Category Archives: News

KKR sells its equity stake in Saba to Criteria Caixa

KKR

London and Madrid, 30 July 2018 – KKR, a leading global investment firm, today announces the divestment of its 18.2% equity stake in Saba Infraestructuras (“Saba”) to Criteria Caixa, Saba’s existing majority shareholder.

Headquartered in Barcelona, Saba is an industrial operator of urban mobility solutions, specializing in car park management. The business employs more than 1,500 people across Europe and Latin America, and generated revenues of €213m and EBITDA of €100m in 2017.

KKR originally acquired its equity stake in Saba through two transactions in 2011 and 2012, and has worked closely with other shareholders Criteria, Torreal and Proa and with Saba’s management team to help the business transform its operations and achieve its growth objectives. Since its investment, KKR has supported Saba’s international growth through expansion into Portugal, Italy, and Chile, and has helped Saba exit its logistics parks businesses to focus on winning and extending contracts in its car parking business.

Saba has also been supported by specific expertise from KKR Capstone and KKR Capital Markets, who helped Saba deliver cost efficiencies and optimise its capital structure to provide a firm foundation for future growth.

Tara Davies, Member and Head of European Infrastructure at KKR, said “We are delighted to have contributed to reinforcing Saba’s leading position in the sector. The business has transformed since 2011 and we are confident that it is well-positioned for continued strong growth in the future.”

Alejo Vidal-Quadras, Director at KKR and Head of the Madrid office, said “KKR has leveraged the full strength of its platform and capability to support Saba over the past years, demonstrated by the strength of its recent performance. The partnership with Saba builds on KKR’s track record of supporting leading Spanish businesses with their operations and growth strategy.”

About KKR

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

Media Contacts

UK / International
Alastair Elwen
Finsbury
Phone: +44(0)20 7251 3801
Email: alastair.elwen@finsbury.com

Spain Javier Curtichs
Tinkle
Phone: +34 91 702 10 10
Email: jcurtichs@tinkle.es

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BDC exits Acteon

Bridgepoint

The family investment holding company, DENTRESSANGLE has announced that it is in exclusive discussions with BRIDGEPOINT DEVELOPMENT CAPITAL (BDC), the SMid-Cap business of BRIDGEPOINT, to acquire a majority stake in ACTEON Group, a French medtech company specialized in high-technology dental and medical equipment.

ACTEON designs and manufactures high-technology equipment and consumables for the dental sector as well as medical equipment. ACTEON is globally renowned in the field of dental imaging and is a global leader in intraoral cameras and high-intensity ultrasound (piezosurgery), a non-invasive and non-traumatic surgical technique used notably in implantology.

ACTEON, headquartered in Mérignac, France, employs 850 people across 5 plants in Europe, saw a strong increase in its turnover over the last 3 years, rising from €119 million in 2014 to €162 million in 2017. The group generates 85% of its sales outside France, its main markets are USA, China, Spain, the Middle East and Japan.

DENTRESSANGLE will bring its entrepreneurial culture to ACTEON in order to strengthen its position as an indispensable partner for dental surgeons around the world. DENTRESSANGLE wants to accelerate the development of ACTEON through increased R&D activity, expanding its global reach and implementing an external growth strategy.

Thierry Coloigner, Managing Partner at DENTRESSANGLE Mid & Large Cap said: “ACTEON fits seamlessly into DENTRESSANGLE’s investment strategy: a highly global company, with solid positions in the burgeoning dental care industry, a very strong reputation and a high-growth profile. We’re very pleased to be supporting Marie-Laure Pochon and her teams. Marie-Laure Pochon is a talented leader whose great entrepreneurial energy fits perfectly with the culture and values of the family investment holding company DENTRESSANGLE.”

Marie-Laure Pochon, CEO of ACTEON added: “After the intense work carried out together with the Bridgepoint teams to breathe new life back into the business, over the past few years ACTEON has rediscovered the road to growth. The timing of DENTRESSANGLE’s equity participation in ACTEON coincides perfectly with the growth acceleration phase in which we are entering. We’re pleased to be able to rely on a majority shareholder with such a strong entrepreneurial culture to support our strategy, consolidating the company’s global leadership in the field of dental piezosurgery and imaging, with an ever more innovative and digital range of products for dental practices.”

Olivier Nemsguern, Partner of BRIDGEPOINT DEVELOPMENT CAPITAL in France continued: “Under the guidance of its management team and with the support of Bridgepoint, Acteon has worked intensively to re-energise its business and rationalise its production facilities, and has completed two acquisitions. As a result, the company has developed rapidly, consolidating its leadership role in the field of dental equipment, as well as positioning itself as a global player in dental imagery and significantly growing its international business. We believe that ACTEON is now ideally placed to continue growing and developing internationally.”

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EQT to sell offshore communication infrastructure provider Tampnet

eqt

  • EQT Infrastructure to sell offshore communication infrastructure provider Tampnet, owner and operator of the world’s largest offshore fiber-backed communication infrastructure network, to 3i Infrastructure plc and ATP
  • During EQT ownership, Tampnet has grown significantly with revenues and EBITDA increasing more than threefold, the number of employees increasing twentyfold, while at the same time successfully closing and integrating strategic acquisitions and investing in offshore communication infrastructure within existing and new offshore regions
  • Network infrastructure expansion achieved with more than 1,700km of fiber and over 60 4G/LTE base stations added to the network across multiple countries and offshore regions, delivering high capacity services and enabling digitization of the oil&gas and offshore industries

The EQT Infrastructure I and EQT Infrastructure II funds (together “EQT Infrastructure”) have entered into a definitive agreement to sell Tampnet AS (“Tampnet”) to 3i Infrastructure plc, a listed long-term investor in infrastructure businesses and assets, and ATP, Denmark’s largest pension provider.

Tampnet was acquired by EQT Infrastructure in November 2012 and is the only independent owner, operator and provider of high capacity, low latency offshore communication infrastructure. The strategy has revolved around investing to drive development of the offshore fiber-backed communication infrastructure network and roll-out new low latency wireless communication (4G/LTE) to enable digitization and remote operations of the oil and gas industry and expand Tampnet’s business model geographically.

Per Helge Svensson, CEO of Tampnet, comments: “Together with EQT, Tampnet has been able to invest significantly to build a world-class organization while expanding its offshore infrastructure communication network into new geographies. We continue to see strong demand for our services, largely driven by the digitization of the oil and gas industry and the essentiality of robust communication infrastructure, and look forward to entering the next phase of growth together with our new owners.”

Masoud Homayoun, Partner at EQT Partners, Investment Advisor to EQT Infrastructure, adds: “Since 2012, Tampnet has undergone an extraordinary transformation to become the largest global independent owner and operator of offshore fiber-backed communication infrastructure. Management and the entire Tampnet team have done a fantastic job. With the ever-increasing demand for connectivity and data bandwidth driven by digitization in the offshore industry, Tampnet continues to be well positioned to grow and serve its customers with superior services.”

During EQT Infrastructure´s ownership, Tampnet successfully entered its second offshore region in the Gulf of Mexico and expanded its existing network in the North Sea into several new offshore areas. Several new services were launched, and three strategic add-ons acquisitions were successfully completed and integrated. With these initiatives, Tampnet has grown more than threefold in revenues and EBITDA from 2012 to 2018.

The sale is conditional on customary approvals from governmental and regulatory bodies in several jurisdictions, including the Federal Communications Commission in the US, and is expected to close in 2019.

EQT Infrastructure has been advised by Citigroup Inc. (M&A), Advokatfirmaet Selmer AS and Vinson & Elkins LLP (Legal).

Contacts
Masoud Homayoun, Partner at EQT Partners, Investment Advisor to EQT Infrastructure, +46 8 506 55 348
EQT Press Contact, +46 8 506 55 334

About EQT
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About Tampnet
Tampnet is the only independent supplier of high capacity and low latency communication to offshore installations in the North Sea and the Gulf of Mexico. The company operates the world’s largest offshore fiber-backed communication infrastructure network, serving more than 300 oil and gas platforms, units, FPSO’s and exploration rigs.

More info: www.tampnet.com

About 3i Infrastructure plc
3i Infrastructure plc is a Jersey-incorporated, closed-ended investment company, listed on the London Stock Exchange and regulated by the Jersey Financial Services Commission. The Company is a long-term investor in infrastructure businesses and assets. The Company’s market focus is on economic infrastructure and greenfield projects in developed economies, principally in Europe, investing in operating businesses and projects which generate long-term yield and capital growth.

3i Investments plc, a wholly-owned subsidiary of 3i Group plc, is authorised and regulated in the UK by the Financial Conduct Authority and acts as Investment Adviser to 3i Infrastructure plc.

More info: www.3i-infrastructure.com

About ATP Group
ATP is Denmark’s largest pension and social security provider and one of Europe’s largest pension providers, with more than €100 billion assets under management invested in bonds, equities, real estate and infrastructure assets, among others. In recent years, ATP has made significant investments in vital infrastructure such as the Copenhagen Airport, the renewable energy company DONG Energy, now Orsted as well as the telecommunication company TDC.

ATP also administers key welfare benefits and schemes on behalf of the Danish state, the local authorities in Denmark and the social partners. ATP is the largest administration provider in the Nordic countries, managing two thirds of welfare benefits disbursed in Denmark.

More info: https://www.atp.dk/

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KKR and Urban Exposure partner to provide development lending in the UK

KKR

London, 27 July 2018 – KKR, a leading global investment firm, and Urban Exposure, a leading UK residential development finance provider, today announce that they have launched a Joint Venture (“JV”) to focus on financing mainstream housing throughout the UK, with an initial size of £165m.

The JV will leverage Urban Exposure’s expertise in originating, executing and managing development loans in the residential market, focusing on the significant opportunity in mainstream housing throughout the UK. The JV will draw on this deep local market knowledge, which, combined with KKR’s significant financial and operational expertise, will help drive continued growth and scale of the loan portfolio and build its position as a leading development finance provider.

The JV will take advantage of the attractive fundamentals of development finance, whilst meeting a clear need for housing development in the context of increasing mainstream housing supply in the UK.

Varun Khanna, Director at KKR Credit, said: “KKR is excited to partner with Urban Exposure, working closely with management to find opportunities to create value in an evolving UK residential property market. The strength of our platform, outstanding management team and favorable market fundamentals will enable us to support SME developers in building affordable housing for the benefit of the UK.”

Sundeep Lakhtaria, Partner at Urban Exposure said: “We are thrilled to be working with KKR, a best-in-class private equity firm on this joint venture. Urban Exposure has considerable experience in managing third party funds through a long history of joint ventures and syndicated transactions. We aim to leverage this strength in the asset management business through strategic and collaborative relationships such as this joint venture with KKR.”

Commenting, Randeesh Sandhu, Chief Executive of Urban Exposure said: “We are pleased to have closed this joint venture, which is a continuation of our strategy to grow our third-party asset management business whilst also continuing to deploy our balance sheet lending funds. The scale of the venture means we can offer further significant support to SME developers as they seek funding for mainstream housing projects across the UK. We believe the venture will demonstrate our ability to deliver shareholder value by combining our experience with KKR’s significant financial and operational expertise.”

KKR’s investment is being made through its Credit funds, which currently have assets under management of $60.7bn as of 30 June 2018.

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

About Urban Exposure
Urban Exposure plc is a specialist residential development finance and asset management company that has been formed to provide finance for UK real estate development loans. The Company focuses on two main revenue streams: interest and fees generated on principal lending from its own balance sheet; and asset management income generated from managing and servicing real estate development loans financed by third parties. For additional information please visit Urban Exposures website: www.urbanexposureuk.com/ and on twitter @UrbanExposureuk, Linkedin: www.linkedin.com/company/urban-exposure/ and Facebook: www.facebook.com/UrbanExposureUK/

Media Contacts
KKR
Alastair Elwen/Shiv Talwar
Finsbury
Phone: +44(0)20 7251 3801
Email: alastair.elwen@finsbury.com

Urban Exposure
Barnaby Fry/Charlie Barker/Sophia Samaras
MHP Communications
Phone: +44 (0) 20 3128 8100
Email: urbanexposure@mhpc.com

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KKR to Acquire The Bay Club Company

KKR

Landmark California company bridges gap between fitness and hospitality

NEW YORK & SAN FRANCISCO–(BUSINESS WIRE)– KKR, a leading global investment firm, and The Bay Club Company (“Bay Club”), a premier active lifestyle and hospitality company, today announced the signing of a definitive agreement under which KKR will acquire Bay Club from York Capital Management and minority investors, including JMA Ventures and Roxborough Group. Financial details of the transaction were not disclosed.

Founded in 1977, Bay Club operates a collection of active lifestyle campuses, welcoming more than 50,000 members throughout California. The clubs are designed with innovative amenities to support the company’s focus on Fitness, Sports, Family and Hospitality.

Bay Club is recognized as the pioneer of the urban sports resort. Over the past several years, Bay Club has assembled an experienced management team—a blend of fitness, hospitality, technology, and finance veterans. Under the direction of this team, Bay Club was given the opportunity to evolve beyond the fitness industry. As a result, the Company entered the realm of hospitality by grouping complementary properties into campuses and offering its members a range of high-end lifestyle amenities typically only found at country clubs and luxury resorts.

“At Bay Club, we are proud to have created California’s leading active lifestyle community. In partnering with KKR, we are excited to build even further on what we’ve accomplished thus far and bring our unique offering to even more communities across the country,” said Matthew Stevens, President and CEO of Bay Club.

“Bay Club’s pioneering and differentiated model is one of the few scaled platforms in a large and highly fragmented health and wellness industry, where members can find options that meet all of their – and their families’ – needs,” said Nate Taylor, KKR Member and Head of KKR’s Americas Consumer Retail team. “We’re thrilled to be partnering with Matthew and the rest of Bay Club’s management team.”

KKR is making the investment through separately managed accounts and its balance sheet.

Bay Club is being advised by Morgan Stanley & Co. LLC as lead financial advisor, North Point Advisors LLC as co-financial advisor, and Skadden, Arps, Slate, Meagher & Flom and Brownstein Hyatt Farber Schreck, LLP as legal advisors. Simpson Thacher & Bartlett is serving as legal advisor to KKR.

About Bay Club
Headquartered in San Francisco, California, The Bay Club Company is an active lifestyle and hospitality company with a network of experiential campuses that welcome more than 50,000 members. The company operates across seven California campuses in the San Francisco, San Jose, Los Angeles and San Diego markets, employing more than 4,000 people. For more information on The Bay Club Company, please visit BayClubs.com or its blog, OneLombard.com. The Bay Club Company is also on Facebook and Instagram.

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

About York Capital Management
York Capital Management is a global private investment firm that was established in 1991. The firm manages approximately $18 billion in assets across public and private investment strategies, including its private equity platform, the York Special Opportunities Fund, which owns Bay Club. York Capital employs approximately 60 investment professionals and 200 total employees globally, located primarily in New York, London, and Hong Kong.

Media:
Bay Club:
Annie Appel, 415-901-9351
annie.appel@bayclubs.com
or
KKR:
Kristi Huller or Cara Major, 212-750-8300
media@kkr.com
or
York Capital Management:
Gasthalter & Co. for York Capital Management
Nathaniel Garnick/Kevin Fitzgerald, 212-257-4170
York@gasthalter.com

Source: KKR

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ARDIAN reaffirms its support to Mademoiselle Desserts and co-arranges A €50M subordinated financing to finance its acquisition by IK Investment Partners

Ardian

Paris, July 26th 2018 – Ardian, a world-leading private investment house, today announces that it has co-arranged a €50m subordinated financing to support the acquisition of Mademoiselle Desserts by IK Investment Partners. The financing package includes a committed acquisition line to support the Group’s growth strategy.

Mademoiselle Desserts is one of the leading producers of frozen baked goods in Europe. Founded in 1984, the Group offers a wide range of high-quality and innovative products distributed to some of the largest organizations in the retail and foodservice market. Mademoiselle Desserts, which currently employs 1,300 people across nine production facilities in France, the UK and the Netherlands, holds a leading position in France and the UK due to a diversified range of quality pastries.

The Group is forecast to reach approximately €225m in sales in 2018.

Guillaume Chinardet, Head of Ardian Private Debt France and Managing Director, said: “We look forward to continue supporting the Group in this new chapter of its growth journey alongside IK Investment Partners, a valuable partner with strong expertise in the European food market. We are convinced that Mademoiselle Desserts will achieve further growth via strategic acquisitions to broaden the product portfolio and penetrate new markets.”

Gregory Pernot, Director in Ardian’s Private Debt team, added: “We’ve been working alongside Mademoiselle Desserts since November 2013, when we arranged a unitranche financing for the Group. Ever since, we have seen the strong development of Mademoiselle Desserts under the leadership of Didier Boudy and the management team, and have actively supported its strategic acquisitions of several entities in the UK and the Netherlands. This second financing with Mademoiselle Desserts emphasizes our investment approach based on long-term partnerships.“

Didier Boudy, CEO of Mademoiselle Desserts, added: “Since 2013, Ardian Private Debt has been a strategic partner for Mademoiselle Desserts’ development. Their agility and reactivity combined with their very good understanding of our industry has been totally key to complete strategic acquisitions. It was then natural to secure their participation to our next roll with IK Investment Partners.”

“We are impressed by the Group’s development in the UK, France and the Netherlands. Together with the management team, we will strive to broaden the product portfolio via targeted acquisition opportunities. Ardian has been a long-term partner of the Company, and we are delighted to see them reaffirm their support. ” said Rémi Buttiaux, Partner at IK Investment Partners and advisor to the IK VIII Fund.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$71bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.

Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 500 employees working from fourteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore and Tokyo). It manages funds on behalf of around 700 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Ardian on Twitter @Ardian

www.ardian.com

ABOUT MADEMOISELLE DESSERTS

Mademoiselle Desserts, formerly known as Européenne des Desserts, is the French leader and one of the leading European players in the frozen bakery industry. Operating through 9 manufacturing sites in France, the UK and the Netherlands, Mademoiselle Desserts offers a large range of premium frozen industrial pastry products to its retail and foodservice customers. The Group employs a total of 1,300 people.
www.mademoiselle-desserts.com

ABOUT IK INVESTMENT PARTNERS

IK Investment Partners is a Pan-European private equity firm having raised more than €9.5 billion of capital. Since 1989, IK has raised more than €9.5 billion of capital and invested in over 115 European companies, its current portfolio being composed of 28 companies. IK mainly invests in mid-sized companies that have strong market positions and strong improvement potential.
www.ikinvest.com

LIST OF PARTIES INVOLVED

Ardian Private Debt: Guillaume Chinardet, Gregory Pernot, Gabrielle Philip
IK Investment Partners: Rémi Buttiaux, Dan Soudry, Diki Korniloff, Thibaut Richard, Guillaume Veber
Financing Legal Advisor (Ardian): De Pardieu Brocas Maffei – Yannick Le Gall, Eryk Nowakowski, Sonia Bouaffassa

PRESS CONTACTS

ARDIAN
Headland
Carl Leijonhufvud
cleijonhufvud@headlandconsultancy.com
Tel: +44 020 3805 4827

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GCP Hospitality, a member of Gaw Capital Partners, expands its footprint in Europe through a joint venture with Omega Capital by acquiring Hospes Hotel Group in Spain

Gaw Capital

July 25, 2018, Hong Kong

– Real estate private equity firm Gaw Capital Partners today announced that the firm, through its European Hospitality Fund I managed by GCP Hospitality, acquired a 50% stake in Spain’s leading boutique hotel brand, Hospes Hotel Group, of which its total asset is valued at €125 million, forming a joint venture with a Spanish investment company, Omega Capital.

Hospes Hotel Group is a highly respected brand in Spain with 10 properties. The group is recognized as a highly acclaimed brand and operator within the luxury and heritage boutique hotel segment.

Each hotel has been crafted in an artisan fashion, combining elements of heritage, design, local textures and technology together.

Hospes’ luxury boutique hotels are situated in various prime locations across Spain, including Madrid, Alicante, Granada, Valencia, Mallorca, Córdoba, Seville, Cáceres and Salamanca. The properties are in close proximity to some of Spain’s most prominent historical sites, each designed by respected and renowned architects to create their own unique atmosphere and style. Their facilities, including bars and restaurants, wellness centers and spas, have received 5-star ratings.

Goodwin Gaw, Chairman and Managing Principal of Gaw Capital Partners, said, “We are delighted to form a joint venture with Omega Capital through our European Hospitality Fund I managed by GCP Hospitality to acquire a 50% stake in Hospes Hotel Group. Entering the Spanish market with one of Spain’s most distinguished entrepreneurs marks an important milestone for Gaw Capital Partners and its hospitality platform, GCP Hospitality, as we look to expand our presence in Europe and tap the abundant opportunities in one of the world’s most popular tourism markets. We will further expand the Hospes brand by opening more properties in tourist areas and strategic cities within Spain and Southern Europe.”

Christophe Vielle, CEO & Co-Founder of GCP Hospitality, said, “We are thrilled to expand our hotel portfolio to Europe. The acquisition of Hospes Hotel Group is a testament to GCP Hospitality’s strong track record of successfully launching and operating top-of-the-range hotels and hospitality brands. With a very positive outlook for the continent’s tourism industry, we are actively exploring ways to expand our portfolio in Europe. We will leverage the reputation of Hospes Hotel Group as well as our international network to increase the brand’s footprint.”

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Forbion Portfolio Company Replimune Successfully Completes IPO on NASDAQ

Forbion

Over $100 million raised to progress its pipeline of next-generation oncolytic immunotherapies

Company has progressed from seed financing to IPO in three years

Forbion, a leading European life science venture capital firm, today announces that its portfolio company Replimune Group, Inc. (‘Replimune’) has successful completed an initial public offering (IPO) on NASDAQ, raising over $100 million for the development of its next-generation oncolytic immunotherapies. Replimune’s stock has started trading under the ticker symbol “REPL”.

Forbion has been a longstanding supporter of Replimune’s growth and development having invested seed capital three years ago at the time of the Company’s formation. Forbion identified the potential of Replimune following its investment in BioVex Inc. and knowledge and experience of oncolytic immunotherapy. BioVex was sold to Amgen in 2011 for up to US$1 billion which delivered a significant return for Forbion. Replimune’s co-founder and current Executive Chairman Philip Astley-Sparke was the President and CEO of BioVex Inc. and is now a Venture Partner at Forbion.

Replimune is developing oncolytic immunotherapies intended to improve the direct cancer-killing effects of selective virus replication and the potency of the immune response to the tumor antigens released. The Company’s Immulytic™ technology platform is designed to maximize systemic immune activation, in particular to tumor neoantigens, through robust viral mediated immunogenic tumor cell killing and the delivery of optimal combinations of immune activating proteins to the tumor and draining lymph nodes. The approach is expected to be highly synergistic with immune checkpoint blockade and other approaches to cancer treatment.
Commenting, Sander Slootweg, Managing Partner, said:

“We are proud to have been integrally involved in Replimune’s creation and to have nurtured its growth and development over the last three years. This successful IPO and fundraising only three years after we invested seed capital recognizes the potential of the company, its technology and pipeline and will help progress the development of its next generation oncolytic immunotherapies.”

About Forbion

Forbion is a dedicated life sciences venture capital firm with offices in The Netherlands and Germany. Forbion invests in life sciences companies that are active in the pharmaceutical, as well as the medical device space. Forbion’s investment team has built an impressive performance track record since the late nineties with successful investments in over 50 companies. Forbion manages well over EUR 1 billion across ten funds. Its investors include the EIF, through its European Recovery Programme (ERP), LfA and Dutch Venture Initiative (DVI) facilities and the KFW through the ERP – Venture Capital Fondsfinanzierung facility. Forbion also operates a joint venture with BGV, the manager of seed and early stage funds focused on Benelux and Germany. www.forbion.com

Contacts

Forbion contact:
Sander Slootweg
Managing Partner
P: +31 (0) 35 699 30 00
E: sander.slootweg@forbion.com

Media contact:
Instinctif Partners (on behalf of Forbion)
Ashley Tapp/Ambrose Fullalove
P: +44 (0) 20 7457 2020
E: forbion@instinctif.com

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DN Capital News Happeo, the all-in-one digital workplace platform has raised a late seed round of $8 Million

DN Capital

Helsinki, Finland, 07/24/2018. Finnish software startup Happeo announced today that it has raised $8M from leading international investors including DN Capital (UK/Silicon Valley), Maki.vc (Helsinki), and Vendep Capital (Helsinki). View the original press release from Happeo here: https://www.happeo.com/blog/press-release-8mil-funding

Internal Communicators in enterprise and fast-growing companies are struggling to connect a diverse workforce over locations and generations. Departmental silos, the absence of effective knowledge sharing, and an overflow of tools used to communicate and collaborate often results in low employee productivity and engagement.

The Happeo SaaS platform is solving these challenges by bringing together the software that organizations use daily into one unified platform, allowing employees not only to connect and collaborate in new ways, but also to work more efficiently. Since officially launching its platform in 2017, Happeo (formerly Universe) has been nominated as one of the most promising startups by the European Union, and today already more than 220,000 employees are working with the Happeo digital workplace.

“Traditional employee intranets are dead, because they host static and often outdated information in isolation, offering no value to the employee,” says Perttu Ojansuu, Co-Founder and CEO of Happeo. “Happeo is providing organizations with a totally integrated digital workplace, serving as a central hub for employees to access company resources, collaborate, and connect with each other. This massively improves employee experience and drives our clients’ growth.“

By integrating seamlessly with leading enterprise collaboration tools, Happeo brings together essential tools: calendar, files, conferencing, and projects, even CRM and HR-systems – in one digital workplace. The platform is enriched with knowledge sharing and social networking features directly driving engagement, productivity and an enjoyable employee experience.

UK/Silicon Valley based international venture fund, DN Capital, joins the round with Finnish investors Maki.vc and Vendep who has former success from backing companies disrupting traditional industries in SaaS. The additional capital will be used by Happeo to expand upon its rich suite of integrations, making it possible to launch Linkedin, Google Chat and Slack this quarter. The funding will also be used to expand the global presence of the company, following the opening of its Amsterdam office earlier this year.

“Happeo’s core team possesses a world-class understanding of the enterprise software market, client needs and the shortcomings of the existing tools. Happeo brings together work efficiency, information availability and company culture in a way that makes the traditional intranets and enterprise collaboration tools look and feel hopelessly cumbersome and archaic,” says Pirkka Palomäki from Maki.vc.

“We look forward to working together with Perttu, Vesa and Antero to accelerate Happeo’s growth and help one more Finnish SaaS company to conquer the world. The founding team has worked together successfully for a long time, and based on their proven track record and backed by the raised funds, the company is now ready to step up its growth,” says Hannu Kytölä from Vendep Capital.

“By bringing together enterprise CMS, social intranet and collaboration in a single platform, Happeo has created a solution that will be critical to the digital workplace of the future. We are delighted to join Maki.vc and Vendep in Happeo’s first institutional funding round,” says Steve Schlenker from DN Capital.

About Happeo

Happeo is the leading all-in-one digital workplace platform that empowers internal communicators to connect with employees in entirely new ways. The platform brings together intranet, collaboration, and social networking into one unified solution.

Large enterprises and fast-growing organizations, such as Randstad Sourceright and Groupe Chantelle, use Happeo to reach, engage, and listen to more than 220,000 employees worldwide to create a seamless employee experience.

Our mission is to accelerate growth from within for our clients. We believe business success today depends entirely on talent and a company’s ability to overcome silos. Happeo brings together a diverse workforce across generations, locations and time zones.

To learn more about Happeo’s software visit https://www.happeo.com.

About DN Capital

DN Capital is an early stage and growth capital investor focused on Seed, Series A and select Series B investments in marketplaces, fintech, SaaS, digital media, e-commerce, mobile applications and digital health companies. The firm was founded in 2000 and has operations in London, Berlin and Silicon Valley. DN Capital’s previous funds are top performers and the firm is one of the lead investors in companies such as Endeca (Oracle), Shazam (Apple), Auto1 (Europe’s largest used car marketplace), Purplebricks (AIM:PURP) and Quandoo (Recruit). The DN Capital team bring over 75 years of private equity experience to their investments, and actively work with portfolio companies to steward their growth through the various stages of development. Find out more at www.dncapital.com.

For further information
Celia Viguier
Investor Relations
DN Capital
celia@dncapital.com

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China Life Pension Company selects Style Analytics Enterprise as new portfolio style analysis platform

Horizon Capital

Horizon-backed Style Analytics, the provider of factor-based analysis software for investment professionals, today announces a strategic agreement with China Life Pension Company (CLPC), the largest pension fund in China and wholly owned subsidiary of China Life Insurance (Group) Company with approximately RMB 267 billion (over USD 41 billion) in assets under management. China Life Pension Company has signed a multi-year contract to use Style Analytics Enterprise as its new portfolio style analysis platform to deliver intuitive and transparent insights into equity fund style, risk and performance.

CLPC was founded in 2007 to provide enterprise annuities to state-owned and private enterprises and is one of only five pension insurance companies in China. As of the end of 2017, the Company’s corporate annuity fund management business had 11,383 customers, with managed assets of 267.5 billion yuan.

Lawrence Wang, Manager at CLPC, commented, “This cooperation with Style Analytics is aligned with China Life’s vision of keeping abreast of development trends within the industry, as we strive to maintain our leading position in China’s pension industry and forge ahead with our transformation into a world-class life. We were impressed throughout the testing and trialling of the platform and that Style Analytics has given great consideration to ensuring full alignment with our integration and procurement requirements.”

Sebastien Roussotte, CEO at Style Analytics, commented, “We are honored that an institution as venerable as CLPC has researched the market and selected us as their partner of choice. China is an important market for Style Analytics, building on our existing Asian presence and capabilities and we look forward to working in partnership with CLPC to support their requirements both today, and in the future.”

Categories: News