Not displaying correctly? View this email in your browser

NEWSLETTER | 19 Mar 2021

This week Private Equity Wire hosted its PEWire Live Healthcare Investing Summit that brought together GPs, LPS and other private equity experts to share their insights into how to think about deal-sourcing, value creation, innovation and the use of technology within the fast-changing healthcare sector.

With devastating lockdowns and the ever-present threat that Covid-19 continues to pose, the ability to cater to a population's healthcare needs has become top priority for governments and companies alike, a trend that accelerated in 2020 and will reverberate for decades to come. The summit highlighted – among other things – how private capital could be a driver of change within the healthcare sector – something which we saw already early on in the pandemic.

With an ageing population, pandemic weary societies, exponential growth in health and wellbeing spend, and an explosion of health data, it's little wonder that healthcare is a key trend in private equity deal origination, writes Chris Gauld, director at Equator, for PEWire. According to Pitchbook, in 2020, healthcare was the third most active section in US PE deals, and fourth most active sector in Europe. Read Gauld's feature to find out more about recent healthcare deal trends.

This week Tech Nations released its seventh much-awaited annual report on the state of the UK tech sector. It showed that ten scaleups, which between them secured 20 per cent of total UK tech VC investment at USD3.5 billion, drove UK tech in 2020. This prompted seed investor SFC Capital to comment on the importance of having enough early-stage funding available to British startups in order to rebuild the economy.

According to ‘Covid-19 and the world of private equity: optimism in an uncertain environment’, a survey released by audit firm Mazars that gauges investor sentiment in the institutional funding market, private equity investors expect a ‘U-shaped’ recovery as we eventually move out of the current crisis.

Last but not least, Private Equity Wire’s Tuesday podcast featured Albright Capital’s CIO and co-founder John Yonemoto, who has worked through every EM credit crisis since the 1980's. We discussed how EM policy makers responded to the pandemic, whether events that unfolded in 2020 have reinforced some of the beliefs LPs might hold regarding EM private markets, and some of the investment risk disparities between developed and emerging markets at the moment.

Karin Wasteson
Editor, Private Equity Wire

Fri | 19 Mar 2021, 13:13

Pollinate, a global software business that partners with banks to help them deepen and extend relationships with business customers, has closed a USD50 million Series C funding round, led by Insight Partners, a global venture capital and private equity firm.

Fri | 19 Mar 2021, 13:13

Gravie, a specialist in defined contribution healthcare, has raised USD28 million in a Series D round of financing led by AXA Venture Partners (AVP), with participation from existing investors FirstMark Capital, Split Rock Ventures and Revelation Partners.

Fri | 19 Mar 2021, 13:13

Commonfund Capitalhas closed Commonfund Venture Partners XIII (CVP XIII) at its hard cap of USD625 million. The oversubscribed fund had strong participation from existing investors, as well as select new institutional limited partners. Investors in the fund include foundations, endowments, pensions, healthcare systems and family offices.

Fri | 19 Mar 2021, 13:13

Currencies Direct, a specialist in digital foreign exchange (FX) and international payment services to high value private clients and SMEs, has completed a GBP165 million dividend recapitalisation.

Fulfilment solution Cubyn raises EUR35m to expand in France and across Europe

Fri | 19 Mar 2021, 13:13

On-demand fulfilment start-up Cubyn has raised EUR35 million in a funding round led by Eurazeo and Bpifrance Large Venture, with new participation from First Bridge Ventures and Fuse Venture Partners, and follow-on funding from DN Capital, 360 Capital, Bpifrance Smart Cities fund and BNPP Développement.

Fri | 19 Mar 2021, 13:13

Eurazeo, via its Eurazeo PME subsidiary, has signed an exclusivity agreement under which it would invest, as a majority shareholder, alongside Groupe Premium’s current shareholders – Montefiore Investment, Groupe Premium’s management including Olivier Farouz, Laurent and Didier Zerbib, Benoît Jauvert and other key executives, together with independent agent partners.

Fri | 19 Mar 2021, 13:13

AMC Capital IV, advised by Mezzanine Management, has made an investmenmt in Plasta Group, which comprises Lithuanian recycled plastic rubbish bag producer Plasta and Swedish producer Rullpack.

Fri | 19 Mar 2021, 13:13

Citizens M&A Advisory announced has served as the exclusive financial adviser to trustaff Management and CardioSolution on their recapitalisation by Cornell Capital and Trilantic North America, two New York-based private equity firms.

Blue Point acquires Weaver Leather

Fri | 19 Mar 2021, 13:13

Blue Point Capital Partners has acquired Weaver Leather, its ninth Blue Point IV platform investment.

NewSpring Invests in Blo Blow Dry Bar

Fri | 19 Mar 2021, 13:13

Private equity investor NewSpring's latest strategy, NewSpring Franchise, has invested in Blo Blow Dry Bar (Blo), North America’s original blow dry bar franchise.

Fri | 19 Mar 2021, 13:13

Chasm Partners has ChasmDILIGENCE, a new solution aimed at providing insights to help private equity and venture capital investors perform human capital diligence at deal stage.

2020 sees record investment and M&A activity in impact technology companies

Fri | 19 Mar 2021, 13:13

2020 was a record year for investment and M&A activity for impact technology companies, according to a report by GB Bullhound, a technology advisory and investment firm.

Fri | 19 Mar 2021, 13:13

Global consultancy Kearney has promoted Alberto Fumo to European lead for the firm’s Private Equity and M&A practice (PEMA). Based in London, Fumo has risen through the ranks in the firm over the last eight years developing the PEMA practice.