Morgan Stanley Investment Management amasses over $1.4 bln for fund

Morgan Stanley Investment Management has raised over $1.4 billion for its North Haven tactical value fund. The fund will invest in “private, long-term and often illiquid opportunities that are identified primarily by leveraging the global Morgan Stanley network and come from a wide range of asset classes, sectors and geographies.” PRESS RELEASE NEW YORK–(BUSINESS WIRE)–Morgan Stanley Investment Management today announced it has raised over $1.4 billion for North Haven Tactical Value Fund LP and its related funds (collectively “NHTV” or the “Fund”), significantly exceeding its original fundraising target. The Fund seeks to invest in private, long-term and often illiquid opportunities that are identified primarily by leveraging the global Morgan Stanley network and come from a wide range of asset classes, sectors and geographies. Investors in the Fund, the first offering from the team, include some of the world’s largest and most sophisticated institutional investors as well as
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Morgan Stanley Investment Management amasses over $1.4 bln for fund

Morgan Stanley Investment Management has raised over $1.4 billion for its North Haven tactical value fund. The fund will invest in “private, long-term and often illiquid opportunities that are identified primarily by leveraging the global Morgan Stanley network and come from a wide range of asset classes, sectors and geographies.” PRESS RELEASE NEW YORK–(BUSINESS WIRE)–Morgan Stanley Investment Management today announced it has raised over $1.4 billion for North Haven Tactical Value Fund LP and its related funds (collectively “NHTV” or the “Fund”), significantly exceeding its original fundraising target. The Fund seeks to invest in private, long-term and often illiquid opportunities that are identified primarily by leveraging the global Morgan Stanley network and come from a wide range of asset classes, sectors and geographies. Investors in the Fund, the first offering from the team, include some of the world’s largest and most sophisticated institutional investors as well as
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Ikove Venture Partners launches $10 mln fund

Ikove Venture Partners, a Midwest venture development company, has launched a $10 million startup nursery fund. The fund will be used to launch 10 to 15 early-stage tech companies. PRESS RELEASE COLUMBUS, Ohio, Dec. 13, 2018 /PRNewswire/ — Ikove Venture Partners, a Midwest venture development company that commercializes early-stage technologies, announced today its first venture development fund, the Startup Nursery (SUN) Fund. The $10 million vehicle will be used to launch 10 to 15 early-stage technology companies through its proprietary Startup Nursery. Ikove’s venture development model identifies and cultivates cutting-edge technologies at leading research institutions, by partnering with inventors and institutions to found new companies around intellectual property. “We’ve reimagined technology commercialization and venture and have developed a unique, scalable, hands-on model to bring transformative technologies to life,” said John D’Orazio, co-founder of Ikove. Ikove has built a structure that leverages world-class talent and harnesses years of research and
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VC-backed Venafi rolls out $12.5 mln fund

Salt Lake City, Utah-based Venafi, a provider of machine identity protection, has launched a $12.5 million machine identity protection development fund. The fund will back machine identity developers. Venafi’s backers include TCV, Foundation Capital, Intel Capital, QuestMark Partners, Mercato Partners and NextEquity. PRESS RELEASE SALT LAKE CITY–(BUSINESS WIRE)–Venafi®, the inventor and leading provider of machine identity protection, today announced the launch of the Machine Identity Protection Development Fund at Machine Identity Protection Live. The first $12.5 million tranche of the fund provides developers with direct sponsorship from Venafi to help accelerate the delivery of comprehensive protection for all machine identities. Venafi will use the Machine Identity Protection Development Fund to sponsor a range of developers, including consultants, systems integrators, fast-moving startups, open-source developers and other cybersecurity vendors. Funded developers will create integrations that ensure every new machine identity is automatically updated in the Venafi Platform. “The Machine
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Luminous Ventures unveils $30 mln fund

London-based Luminous Ventures, a White Cloud Capital spin-out, has launched a $30 million fund. The fund will invest in early-stage European tech companies. PRESS RELEASE LONDON–(BUSINESS WIRE)–Luminous Ventures, an early stage venture fund focused on breakthrough technologies and applied science, today announced that it has spun-out from growth capital fund, White Cloud Capital. The Luminous Ventures portfolio includes Synthace, Hadean, BioBeats, and FaceSoft. Today, Synthace, the company behind the leading cloud software platform for automating and improving the success rate of biological research and development, announced the closing of a $25.6m Series B financing round led by Horizons Ventures with additional investment from Luminous. Tim Fell, CEO at Synthace, commented: “Luminous is a very rare commodity – a European VC with a true Silicon Valley mind and skill set. Added value means properly rolling their sleeves up and joining in, whether it is to help shape go-to-market strategy,
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The Hardware Club closes $50 mln first fund.

The Hardware Club said it completed a final close of its $50 million first fund. The firm, operating from Paris, Tokyo and San Francisco, raised the capital from investors, including Isomer Capital, Draper Esprit, Bpifrance’s French Tech Acceleration funds, Foxconn and Arkéa. A press release follows:   Hardware Club Announces $50 million Final Closing of its first Fund After a first closing in 2017, the Hardware Club almost doubled the size of its first fund to continue investing in hardware and full-stack startups First Hardware Fund in Europe, Hardware Club Fund I welcomes new international investors such as Isomer Capital and Draper Esprit in this final closing Paris, December 11th 2018 – The Hardware Club – first European venture capital fund dedicated to hardware – announces today the final closing of its first fund at 50 million dollars, raised from international investors such as Isomer Capital, Draper Esprit, and Bpifrance’s
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Fusion Fund launches in Ohio

Bounce Innovation Hub, Acquire Investments and JumpStart Inc announced the launch of Fusion Fund, a $20-million, for-profit venture fund aimed at growing companies in and around Ohio. The fund will make seed and early-stage investments in advanced materials, life sciences and tech companies located within a four-hour radius of Akron, Ohio. The fund is currently in due diligence with several companies and looking to raise additional capital, from private and institutional sources, to reach the $20 million target. Source: Press release

JMI Equity closes ninth growth equity fund at $1.2 bln

Baltimore and San Diego-based JMI Equity, a software-focused growth equity firm, has closed its ninth fund at a hard cap of $1.2 billion. JMI Equity Fund IX will make investments from about $15 million to more than $100 million. Proskauer Rose LLP provided legal counsel on the formation of JMI IX. In August 2014, JMI closed its eighth growth equity fund at $1 billion, as previously reported by PE HUB. JMI Equity VIII generated an IRR of 17.63, as of March 31, 2018, according to performance data from the California State Teachers’ Retirement System. Past JMI Investments include Palo Alto, California-based Adaptive Insights, a provider of financial planning software that was acquired by Workday earlier this year for about $1.55 billion; and Redwood City, California-based Eloqua, a software-as-a-service platform for marketing automation that was acquired by Oracle in December 2012 for about $871 million.
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HubSpot launches $30 mln fund

Cambridge, Massachusetts-based HubSpot, a software company, has launched HubSpot Ventures, a $30 million fund, according to a company announcement. HubSpot Ventures is targeting companies “that take the long-view on success by putting their customers first, investing in an inclusive company culture, and delivering highly differentiated products.”  

OAV and Apicil launch insurtech fund

Odysseus Alternative Ventures and French insurer Apicil launched an insurtech fund with a commitment of 10 million euros. The fund will invest in French and European startups seeking to develop new technologies, new business models and new forms of delivery for the insurance sector. PRESS RELEASE London and Paris, December 11th, 2018 – Odysseus Alternative Ventures (OAV), the private equity and venture capital arm of Reech Corporations Group, announces a partnership with the APICIL Group, France’s 4th largest provider of social protection, to create its first Insurtech fund: Insurtech Capital I. Launched with a commitment of €10m, the Fund will invest in a variety of French and European start-ups that are seeking to develop new technologies, new business models and new forms of delivery for the insurance sector. The Fund is targeting investments in innovative companies within the insurance sector which are early stage start-ups (Seed and Series A), leveraging
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Calibrate wraps up maiden fund at nearly $80 mln

Pasadena, California-based Calibrate Ventures, an early-stage venture firm, has closed its debut fund at nearly $80 million. Calibrate Ventures LP’s investors include Shea Ventures and Foundry Group. The fund is targeting initial investments of $5 million in companies generating revenue between $1 million and $5 million. PRESS RELEASE PASADENA, Calif.–(BUSINESS WIRE)–Calibrate Ventures (“Calibrate”), a venture capital firm focused on backing transformative companies across the consumer and enterprise sectors, today announced the successful closing of its inaugural fund, Calibrate Ventures, L.P. (the “Fund”), with nearly $80 million in total capital commitments. Calibrate was founded in 2017 by veteran investors Kevin Dunlap and Jason Schoettler, who have led investments in five $1 billion-plus exits: Chegg, Dollar Shave Club, Ring, ServiceMax, and SolarCity. Based in Pasadena, CA, Calibrate partners with founders of early revenue startups to accelerate growth, drive commercialization, and maximize potential through right-sized financing and expert operational guidance.
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EQT Second European direct lending fund raises 2.3 bln euros

EQT said Dec. 10 that its second European direct lending fund has closed on 2.3 billion euros ($2.63 billion). EQT Mid-Market Credit II will provide financing solutions to European mid-market companies. Thirty percent of the fund has already been committed. PRESS RELEASE EQT Mid-Market Credit II holds final close at EUR 2.3 billion – increasing EQT Credit’s presence in European direct lending  
  • The EQTMid-Market Credit II fund successfully closes at EUR 2.3 billion of available capital, including anticipated leverage – more than four times the size of its predecessor direct lending fund, EQT Mid-Market Credit
  • Continuation of the diligence-led investment strategy succcessfullydeployed by the EQTCredit platform since its inception in 2008
  • Strong support from existing investors and new investors to both EQTandEQT Credit, resulting in a diversified blue-chip investor base of pension funds, insurance companies, family offices and foundations across Europe, North America and Asia
  EQT today announces the final closing of its second European
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