SECA | Swiss Private Equity & Corporate Finance Association
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eNewsletter no. 432 Dear Reader 06 March 2015 Slowly, I get nervous. At a Corporate Venture Capital conference in SECA California, a friend of mine challenged the head of Intel Capital on a panel about the rise and risk of hedge funds and mutual funds in Venture Capital late stage investments, bringing the feel back of dot com times. He Private Equity – Swiss News did not have a good answer, but another guy in the room from CB Insights made some research on the issue. Private Equity – Int. News More and more hedge funds allocate their capital in the VC later Corporate Finance stage market. They jumped into companies including AirBnB, Mergers & Acquisitions Cloudera, Dropbox and Uber among dozens of others. The Management Buyout investment deal trends of five mutual funds – BlackRock, Fidelity Investments, Janus Capital, T. Rowe Price, and Wellington Book of the Week Management – into U.S. VC-backed tech companies over the last Jobs four years seems incredible. Notably, T. Rowe Price increased its private tech deals into venture-backed startups by 2x in 2014. And Agenda after no U.S. tech deals in 2013, Wellington Management jumped Editor into 12 deals including a $70.9M investment into real estate tech platform Redfin as well as a $40M round into Boston-based cybersecurity company Veracode, which recently disclosed IPO plans, reports CB Insights. Toolbox A mix of traditional VC money coupled with corporate VCs, hedge Print Newsletter funds, private equity investors and even sovereign wealth funds Send Newsletter to a Friend lifted 2014 funding levels to the highs seen during the dot com Download as PDF boom. With VCs like Benchmark’s Bill Gurley calling out ‘FOMO’ in the frothy late-stage market today, will 2015 continue the trend of mutual fund and hedge fund tech startup deal-making? Have a nice weekend! Maurice Pedergnana SECA Young SECA & PCU Get Together Event Donnerstag, 21. Mai 2015, Blue Monkey Zunftsaal zur Schneidern, Zürich Geschätzte Young SECA Mitglieder - Young SECA freut sich euch zum 10. Young SECA Get Together einzuladen. Als besonderes Highlight konnte Dani Gutenberg, seines Zeichens General Partner von VI Partners und Business Angel des Jahres 2011, als Speaker gewonnen werden. Bitte beachtet, dass die Platzzahl limitiert ist. Daher gilt first come, first served. Nutzt diese einmalige Chance und meldet euch noch heute für diesen Event im kleinen Rahmen im Herzen von Zürich an. weitere Informationen und Anmeldung 4. SECA Private Equity Workshop 6.-7. November & 20.-21. November 2015 SECA Private Equity Workshop: Die Assetklasse Private Equity & Private Markets vermittelt in kompakter Form für Praktiker. Ziel des 4. SECA Private Equity Workshops ist es, einen umfassenden Einblick in die Struktur, die Funktionsweise, die Dynamik der Private Markets‐Industrie sowie Handlungsempfehlungen aus der Sicht des Investors zu erhalten, was letztlich wesentlich zum besseren Verständnis der vorhandenen Chancen und Risiken dieser faszinierenden Assetklasse beiträgt. more information and registration Venture Capital Media Monitoring Venture Capital: Investitionen auf Rekordhöhe BAND begrüsst BVK-Vorschlag für Venture-Capital Gesetz Beteiligungskapitalmarkt: German Private Equity Barometer auf Dreijahreshoch Eine Typologie von VC-Investoren Mehr Wagnis Platzierungszahlen 2014: PE und VC Biotech-Firmen kehren an die Kapitalmärkte zurück Otto spendiert Startups zweistelligen Millionenbetrag Wie Afrikas Start-ups auf neuen Wegen zu westlichem Kapital finden Venionaire ist mit 100 Mio. Euro-Fonds auf Suche... Business Angels Panel veröffentlicht Neues Joint Venture von Starwood Capital Group und Meliá erwirbt spanische Resorts So viel wurde 2014 in Deutschland investiert Investitionen steigen: Niedrigzins treibt VC und PE Investoren an Angriff auf die Männerbastion Silicon Valley Venionaire: »Wir sind kleine Leuchttürme« Digital-Branche wird professionell Macrolide Pharmaceuticals raises first round funding On 04/03/15 Macrolide Pharmaceuticals Inc., a Newton, Massachusetts-based novel macrolide antibiotics developer, announced that it has raised USD 22 million in a first (Series A) round of funding led by Novartis Venture Funds (the venture arm of Novartis AG), Gurnet Point Capital Ltd, Roche Holding AG's Roche Venture Fund (Ventures), and SR One Ltd (SROne). Source: Zepyhr Merganser Biotech raises first round funding On 19/02/15 Merganser Biotech Inc., a Newtown Square, Pennsylvania-based peptidyl therapeutics developer, announced that it has raised USD 28 million in a first (Series A) round of funding led by Novartis AG's Novartis Venture Fund, with participation from Frazier Management LLC (Frazier Healthcare), Sutter Hill Ventures, Osage University Partners, and existing investors The Biotechnology Greenhouse Corporation of Southeastern Pennsylvania (BioAdvance) and Stateside Developments. Source: Zepyhr Vaxin secures funding On 17/02/15 it was announced that Vaxin Inc., a Gaithersburg, Maryland-based bio-vaccine and other associated biological products developer raised USD 16 million in funding from Novartis Venture Fund, HealthCap AB, Truffle Capital SAS, and Redmont Capital. In addition the company also announced that it has agreed to acquire Immune Targeting Systems (ITS) Ltd. Source: Zepyhr Sosei acquires Heptares Therapeutics On 23/02/15 it was announced that Sosei Group Corporation acquired Heptares Therapeutics Ltd, a Welwyn Garden City, UK-based clinical-stage G protein-coupled receptors (GPCR) pharmaceutical products manufacturer from Clarus Ventures LLC, MVM Life Science Partners LLP, Novartis Venture Funds, The Stanley Medical Research Institute and Takeda Ventures Inc. The consideration was up to USD 400 million and comprises of an initial cash payment of USD 180 million with up to a further USD 220 million to be paid in an earn-out payment conditional upon Heptares' successful progression of its pipeline and platform. The transaction represents an exit for VC investors. Source: Zepyhr PZ Cormay sells Orphee stake On 26/02/15 it was announced that PZ Comay SA has sold a 12 per cent stake in Orphee SA, the Plan-les-Ouates, Switzerland based haematology diagnostic instruments manufacturer, for PLN 2 per share (deal value: 2,228,000 Euro. Source: Zepyhr Mindcast TV - Folge 5: Software-Entwicklung in Indien Markus Hegi hat Ende der 90er-Jahre die Schweizerisch-Indische Softwarefirma Colayer gegründet und entwickelt seitdem Software in Indien. Er spricht mit Pascal Kocher über seine Gründerzeit in Indien und worauf man achten sollte, wenn man in Indien Software entwickeln will. Mindcast TV easySYS receives second round funding from Armada and Redalpine On 23/02/15 it was announced that easySYS AG, the Rapperswil, Switzerland based business management Software-as-a-Service (SaaS) provider, has received CHF 4.5 million in second round (Series B) financing in a funding round led by Armada Investment Group AG. Redalpine Venture Partners AG also participated. Source: Zephyr FinLab and Club Deal acquire majority stake in Venturate On 20/02/15 it was announced that FinLab AG and Club Deal AG have, between them, acquired an 80 per cent stake in Venturate, the Munich, Germany based online crowdfunding platform operator. FinLab holds a 60 per cent stake and Club Deal a 20 per cent stake. Source: Zepyhr Boldomatic receives seed funding On 19/02/15 it was announced that Boldomatic SA, the Zurich, Switzerland based online social network operator has received USD 700,000 in seed funding from European business angels and investors. Source: Zepyhr Helium Rising Stars Fund acquires minority stake in Best of the Best On 26/02/15 it was announced that ISPartners Investment Solutions AG (Helium Rising Stars Fund) acquired a minority stake in Best of the Best plc, a London, UK-based airport prize competition operator. In the transaction, Helium Rising Stars Fund acquired 275,000 shares in Best of the Best, which values the transaction at GBP 200,750. The shares acquired in the transaction represent a 3.0 per cent stake based on Best of the Best's 9,099,052 shares outstanding. Source: Zepyhr Jampp raises first round funding On 25/02/15 Jampp Ltd, a UK-based online mobile app user acquisition and re-engagement platform operator, announced that it has raised USD 7 million in a first (Series A) round of funding by HCP (Geneva) Sarl (Highland Europe), with participation from Endeavor Global Inc. (Endeavor Catalyst), Innova and NXTP Labs SRL. Source: Zephyr b-to-v invests in Series A rounds of EFFECT Photonics and Webdata Solutions EFFECT Photonics, the Eindhoven based photonics company, closed its Series A funding to bring its Optical System-on-Chip technology to market to meet the soaring demand for bandwidth in cell towers and between datacenters. The investment round was led by b-to-v, and included the Brabant Development Agency (BOM) as well as Optidob. Dr. Christian Reitberger, member of the b-to-v Circle of Investors, will join the board of the company on behalf of b-to-v. For more information please read more under the link above. read more easySYS: 4.5 Million Funding Round Redalpine Capital announced the latest addition to our portfolio: easySYS (Redalpine Capital II) has just closed a CHF 4.5m funding round under the lead of Armada Investment AG and Redalpine. read more Prexton Therapeutics raises first round funding On 24/02/15 Prexton Therapeutics SA, a Plan les Ouates, Switzerland-based central nervous system (CNS) conditions biopharmaceuticals developer, announced that it has raised EUR 8.7 million in a first round of