Next 10 Ventures raises $50 mln

Next 10 Ventures said it has raised $50 million of financing. Its fund will focus on content creators and the firm is founded by Benjamin Grubbs, formerly global director of top creator partnerships at YouTube. A press release follows:   Former YouTube Exec Launches Next 10 Ventures, a $50M Operating Fund for the Creator Economy Accelerates growth of creator-based content, commerce and community in the North America and Asia Pacific regions
LOS ANGELES, Calif. and SINGAPORE (May 16, 2018) – Next 10 Ventures, the first vertically integrated operating fund focusing on content creators, announces it has secured US$50 million in financing. The company will start deploying its capital and management expertise to develop new businesses and technology services centered around the Creator economy that has emerged in the past decade from the mass adoption of digital video and social media platforms. Benjamin Grubbs is the Founder & Chief Executive
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Idinvest Private Debt IV raises 715 mln euros

Idinvest Partners said May 16 that its fourth direct lending fund closed on 715 million euros ($843.67 million), surpassing its 600 million target. Idinvest Private Debt IV focuses on the European lower mid-market segment (enterprise value of between 35 million euros and 250 million euros). PRESS RELEASE Idinvest closes its fourth direct lending fund at €715m
 
Paris, 16 May 2018
 
Idinvest Partners, a leading investor in SMEs across Europe, has today announced the final closing of its fourth direct lending Fund (Idinvest Private Debt IV), at €715m, surpassing its initial target of €600m. More than 60% of the investors are from outside France.
 
Since its launch in 2016, the Idinvest Private Debt IV fund has invested 60% of its total commitments across 17 companies, of which more than 40% based outside France.
 
Focusing on the European lower mid-market segment (enterprise value of between €35m and
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Lerer Hippeau raises $60.6 mln for second select fund

Lerer Hippeau has raised a $60.6 million second “select fund” for follow-on investments in addition to its recent $122 million sixth fund, according to regulatory filings. The New York-based firm makes early-stage investments in consumer, digital media and e-commerce companies, according to the firm’s website. The firm is led by Kenneth Lerer, Ben Lerer and Eric Hippeau. The filing for the select fund lists 35 investors.

Silverton wraps up fifth fund at $108 mln

Austin-based Silverton Partners has closed its fifth fund at $108 million. Among the companies Silverton have backed include Convio, WP Engine, SpareFoot, SailPoint, Silicon Labs, TurnKey, Restream.io and SourceDay. PRESS RELEASE AUSTIN, TX, May 11, 2018 – Silverton Partners, the leading Austin-based venture capital firm, announced today the close of its oversubscribed Fund V at $108M along with realizations from five of its investments. Since its founding in 2006, Silverton has been the leading choice in Austin and beyond for entrepreneurs to fund their early stage businesses. The Firm’s objective has been to provide the first institutional capital and mentorship to young companies, partnering with entrepreneurs to help bring their vision to reality. Headquartered in Austin, TX, Silverton prides itself on taking a distinct perspective to building value and approaching venture capital from a different angle. Since its inception, the Firm has made over 50 investments in capital efficient
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Ardian Infrastructure Fund I raises $800 mln

Ardian said May 15 that its first infrastructure fund dedicated to the U.S. and other OECD American countries has raised $800 million. North American institutional investors, European and Asian pension funds, insurance companies and other institutions, invested in the Ardian pool. PRESS RELEASE ARDIAN RAISES MORE THAN US$800 MILLION FOR INAUGURAL AMERICAN INFRASTRUCTURE FUND Ardian Infrastructure’s latest fund attracts investors seeking American infrastructure investment exposure with high yield contribution and moderate risk approach New York, May 15, 2018: Ardian, a world-leading private investment house, today announces that it raised more than US$800 million for its first infrastructure fund dedicated to the US and other OECD American countries. The fund marks Ardian’s continued expansion into the American market. The fundraising, which was completed in less than six months, attracted a substantial number of North American institutional investors within a diversified global mix that also included commitments from European and Asian pension funds,
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NEA considering large portfolio secondary sale, reports says

New Enterprise Associates is reportedly moving to sell a large piece of its portfolio in an effort to return capital to its limited partners, according to a news report in The Wall Street Journal. The present slowdown in IPOs is leading the firm toward the sale, which the WSJ reported could be valued at about $1 billion and include stakes in about 20 companies. The companies have raised capital from NEA over approximately the past eight to 10 years. The sale is to be made to a new firm NEA will create and which will be run by General Partners Ravi Viswanathan, who would leave NEA, the report said. The new firm would manage the investments. The secondary sale would be among the largest by a venture firm.

Renaissance Venture Capital Fund III raises $81 mln

Renaissance Venture Capital Fund has closed its third fund on $81 million. Renaissance, of Ann Arbor and Detroit, is a venture capital fund-of-funds that invests in VC pools around the country and brings them, as well as their capital, into Michigan’s startup ecosystem. Renaissance’s first fund raised $45 million, while the second pool collected $79 million. PRESS RELEASE
ANN ARBOR, Mich., May 14, 2018 – Renaissance Venture Capital Fund (Renaissance), Michigan’s ground-breaking venture capital fund-of-funds, today announced the closing of its third fund, with $81 million of new capital. The innovative network fund is the largest of its kind in the United States, now with a total of $205 million raised since its inception in 2008.
Renaissance Fund III leverages the same broad, diverse mix of corporate and institutional partners that defined Renaissance’s previous funds. Renaissance Funds I and II, which closed at $45 million and $79 million, respectively,
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Venture Investors targeting $100 mln for healthcare fund

Venture Investors is raising a healthcare venture fund targeted at $100 million, according to a regulatory filing. The firm is led by James Adox, David Arnstein, Scott Button, John Neis, and Paul Weiss, with offices in Madison, Wisconsin, and Ann Arbor, Michigan. The firm makes early-stage investments in therapeutic, diagnostic, medical device, and healthcare IT companies, focusing on the Midwest region, according to its website. The filing for the fund, Venture Investors Health Fund 6 Limited Partnership, lists no investors.

The hidden costs of web migration – four areas for digital due diligence

By Tim Lacey, Infinity Nation Giving companies the budget they need to migrate to new websites and platforms? Sound thinking. Assuming the process will be straightforward and won’t require expert help? Expensive thinking. I’ve recently come across a number of PE investors who have invested in ecommerce businesses either in need of a platform migration or that have just migrated, and who aren’t fully aware of the potential pitfalls and expense that a migration can have from a performance marketing perspective. The potential impact should not be underestimated. I’ve seen 25% to 30% drops in traffic on the back of poorly executed migrations, for which there may be no quick fix. A comprehensive plan that anticipates and addresses these risks well in advance of proceeding with such a project is thus absolutely critical. Here are four key areas you should ensure are covered in digital due diligence or your portfolio CTOs
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CRV raises $600 mln for early-stage and growth investing

Bi-coastal venture firm CRV announced it has raised $600 million for its 17th fund. The firm raised near $400 million for its previous fund, which closed in 2014. The new vehicle will invest in early-stage tech, but with an additional mandate for growth investing. Fund XVII will focus on the enterprise, consumer and bioengineering sectors.

Source: Medium blog post

GLP unveils $1.6 bln PE fund

GLP, a provider of modern logistics facilities and technology-led solutions, has raised $1.6 billion for its first private equity fund. The Hidden Hill Modern Logistics Private Equity Fund will focus on investing in the logistics ecosystem in China. The fund’s investors include insurance companies and China Post Capital. Hidden Hill Capital, GLP China’s private equity platform, will manage the fund. PRESS RELEASE SHANGHAI, May 10, 2018 /PRNewswire/ — GLP, the leading global provider of modern logistics facilities and technology-led solutions, has established its first fund investing beyond real estate. The RMB10 billion (US$1.6 billion[1]) Hidden Hill Modern Logistics Private Equity Fund (“the Fund”) is the only fund in China dedicated to investing in the logistics ecosystem and will be managed by Hidden Hill Capital, the private equity platform of GLP China. Investors in the Fund comprise long-term institutional investors and insurance companies including China Post Capital.
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BGH, formed by ex-TPG, Macquarie execs, closes debut fund on $2 bln

BGH Capital, formed by ex-TPG and Macquarie Capital executives, closed its debut fund on A$2.6 billion ($2 billion) for investments in New Zealand and Australia. BGH was formed by Ben Gray and Simon Harle, formerly of TPG, and Robin Bishop, former head of Australia and New Zealand at Macquarie. Kirkland & Ellis represented BGH in the fundraising. Press Release Kirkland & Ellis represented BGH Capital in the raising of its first private equity fund with a focus on investment in Australia and New Zealand. BGH was founded by Ben Gray and Simon Harle (formerly partners of TPG Capital) and Robin Bishop (formerly head of Macquarie Capital in Australia and New Zealand). The fund, which held its final closing with commitments at around A$2.6 billion (approximately US$2 billion), is the largest ever first time fund focused on investment in Australia and New Zealand. The Kirkland
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Keiretsu Capital secures $4.2 million first close of a blockchain fund of funds

Keiretsu Capital said it completed a $4.2 million first close of a blockchain fund of funds and anticipates a second close in June, with commitments so far of $1.5 million. The firm now has capital under management of more than $23 million. The firm, which is affiliated with the angel network Keiretsu Forum, said it secured investment allocations with Blockchain Capital, Pantera Capital, and Future Perfect Ventures.