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Weekly Deals and Funds Roundup: 31 August 200531/08/2005. Source: AltAssets. 
 A selection of the latest deal and fund news from across the globe - essential reading for those who need to keep up-to-date with the industry's key developments.
This weekly roundup provides an update on deals and fund activity that did not feature as separate stories in AltAssets' daily news service.
DEALS
Apax Partners has acquired a significant minority stake in Midasplayer.com, an online games site where players win cash prizes by participating in casual game tournaments. Players join tournaments to compete against other real players of similar skill levels to win money or points.
Michael Chalfen, partner at Apax Partners, said, 'Midasplayer.com has made rapid progress in the skill gaming category and is emerging as the sector leader across Europe and the US. Midasplayer has become the chosen skill gaming partner for distributors across Europe. Its proven economic advantage for European partners creates the opportunity for the company to win distribution in the US and Asia and it already has a significant distribution pipeline outside Europe.'
Toronto-based private equity firm Whitecastle Private Equity Partners has completed an investment in Turtle Island Recycling Corporation. Financial terms of the transaction have not been disclosed. Turtle Island is a recycling and waste management company in the Greater Toronto Area. The company was founded in the early 1990s by Ted Manziaris and Louis Anagnostakos, and both of them will continue in their current management roles.
FUNDS
PRIVEQ has completed an initial closing of PRIVEQ III on Can$40m. With its new fund the firm will continue to focus on providing equity to profitable niche manufacturing and niche service companies located within five hours travel from Toronto. Initial investments will range from $2-6m. PRIVEQ III brings the firm's total capital under management to $75m.
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