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Private equity and venture capital news from Germany

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• Earlybird Venture Capital hires Intel adviser 02 Aug 2010. Source: AltAssets. German firm Earlybird Venture Capital has added Jason Whitmire, who previously advised technology giant Intel Corporation on its mobile software strategy, as a partner to focus on early stage investments in the mobile services, cloud computing and digital media technologies sectors.

• Oaktree preps counter-proposal for Almatis restructure 30 Jul 2010. Source: AltAssets. Oaktree Capital, the US private equity firm that focuses on distressed debt investments, is prepping a counter-proposal for the restructuring of debt-ridden German aluminium company Almatis, in an attempt to gain control from Dubai International Capital, according to the Financial Times.

• WHEB Ventures backs German recycler Friedola Tech with €10.8m 06 Jul 2010. Source: AltAssets. Cleantech private equity firm WHEB Ventures has invested €10.8m into German recycled plastics processing and products business Friedola Tech.

• Riverside makes noise with Teufel secondary sale 30 Jun 2010. Source: AltAssets. US mid-market specialist The Riverside Company has sold off Teufel Speakers to HgCapital in a secondary sale, an exit strategy that is showing itself to be the norm as private equity firms continue to return to business.

• Gilde closes fourth fund on €800m 30 Jun 2010. Source: AltAssets. European private equity firm Gilde Buy Out Partners has closed its latest fund targeting French, Benelux and German-speaking regions on €800m.

• German VC Earlybird in deal spree 25 Jun 2010. Source: AltAssets. Earlybird Venture Capital has shown that it is very much business as usual for the German firm as it has put its latest fund to work, backing three start-ups in simultaneous deals.

• BASF beats out Lubrizol to pick up PE-owned Cognis 23 Jun 2010. Source: AltAssets. The private equity owners of German specialty additives company Cognis have reached a deal to sell the business to BASF, the world’s largest chemical maker.

• Cinven battles lenders for control of truck parts company JOST 07 Jun 2010. Source: AltAssets. Cinven is battling with lenders and debtholders for control of beleaguered portfolio company JOST Werke, according to Debtwire.

• Ventizz expands partner team with promotion 02 Jun 2010. Source: AltAssets. German private equity firm Ventizz Capital Partners has expanded its team of partners with the promotion of Björn Söndgerath as a fourth member of the team.

• UK Future Technology Fund makes second commitment 01 Jun 2010. Source: AltAssets. A UK government-backed fund of funds initiative to stimulate technological innovation in the country has made its second commitment, to a fund managed by Acton Capital Partners.

• TVM Capital regroups with two specialist teams 28 May 2010. Source: AltAssets. Munich- and Boston-based private equity firm TVM Capital has regrouped its life science investment practice by separating operations into two specialist teams: a life science-focused venture capital arm and healthcare private equity division.

• Biopharma company NOXXON raises €33m 27 May 2010. Source: AltAssets. NOXXON Pharma, a Berlin-based biopharmaceuticals company developing oligonucleotide therapeutics for the treatment of cancer and diabetes, has raised a €33m Series D round led by new investor NGN Capital.

• HgCapital locks on to SimonsVoss Technologies 26 May 2010. Source: AltAssets. HgCapital, one of the most active UK private equity houses so far this year, has made its latest move with the acquisition of SimonsVoss Technologies, a Munich-headquartered maker of radio-based digital door lock sytems.

• Palamon sells last of Six Flag theme park purchases 19 May 2010. Source: AltAssets. London mid-market private equity firm Palamon Capital Partners has sold film-themed German attraction Movie Park Germany to Madrid-based entertainment operator Marques Reunidos.

• Permira, GS Capital near Cognis deal with BASF 07 May 2010. Source: AltAssets. The world’s largest chemical maker is nearing a deal to acquire German additives company Cognis from its private equity owners, according to reports.

• Affimed raises €20m autoimmune antibody development funding 04 May 2010. Source: AltAssets. German therapeutic antibody developer Affimed has raised €20m in a series C funding round. The fundraising was led by existing investors Aeris Capital, BioMedInvest, LSP Life Sciences Partners, Novo Nordisk and Orbimed, although existing investors may be joining the round at a later date, according to the company.

• Permira slams Hugo Boss takeover rumours 16 Apr 2010. Source: AltAssets. UK private equity firm Permira has dismissed market chatter about a potential change of ownership at portfolio company, German fashion label Hugo Boss, according to Reuters.

• Wellington appoints former Enecsys chairman as venture partner 13 Apr 2010. Source: AltAssets. Global cleantech-focused firm Wellington Partners has appointed former Enecsys executive chairman Mossadiq Umedaly as venture partner.

• German pharma giant Boehringer Ingelheim launches €100m life science fund 01 Apr 2010. Source: AltAssets. German pharmaceutical giant Boehringer Ingelheim has launched a corporate venture capital fund to stimulate innovation in the life sciences sector.

• Gimv pumps capital into aortic valve implant start-up 30 Mar 2010. Source: AltAssets. JenaValve, a German medical device company that focuses on the implant of new aortic valves, has raised a hefty €19m from in a series B round of financing. Belgian private equity firm led the round and was joined by Atlas Venture, Edmond de Rothschild Investment Partners, Neomed Management, VI Partners and Sunstone Capital.

• HgCapital steps into talent management software business via MBO 30 Mar 2010. Source: AltAssets. HgCapital has agreed to the acquisition of StepStone Solutions, the talent management division of e-recruitment software company StepStone, the second deal announced by the UK private equity firm in the last few days.

• BC Partners’ Brenntag completes IPO 30 Mar 2010. Source: AltAssets. Brenntag, a chemical distribution group owned by private equity firm BC Partners, has completed an initial public offering, with the share sale raising €748m.

• Apax charity backs development finance advisory firm 25 Mar 2010. Source: AltAssets. Buy-out house Apax Partners has made an investment via its charity unit, the Apax Foundation, acquiring a 20 per cent stake in Germany’s Finance in Motion for an undisclosed sum.