VC & PE International

Private equity news for the day!!! 🚀 The Public Utility Commission (Vermont Public) has approved a $3.1 billion deal for Searchlight Capital Partners to acquire Consolidated Communications. 📅 Date: Nov 28, 2024 📍 Location: Washington, USA The Vermont Public Utilities Commission has approved the $3.1 billion sale of Consolidated Communications to private equity firms Searchlight Capital Partners and BCI (British Columbia Investment Management Corporation). 🏗️ What does this mean? 🌐 Over 250,000 fiber internet subscriptions will now come under the new ownership. 📶 A commitment to 50,000 new fiber passings in Vermont by 2025. 💬 Michael Shultz, Senior VP for Regulatory and Public Policy at Consolidated Communications, shared: "We are pleased with the outcome and look forward to proceeding with fiber expansion in Vermont." 🌐 Consolidated Communications operates across 22 states, including Maine and New Hampshire in New England, with its headquarters in Mattoon, Illinois. 🔎 What’s next? The Federal Communications Commission (FCC) is the next to weigh in. A decision is expected by late Q4 2024 or early Q1 2025. 📝 Did you know? The Vermont approval came with conditions, including: 📄 Semi-annual reports on staffing levels. 🔧 Updates on copper network maintenance plans in Vermont. 💡 What are your thoughts on the future of fiber expansion under private equity ownership? Will this move accelerate connectivity or present new challenges? Let’s discuss below! 👇 Disclaimer: This content is generated by AI and may not fully reflect the latest updates or developments. Always verify with official sources for the most accurate information. #PrivateEquity #FiberExpansion #VermontNews #TechNews #ConsolidatedCommunications #FiberInternet #TelecomNews #SearchlightCapital #DigitalTransformation #TelecomIndustry

Private Equity news for the day!!! California-based private equity firm Accel-KKR raises $2.2 billion for its first Strategic Capital Fund, focused on software investments. 📅 Date: Nov 26, 2024 📍 Location: Menlo Park, CA, USA Accel-KKR, a global leader in technology-focused investments, has successfully raised $2.2 billion for its newest fund, AKKR Strategic Capital LP. This milestone marks their first fund dedicated to secondary market investments leveraging external capital—solidifying their expertise in software and tech-enabled services. 📊 Key Highlights of AKKR Strategic Capital LP 💰 Fund Size: $2.2 billion in commitments from a diverse group of investors, including Ardian (lead investor), StepStone Group, Adams Street Partners, CPP Investments | Investissements RPC, and others. 🔗 GP Commitment: Approximately 24% of the fund's total capital is committed by Accel-KKR and its affiliates. 🌐 Market Focus: Secondary market transactions in the software industry, including GP-led continuation vehicles (CVs) and broader secondary opportunities. 🔎 Accel-KKR’s Proven Experience Accel-KKR is no stranger to the secondary market: 📅 15+ years of secondary market activity, primarily funded by their own balance sheet. 🏆 Successful GP-led continuation vehicles: ✅ 2022: Accel-KKR CV IV – $1.765 billion continuation vehicle for its 2013 buyout fund ($875M vintage). ✅ 2019: Accel-KKR CV III – $1.386 billion continuation vehicle for its 2008 buyout fund ($600M vintage). 💬 Leadership Perspective 💡 Tom Barnds, Co-Managing Partner: "The secondary private equity market is growing rapidly, particularly in GP-led continuation vehicles. With our deep expertise in software and tech-enabled services, we are positioned to bring unmatched value to this space." 🔍 Rob Palumbo, Co-Managing Partner: "We are thrilled to expand our secondary market investments and partner with experienced investors in this fund to deliver sustainable growth." 🌍 Accel-KKR by the Numbers 📅 Founded: 2000. 📈 Capital Raised: $21 billion across 18 funds. 🌟 Portfolio: Investments in 450+ technology companies globally. 💼 Strategies: Buyout, Emerging Buyout, Growth Capital, Credit, and Strategic Capital funds. 💡 Why It Matters This fund will allow Accel-KKR to: ✅ Lead investments in other sponsors’ continuation vehicles featuring software assets. ✅ Continue its legacy of backing high-growth software and tech-enabled services companies. ✅ Partner with institutional investors active in the secondary market. 🤔 What’s your take on the growth of GP-led continuation vehicles in private equity? Are we entering a golden era for secondaries in software-focused funds? Let’s discuss below! 👇 Disclaimer: This content is generated by AI and may not fully reflect the latest updates or developments. Always verify with official sources for the most accurate information. #PrivateEquity #AccelKKR #SecondaryMarket #TechInvestments #SoftwareInnovation

Private Equvity News for the day! Permira Acquires Minority Stake in K-Way, the Renowned French Premium Outerwear Brand MILAN, Oct 25 - Private equity firm Permira has finalized a deal with BasicNet SpA (BCNT.MI) to purchase around 40% of K-Way, which sets the overall valuation of the company at €505 million ($545.80 million), as announced by the Italian outerwear and sportswear group on Friday. About K-Way: Founded in 1965 in Paris, K-Way has become a leader in outdoor-inspired lifestyle fashion, known for its signature waterproof packable jacket, the Claude. With a blend of exceptional craftsmanship and innovative design, K-Way captures the hearts of customers worldwide with its timeless appeal. 🌈👗 Key Highlights: Brand Leadership: Strengthening K-Way’s presence in France and Italy 🇫🇷🇮🇹 Expansion: Opening new stores and expanding product ranges 🏬✨ International Growth: Accelerating K-Way's global footprint 🌏 What Both Leaderships Say About the Deal: 🗣️✨ Marco Boglione, Chairman of BasicNet: “This moment is as crucial as our earlier milestones. We’re excited to welcome Permira to the K-Way family!” Alessandro Boglione & Lorenzo Boglione, Executive Vice Presidents: “Permira’s expertise and resources will be pivotal in driving K-Way’s sustainable growth and innovation.” Francesco Pascalizi, Partner at Permira: “K-Way is a brand we truly admire. We can’t wait to embark on this journey together!” Sebastien Floch, Principal at Permira: “K-Way is a brand with real scarcity value and universal appeal. We're excited to support its success!” 🔍 The Future is Bright! With over €15 billion invested in iconic brands like Golden Goose, HUGO BOSS, and Dr. Martens plc, Permira is committed to making K-Way a leading player in the premium outerwear market. 🔍 What are your thoughts? How do you see this partnership shaping the future of K-Way? Share your insights in the comments below! Disclaimer: This content is generated by AI and may not fully reflect the latest updates or developments. Always verify with official sources for the most accurate information. #Permira #KWay #Investment #Growth #Fashion #Outerwear #Partnership

Venture Capital News for the Day! 🚀 Concentric AI Raises $45 Million to Expand Go-To-Market Strategies! San Francisco-based AI firm Concentric AI, a leader in AI-driven data security solutions, has announced a successful $45 million Series B funding round, bringing total funding to over $67 million. 🎉 📅 Date: Oct 24, 2024 📍 Location: San Francisco, USA. Led by:   🔹 Top Tier Capital Partners 🔹 HarbourVest Partners 🔹 CyberFuture (also participated)   🔹 Existing investors: Ballistic Ventures, Engineering Capital, and more. 📈 Key Highlights: - Garth Timoll, Sr. Sr. joins the Concentric AI Board of Directors. - Funding will expand market strategies and enhance data security innovations. 💬 Quotes: > “Concentric AI is transforming how organizations protect their data.” — Garth Timoll, Sr. > “Concentric AI has the best AI-driven product in the market.” — Barmak Meftah, Ballistic Ventures > “Their capabilities cover both on-premises and cloud environments.” — Jesse Whaley, CyberFuture 📊 Growth Stats: - 300% year-over-year growth 🚀 - Tripled customer count in under 6 months! With the rise of generative AI tools like Microsoft Copilot, the demand for effective data security governance has never been higher. 🔐 Client Spotlight: > “We’ve moved to a robust, AI-driven data governance system.” — Jason Frame, CIO, Southern Nevada Health District 🌍 Market Outlook: The Data Security Governance market is projected to exceed $8 billion by 2027, growing at over 30% annually! Key drivers include: - 📈 Increased Data Breaches - 📜 Regulatory Requirements - ☁️ Cloud Migration - 🔒 Data Privacy Awareness 🤝 A Word from Leadership: “We're excited to welcome our new partners and enhance our capabilities to meet the growing demand for AI-driven security solutions.” — Karthik Krishnan, Founder & CEO 🚀 Join the conversation! How do you think advancements in AI will shape data governance? Let us know below! Disclaimer: This content is generated by AI and may not fully reflect the latest updates or developments. Always verify with official sources for the most accurate information. #ConcentricAI #DataSecurity #AI #Investment #Funding #TopTierCapital #HarbourVest #CyberFuture #StartupGrowth #DataGovernance

Venture Capital News for the Day! 🚀 San Francisco-based Galileo, the leading platform for enterprise Gen AI evaluation, has secured $45M in Series B funding🎉 📅 Date: Oct 16, 2024 📍 Location: San Francisco, USA. Gen AI company Galileo 🔭 has raised $45 million in Series B funding, led by Scale Venture Partners and joined by Premji Invest. With this round, the total funding has now reached $68 million! 🔥 What’s the Buzz? A staggering 834% revenue growth has been seen since the beginning of 2024, along with a quadrupling of enterprise customers. Notably, six Fortune 50 companies, including Comcast and Twilio, have come on board! 👥 Strategic investors, such as Databricks Ventures, ServiceNow Ventures, and Amex Ventures, have also shown support, alongside AI leaders like Clement Clem Delangue (CEO of Hugging Face) and Ankit Sobti (CTO of Postman). Additionally, Andy Vitus from Scale will be joining our board! 🔍 Why Does This Matter? With challenges in testing and measuring AI accuracy and safety, a surge in demand for Galileo’s Evaluation Intelligence platform has been observed. This platform offers a scalable solution for evaluating, monitoring, and protecting AI systems, ensuring safe and effective performance. 💬 As stated by CEO and co-founder Vikram Chatterji: “Galileo was started three years ago to tackle AI's measurement problem. The research-backed approach and user experience have driven substantial adoption, and this funding will significantly boost development.” 🌟 Key Trends Driving Growth: 1. Enterprise Adoption of GenAI: By 2026, it’s projected that over 80% of enterprises will integrate GenAI APIs or deploy GenAI-enabled applications.    2. Access for Developers: With 30 million software developers entering the AI space, the need for standardized evaluation frameworks has become pressing—nearly 50% of organizations are still relying on subjective human feedback. 3. Advanced AI Methods: The demand for robust evaluation tools is intensifying as methods like Retrieval-Augmented Generation (RAG) are adopted. 💡 Industry Insights: “Galileo’s innovation in overcoming evaluation hurdles provides a complete view of GenAI apps’ performance,” shares Jim Nottingham, SVP at HP Inc. 🌐 Join the Conversation! As this exciting journey unfolds, thoughts and experiences about the impact of evaluation on the future of AI are welcomed. How do you envision evaluation shaping the AI landscape? 🤔 Your insights are eagerly anticipated! Share in the comments below! ⬇️ Disclaimer: This content is generated by AI and may not fully reflect the latest updates or developments. Always verify with official sources for the most accurate information. #GenAI #AI #Funding #SeriesBFunding #Investment #TechStartups #Innovation #MachineLearning #ArtificialIntelligence #Galileo #ScaleVenturePartners #PremjiInvest #AIObservability #EnterpriseAI #StartupFunding #TechNews

Venture Capital News for the day!!! 🚀 Tamil Nadu (🌟 one of the fastest-growing states in India)’s Own Y Combinator: MudhalVC Launched, Fueling Local Brands with Capital to Go Global! Suresh Sambandam, Founder and CEO of Kissflow, Co-founder of SaaSBoomi and a key advocate for Tamil Nadu’s Trillion Dollar GDP vision, has launched MudhalVC bringing "adventure capital" to idea-stage startups. 🎯 Mission MudhalVC's mission is to spark mass entrepreneurship across Tamil Nadu, with a special focus on Tier 2 and Tier 3 cities. Through its accelerator program, Idea Pattarai MudhalVC nurtures innovation and empowers early-stage founders. By focusing on grassroots development, they are committed to building the next generation of entrepreneurs. 💼 Portfolio MudhalVC’s investments span across exciting sectors such as Food-tech, EV, Health-tech, SaaS and Bio-tech. Their portfolio already includes impressive startups like: - Amura Health 🏥 - Bversity School of Bioscience 🎓 - BookingBee.ai 🐝 - Meen Satti 🐟🍲 - Mushroom Mama 🍄 - PickMyAd 🎯 - Social Gallery 🖼️ - Inspection One 🔍 - Bad Boy 😎 - CorrectMate ✅ - TrashBotics Tech ♻️🤖 ...and many more! 💡 Empowering Founders from Day One What truly sets MudhalVC apart is their boldness in investing in founders with just a compelling idea and a committed team—no formal pitch deck required! Their unique 4C model focuses on: - 🧐 Clarity - 🎯 Character - 💡 Competence - 🤝 Commitment This ensures that founders are well-prepared before any capital is deployed. As a "Coach-first, Capital-second" firm, MudhalVC helps entrepreneurs build a solid foundation, with investments ranging from: - ₹10 lakhs (approx. $12,000 USD) - To ₹1 crore (approx. $120,000 USD) 💰 Investment Plan Over the next 3-4 years, MudhalVC plans to invest nearly ₹125 crores (approx. $15 million USD) in two phases: - Phase 1: Funded by family funds - Phase 2: Partnering with LPs for follow-on investments, after 2-3 years, following a model similar to Y Combinator in Silicon Valley. Key People: - Suresh Sambandam, General Partner, MudhalVC - Arun Karthik P, Head | Investments & Strategy, MudhalVC - Aravind Suresh, Managing Partner, MudhalVC 🌟 Why It's Exciting MudhalVC is exclusively focused on startups from Tamil Nadu, creating a solid foundation for the state’s entrepreneurial future! Get ready to watch these founders turn their ideas into impactful businesses, driving both local and global change! Disclaimer: This content is generated by AI and may not fully reflect the latest updates or developments. Always verify with official sources for the most accurate information. #VentureCapital #MudhalVC #StartupIndia #Entrepreneurship #Innovation #Investment #TamilNadu #FoodTech #HealthTech #DreamTN

Venture Capital News for the day!!! 🚀 Tamil Nadu (🌟 one of the fastest-growing states in India)’s Own Y Combinator: MudhalVC Launched, Fueling Local Brands with Capital to Go Global! Suresh Sambandam, Founder and CEO of Kissflow, Co-founder of SaaSBoomi and a key advocate for Tamil Nadu’s Trillion Dollar GDP vision, has launched MudhalVC bringing "adventure capital" to idea-stage startups. 🎯 Mission MudhalVC's mission is to spark mass entrepreneurship across Tamil Nadu, with a special focus on Tier 2 and Tier 3 cities. Through its accelerator program, Idea Pattarai MudhalVC nurtures innovation and empowers early-stage founders. By focusing on grassroots development, they are committed to building the next generation of entrepreneurs. 💼 Portfolio MudhalVC’s investments span across exciting sectors such as Food-tech, EV, Health-tech, SaaS and Bio-tech. Their portfolio already includes impressive startups like: - Amura Health 🏥 - Bversity School of Bioscience 🎓 - BookingBee.ai 🐝 - Meen Satti 🐟🍲 - Mushroom Mama 🍄 - PickMyAd 🎯 - Social Gallery 🖼️ - Inspection One 🔍 - Bad Boy 😎 - CorrectMate ✅ - TrashBotics Tech ♻️🤖 ...and many more! 💡 Empowering Founders from Day One What truly sets MudhalVC apart is their boldness in investing in founders with just a compelling idea and a committed team—no formal pitch deck required! Their unique 4C model focuses on: - 🧐 Clarity - 🎯 Character - 💡 Competence - 🤝 Commitment This ensures that founders are well-prepared before any capital is deployed. As a "Coach-first, Capital-second" firm, MudhalVC helps entrepreneurs build a solid foundation, with investments ranging from: - ₹10 lakhs (approx. $12,000 USD) - To ₹1 crore (approx. $120,000 USD) 💰 Investment Plan Over the next 3-4 years, MudhalVC plans to invest nearly ₹125 crores (approx. $15 million USD) in two phases: - Phase 1: Funded by family funds - Phase 2: Partnering with LPs for follow-on investments, after 2-3 years, following a model similar to Y Combinator in Silicon Valley. Key People: - Suresh Sambandam, General Partner, MudhalVC - Arun Karthik P, Head | Investments & Strategy, MudhalVC - Aravind Suresh, Managing Partner, MudhalVC 🌟 Why It's Exciting MudhalVC is exclusively focused on startups from Tamil Nadu, creating a solid foundation for the state’s entrepreneurial future! Get ready to watch these founders turn their ideas into impactful businesses, driving both local and global change! Disclaimer: This content is generated by AI and may not fully reflect the latest updates or developments. Always verify with official sources for the most accurate information. #VentureCapital #MudhalVC #StartupIndia #Entrepreneurship #Innovation #Investment #TamilNadu #FoodTech #HealthTech #DreamTN

Private Equity News for the day!!! New York-based private equity firm Warburg Pincus LLC is exiting India's CarTrade.com by selling a $45 million stake in the company. 📅 Date: September 26, 2024 📍 Location: Bangalore, India. Private equity firm Warburg Pincus's unit sold its entire 8.6% stake in Indian automobile portal CarTrade Tech (CART.BO), opens new tab on Tuesday through a bulk deal worth 3.75 billion rupees ($44.86 million), according to NSE data. As of June 30, Warburg Pincus owned more than 4 million shares in CarTrade through its unit Highdell Investment, holding a little over 4% ownership stake at that time, according to LSEG data. Highdell sold its entire stake at a price of 920.3 rupees per share, a near 6% discount to CarTrade's closing price on Monday. Mirae Asset Mutual Fund (India) purchased over 3 million shares at an average price of 920 rupees per share. What are the potential strategic implications of this exit for CarTrade Tech's future growth plans, including acquisitions or partnerships? Disclaimer: This content is generated by AI and may not fully reflect the latest updates or developments. Always verify with official sources for the most accurate information.

Venture Capital News for the day!!! Visa processing platform Atlys raises $20 million in Series B funding Atlys has raised $20 million in its latest funding round from Peak XV Partners and Elevation Capital, who co-led the Series B funding round for the visa processing platform. The funds will be used to fuel the company's expansion plans, enhance product development and engineering capabilities, and focus on Indian travelers. Mohak Nahta, CEO and founder of Atlys, states that with outbound tourism surging from India, "the need for a seamless, on-time visa process is more critical than ever." The company uses automation to streamline the visa application process across 150 international destinations. Last year, approximately 30 million Indians traveled abroad, with 43% coming from Tier 2 and 3 cities. Shraeyansh Thakur, principal at Peak XV Partners, added, “Travel continues to see strong tailwinds globally, and our thesis is that visas are just the starting point. We believe Atlys can go on to become a broader travel services platform for a range of use cases for travellers globally, and we are excited to deepen the partnership with Mohak and the Atlys team on this journey. Mayank Khanduja, partner at Elevation Capital, said, “Atlys is one of the most innovative products to emerge in the travel space in a long time—a space where many have focused on transaction revenue without addressing the real pain points of global travellers. We believe in their long-term vision and the value they are creating for global travellers in today’s fast-paced world.” Do you think the increasing number of Indian travelers will lead to more competition in the visa processing market? Disclaimer: This content is generated by AI and may not fully reflect the latest updates or developments. Always verify with official sources for the most accurate information.

Venture Capital News for the Day! Myntra Co-founder Mukesh Bansal’s New Startup Nurix AI Raises $27.5M Mukesh Bansal, co-founder of Myntra and Curefit - house of cult has launched his latest venture, Nurix AI, which just raised $27.5 million in funding from General Catalyst, Accel, and Meraki Labs How do you see AI shaping the future of customer experience? Disclaimer: This content is generated by AI and may not fully reflect the latest updates or developments. Always verify with official sources for the most accurate information.