Private equity

Pensare Acquisition Corp. Announces Intent to Close Initial Business Combination with Stratos Management Systems, Inc. on or about April 6, 2020

Friday, April 3, 2020 - 2:15pm

The Business Combination was approved by the Companys stockholders at the special meeting of stockholders held on February 27, 2020.

Key Points: 
  • The Business Combination was approved by the Companys stockholders at the special meeting of stockholders held on February 27, 2020.
  • Pensare Acquisition Corp.is a special purpose acquisition company that went public on Nasdaq inJuly 2017and was formed for the purpose of effecting a merger, acquisition or similar business combination in the telecommunications, media, and technology (TMT) industries.
  • Pensare is led by ChairmanLarry Mock, Chief Executive OfficerDarrell J. Mays, PresidentRobert Willis, and Chief Strategy OfficerDavid Panton.
  • Pensares securities are quoted on theNasdaq stock exchangeunder the ticker symbols WRLS, WRLSW, WRLSR and WRLSU.

Insight Partners Closes Growth Equity Technology Fund XI at $9.5 Billion

Friday, April 3, 2020 - 1:00pm

NEW YORK, April 3, 2020 /PRNewswire/ -- Global software growth investor Insight Partners ("Insight") today announced the final closing of Insight Partners XI, L.P. ("Fund XI" or the "Fund"), which enhances the firm's capacity to invest in leading high potential software companies.

Key Points: 
  • NEW YORK, April 3, 2020 /PRNewswire/ -- Global software growth investor Insight Partners ("Insight") today announced the final closing of Insight Partners XI, L.P. ("Fund XI" or the "Fund"), which enhances the firm's capacity to invest in leading high potential software companies.
  • Fund XI closed at $9.5 billion receiving strong support from Insight's long-standing investors, as well as notable new investors.
  • Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries.
  • Insight Partners released a Letter to Stakeholders alongside the announcement of Fund XI.

venBio Closes $394 Million Life Sciences Venture Capital Fund

Friday, April 3, 2020 - 1:00pm

venBio Partners LLC today announced the closing of venBio Global Strategic Fund III (venBio Fund III), its third life sciences venture capital fund, exceeding its target and closing on approximately $394 million in capital commitments in an oversubscribed fundraise.

Key Points: 
  • venBio Partners LLC today announced the closing of venBio Global Strategic Fund III (venBio Fund III), its third life sciences venture capital fund, exceeding its target and closing on approximately $394 million in capital commitments in an oversubscribed fundraise.
  • Led by Managing Partners Corey Goodman, Ph.D., Robert Adelman, M.D., and Aaron Royston, M.D., venBio Fund III will continue to invest primarily in therapeutics companies that are developing biopharmaceuticals for unmet medical needs.
  • The venBio team typically leads or co-leads investments and takes an active role with each of their portfolio companies.
  • Established in 2011, venBio Partners is a life science venture capital firm that focuses on novel therapeutics for unmet medical needs.

Strategic Capital Fund Management Hires Chris Flynn to Expand Data Center Team

Friday, April 3, 2020 - 12:00pm

As such, Strategic Capital Fund Management is delighted to announce the hiring of Chris Flynn as Chief Investment Officer of its data center real estate platform.

Key Points: 
  • As such, Strategic Capital Fund Management is delighted to announce the hiring of Chris Flynn as Chief Investment Officer of its data center real estate platform.
  • Mr. Flynn joins Strategic Capital Fund Management from Lightstone Data Fund, where he served as President, and had overall responsibility for the companys investment in digital infrastructure assets, including strategic planning, capital raising, financing, acquisitions, development, operation and leasing.
  • Chriss extensive background, experience and leadership ability make him the ideal Chief Investment Officer for our platform as Strategic Capital Fund Management continues to expand its asset management capabilities.
  • Strategic Capital Fund Management is focused on developing unique alternative investment solutions that provide the potential for attractive risk adjusted returns and preservation of investor capital.

Strategic Investment of NXP in Kalray

Thursday, April 2, 2020 - 10:52pm

Based on the information the company owns, Kalray confirms that its current cash position, including the NXP investment just announced, should allow the Company to develop its technology roadmap, including developments related to the NXP strategic partnership, as well as the commercial deployment, beyond the next twelve months.

Key Points: 
  • Based on the information the company owns, Kalray confirms that its current cash position, including the NXP investment just announced, should allow the Company to develop its technology roadmap, including developments related to the NXP strategic partnership, as well as the commercial deployment, beyond the next twelve months.
  • By this timeframe, Kalray hopes to be in a position to provide more details on the impact of Covid-19 epidemic crisis on its business.
  • NXP Semiconductors N.V. (NASDAQ: NXPI) enables secure connections for a smarter world, advancing solutions that make lives easier, better, and safer.
  • Any decision to subscribe for or purchase the shares or other securities of Kalray must be made solely based on information publicly available about Kalray.

Chewy Announces Fourth Quarter and Full Year 2019 Financial Results

Thursday, April 2, 2020 - 9:10pm

Chewy, Inc. (NYSE: CHWY) (Chewy), a trusted online destination for pet parents, has released its financial results for the fourth quarter and full year 2019 ended February 2, 2020, and posted a letter to its shareholders on its investor relations website at https://investor.chewy.com .

Key Points: 
  • Chewy, Inc. (NYSE: CHWY) (Chewy), a trusted online destination for pet parents, has released its financial results for the fourth quarter and full year 2019 ended February 2, 2020, and posted a letter to its shareholders on its investor relations website at https://investor.chewy.com .
  • Management will host a conference call and webcast to discuss Chewy's financial results today at 5:00 pm ET.
  • See Non-GAAP Financial Measures for additional information on non-GAAP financial measures and a reconciliation to the most comparable GAAP measures.
  • Because of these limitations, you should consider adjusted EBITDA alongside other financial performance measures, including various cash flow metrics, net loss and our other GAAP results.

Plug and Play Partners with Sanofi as Anchor Partner for Innovation Platform

Thursday, April 2, 2020 - 4:00pm

Plug and Play is a world-class global venture capital/accelerator that partners with leading companies to support startups with innovative technologies and ideas.

Key Points: 
  • Plug and Play is a world-class global venture capital/accelerator that partners with leading companies to support startups with innovative technologies and ideas.
  • Sanofi partnered with Plug and Play on the first digital health innovation hub in Europe, called Startup Creasphere, based in Munich.
  • Sanofi also has projects with Plug and Play in Singapore, Brazil, and the United States.
  • Plug and Play is an innovation platform that connects the most innovative startups with the largest corporations in the world.

Ironwood Capital Announces Exit from Performance Team

Thursday, April 2, 2020 - 8:55pm

AVON, CONNECTICUT, April 02, 2020 (GLOBE NEWSWIRE) -- Ironwood Capital is pleased to announce an exit from its subordinated debt investment in Performance Team.

Key Points: 
  • AVON, CONNECTICUT, April 02, 2020 (GLOBE NEWSWIRE) -- Ironwood Capital is pleased to announce an exit from its subordinated debt investment in Performance Team.
  • Headquartered in Los Angeles, California, Performance Team is an end-to-end third-party logistics and distribution provider, offering consolidation, warehousing, distribution and transportation services across the United States.
  • Performance Team manages over 7.0 million square feet of warehouse space and serves over 5,000 customers, noted Ironwood Capital Senior Managing Director Roger Roche .
  • Ironwood Capital is a Connecticut-based private equity firm that provides non-control growth capital to middle market companies, investing more than $750 million in over 135 companies over the past 18 years.

Crashing Oil Prices and Equity Market Volatility Grind Energy Deals to a Halt

Thursday, April 2, 2020 - 2:30pm

In early January, Kimbell Royalty Partners, one of six publicly traded royalty companies, bought a diversified package from private equity sponsored Springbok Energy I & II for $175 million.

Key Points: 
  • In early January, Kimbell Royalty Partners, one of six publicly traded royalty companies, bought a diversified package from private equity sponsored Springbok Energy I & II for $175 million.
  • "Mineral and royalty interests are playing an increasing role in deal markets," said Enverus Market Research Director John Spears.
  • "We expect additional capital will be interested in deploying here, even in a down market.
  • It remains to be seen when buyers may feel comfortable enough with the market to commit to deals.

Private Equity Liquidity Hit by 10% VaR Caused by Coronavirus Crisis

Thursday, April 2, 2020 - 1:38pm

By studying previous crash scenarios and comparing to the impact of the current crisis, CEPRES experts are now applying a 10% VaR liquidity forecast to their simulations for the 2020 and 2021 projections.

Key Points: 
  • By studying previous crash scenarios and comparing to the impact of the current crisis, CEPRES experts are now applying a 10% VaR liquidity forecast to their simulations for the 2020 and 2021 projections.
  • Further details of model assumptions:
    The current shutdown will impact private equity, private real estate, private debt funds, infrastructure and direct investments.
  • In order to avoid liquidity shortfalls, we recommend now to make liquidity decisions based on a 10% VaR scenario."
  • CEPRES began in 2001 as the Center of Private Equity Research and was the first to 'look-through' private market funds to underlying deal and asset performance.