Business capital – Angil http://angil.org/ Fri, 17 Sep 2021 16:09:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://angil.org/wp-content/uploads/2021/06/icon-2021-06-29T195041.460-150x150.png Business capital – Angil http://angil.org/ 32 32 Banks beware, Amazon and Walmart crack the finance code https://angil.org/banks-beware-amazon-and-walmart-crack-the-finance-code/ https://angil.org/banks-beware-amazon-and-walmart-crack-the-finance-code/#respond Fri, 17 Sep 2021 16:09:00 +0000 https://angil.org/banks-beware-amazon-and-walmart-crack-the-finance-code/ Investments in integrated finance jump in 2021, data shows Buy now, pay later, offers take center stage Fintech market valuations overtake banks LONDON, September 17 (Reuters) – Anyone can be a banker these days, all you need is the right code. Global brands from Mercedes and Amazon (AMZN.O) to IKEA and Walmart (WMT.N) cut out […]]]>
  • Investments in integrated finance jump in 2021, data shows
  • Buy now, pay later, offers take center stage
  • Fintech market valuations overtake banks

LONDON, September 17 (Reuters) – Anyone can be a banker these days, all you need is the right code.

Global brands from Mercedes and Amazon (AMZN.O) to IKEA and Walmart (WMT.N) cut out traditional financial intermediaries and connect software from tech startups to bring customers everything from banking and credit to insurance .

For established financial institutions, the warning signs are flashing.

So-called integrated financing – a fancy term for companies integrating software to offer financial services – means that Amazon can allow customers to “buy now and pay later” when they upgrade. checkout and Mercedes drivers can charge their cars for their fuel.

While banks are still at the origin of most transactions, investors and analysts say the risk for traditional lenders is that they are far from the beginning of the financial chain.

And that means they’ll be further removed from the mountains of data others are collecting about their customers’ preferences and behaviors – data that could be crucial in giving them an edge over banks in financial services.

“Integrated financial services take the concept of cross-selling to new heights. They are built on an ongoing, software-based data relationship with the consumer and the business, ”said Matt Harris, partner of investor Bain Capital Ventures.

“This is why this revolution is so important,” he said. “This means that all the good risks will go to these integrated companies who know so much about their customers and what is left will go to the banks and insurance companies.”

WHERE DO YOU WANT TO PLAY?

For now, many areas of integrated finance are barely shaking the dominance of banks and although some new entrants are licensed to offer regulated services such as lending, they lack the scale and funds to build on. deep funding from the biggest banks.

But if fintech firms, or fintechs, can match their success by capturing some of the banks’ digital payments – and ramping up their ratings in the process – lenders may have to respond, analysts say.

Stripe, for example, the payment platform behind many sites with customers including Amazon and Alphabet (GOOGL.O) Google, was valued at $ 95 billion in March. Read more

Accenture estimated in 2019 that new entrants to the payments market had amassed 8% of global revenue – and that share has grown in the past year as the pandemic has boosted digital payments and impacted traditional payments, said Alan McIntyre, senior director of banking at Accenture, said.

Now the focus is on loans, as well as off-the-shelf digital lenders with a variety of products that businesses can choose from and integrate into their processes.

“The vast majority of consumer-centric businesses will be able to launch financial products that will significantly improve their customer experience,” said Luca Bocchio, partner at venture capital firm Accel.

“This is why we are so excited about this space.”

So far this year, investors have invested $ 4.25 billion in integrated finance startups, nearly three times the amount in 2020, according to data provided to Reuters by PitchBook.

Swedish company BNPL (buy now pay later) Klarna, which has raised $ 1.9 billion, is leading the way.

DriveWealth, which sells technology that allows companies to offer fractional stock exchanges, has attracted $ 459 million while investors have invested $ 229 million in Solarisbank, a licensed German digital bank that offers a range of software banking services.

Shares of Affirm (AFRM.O), meanwhile, surged last month when it partnered with Amazon to offer BNPL products, while US rival Fintech Square (SQ.N) announced the Last month it bought Australian company BNPL Afterpay (APT.AX) for $ 29 billion.

Square is now worth $ 113 billion, more than Europe’s most valued bank, HSBC (HSBA.L), at $ 105 billion.

“Big banks and insurers will lose out if they don’t act quickly and figure out where to play in this market,” said Simon Torrance, founder of Embedded Finance & Super App Strategies.

Reuters Charts

DO YOU NEED A LOAN !

Several other retailers have announced plans this year to expand their financial services.

Walmart launched a fintech startup with investment firm Ribbit Capital in January to develop financial products for its employees and customers while IKEA took a minority stake in BNPL Jifiti last month.

Automakers such as Volkswagen’s Audi (VOWG_p.DE) and Tata’s Jaguar Land Rover (TAMO.NS) have experimented with integrating payment technology into their vehicles to facilitate payment, in addition to the Mercedes by Daimler (DAIGn.DE).

“Customers expect services, including financial services, to be directly integrated at the point of consumption and to be convenient, digital and immediately accessible,” said Roland Folz, Managing Director of Solarisbank, which provides banking services to more than 50 companies, including Samsung. .

It’s not just end consumers who are targeted by integrated finance startups. Businesses themselves are strained as their digital data is processed by fintechs such as Shopify of Canada (SHOP.TO).

It provides software to merchants and its Shopify Capital division also offers cash advances, based on analysis of over 70 million data points on its platform.

“No merchant comes to us and tells us I would like a loan. We go to the merchants and tell them, we think it’s time to finance you,” said Kaz Nejatian, vice president, products, merchant services. at Shopify.

“We don’t ask for business plans, we don’t ask for tax returns, we don’t ask for tax returns, and we don’t ask for personal guarantees. Not because we are benevolent, but because we believe that those- these are bad on the odds of success on the Internet, ”he said.

A Shopify spokesperson said funding increased from $ 200 million to $ 2 million. It provided $ 2.3 billion in cumulative capital advances and is valued at $ 184 billion, well above the Royal Bank of Canada (RY.TO), the country’s largest traditional lender.

FUTURE CONNECTED?

Shopify’s lending business is still overshadowed by the big banks, however. JPMorgan Chase & Co (JPM.N), for example, had a portfolio of consumer and community loans worth $ 435 billion at the end of June.

Major advances in financing companies in other sectors could also be constrained by regulators.

Officials at the Bank for International Settlements, a consortium of central banks and financial regulators, warned watchdogs last month to tackle the growing influence of tech companies in finance. Read more

Bain’s Harris said financial regulators take the approach that because they don’t know how to regulate tech companies, they insist there is a bank behind every transaction – but that doesn’t mean banks would prevent fintechs from encroaching.

“They are right that banks will always have a role but it is not a very rewarding role and it involves very little customer ownership,” he said.

Forrester analyst Jacob Morgan said banks need to decide where they want to be in the financial chain.

“Can they afford to fight for the primacy of the customer, or do they really see a more profitable path to the market to become the rails that other people run on?” ” he said. “Some banks will choose to do both.”

And some are already fighting.

Citigroup (CN) has partnered with Google on bank accounts, Goldman Sachs (GS.N) provides credit cards to Apple (AAPL.O) and JPMorgan purchases 75% of Volkswagen’s payments business and plans to expand to other sectors. read more 06:00:00

“Connectivity between different systems is the future,” said Shahrokh Moinian, head of wholesale payments, EMEA, at JPMorgan. “We want to be the leader.”

Reporting by Anna Irrera and Iain Withers; Editing by Rachel Armstrong and David Clarke

Our Standards: Thomson Reuters Trust Principles.


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Corporate Debt – Meaning, Structure and How Does It Work? – Forbes Advisor INDIA https://angil.org/corporate-debt-meaning-structure-and-how-does-it-work-forbes-advisor-india/ https://angil.org/corporate-debt-meaning-structure-and-how-does-it-work-forbes-advisor-india/#respond Thu, 16 Sep 2021 17:08:11 +0000 https://angil.org/corporate-debt-meaning-structure-and-how-does-it-work-forbes-advisor-india/ Venture capital debt is a form of debt financing, typically a senior secured non-convertible loan, offered to new age venture capital backed companies. It serves as a strategic tool to complement equity financing and, if incorporated effectively, presents various effective use cases for new age businesses, including: Protect equity dilution – By using debt as […]]]>

Venture capital debt is a form of debt financing, typically a senior secured non-convertible loan, offered to new age venture capital backed companies. It serves as a strategic tool to complement equity financing and, if incorporated effectively, presents various effective use cases for new age businesses, including:

  • Protect equity dilution – By using debt as growth capital, companies can achieve high levels of growth without having to dilute equity.
  • Extension of the track between laps – Debt is often used to lengthen the track between rounds. For entrepreneurs, this means greater capacity to raise capital in the future.
  • Inadequate financing of working capital – It can be used to finance the working capital needs of rapidly growing businesses that require large investments in working capital.
  • Financing of capital investments – When bank financing is not sustainable, risky debt can be an important tool for financing capital spending and business acquisitions.
  • Create a credit report – By deploying a healthy capital mix of debt and equity financing, businesses can establish a stable credit history at an early stage.

How is corporate debt structured?

  • The underlying instrument of risky debt is a “non-convertible debenture” (NCD).
  • CRS are coupon-bearing instruments issued by the borrower to the lender.
  • In addition to this coupon-bearing instrument, the lender also subscribes for warrants for shares of the borrower.
  • Warrants are a security which gives its holder the right (but not the obligation) to subscribe to the capital of the company at a certain price within a specified period.

How is venture capital debt different from equity financing?

  • Equity is the most expensive source of finance for a business, and the opportunity cost of allocating equity is high. Entrepreneurs therefore need to focus on maintaining an optimal mix of capital between debt and equity. In the beginning, when the company is working on the adequacy of its product market and has not yet established its revenue model, equity should be the main external source of capital.
  • When the business enters the expansion phase and must need additional capital to grow, debt can supplement equity by replacing it for predictable use cases (for example, financing working capital) .
  • In all foreseeable use cases, replacing equity with debt is more efficient (for example, financing working capital).

Main differences between equity financing and debt financing:

What parameters do subprime debt funds consider before investing?

Company-related settings

A fund analyzes certain key parameters related to the company and the industry to make investment decisions:

  • The strength of the founders and key leaders: The qualities that the funds look for in founders will include domain expertise, vision and the ability to build strong teams, among others.
  • Existing investors support the business: Lenders are comforted by the quality of the investors and their willingness to support the business in the future.
  • Established revenue model and healthy margins: High growth companies with an established revenue model and high margins can strategically allocate debt to support their current operations and scale. Most importantly, the business must have a clear path to profitability.
  • Market opportunity: The company must have a large addressable market, a strong fit with the product market, a well-designed go-to-market strategy to use debt capital prudently in order to grow.

Operational parameters

In addition to business metrics, the fund also examines equally important operational parameters:

  • The company’s liquidity position. Efficient liquidity management and a strong liquidity position mean financial prudence.
  • Scalability of the relationship. The funds establish a full working relationship and become anchored in the business as it grows.
  • Company-defined protocols to ensure data integrity. Without data integrity, information would be a diminished source at best. The relationship must be built on a solid foundation of trust.
  • Corporate governance framework. The company must balance the interests of management, employees, investors and various other stakeholders in a transparent and objective manner. High standards of governance indicate how the affairs of the company are controlled and operated.

How can investors invest in venture capital debt?

Risk debt funds are structured as Alternative Investment Funds (AIFs) in India. AIFs are private investment vehicles for investing in non-traditional asset classes such as infrastructure funds, private equity funds, venture capital funds, among others. They allow investors to diversify from traditional asset classes such as public equities and debt securities.

The stock market regulator, Securities and Exchange Board of India (SEBI) has imposed a minimum limit of INR 1 crore to be observed for investing in AIF units. Investors can subscribe to the units of an AIF either directly or through distributors appointed by the fund.

Debt-at-risk AIFs generally have a commitment period of four to five years during which the committed capital is recycled. During the commitment period, investors receive quarterly payments that are linked to the NCD coupon-bearing instruments. CRS are financial instruments issued by companies to raise long-term capital through public or private issuance. Unlike convertible instruments, CRSs cannot be converted into shares at any time.

In India, risky debt remains underpenetrated and represents 3-4% of the Indian venture capital ecosystem. This is growing rapidly as the venture capital debt ecosystem matures in the country.

Risks of subprime debt lending that investors should be aware of

Subprime loans are often viewed as higher returns for higher risk. In effect, investors derive the risk associated with venture capital debt from the risk inherent in venture capital. However, the investment thesis and the risk profile are fundamentally different.

  • Subprime loans come with considerable security to protect downside risk. Debt is senior secured debt with a charge on the assets of the company. In addition, borrowers are fast growing, institutionally backed companies with a strong focus on corporate governance and transparency.
  • The returns in the case of venture capital debt are a combination of fixed interest income and rising equity through warrants. This interest income is high yielding and is an attractive alternative to the difficult low yield situation that investors are currently facing. More importantly, these returns are regular and predictable in nature.
  • In addition to fixed income securities, investors can also participate in the upside of shares of portfolio companies in the event that those companies gain in valuation. Venture capital debt allows investors to participate in a structured way in the venture capital ecosystem.

Who should invest in venture capital debt?

Investors can allocate a portion of investable capital to different alternative products depending on their risk appetite and return objectives. High net worth individuals (HNIs) in India are increasingly eager to explore venture capital investing. In recent times, corporate treasuries and other such institutions have started to explore subprime debt as an alternative form of leveraged investment outside of highly rated debt instruments.

However, many of these investors lack the sourcing and selection prowess that venture capitalists (VCs) have and therefore face the challenge of looking for the right deals. Additionally, venture capital funds have an average hold period of eight to 10 years. This can deter new investors, who may shy away from the irrevocable and binding commitment.

This has allowed venture capital debt to serve as an ideal gateway for venture capital investors. The inherently low-risk profile and predictability of subprime loan returns allow investors to gain exposure to growth-stage startups while taking less risk. Investors can participate in the rise of stocks through warrants in any company. With limited drawbacks and potentially high payoffs, investors can test the waters of venture capital investing by partnering with venture capital funds.


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Jessica Leonard joins Evolution Capital Partners as a partner https://angil.org/jessica-leonard-joins-evolution-capital-partners-as-a-partner/ https://angil.org/jessica-leonard-joins-evolution-capital-partners-as-a-partner/#respond Tue, 14 Sep 2021 19:55:00 +0000 https://angil.org/jessica-leonard-joins-evolution-capital-partners-as-a-partner/ CLEVELAND, September 14, 2021 / PRNewswire / – Private equity firm Evolution Capital Partners LLC (“Evolution”) announced today that Jessica leonard, CPA, joined the firm as a partner. She brings with her over 13 years of experience in public accounting. “Jessica has a solid track record of working with a wide range of clients, including […]]]>

CLEVELAND, September 14, 2021 / PRNewswire / – Private equity firm Evolution Capital Partners LLC (“Evolution”) announced today that Jessica leonard, CPA, joined the firm as a partner. She brings with her over 13 years of experience in public accounting.

“Jessica has a solid track record of working with a wide range of clients, including private equity funds and the companies they own, and understands the commitment required to be successful in this industry,” said Jeffrey Kadlic, founding partner of Evolution. “She will be a tremendous asset to our growing team.”

Prior to joining Evolution, Leonard held several positions at RSM US LLP and KPMG, LLP, both in Cleveland. She received her BA and MBA from Baldwin Wallace University. In addition to holding her CPA, she is also a member of the American Institute of Certified Public Accountants and the Ohio Society of CPAs. She has been a member of the Finance and Strategy Committees of the LifeAct Board of Directors since 2014, and of the Accounting Advisory Board of Baldwin Wallace University since 2018.

About Evolution Capital Partners
Evolution Capital Partners is a small business private equity fund that invests nationwide capital in growing microenterprises. Since 2005, Evolution has specialized in helping entrepreneurial businesses transform into professionally managed organizations by providing a solid foundation for profitable growth through its Five Fundamental methodology. As a team of investors, partners and employees, our main passion and motivation is to inspire entrepreneurs and their small businesses to grow and prosper in all economic circumstances. www.evolutioncapitalpartners.com

SOURCE Evolution Capital Partners


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400 Capital Management Completes $ 780 Million Residential NPL Securitizations | Business https://angil.org/400-capital-management-completes-780-million-residential-npl-securitizations-business/ https://angil.org/400-capital-management-completes-780-million-residential-npl-securitizations-business/#respond Fri, 10 Sep 2021 18:58:05 +0000 https://angil.org/400-capital-management-completes-780-million-residential-npl-securitizations-business/ NEW YORK – (BUSINESS WIRE) – Sep 10, 2021– 400 Capital Management LLC (“400CM”, “400 Capital” or the “Firm”), an alternative credit asset manager specializing in structured credit with more than $ 5.2 billion in assets under management, announced the successful closing of two securitizations backed by $ 780.2 million of non-performing residential loans (“NPLs”) […]]]>

NEW YORK – (BUSINESS WIRE) – Sep 10, 2021–

400 Capital Management LLC (“400CM”, “400 Capital” or the “Firm”), an alternative credit asset manager specializing in structured credit with more than $ 5.2 billion in assets under management, announced the successful closing of two securitizations backed by $ 780.2 million of non-performing residential loans (“NPLs”) this summer.

“400 Capital has a long history of investing in the residential credit markets. We are delighted to be able to work with our capital markets partners to open up alternative sources of funding for our investment vehicles, ”said Chris Hentemann, Managing Partner and Chief Investment Officer. “Transactions help the 400 Capital platform become a regular issuer in the capital markets across a range of asset types. “

The Company has entered into the securitizations in order to obtain term financing, eliminate mark-to-market risk, reduce costs and create evolving fixed rate financing. Given the size of the loan pool, 400CM decided to offer two transactions with similar characteristics.

510 Asset Backed (“FTAB”) 2021-NPL1 closed on June 29 and was backed by NPLs with an outstanding capital balance (“UPB”) of $ 397.0 million. The tickets offered reached an 80% advance rate at UPB. The second transaction, FTAB 2021-NPL2, closed on August 11 and was backed at $ 383.2 million from NPL, with a UPB advance rate of 81%. The closings mark a significant milestone for the company and reflect the opportunities offered in this corner of the residential credit markets.

The agents responsible for the transactions are Rushmore Loan Management Services LLC and Columbus Real Estate Management LLC. The program administrator is Truman Capital Advisors, LP.

About 400 Capital Management LLC

400 Capital Management LLC is an employee-owned alternative credit asset manager led by four partners with over three decades of experience in trading, investing and managing risk in the credit and credit markets. securitized with an established investment history over several market cycles. Our management team has demonstrated its ability to generate returns, develop activities in the capital markets and systematically create innovative structures and securitization technologies used across the market. We provide access to a global platform of differentiated total return and absolute return alternative credit investment opportunities through multi-investor and separately managed account vehicles. We manage over $ 5.2 billion in client capital for global public and private pension plans, endowments, foundations, sovereign wealth funds, consultants, insurance groups, family offices and individuals wealthy qualified. Our team consists of 57 professionals with offices in New York and London.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20210910005524/en/

CONTACT: Katrina Allen

Edelman

(917) 640-2753

Katrina.allen@edelman.com

KEYWORD: NEW YORK UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: FINANCING OF PROFESSIONAL SERVICES

SOURCE: 400 Capital Management LLC

Copyright Business Wire 2021.

PUB: 10/09/2021 14:57 / DISC: 10/09/2021 14:58

http://www.businesswire.com/news/home/20210910005524/en

Copyright Business Wire 2021.


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REIT Veteran Hirsch Joins MMM Real Estate Capital Markets Group https://angil.org/reit-veteran-hirsch-joins-mmm-real-estate-capital-markets-group/ https://angil.org/reit-veteran-hirsch-joins-mmm-real-estate-capital-markets-group/#respond Tue, 07 Sep 2021 20:15:00 +0000 https://angil.org/reit-veteran-hirsch-joins-mmm-real-estate-capital-markets-group/ “MMM’s Real Estate Capital Markets practice reflects my business-oriented approach. –Howard Hirsch Tweet this Hirsch has completed multi-billion dollar real estate investment trust (REIT) transactions throughout his 20-year career. He spent over seven years with Griffin Capital Company and its affiliates, most recently as General Counsel and prior to that as Chief Legal Officer and […]]]>

Hirsch has completed multi-billion dollar real estate investment trust (REIT) transactions throughout his 20-year career. He spent over seven years with Griffin Capital Company and its affiliates, most recently as General Counsel and prior to that as Chief Legal Officer and Corporate Secretary of the Board of Directors of Griffin Realty Trust, Inc., a Public REIT based in Los Angeles, California. He joins MMM as Of Counsel.

Hirsch met the president of the RECM group Lauren Prevost and partner Seth Weiner for years. “It was a big selling point – working with people I know well and who reflect my values,” Hirsch said. “MMM’s Real Estate Capital Markets practice reflects my business-oriented approach. We don’t do our clients justice if we don’t think like a business owner. services and advice. “

“Howard is well known in the REIT and alternative investment industries,” said Prevost. “He’s held important leadership roles in industry groups and he’s a frequent speaker at industry conferences – and he’s a great guy to boot. When we heard he was interested in returning Atlanta, Seth and I immediately got to work convincing Howard that MMM is the best place for him to continue practicing law. “

“Bringing in someone with Howard’s talent is great for the business,” Weiner added. “He is a thoughtful and intelligent lawyer and a really good person. He knows everyone in this industry and he is going to be extremely valuable in expanding our client base. We have enjoyed working with him in the past and look forward to working with him. daily. basis. “

As a member of Griffin’s management team, Hirsch has been heavily involved in Griffin’s business decisions. He has also overseen legal matters related to corporate operations, governance, securities, compliance, employment and intellectual property for Griffin and numerous public and private affiliates sponsored by Griffin.

“Howard has been instrumental in the incredible growth of Griffin Capital over the past seven years,” concluded the President and CEO of Griffin Capital. Kevin Shields. “Although we hated to see him go, we are delighted that he has the opportunity to return home for Atlanta and be part of such a respected company in our industry. We look forward to continuing to have Howard represent us externally. ”

Morris, Manning & Martin (www.mmmlaw.com) is an Am Law 200 law firm with national and international reach. We are dedicated to the constant pursuit of our customers’ success. To provide our clients with optimal value, we combine cutting-edge legal services with a full understanding of their needs to maximize effectiveness, efficiency and opportunity. MMM is nationally recognized for its practices in real estate, corporate, litigation, technology, healthcare, intellectual property, capital markets, environment, international trade and assurance.

SOURCE Morris, Manning & Martin, srl


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Albion Venture Capital Trust PLC: Interim management statement https://angil.org/albion-venture-capital-trust-plc-interim-management-statement/ https://angil.org/albion-venture-capital-trust-plc-interim-management-statement/#respond Tue, 07 Sep 2021 10:32:00 +0000 https://angil.org/albion-venture-capital-trust-plc-interim-management-statement/ ALBION VENTURE CAPITAL TRUST PLC LEI code: 213800JKELS32V2OK421 Interim management declaration introduction I am pleased to present the interim management statement of Albion Venture Capital Trust PLC (the “Company”) for the period April 1, 2021 to June 30, 2021. Performance and dividends The unaudited net asset value (NAV) of the Company as of June 30, […]]]>

ALBION VENTURE CAPITAL TRUST PLC

LEI code: 213800JKELS32V2OK421
Interim management declaration

introduction
I am pleased to present the interim management statement of Albion Venture Capital Trust PLC (the “Company”) for the period April 1, 2021 to June 30, 2021.

Performance and dividends

The unaudited net asset value (NAV) of the Company as of June 30, 2021 was £ 73.4 million or 73.81 pence per share (excluding treasury shares), an increase of 0.68 pence per share (0. 9%) since March 31, 2021.

After taking into account the first dividend for the fiscal year ended March 31, 2022 of 1.83 pence per share and the exceptional dividend of 15.00 pence per share paid on July 30, 2021 to shareholders registered on July 9, 2021, the NAV is 56.98 pence per share.

Wallet
The following investments were made during the period from April 1, 2021 to June 30, 2021.

New investments

£ 000

Activity

Gravitee TopCo Limited (T / A gravitee.io)

813

API management platform.

NuvoAir AB

741

Digital therapy and decentralized clinical trials for respiratory conditions.

Brytlyt Limited

577

A GPU database software vendor.

Accelex Technology Limited (T / A Accelex)

324

Data mining and analysis technology for private capital markets.

Total new investments

2 455

Other investments

£ 000

Activity

uLimited Reason

592

A patient engagement and data capture platform for real-world use and observational research.

Top ten titles (as of June 30, 2021)

Investment

Book value

£ 000

% of net asset value

Activity

Hydro River Chonais Limited

4,255

5.8%

Owner and operator of a 2 MW hydroelectric system in the Scottish Highlands.

Radnor House School (TopCo) Limited

2 190

3.0%

Independent school for children from 2 to 18 years old.

Gharagain River Hydro Limited

1780

2.4%

Owner and operator of a 1 MW hydroelectric system in the Scottish Highlands.

Cantab Research Limited (T / A Speechmatics)

1,709

2.3%

Small footprint automated speech recognition provider that can be deployed in the cloud, on-premises or on a device in 29 languages.

The Evewell Group Limited

1,672

2.3%

Operator and developer of women’s health centers focused on fertility.

Limited Expression

1,400

1.9%

AI platform that generates optimized marketing campaigns.

Limited elliptical companies

1,267

1.7%

Provider of anti-money laundering services to digital asset institutions.

Threadneedle Software Holdings Limited (T / A Solidatus)

1,262

1.7%

Provider of data lineage software to corporate clients in regulated industries.

The Street by Street Limited solar program

1,182

1.6%

Owner and operator of photovoltaic systems on domestic properties in the UK.

uLimited Reason

1,113

1.5%

A patient engagement and data capture platform for real-world use and observational research.

A full breakdown of the Company’s portfolio can be found on the Company’s website on the Manager’s website at www.albion.capital/funds/AAVC.

Share buybacks

During the period from April 1, 2021 to June 30, 2021, the Company did not buy back any shares.

The policy of the Board of Directors remains to repurchase shares on the market, subject to the overall constraint that such purchases are in the interest of the Company, including the maintenance of sufficient resources for investment in companies of existing and new portfolio and the ongoing payment of dividends to shareholders.

The board of directors intends these buybacks to be around 5 percent. discount to the net asset value, to the extent that market conditions and liquidity permit.

Board composition and succession planning

The board recognizes the importance of succession planning, including the need to ensure board continuity. As part of this planning, John Kerr intends to retire as a director at the AGM in September 2022. The Nominating Committee will begin a recruitment process to identify candidates and announcements for a new director appointment will be made in due course.

Shareholders seminar

The Board of Directors is pleased to announce that the current intention of the manager, Albion Capital, is to host a physical rather than virtual shareholder seminar this year on November 12, 2021, in central London, including the location remains to be confirmed. This will depend on government guidelines and any changes to them, and we will keep shareholders informed as the date approaches. The Board of Directors and Manager are eager to interact with shareholders and look forward to sharing further portfolio updates with you, as well as answering any questions you may have.

More details will soon be available on the Albion Capital website: www.albion.capital.

Significant events and transactions subsequent to closing

After the end of the period, the Company carried out the following significant investment operations:

  • Investment of £ 409,000 in existing holding company, The Evewell Group Limited, operator and developer of fertility-focused women’s health centers; and

  • Investment of £ 54,000 in existing holding company, Imandra Inc., a provider of automated software testing and enhanced learning experience for artificial neural networks.

More information

The Company continues to offer a dividend reinvestment program to existing shareholders. Details of this plan are available at www.albion.capital/funds/AAVC.

Further information regarding historical and current financial performance and other useful shareholder information is available on the Company’s website on the Manager’s website at www.albion.capital/funds/AAVC.

Richard Glover, President

September 7, 2021

For more information, please contact:

Vikash hansrani

Operations partner

Albion Capital Group LLP

Telephone: 020 7601 1850


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Three law firms prepare investment in Kevin’s Natural Foods https://angil.org/three-law-firms-prepare-investment-in-kevins-natural-foods/ https://angil.org/three-law-firms-prepare-investment-in-kevins-natural-foods/#respond Fri, 03 Sep 2021 19:47:00 +0000 https://angil.org/three-law-firms-prepare-investment-in-kevins-natural-foods/ Sheppard Mullin advises Kevin’s Natural Food TowerBrook Capital Partners enlists longtime advisor Kirkland Hogan Lovells supports regular client NewRoad Capital Partners The names of companies and law firms shown above are generated automatically based on the text of the article. We are improving this functionality as we continue to test and develop in beta. We […]]]>
  • Sheppard Mullin advises Kevin’s Natural Food
  • TowerBrook Capital Partners enlists longtime advisor Kirkland
  • Hogan Lovells supports regular client NewRoad Capital Partners

The names of companies and law firms shown above are generated automatically based on the text of the article. We are improving this functionality as we continue to test and develop in beta. We appreciate comments, which you can provide using the comments tab on the right of the page.

(Reuters) – Healthy packaged meal company Kevin’s Natural Foods, advised by Sheppard, Mullin, Richter & Hampton, has secured an investment for an undisclosed amount from TowerBrook Capital Partners LP and NewRoad Capital Partners.

Investment firms TowerBrook and NewRoad work with Kirkland & Ellis and Hogan Lovells respectively. Towerbrook and NewRoad have injected capital into Kevin’s as investors seek to capitalize on consumer interest in healthier food.

Kirkland partner W. Brian Raftery leads the team advising TowerBrook.

The transaction continues TowerBrook’s long-standing relationship with Kirkland. The company previously advised TowerBrook on its investment in business consultancy firm Eisner Advisory Group, according to a press release in August.

The Hogan Lovells team supporting NewRoad is led by Mark Heimlich, corporate and financial partner. Heimlich represented NewRoad in connection with its investments in physiotherapy service provider Bardavon Health Innovations, freight logistics company Emerge and technology company Platform Science.

For TowerBrook and NewRoad’s latest investment, Kevin’s financial advisor is Wells Fargo Securities LLC.

Launched in 2019, Kevin’s produces chilled entrees, sides, sauces and seasonings without refined sugar or artificial ingredients that can be found at stores such as Whole Foods, Target and Giant. The company is based in Modesto, California.

The investment announcement comes exactly one month after PepsiCo Inc announced it was selling juice brands, including Tropicana and Naked, to expand its offerings of health-focused snacks and calorie-free drinks.

Gibson, Dunn & Crutcher is PepsiCo’s lead counsel on the transaction, with Davis Polk & Wardwell providing tax and antitrust advice. Willkie Farr & Gallagher guides the buyer, PAI Partners, while Latham & Watkins is PAI’s financial advisor.

Read more:

Gibson Dunn and Willkie Farr headline Tropicana sale by PepsiCo, other brands

Sierra Jackson

Sierra Jackson reports on legal matters in major mergers and acquisitions, including transactions, litigation and regulatory changes. Contact her at sierra.jackson@thomsonreuters.com


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Databricks hits $ 38 billion valuation with $ 1.6 billion Series H – TechCrunch https://angil.org/databricks-hits-38-billion-valuation-with-1-6-billion-series-h-techcrunch/ https://angil.org/databricks-hits-38-billion-valuation-with-1-6-billion-series-h-techcrunch/#respond Tue, 31 Aug 2021 22:10:34 +0000 https://angil.org/databricks-hits-38-billion-valuation-with-1-6-billion-series-h-techcrunch/ For a recap of TechCrunch’s most important and important stories delivered to your inbox every day at 3:00 p.m. PDT, subscribe here. Hello and welcome to Daily Crunch for August 31, 2021. Today the TechCrunch machine was busy covering the first day of Y Combinator’s Demo Day event, so expect to see all kinds of […]]]>

For a recap of TechCrunch’s most important and important stories delivered to your inbox every day at 3:00 p.m. PDT, subscribe here.

Hello and welcome to Daily Crunch for August 31, 2021. Today the TechCrunch machine was busy covering the first day of Y Combinator’s Demo Day event, so expect to see all kinds of covers on the site afterwards. that it has reached your inbox. We’ll recap for you in tomorrow’s edition, although we get a taste of it below.

In Disrupt news, TechCrunch brings together an AI investor and a sci-fi author and will have a lot to offer startups that are currently raising external capital. – Alexis

The Top 3 TechCrunch

  • Databricks is now worth $ 38 billion: Data and Unicorn IA Databricks today confirmed its previously reported fundraising event, raising $ 1.6 billion at a valuation of $ 38 billion. TechCrunch spoke with the CEO of the company about the usefulness of money, and we delved into his earnings results a bit more. The the market at an advanced stage has been busy, but this Databricks round is important, even by today’s corporate standards.
  • More African startups than ever in YC batch: As of this writing, Demo Day is underway, so most of our coverage of Day 1 will be over too late to be included. But we took a look at the African startups in the summer batch, and there are more of them than ever. Given how active the African startup market is this year, we are not surprised.
  • Apna could be the next Indian unicorn: By focusing on improving the skills of Indian consumers, Apna could become a unicorn if a cycle led by Tiger Global comes to fruition. TechCrunch reports that the round could be worth $ 100 million at a valuation of over $ 1 billion. Edtech in India remains one of the main startup stories of recent years.

Startups / VC

Because it’s the last day of August, we’re assuming the summer lull in event funding has passed. Not that we’ve really noticed a drop in volume, frankly, but still, expect things to get even crazier in the coming weeks. Here’s a sample of the rounds we covered today:

  • $ 200 million more for Amazon merchants: Beyond Indian edtech companies, another trend that has raised almost infinite funds this year is the raising of capital by startups to buy out smaller e-commerce merchants, often with a focus on those who sell. on Amazon. Heroes is the latest to raise capital for the concept, with the UK-based startup adding a few hundred million to its accounts in one go.
  • Whoop, the Apple Watches Peloton, raises $ 200 million: If you are a user of fitness clothing, you may be familiar with Whoop. The company’s athlete-focused bracelet has helped Whoop raise more than $ 400 million, now valuing the company at $ 3.6 billion. That’s a lot of sleeping bags for a fitness laptop. But since Whoop has a software fee built into their hardware – hence our Peloton analogy – it’s not just another hardware company.
  • Synthetic coffee is coming: Maricel Saenz, Founder and CEO of Compound Foods, wants to create and sell bean-free coffee. Why? Well, climate change is making it harder to grow coffee beans and the process is harsh on the environment. So why not just synthesize your morning Java? I’m ready to give this a try, with the caveat that the coffee tastes delicious, so it will take a little bit of conviction to change my routines.
  • Borzo wants to bring on demand to more markets: Delivery service Dostavista changes its name to Borzo, bringing together its multi-country activities under one brand. The startup, according to TechCrunch, was founded in 2012 and has 2 million customers.
  • Former TechCrunch Disrupt Startup Alley Quip Raises $ 100 Million: Quip is best known as a toothbrush business, but it broke profitability last year, expanded its product line, and landed nine digits in new equity. Today, the company offers a multitude of oral cleaning products as well as invisible tooth aligners.
  • To close our startup coverage today, Peak Raised $ 75 Million to Help Non-Tech Companies Build AI Applications. Peak, based in Manchester, England, wants to help companies that lack in-house AI talent apply the software technique to their own businesses. SoftBank Vision Fund 2 led the latest investment, which the company intends to use to increase its workforce and enter new markets.

6 tips for building your startup’s global supply chain

The barrier to entry for launching hardware startups has fallen; if you can pull off a crowdfunding campaign, you’re probably smart enough to find a factory overseas that can build your widgets to specification.

But global supply chains are fragile: No one expected an off-road container ship to block the Suez Canal for six days. Due to the pandemic, importers are now paying nearly $ 18,000 for shipping containers from China that cost $ 3,300 a year ago.

After spending a career building supply chains on three continents, Liteboxer CEO Jeff Morin wrote a guide to Extra Crunch for founders of computer hardware.

“If you’re clear-headed about the challenges and apply a certain rigor and foresight to the process, the end result can be hard to match,” says Morin.

(Extra Crunch is our membership program, which helps founders and startup teams move forward. You can register here.)

Big Tech Inc.

  • TikTok wants to help match influencers and brands: This is the takeaway from our story today that “TikTok’s New API Creator Marketplace enables influencer marketing firms to tap into first-party data.” Considering everything we’ve read about astroturfing influencers, the concept makes sense. And TikTok wants its main creators to make a lot of money on its platform so that they stay. Expect to see more on other platforms in time.
  • Windows 11 launches on October 5: As a Windows fan (and macOS fan, for the record), I’m in a bit of a rush to try the latest version of Windows, even though I’m worried if my processor is new enough. Either way, the new code drops in early October, so the wait is almost over.
  • You can now troll your friends on Spotify with your musical tastes: Love music? Do you have friends who love music? And do you like music that is different from that of your friends? Good news! Now you can create mixed playlists with your team, so that you end up with a playlist that nobody exactly likes.

TechCrunch Experts: Growth Marketing

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Image credits: SEAN GLADWELL (Opens in a new window) / Getty Images

TechCrunch Disrupt is less than a month away, and we’re excited to share that we’re offering a free ticket through the Experts survey. Check out Disrupt’s timeline and read on to learn more about the giveaway details:

  • Have you already submitted a recommendation? That’s great – we’re counting all previous survey submissions as one entry for the Disruption ticket.
  • We will also enter the next 100 survey submissions into the contest.
  • Want to submit 10 recommendations to increase your chances of winning? We love the enthusiasm, but we ask that you submit only one recommendation for each marketer you’ve worked with.
  • Don’t know what to say in your recommendation? Start with their characteristics, what they have done to help your business, how their work has affected your business and go from there!
  • We are going through all the entries manually, so please do not copy and paste the same answer multiple times.
  • Have a question about the gift? Email us at ec_editors@techcrunch.com.



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In latest tech crackdown, China plans severe algorithm restrictions – TechCrunch https://angil.org/in-latest-tech-crackdown-china-plans-severe-algorithm-restrictions-techcrunch/ https://angil.org/in-latest-tech-crackdown-china-plans-severe-algorithm-restrictions-techcrunch/#respond Fri, 27 Aug 2021 22:14:10 +0000 https://angil.org/in-latest-tech-crackdown-china-plans-severe-algorithm-restrictions-techcrunch/ For a rundown of TechCrunch’s most important and important stories delivered to your inbox every day at 3:00 p.m. PDT, subscribe here. Hello and welcome to Daily Crunch on Friday August 27, 2021. What a week! Over the past 24 hours we’ve had some big news from around the world, including the latest regulatory push […]]]>

For a rundown of TechCrunch’s most important and important stories delivered to your inbox every day at 3:00 p.m. PDT, subscribe here.

Hello and welcome to Daily Crunch on Friday August 27, 2021. What a week! Over the past 24 hours we’ve had some big news from around the world, including the latest regulatory push from China, Apple making modest concessions on the App Store and, of course, plenty of startup news.

Oh, and Canva CEO Melanie Perkins is coming to Disrupt. – Alexis

The Top 3 TechCrunch

  • China will crack down on algorithms: The push to regulate and control China’s domestic tech market more tightly continued on Friday with a government body announcing a draft rule set for algorithms. The new rules come as China seeks to limit collection of corporate data and more. The irony, of course, is dead.
  • Companies cannot get enough start-up capital: That’s what we get from digging into the recent world record corporate venture capital (CVC) results. CVCs participate in more and larger seed funding rounds. We digged into the why and how of the latest data.
  • Apple makes the smallest concession from the App Store: According to a settlement reached today, TechCrunch reports that Apple will now allow apps to “share information on how to pay for purchases outside of their iOS app or the App Store.” Apple called the change a clarification, which was interesting. Apple’s grip on the App Store is still tight, but we can see indicators that its grip is slipping slightly.

Startups / VC

At the top, let’s talk about a16z, the venture capital conglomerate. Of course, it has crypto funds and major funds and other funds in abundance. But today the group announced capital of $ 400 million just for start-up transactions. The size of the fund indicates that a16z expects to pay a lot for start-up equity or that it will make a multitude of bets. We’ll see.

  • Rivian files to be made public: In case you are looking for another EV business to add to your personal investments, good news! Rivian has filed a private request to go public! Frankly, we are excited about this deal; Lordstown this is not the case. The company recently closed $ 2.5 billion in outside capital, bringing it to over $ 10 billion in total. We want to know what all of this funding has done for the company in terms of results.
  • Forbes is also going public: Via a SPAC, let’s note it, but yes, Forbes the media and magazine company is taking advantage of the rise of blank check combinations to make itself known. We dug into his deck to see what the company has planned and to what extent COVID-19 has impacted its bottom line.
  • Toast is also being made public, but yours truly failed to post a post on the topic as of newsletter time. More to come on TechCrunch.com.
  • Payroll API start-up Zeal lifts Series A: The integrated fintech space is busy and competitive, which makes what Zeal is building quite interesting. Is there a large enough market for a single payroll API product? A few years ago I would have quibbled, but if the world of OKR startups has taught me anything, it’s not to underestimate the global demand for software.
  • Sitenna wants to help telecom operators place 5G antennas: Coming in the next batch of startups backed by Y Combinator, Sitenna is looking for a piece of the wave of capital that will push 5G mobile connectivity into our lives. The startup is neat, so read the post, but also keep in mind that the demo day for YC is next week, so we’re heading into a very busy news cycle over the next few days.
  • Sastrify raises $ 7 million: Based in Cologne, Sastrify wants to help businesses buy and manage their SaaS expenses. Why does the world need this? Well, now that all software is a subscription fee, not overpaying and generally knowing what to pay is a big deal. And big business plus a little founder’s work equals a startup. In particular, Sastrify is already a positive cash flow despite his youth.

The pre-pitch: 7 ways to build relationships with VCs

Many founders have to overcome a few emotional hurdles before they feel comfortable presenting a potential investor face-to-face.

To alleviate this pressure, Unicorn Capital founder Evan Fisher recommends that entrepreneurs use pre-pitch meetings to build and strengthen relationships before asking for a check:

It’s the “we’re not actually looking for money; we just want to be friends for now ”which puts you on an investor’s radar so that when it’s time to increase your next turn, they’ll be much more likely to answer the phone because they actually know who you are. are.

Pre-pitches are good for more than just curing nervousness: these conversations help founders get a better idea of ​​how VCs think and sometimes lead to unintended results.

“Investors are opportunists out of necessity,” says Fisher, “so if they like the arrow cut of your business, you never know – the FOMO might start kicking hard.

(Extra Crunch is our membership program, which helps founders and startup teams move forward. You can register here.)

Big Tech Inc.

  • The bad week of the peloton: What happens when you have a lackluster income report – by Wall Street standards – and then you are “assigned by both the US Department of Justice and the Department of Homeland Security”? Well, your stock price is going down and you’re hoping Monday ends up a lot better than Friday.
  • Tesla wants to sell electricity: It’s funny. Through one app, the world learned that Tesla wants to sell electricity in Texas under the rubric of being a retail electricity supplier, which means it can “buy wholesale electricity from groups. generators and sell it to customers, ”according to TechCrunch.
  • Twitter tried to revive the good old days: By having his service stutter and come down for people today. Remember the good old days, when Twitter was crashing all the time? Personally, I miss the Fail Whale. Twitter, we think, doesn’t.
  • In closing, Canonical’s Venky Adivi has some thoughts on open source software and the US government. Spoiler: The news is pretty good.

TechCrunch Experts: Growth Marketing

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Image credits: SEAN GLADWELL (Opens in a new window) / Getty Images

We reach out to startup founders to tell us who they turn to for the most up-to-date growth marketing practices. Complete the survey here.

Read one of the testimonials we received below!

Trader: Natalia Bandach, Hypertry

Recommended by: Jean-Noël Saunier, Growth Hacking Course

Testimony: “Natalia is a person with an original approach to engines of growth and experimentation, full of creative solutions and many ideas that she quickly tests through experimentation. Rather than focusing on one area, she tries to verify what makes the most sense for a business and designs experiences that are not only crucial [in the short term] but also [in the long run]. She is an ethical growth manager, loves knowing that the company brings real value, and is ready to turn in all directions, [which] she does it fast – however, with a focus on team well-being, professional growth and always avoiding burnout.

Community

Image credits: Diversion books

Join Danny Crichton on Twitter spaces Tuesday, August 31 at 1:00 p.m. PDT / 4:00 p.m. EDT as he chats with Azeem Azhar about his upcoming book, “The Exponential Age: How Accelerating Technology is Transforming Business, Politics and Society,” due out September 7, 2021 .



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ClearGov Launches Cloud-Based Capital Budgeting Product https://angil.org/cleargov-launches-cloud-based-capital-budgeting-product/ https://angil.org/cleargov-launches-cloud-based-capital-budgeting-product/#respond Tue, 24 Aug 2021 21:50:06 +0000 https://angil.org/cleargov-launches-cloud-based-capital-budgeting-product/ While local governments monitor the federal infrastructure bill, a Massachusetts-based government technology company aims to help local officials better track investment projects and proposals. ClearGov has launched a cloud-based capital improvement planning product, Capital Budgeting. The software is designed so that local governments can have an efficient, web-based way to track investment project proposals instead […]]]>

While local governments monitor the federal infrastructure bill, a Massachusetts-based government technology company aims to help local officials better track investment projects and proposals.

ClearGov has launched a cloud-based capital improvement planning product, Capital Budgeting. The software is designed so that local governments can have an efficient, web-based way to track investment project proposals instead of relying on multiple Excel spreadsheets, CEO Chris Bullock said.

Applications for capital typically involve various department heads and other government professionals who send their proposals to a central authority within city hall. These proposals, sometimes submitted on paper, are then put together through a process that Bullock has described as laborious.


In contrast, the new product ClearGov aims to centralize the process of applying for capital through a single digital platform through which participants can use web forms, budget projections, legal justifications and other tools.

“They can add images and attachments and insert other items such as capital costs for the next five to 10 years, and add other items such as operational costs, cost savings, and savings. of income, ”Bullock said. “It’s all funneled into a dashboard so they can choose what goes into the budget.”

The product launch represents one of the latest initiatives in the general tech space to replace paper-based processes with digital tools, and stems from ClearGov’s previous efforts to serve local government. As Bullock said, the company already offered capital budgeting services in its previous digital budget management product, and then decided to create this new product after hearing positive customer reviews.

“It’s now a much more robust product and can create multiple budgeting scenarios,” he said.

For example, clients can use the tool to map various capital budgeting scenarios to analyze funding and revenue over multiple years, thus facilitating the decision-making process for larger projects, which often involve projects. major and unique infrastructure. .

Longer term, ClearGov aims to increase the integration of this new product with its four other products it currently sells, which would allow tasks such as better mapping of investment projects and other transparency efforts. budget, he said.

MORE MONEY

The timeline would appear to favor the introduction of a digital tool for planning capital projects, given the activity at the federal level.

“We’ve been planning this for about a year, and it started to become apparent that now was the perfect time for this product,” Bullock said. “There will be a huge amount of money flowing into local governments. “

ClearGov designed this tool for local governments, as these entities typically rely more on relatively low-tech and inefficient solutions than state governments.

“Local governments have been underserved for a very long time and they are stuck with Excel,” said Matt Benati, vice president of marketing for ClearGov.

Bullock said the company has already signed around 100 customers for the new product and expects that number to grow to several hundred in the coming months. To use this product, these customers pay an annual subscription fee based on the size of their budget. The company offers seven pricing levels. It also charges a one-time data integration and training fee.

ClearGov is also launching what Bullock has called a “freemium” version of the tool, called Capital Budgeting Lite.

As the company tries to adopt these tools, ClearGov is also partnering with Edmunds GovTech – whose ERP software is used by some 2,000 local governments in the United States – so that customers of both companies can synchronize data across two platforms.

“Modern government budget solutions that increase efficiency and resident engagement are integral to the lasting success of our clients,” said Bob Edmunds, executive chairman of Edmunds GovTech, in a statement. “We are delighted that Edmund GovTech customers are using ClearGov’s full suite of budgeting solutions, giving them even greater capabilities when it comes to preparing and implementing their annual budgets. ”

Thad Rueter writes about the business of government technology. He has covered local and state government for Chicago and Florida area newspapers, as well as e-commerce, digital payments, and related topics for various publications. He lives in New Orleans.

See more stories from Thad Rueter


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