC’s. Their first products were computer cases and they have since expanded to include PC cooling solutions, RGB lighting kits, components, power supplies, and their free PC performance monitoring software, NZXT Cam. They have recently expanded to include new categories like Audio featuring the Capsule Microphone and BLD Kit– an exclusive experience for first-time builders. NZXT also has launched their CRFT line of products, bringing their PC design mindset together with some of entertainment’s most popular brands to create limited-edition cases and accessories for gaming enthusiasts. NZXT remains committed to serving the PC gaming community and keeping their needs at the core of who we are.

Media Contacts:

Francisco Partners
Kate Sylvester
ksylvester@sloanepr.com

NZXT
Tali Fischer
tali.fischer@nzxt.com

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Arcus announces the acquisition of Netherlands-based HB Returnable Transport Solutions, AEIF2’s seventh investment

Arcus

8 December 2021

London, United Kingdom (8 December 2021) – Arcus Infrastructure Partners (“Arcus”) announces today that Arcus European Infrastructure Fund 2 SCSp (“AEIF2” or the “Fund”) has completed the acquisition of 100% of HB Returnable Transport Solutions (“HB” or the “Company”), a leading provider of rental, washing and integrated logistics for returnable transport items (“RTIs”) in the Dutch food supply chain, from a selling shareholder group, including Mentha Capital (“Mentha”) and the Company’s founders. As part of the transaction, HB senior management will reinvest in the Company alongside the Fund.

HB, founded in Welsum (the Netherlands) in 2008, provides an integrated offering of RTI rental, washing and logistics services to a diverse and blue-chip customer base in the Dutch food and beverage supply chain, ensuring the safe and sustainable transport of consumable products from suppliers to consumers. The main RTIs handled by HB are plastic crates and pallets, which serve as essential load carriers for products being transported from production locations to distribution centres, foodservice outlets and supermarkets across the Netherlands. These reusable load carriers are critical assets within the circular economy, ensuring reliable and efficient transport, while minimising the use of single-use, one-way packaging in a variety of fast-moving supply chains. With an asset pool of 2.8 million RTIs and a network of 10 strategically located washing and logistics facilities across the country, HB provides vital RTI logistics infrastructure and an integrated one-stop shop solution for its customers.

Commenting on the acquisition, Ian Harding, Managing Partner at Arcus said: “We are extremely pleased to announce this investment in HB today. This acquisition is our seventh investment for AEIF2 and HB is a perfect fit with the Fund’s investment strategy of targeting mid-market, value-add infrastructure businesses in Europe. HB is a great addition to the Arcus portfolio.”

Jordan Cott, Arcus Partner who led the transaction said: “HB is a clear market leader in the RTI space in the Netherlands and has a proven track record of growth alongside its long-term customer base. The Company’s RTIs are essential assets within food and beverage supply chains, ensuring cost-efficient, reliable and sustainable transport of a wide range of products. These benefits are complemented by HB’s network of washing and logistics facilities, which are strategically located to enable customers to minimise transport distances and reduce the industry’s overall carbon footprint. We expect that HB and its customers will see significant and tangible benefits from strong RTI industry tailwinds over the coming years and look forward to working with Léon and the HB team as they continue to innovate and grow with their customers.”

Léon Rust, CEO of HB commented: “First of all we want to thank Mentha for their great support over the last five years. Together with the Mentha team we made great effort in further professionalizing the company and growing the business. With Arcus as our new shareholder, we will embark on an exciting new phase of growth in our business. From our first meeting, it was clear that Arcus already had a deep knowledge of our industry, which serves as an important criteria for our team as we look to grow with a new partner. We look forward to working with the Arcus team as we improve and build on our core customer offering, explore new verticals within the RTI space and maximise the sustainability benefits of our business. Our belief is that our network of washing and logistics facilities, together with our extensive RTI pool, is a unique proposition to reduce transport distances (and therefore carbon footprint and logistics costs) within the food and beverage supply chain.”

Mark van Ingen, Partner at Mentha said: “It was a pleasure to team up with HB, its founders, management and employees. Over the past five years, everyone has worked very hard to further improve HB with the aim to strengthen its position as a leading RTI service provider in the Netherlands. Together we have invested in machines and automation, increased productivity, added new customers and bolstered the organisation. This has resulted in a strong and professional player in the RTI space. We are extremely proud of what has been accomplished and I would like to thank everybody for their contribution. With Arcus onboard we believe HB has found a very knowledgeable and committed partner to continue its journey to further improve and grow the company. We wish them all the best in their period of ownership and we will be interested to see how the company develops further.”

Arcus was advised by Allen & Overy (legal), EY-Parthenon (commercial due diligence), Royal HaskoningDHV (technical due diligence) and BDO (financial and tax due diligence).

HB and the selling shareholder group were advised by Rabobank (M&A), JB Law (legal), SINCERIUS (financial due diligence) and JSA Tax (tax).

8 December 2021

– ENDS –

Arcus Media Contacts:

 

Debbie JohnstonE: debbie@sprengthomson.com

+44 7532 183811

About Arcus

Arcus Infrastructure Partners is an independent fund manager focused solely on long-term investments in European infrastructure. Arcus invests on behalf of institutional investors through discretionary funds and special co-investment vehicles and, through its subsidiaries, currently manages investments with an aggregate enterprise value in excess of EUR 19bn (as of 30 September 2021).  Arcus targets mid-market, value-add infrastructure investments, with a particular focus on businesses in the digital, transport and energy sectors.

www.arcusip.com

 

About HB

HB Returnable Transport Solutions is a logistics asset owner and service provider in the food and beverage supply chain. HB focuses on rental, washing, returns handling and management of various RTIs (CBL crates, pallets, pallet boxes, home delivery crates, and others). With an extensive network of 10 logistics facilities in the Netherlands, HB is uniquely positioned to support its long-term customer relationships, and is able to reduce transport, and therefore the carbon footprint and logistics costs, within its customers’ supply chains.

www.hb-rts.com

Categories: News

Incode Secures $220M for its Series B, Earning Unicorn Status Less Than Seven Months Following Its Series A Round

General Atlantic

Silicon Valley Company Provides Identity Solution to Increase Trust Between Customers and Businesses With AI-Based Digital Identity Platform

December 7, 2021

 Incode, a next-generation identity verification and authentication platform for global enterprises, today announced it has raised $220 million in its Series B funding round, giving the company a $1.25 billion valuation and propelling it to unicorn status less than seven months following its Series A round.

Incode’s significant rate of growth – the company grew 6x in revenues over the last 12 months – is driving the latest cycle of investments, which comes on top of the company raising $25 million Series A funding in March. The level of fundraise validates Incode’s leadership in the global digital identity solutions market and the potential for its innovative, automated AI-based approach to reinvent the customer experience of the future.

“We believe that our ‘One Identity Everywhere’ vision is transforming the way humans experience their identity journeys with companies,” said Ricardo Amper, Founder and CEO of Incode Technologies. “We have created an experience that we believe is seamless and frictionless, and it brings that ‘wow’ moment to the end customer when onboarding to a new bank, checking into a hotel or being admitted to a hospital. By reinventing these experiences, we are building trust and creating delight between enterprises and their customers.”

This latest investment round was led by investors General Atlantic and SoftBank, with additional investment from financial institutions J.P. Morgan, Capital One and Coinbase. Rounding out the fundraise are SVCI (Silicon Valley CISO Investments), a group of over 50 leading technology CISOs that are joining forces and funds to invest in the next generation of cybersecurity innovation, and the founders of dLocal, with participation from existing investors DN Capital, 3L Capital, Framework Ventures, and others.

What makes Incode unique in the crowded digital identity space?

  • Incode offers a full omnichannel orchestration platform that allows companies to have a single integration point to solve the identity problem – from onboarding customers in a frictionless and secure way to seamlessly authenticating them once they’re onboarded.
  • Incode’s solution is fully automated, meaning it doesn’t use humans in call centers to identify clients. Today machines can be more effective than humans both in terms of speed, privacy and accuracy, enabling Incode to deliver real-time responses with much less fraud.
  • Incode owns its entire technology stack, instead of using sub-vendors like many of its competitors.  This creates a direct relationship between the enterprise and the technology owner, which allows Incode to continually improve its tech based on customer feedback.
  • This direct relationship enables Incode to build true partnerships with its customers. “Incode is a key strategic partner in helping us to address our identity needs at scale. Incode offers the right combination of technology, security and seamless experience for our clients,” said Miguel Lavalle, Account Opening Head at Citi.

“Incode is a leader in the digital identity space and has developed a robust solution to address some of the industry’s most significant challenges, particularly around frictionless, secure onboarding and authentication. The company’s unique platform and technology has powered its growth to date, and we look forward to partnering with and supporting Incode as it helps drive the future of identity solutions,” said Martin Escobari, Co-President, Managing Director and Head of General Atlantic’s business in Latin America.

“We are very excited to support Ricardo and all of his strong team at Incode as they continue expanding globally through enterprise clients, including many of our portfolio companies. Incode provides a differentiated suite of digital onboarding and authentication tools, helping its clients manage customer identities while scaling trust and reducing friction,” said Paulo Passoni, Managing Partner of SoftBank Latin America funds.

“The biggest impact that Incode and the identity industry in general can have is to generate trust between people, companies and institutions,” said Amper. “Without trust, interest rates are set higher, processes get complicated, and business becomes more difficult. Trust is the core element that opens financial systems to everyone and allows many more people to participate in a democratic system. At Incode, we create trust by eliminating barriers, reducing costs and democratizing access.”

To learn more about Incode, visit incode.com.

About Incode Technologies

Incode is a leading identity company that is reinventing the way humans verify their identity and interact with the world’s largest companies with a highly secure and delightful AI based experience. Incode’s end-to-end fully automated orchestration platform enables seamless access across multiple channels with products focused on onboarding, authentication and payment verification that increase conversion and reduce fraud.

With its mission to build trust and democratize access, Incode works with a number of the world’s biggest banks, fintechs, hotels, governments and marketplaces.  Incode is based in San Francisco with offices in Europe and Latin America.

About General Atlantic

General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 445 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $86 billion in assets under management inclusive of all products as of September 30, 2021, and more than 215 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore and Stamford.

For more information on General Atlantic, please visit the website: www.generalatlantic.com.

About Softbank

The SoftBank Group invests in breakthrough technology to improve the quality of life for people around the world. The SoftBank Group is comprised of SoftBank Group Corp. (TOKYO: 9984), an investment holding company that includes stakes in telecommunications, internet services, AI, smart robotics, IoT and clean energy technology providers; the SoftBank Vision Funds, which are investing more than U.S. $100 billion to help entrepreneurs transform industries and shape new ones; the U.S. $5 billion SoftBank Latin America Fund, the largest venture fund in that region; and the SB Opportunity Fund, a U.S. $100 million fund dedicated to investing in enterprises founded by entrepreneurs of color in the U.S. To learn more, please visit https://global.softbank.

Media Contacts

Mary Armstrong & Emily Japlon
General Atlantic media@generalatlantic.com

Alisha Alvarez
Bospar PRforIncode@bospar.com

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Altamir is to sell Unilabs, an investment held via the Apax IX LP fund

Altamir

Paris, 7 December 2021 – Apax Partners LLP is to sell its investment in Unilabs to the Danish holding company A.P. Moller.

The transaction, which is expected to close in Q1 2O22, will give Altamir a MOIC of around 3.2x. This represents an uplift of more than 25% to Unilabs‘ fair value as of 30 June 2021.

Unilabs is one of Europe’s leading diagnostics companies, offering services in laboratory medicine, imaging and pathology. Supported by the Apax team, Unilabs has grown both organically and through M&A, completing 50+ acquisitions since 2017, and it currently operates in 15 countries with market-leading positions in most of them. Unilabs has also become a pan-European leader in digital radiology and pathology.

About Altamir

Altamir is a listed private equity company (Euronext Paris-B, ticker: LTA) founded in 1995, with a NAV of more than €1.2bn. Its objective is to provide shareholders with long-term capital appreciation and regular dividends by investing in a diversified portfolio of essentially unlisted companies.

Altamir’s investment policy is to invest principally via and with the funds managed or advised by Apax Partners SAS and Apax Partners LLP, two leading private equity firms that take majority or lead positions in buyouts and growth capital transactions and seek ambitious value creation objectives.

In this way, Altamir provides access to a diversified portfolio of fast-growing companies across Apax’s sectors of specialisation (Tech & Telco, Consumer, Healthcare, Services) and in complementary market segments (mid-sized companies in continental Europe and large companies in Europe, North America and key emerging markets).

Altamir derives certain tax benefits from its status as a SCR (“Société de Capital Risque”). As such, Altamir is exempt from corporate tax and the company’s investors may benefit from tax exemptions, subject to specific holding-period and dividend-reinvestment conditions.

For more information: www.altamir.fr

Contact

Claire Peyssard Moses

Tel.: +33 1 53 65 01 74 / E-mail: investors@altamir.fr

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