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Weekly Deals and Funds Roundup: 24 September 200824/09/2008. Source: AltAssets. 
 A selection of the latest deals and funds news from across the globe - essential reading for those who need to keep up-to-date with the industry's key developments.
Advent International has acquired Frango Assado, an operator of highway restaurants in Brazil. The value of the transaction was not disclosed. Founded in 1952, Frango Assado operates 12 restaurants and retail stores along roadways in Sao Paulo. The company is projecting sales of over $120m in 2008, according to a statement. The deal is the third Latin American investment announced by Advent this month, following its acquisitions of Dominican Republic Airport operator Aeropuertos Dominicanos Siglo XXI and Brazilian home improvement retailer Quero-Quero. Advent is forming a new company, International Meal Company (IMC), to hold all of its investments in the sector.
Growth private equity and buy-out firm TA Associates has completed a CAN$98m investment in Radialpoint, a Montreal-based provider of managed digital home security and care services. Proceeds from the investment will be used to support growth initiatives of the business, including investment in new products and services, according to a statement. Prior investments in the software sector include BMC Software, Cadence Design Systems, InstallShield Software, McAfee, Monotype Imaging, Numara Software and Sophos.
Smart grid company GridPoint has raised $120m in equity financing. The company has also acquired V2Green, a Seattle company that provides plug-in electric vehicle grid integration technology. Specific investors were not named, but were said to include existing investors. Firms that have invested in previous rounds include Goldman Sachs Group, Susquehanna Private Equity Investments, New Enterprise Associates, Perella Weinberg Partners and Robeco. To date, GridPoint has raised in excess of $220m, according to a statement.
Swedish private equity firm Industrifonden is to invest SEK8m (€834,533) in footwear chain Vincent. The money will be used for Vincent's current international expansion, the firm said. Vincent currently operates around 30 stores in ten countries across Europe. The company reported revenues of SEK22m last year, which it expects to double this year, according to a statement. Industrifonden has total assets of SEK3.5bn.
Connectiva Systems, a provider of revenue and risk management solutions for the telecommunications industry, has completed a $17m round of investment led by Indian venture capital firm NEA - IndoUS Ventures,IFC and SAP Ventures, a division of software investorSAP. Returning investor New York-based Ovation Capital also participated in the round.
Photovoltaic company GreenVolts has secured $30m in Series B funding from US venture capital firm Oak Investment Partners. GreenVolts will use the funds to continue to build out its organisation, accelerate its advanced research and development efforts, and scale capacity for anticipated 2009 deployments, according to a statement. A portion of the funds will also be used for its GV1 project, a non-silicon CPV power plant built as part of its agreement with Pacific Gas & Electric. Oak Investment Partners has a total of $8.4bn in committed capital. The firm's investment focus targets sectors including communications, IT, internet new media, financial services, clean energy, healthcare services and consumer retail.
Energy savings company Microstaq has closed a $12.5m Series B financing round, led by renewable energy and energy efficiency investor Good Energies. The round included follow-on investments from existing investors Yaletown Venture Partners and Polygon Group. Microstaq intends to use the investment to expand the sales and distribution of its patented MEMS-based valve technology, the company said in a statement. Good Energies invests in solar, turbine-based renewables, green building technologies and other emerging areas within clean energy.
Secondary private equity firm Nova Capital Management has sold Gamma radiography NDT systems company QSA Global to Illinois Tools Works. This is the firm's third exit this year. In July, the firm sold software company nCode International for £17.5m. This was followed by the sale of Spanish laboratory equipment company Afora. Nova currently manages investments in over 50 businesses primarily operating in Western Europe and the US, across a range of sectors.
Australian software company Aconex has secured AUS$107.5m in funding from US technology investor Francisco Partners. The investment represents one of the largest private equity capital raisings by an Australian technology company. Aconex will allocate this round of funding primarily into product development, acquisitions that broaden the company's geographic reach and product suite, and entry into new markets, the company said in a statement. Francisco Partners has some $5bn of committed capital and operates from offices in San Francisco and London.
Perseus, a merchant bank and private equity fund management company, has agreed to acquire the Physicians Interactive business unit from clinical software company Allscripts Healthcare Solutions. Financial terms were not disclosed. Physicians Interactive develops online clinical education programmes that enable life sciences companies to reach physicians. Perseus manages seven investment funds with capital commitments totalling approximately $2bn.
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