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USA, Aquiline Capital Partners Invests in Global Alternative Investment Manager Nexar

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Aquiline Capital Partners LLC, a New York-based private equity firm investing in financial services enterprises invested in Nexar Capital Group, a global investment management firm, which today announced its launch.
Aquiline will support the expansion of Nexar’s investment platform, global distribution network and investor service capability, as well as fund strategic acquisitions.
Nexar’s clients have access to a range of funds of hedge funds, volatility arbitrage hedge funds and client-specific hedge fund portfolios.
New York and Paris based Nexar was founded by industry veterans who built a market-leading hedge fund business at Société Générale Asset Management Alternative Investments, led by Arié Assayag, Chief Executive Officer; Eric Attias, Chief Investment Officer; and Bernard Kalfon, Head of Volatility Strategies.
The partners at Nexar include a seasoned team of professionals who previously worked together:
– Paulo Baia, Head of Research;
– Douglas Siekierski, Chief Operating Officer;
– Patrick Palffy, Chief Operating Officer – Europe;
– Jason Lovelace, Chief Risk Officer;
– Corinne Andre, Head of Sales – Europe.
FinSMEs
16/09/2009

Intesa San Paolo Bank, €3bn to Support Italian Artisans

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IntesaSanPaolo Banking Group and Italian artisan associations, which include Confartigianato, CNA, and Casartigiani, signed an agreement to channel €3bn to Italian small businesses. 
In Italy, there are approximately 1.470.000 artisans (28% of the total) employing around 21% of total workers.
Under the agreement, IntesaSanPaolo will provide companies with working capital they need to deal with the difficulties in the current economic phase and with financial help to boost their assets, improve their rating and, therefore, increase their chance to further access to credit.
The agreement is aimed to support artisans through tailored financial products and simplified processes to obtain loans. The capillar presence of both artisans associations, which have some 2,500 territorial structures,  and the 6,000 branches of the 22 banks of IntesaSanPaolo Group distributed at a local level, guarantees the proximity to SMEs in every part of the country.
FinSMEs
15/09/2009

Lower Inflation Fall Does Not Weaken Case For Further Stimulus, UK BCC said

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Commenting on the inflation data for August, published today by the Office for National Statistics (ONS), David Kern, Chief Economist at the British Chambers of Commerce (BCC), said that the figures do not alter the basic fact that signs of recovery remain fragile, and the main policy priority is to avoid a set back.
According to ONS, in August, the Consumer Prices Index (CPI) fell from 1.8% to 1.6% and the headline rate of Retail Prices Index (RPI) inflation rose to minus 1.3% from minus 1.4% in July.
Kern added that “The persistent weakness in bank lending is still a major problem, which threatens small firms in particular. Against this background, it is important for the Bank of England’s Monetary Policy Committee to increase the quantitative easing programme to £200bn, and to consider special measures, such as a negative interest on deposits held by banks at the Bank of England”.
FinSMEs
15/09/2009

UK, Skyvision raised $25m Financing

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Skyvision, a UK-based provider of IP services over satellite and terrestrial fibre optic systems, raised $25m from Citi Venture Capital International.
Skyvision has coverage over 120 countries and currently operates in more than 50 countries around the world with sales in 2009 estimated to exceed US $80m. SkyVision is a leader in its field in Africa where it services the largest and most respected telcos, mobile operators, corporations and public sector customers.
The company is controlled by Cyphertech and Shamrock, the investment arm of the Roy E. Disney family.
The investment will be made through a wholly owned subsidiary of the Citigroup Venture Capital International Africa Fund L.P (CVCIAF), a private equity fund advised by Citi Venture Capital International.

After it, Cyphertech and Shamrock will hold approximately 30% each, CVCIAF will hold approximately 23%, and the remainder will be held principally by management and employees.
FinSMEs
15/09/2009

USA, Alvine Pharmaceuticals Raises $21.5M Series A Extension Funding

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Alvine Pharmaceuticals, a biopharmaceutical company focused on developing and commercializing therapeutics for autoimmune/gastrointestinal diseases, closed a $21.5m extension of its Series A financing.
New investor Panorama Capital led the round and joined existing investors including InterWest Partners, Prospect Venture Partners, Sofinnova Ventures, Black River Asset Management and Flagship Ventures.
The new funds will be used to finance the San Carlos, CA.-based Company’s recently initiated Phase 2a clinical trial of its lead compound ALV003 for the treatment of celiac disease.
Commenting on the financing, Abhay Joshi, Ph.D., President and Chief Executive Officer of Alvine, said “This funding will support the continued development of ALV003 as an innovative protease therapy for the treatment of celiac disease, and further our goal to be the leading company in this space.
“We are pleased to have the committed support of our existing investors and to welcome our new investor, Panorama Capital, given their history of backing high quality biopharmaceutical companies”.
Gaurav Aggarwal, M.D. of Panorama Capital has joined Alvine’s Board of Directors.
FinSMEs
15/09/2009

USA, Oyster Hotel Reviews Secures $4 Million Second Round of Funding

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Oyster Hotel Reviews secured an additional $4m funding from Bain Capital Ventures.
Founded in March 2008 and launched in June 2009, Oyster Hotel Reviews is dedicated to publishing objective, in-depth reviews, written by journalists, of the New York Las Vegas, Miami, Aruba, Jamaica hotels.
The new funds will be used to expand its coverage to include several West Coast destinations.
Commenting on the financing, Elie Seidman, co-founder and CEO of Oyster Hotel Reviews, was reported as saying: “We are thrilled that Bain Capital made this additional investment in our vision for Oyster.
We remain dedicated to providing the most comprehensive, in-depth, and unbiased hotel reviews anywhere on the web”.
FinSMEs
15/09/2009

Israeli Perfecto Mobile Raises $7M Second Round Financing

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Perfecto Mobile, a global provider of remote access and automated testing solutions for mobile devices, closed a $7m second round of financing led by existing investors Carmel Ventures and Vertex Venture Capital.
Perfecto Mobile will use the funds to expand its Handset Cloud testing service as well as for ramping up marketing and sales activities.
Commenting on the funding, Eran Yaniv, CEO of Perfecto Mobile Yaniv said that with the new proceeds Perfecto Mobile will be able to reach more developers and better address their needs by increasing the number of handsets available for testing in more geographical locations.
Founded in 2006, the company is headquartered in Petach Tivkva, Israel.
FinSMEs
15/09/2009

UK West Midlands, £24.3M to Support Knowledge Transfer

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The University of Wolverhampton has been awarded £24.3 million in order to manage an initiative for increasing Knowledge Transfer in the West Midlands.

The cash injection, from Advantage West Midlands, the European Regional Development Fund and the Technology Strategy Board, will increase Knowledge Transfer Partnerships (KTPs) within the region allowing universities to work with companies on projects which will improve their competitiveness, productivity and safeguard jobs through the better use of knowledge, technology and skills that reside within the UK knowledge base.

Knowledge Transfer Partnerships last from 12 to 36 months (with a Government subsidy of up to 60% available) and involve the creation of a partnership between a company and an academic institute, enabling access to the skills and expertise available. Through a KTP, a recently  qualified graduate is recruited to work at the company on the project, supported by an academic supervisor, who also remains linked to the project to provide consultancy support to the business.
Wolverhampton will lead a consortium of all 12 of the regional universities to increase the number of partnerships from 70 to 210 over the next three years.
FinSMEs
14/09/2009

UK West Midlands, £40m to help SMEs increase innovation

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More than £40m is being invested in seven Government-funded “Solutions for Business” products, which will help small and medium-sized businesses across the West Midlands to develop their innovative capacity.
The support will be delivered through a collaboration of government agencies, universities, European funding and Business Link to provide a range of services in the areas of knowledge transfer and innovation support.
The following organisations are involved in providing help:
– Regional development agency Advantage West Midlands (AWM),
– Technology Strategy Board (TSB),
– Business Link West Midlands (BLWM),
– Higher Education Funding Council for England (HEFCE),
– University of Wolverhampton,
– Aston University,
– Coventry University.
The universities will be called to drive forward the investment in Knowledge Transfer Partnerships, Innovation Networks and Innovation Vouchers while Business Link West Midlands will enhance its core services to focus on innovation, resource efficiency and design.
Detailed information on the support will be communicated directly at a territorial level to the SMEs in the coming weeks and months.
FinSMEs
14/09/2009

Ozmo Devices Raises $7.5M Series C Venture Funding

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Ozmo Devices, a Palo Alto, Ca.-based provider of low-power Wi-Fi Personal Area Network solutions, received $7.5m in Series C funding from its current investors – Granite Ventures, Intel Capital and Tallwood Venture Capital.
The company, which also has offices in the UK, provides the low-power Wi-Fi Personal Area Network solutions enabling high performance wireless connectivity between low-power peripherals (such as mice and headsets) to Wi-Fi-enabled platforms such as PCs, smartphones, multi-media players, and game consoles.
According to Dave Lyon, Chief Executive Officer of the Ozmo, the investment will allow the company to expand its sales and field engineering activities and continue its state-of-the-art development efforts.
FinSMEs
14/09/2009

Tervela Closed $18 Million Financing to Fund Its Expansion

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Tervela, the New-York-based provider of open, intelligent, hardware-accelerated messaging systems, completed a $18m equity financing from its existing investors Goldman Sachs, Sigma Partners, Acartha Group and North Hill Ventures.
 
According to Eric Schnadig, CEO of Tervela, the funds will be used to continue the growth into existing and new sectors of financial services, as well as to expand the offerings to other global sectors that face massive data challenges. 
 
Since its creation in 2004, Tervela has raised a total of $50 million in venture capital, supporting the company’s growth and product development. 
 
In June 2009, Tervela launched the latest version of its main product, the TMX-500.
 
FinSMEs
 
14/09/2009

UK Trade & Investment to Hold Seminars to Help SMEs Go Abroad

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UK Trade&Investment – the Government body that supports British companies develop their international trade – is organising 4 free seminars across the West Midlands over the coming months.
The “Gateway to Global Growth” seminars, which will be delivered by the Midlands World Trade Forum (MWTF), are aimed at small and medium enterprises (SMEs) that are seeking to grow their export business.
The breakfast events will give strategic advice showing firms the support available through UK Trade&Investment.
The seminars will feature a specialist speaker with specific knowledge of the following themes:
-Managing Export Debts, Friday 16 October at the Stoke-on-Trent Moat House,
-Protecting Your Brand Overseas, Thursday 19 November at the National Motorcycle Museum, Bickenhill, Solihull
-Researching Export Markets, Wednesday 24 February 2010 at the Bromsgrove Hilton, Birmingham Road, Bromsgrove
-Export Communications, Thursday 25 March 2010 at the National Metalforming Centre, West Bromwich
To book a free place, contact Glenis Poletti at MWTF on Tel: 0121 607 1759; Email: [email protected]
For further information, visit the UKTI’s website www.uktradeinvest.gov.uk or telephone +44 (0)20 7215 8000.
FinSMEs
14/09/2009

USA, Soane Energy Secures First Round of Institutional Financing

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Cambridge, MA.-based Soane Energy, focused on reducing the environmental impact of crude oil exploration and production, secured its first institutional financing in a round led by Intervale Capital and also included CTTV Investments, the venture capital arm of Chevron Technology Ventures.
The company’s initial focus is on the oil sands market in Canada.
David Soane, Ph.D., founder of Soane Energy said: “The US Department of Energy projects that our reliance on fossil fuels will actually increase over the next two decades.
“While alternative energy will fulfill our power needs of tomorrow, Soane Energy’s technology can be applied today to improve the efficiency of oil and gas extraction and reduce the environmental impact of exploration and production”. 
FinSMEs
14/09/2009

Canada, Verafin Closes $5.5m Financing

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Verafin, a canadian provider of anti-money laundering and fraud detection solutions for the financial services industry, closed a $5.5m equity financing in a round led by RBC Venture Partners, the venture capital investment arm of Royal Bank of Canada.
Current investor Killick Capital and founding Verafin investor Jamfin also participated in the funding.
The proceeds will support Verafin to extend its offering to a wider range of institutions including the larger bank market.
As part of the investment, Robert Antoniades, Managing Director and David Unsworth, Director of RBC Venture Partners, will be joining Verafin’s board of directors.
The company is Based in St. John’s, Newfoundland and Labrador.
FinSMEs
14/09/2009

USA, Provider of Virtual Events InXpo Secures $9M in Funding

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InXpo, a Provider of Virtual Events, secured $9 Million in first-round funding led by Highland Capital Partners.

The funds will be used to expand market leadership and drive innovation in virtual events industry.
Chicago-based InXpo’s suite of solutions includes Virtual Trade Shows, Virtual Career Fairs, Virtual Corporate Events and Virtual Business Communities, as well as Audio and Video Webcasts. These virtual solutions have the advantage to reduce travel time and related costs, in addition to making the world a greener place to live.
Commenting on the recent growth of the company, Malcolm Lotzof, CEO of InXpo said”We have always known that continuously increasing travel costs and related inconveniences, combined with rapidly improving social media technologies, would make the adoption of virtual events a force of nature rather than a question. The current economic landscape has fueled this transformation and as a result, InXpo is accelerating the delivery and robustness of its platform to deal with the related surge in demand for its products and services”. 
InXpo’s global customers include AAA, Cisco, Forbes, PennWell, Procter & Gamble, TechTarget and Ziff Davis Enterprises. 
FinSMEs
14/09/2009
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