Thermo Fisher Scientific, an American provisioner of scientific instrumentation, reagents and consumables, completed the acquisition of PPD, a global provider of clinical research services, from Hellman & Friedman for $20.9bn.
"Pharma and Biotech is our largest and fastest growing end market, and our customers value us as a strategic partner and an industry leader. The acquisition of PPD is a natural extension for Thermo Fisher and will enable us to provide these customers with important clinical research services and partner with them in new and exciting ways as they move a scientific idea to an approved medicine quickly, reliably and cost effectively," Marc N. Casper, Thermo Fisher Scientific Chairman, President and CEO.
PPD was advised by JP Morgan and Simpson Thacher & Bartlett. JP Morgan was advised by Debevoise & Plimpton. Thermo Fisher was advised by Barclays, Morgan Stanley, Arnold & Porter Kaye Scholer, Cravath Swaine & Moore and Joele Frank. Financial advisors were advised by Ropes & Gray.
Blackford-backed Aqua-Leisure Recreation, an operator of a water sport leisure product development and aquatic goods company, completed the acquisition of Airhead Sports, a designer and supplier of outdoor products for recreational water sports and winter sports markets. Financial terms were not disclosed.
"The Airhead family of brands is a natural fit for the Aqua Leisure portfolio. Our combined product offerings will be able to satisfy greater consumer demand for a wider range of outdoor recreational activities. We are big believers in empowering consumers to experience all the fun that can be had outdoors, and we're excited to move forward under my direction with this next phase of growth and innovation with the Airhead team," Steve Berenson, Aqua-Leisure CEO.
Blackford was advised by Grant Thornton and Varnum. Debt financing was provided by Capital Dynamics, Key Bank and Muzinich & Co. Aqua-Leisure was advised by Lambert & Co. Airhead was advised by Houlihan Lokey and White & Case.
Solmax, a geosynthetics manufacturer with plants in North America, Europe, Asia, and the Middle East, completed the acquisition of Propex, a geosynthetics manufacturer. Financial terms were not disclosed.
"This strategic acquisition enables Solmax to expand its sophisticated geosynthetics product portfolio for the benefit of engineers, distributors, contractors, operators, and others working in the environmental containment and civil infrastructure sectors. As a global leader in the industry, Solmax is accelerating the promotion and awareness of highly technical and specialized geosynthetic solutions, reducing the carbon footprint of conventional building solutions, and mitigating the environmental impact of human activities," Jean-Louis Vangeluwe, Solmax President.
Propex was advised by Solomon Partners and Stroock & Stroock & Lavan. Solmax was advised by Barclays, TD Securities, Jones Day and K&L Gates. Debt financing was provided by Barclays and TD Securities.
Vertex Aerospace, an aerospace defense company, completed the acquisition of the defense training and mission critical solutions business from Raytheon Technologies, an aerospace and defense conglomerate. Financial terms were not disclosed.
"I look forward to welcoming over two thousand talented, dedicated and highly skilled employees to our team. I am certain that our combined competencies will create the most capable and accomplished team in the industry. This important acquisition significantly enhances our capabilities for new and existing customers and accelerates our strategy to deliver a more comprehensive suite of solutions to our customers globally," Ed Boyington, Vertex President and CEO.
Vertex was advised by Morgan Stanley, RBC Capital Markets, Baker Botts, Jones Day and Ropes & Gray. Raytheon Technologies was advised by Evercore and Wachtell Lipton Rosen & Katz.
KKR-backed Independence Energy, a diversified, well-capitalized upstream oil and gas business, completed the merger with Contango Oil & Gas Company, an oil and natural gas company, in a $5.7bn deal. Independence shareholders own c. 76% and Contango shareholders own c. 24% of the combined company.
“This is a very compelling merger for Contango shareholders providing substantial value accretion, significant scale and lower cost of capital. KKR’s desire to position the combined company to be their long-term primary platform to focus on continued consolidation in the industry is a testament to what the team has created at Contango. As the largest shareholder of Contango and Chairman of the new combined company, I look forward to working with David Rockecharlie and the KKR team in continuing our strategy of consolidation and industry leading performance,” John Goff, Contango Chairman and Shareholder.
Independence Energy was advised by Wells Fargo Securities and Vinson & Elkins. Wells Fargo was advised by Alston & Bird. Contango was advised by Jefferies & Company, Gibson Dunn & Crutcher and Joele Frank.
Securitas, a security services, monitoring, consulting and investigation group, agreed to acquire the security business from Stanley Black & Decker, a manufacturer of hand and power tools, for $3.2bn.
"The sale of Security is consistent with our commitment to generating substantial shareholder value and allows us to sharpen our strategic focus on growing our core businesses while also returning capital to investors through a significant share buyback. This transaction is a result of our active approach to portfolio management, and the attractive valuation we received reflects the investments we made in transforming our Security business over the last several years," James M. Loree, Stanley Black & Decker CEO.
Securitas is advised by Morgan Stanley, SEB Corporate Finance, K&L Gates and Mannheimer Swartling. Debt financing is provided by SEB Corporate Finance. Stanley Black & Decker is advised by Citigroup.
Polen Capital, a global asset manager, agreed to acquire DDJ Capital Management, a privately-held investment manager for institutional clients. Financial terms were not disclosed.
"We are committed to our long-term strategy focusing on organic growth and our objective of adding value for our clients, colleagues, and community. The acquisition of DDJ follows a thoughtful and deliberate process to evaluate distinctive high value-added capabilities that will meet client demand for income. Polen and DDJ are extremely complementary, share core investment beliefs, and have compatible cultures that will contribute to a stronger, more durable, and more sustainable firm," Stan Moss, Polen Capital CEO.
Polen Capital is advised by Colchester Partners, KarVen, Greenberg Traurig and JConnelly. DDJ is advised by Berkshire Global Advisors and Goodwin Procter.
Transom Capital, a middle market private equity firm, completed the acquisition of the US legal education business from Wolters Kluwer, a global information services company. The business has been renamed to Aspen Publishing. Financial terms were not disclosed.
“Aspen Publishing is a long-standing trusted brand providing best-in-class content in the legal education market. We have been extremely impressed with the team at Aspen and the strong relationships they maintain with authors and law schools throughout the country. We look forward to putting Transom’s financial and operating resources to work in partnership with the team to grow and continue its innovation and market leadership in the legal education market," James Oh, Transom Managing Partner.
Transom Capital was advised by Kirkland & Ellis and 35th Avenue Partners. Debt financing was provided by Varagon Capital Partners. Varagon Capital Partners was advised by Perkins Coie. Wolters Kluwer was advised by Houlihan Lokey.
Aerami Therapeutics, a developer of therapies intended for the treatment of severe respiratory and chronic diseases, agreed to go public via a SPAC merger with FoxWayne Enterprises Acquisition in a $250m deal. The closing of the transaction is anticipated to occur in the first quarter of 2022.
"We see immense opportunities in Aerami's approach to delivering inhaled therapies for targeted indications that present large unmet medical needs, including pulmonary arterial hypertension, a debilitating disease for which there currently are no available disease modifying therapies," Robb Knie, FoxWayne CEO.
Aerami is advised by SternAegis Ventures, Smith Anderson and Core IR. FoxWayne is advised by Sheppard Mullin Richter & Hampton.
US Bancorp Asset Management, a registered investment adviser and subsidiary of US Bank, completed the acquisition of PFM Asset Management from PFM. Financial terms were not disclosed.
“We’re thrilled to welcome PFM Asset Management to US Bank. Long known for its presence in the public sector, PFM Asset Management offers its clients a variety of product offerings, including local government investment pools, outsourced chief investment officer services and separately managed accounts in both fixed income and multi-asset class strategies, complementing our current book of business. This acquisition bolsters US Bank’s institutional asset management presence nationally, and we look forward to growing US Bank’s thriving investment solutions business with our new partners," Eric Thole, US Bancorp Asset Management Head.
PFM Asset Management was advised by McCarter & English. US Bank was advised by Jones Day. PFM was advised by Piper Sandler and Dechert.
Blackstone-backed HealthEdge Software, a software company, completed the acquisition of Wellframe, a digital health management company. Financial terms were not disclosed.
“Wellframe’s consumer-facing mobile application will extend our industry-leading clinical care management platform to close the last mile between the health plan and the consumer. I’m energized by our common mission to drive a digital revolution in healthcare through transaction automation and enablement of real-time business and clinical engagement among payers, providers and consumers," Steve Krupa, HealthEdge CEO.
Wellframe was advised by Centerview Partners and Goodwin Procter. HealthEdge was advised by TripleTree and Debevoise & Plimpton.
Wind Point Partners, a private equity firm, completed the acquisition of good2grow, a beverages company, from Kainos Capital, a private equity firm. Financial terms were not disclosed.
"good2grow is a great example of the transformational growth that Kainos seeks in each investment. Early on, we identified better-for-you and convenience as attractive investment themes in our sector, and we were drawn to good2grow's unique product offering that provides entertaining beverages that meet kids' nutritional needs. In just three years, despite the Covid-19 pandemic environment, the good2grow management team executed brilliantly on our Change Capital plan to nearly double revenue through expanded distribution, increased sales velocity and new product development," Andrew Rosen, Kainos Managing Partner.
good2grow was advised by Credit Suisse, Robert W Baird and Weil Gotshal and Manges. Kainos Capital was advised by Gasthalter & Co.
Lamar Advertising, an operator of outdoor advertising and logo sign displays, completed the acquisition of Colossal Media, an operator of hand-painted walls and murals. Financial terms were not disclosed.
"Colossal has set the standard for colorful, creative artwork that brightens city landscapes, creates buzz and produces results for the world’s best-known brands. Kelly and her outstanding team are well-positioned for further growth, and we at Lamar look forward to partnering with them to lift Colossal to new heights of success," Sean Reilly, Lamar CEO.
Colossal Media was advised by Johnsen Fretty and McGrath North Mullin & Kratz. Lamar Advertising was advised by Kean Miller.
Verra Mobility, a provider of smart mobility technology solutions, completed the acquisition of T2 Systems, a firm that develops parking management software, from Thoma Bravo for $356m.
"Parking management is a cornerstone of smarter, more efficient roadways to support rapidly growing cities. This acquisition expands our portfolio of urban mobility solutions. We are thrilled to welcome the talented T2 Systems team to Verra Mobility, and we look forward to continuing to deliver the customer service excellence that has defined the T2 brand for years," David Roberts, Verra Mobility President and CEO.
T2 Systems was advised by Shea & Co.
Sixth Street, an investment firm, and Goldman Sachs Asset Management, an investment manager, led a $110m Series D round in Heap, a digital insights platform. Additional investors included NewView Capital, Menlo Ventures, DTCP, Triangle Peak Partners, Alliance Bernstein Private, Maverick Ventures, and The Private Shares Fund.
“Heap’s data-driven culture, strong technology leadership, and scalable architecture has made it a leader within the fast-growing digital insights sector. Their strategy for continuing to create innovative technology will put more advanced and easy-to-use digital insights into the hands of daily practitioners so they can quickly improve their products and accelerate their business. We look forward to supporting Ken and his team in their next phase of growth," Michael McGinn, Sixth Street Partner and Co-Head.
Heap was advised by SourceCode Communications.
City of Hope, a National Cancer Institute-designated comprehensive cancer center, agreed to acquire Cancer Treatment Centers of America, a national, for-profit network of five comprehensive cancer care and research centers. Financial terms were not disclosed.
“This is a defining moment in the fight against cancer and a powerful opportunity to reach more cancer patients with the leading treatments, care and advanced research they critically need. CTCA has a strong commitment to patient-centric cancer care, and combining its network and services with City of Hope’s scientific expertise, clinical trials and patient care strengths will significantly increase the number of people who can access the latest lifesaving treatments," Robert Stone, City of Hope President and CEO.
City of Hope is advised by JP Morgan.
Tilray, a cannabis lifestyle and consumer packaged goods company, agreed to acquire Breckenridge Distillery, a distilled spirits platform. Financial terms are not disclosed.
"Tilray’s strength lies in our ability to identify and significantly expand leading CPG lifestyle brands that resonate powerfully with consumers. Breckenridge Distillery is an iconic addition to our platform in this respect based on its portfolio of award-winning spirits, passionate consumer engagement, and a strong sales and distribution network. We see tremendous potential for Breckenridge and our existing SweetWater brand to complement each other, expanding their respective reach and driving further profitable growth in our beverage alcohol segment," Irwin Simon, Tilray Chairman and CEO.
Tilray is advised by ICR.
Altamont Capital-backed Specialized Packaging, a vertically integrated provider of protective packaging products, completed the acquisition of Packaging Concepts & Designs, a provider of engineered packaging products and solutions, and Packaging Specialists, a firm engaged in the custom and semi-custom engineered protective packaging. Financial terms were not disclosed.
“The addition of PC&D to our Engineered Packaging division means we will be adding world-class engineering capabilities to an operation that is already an industry leader. PC&D has been the go-to packaging design firm for the automotive industry for over 40 years. With this announcement, we are excited to strengthen our presence in automotive, especially the growing electric vehicle market, which will allow us to better serve our customers," Bob Lally, SPG CEO.
Altamont Capital was advised by Morrison & Foerster.
CMA CGM Group-backed CEVA Logistics, a third-party logistics company, agreed to acquire a majority stake of commerce & lifecycle services activities from Ingram Micro, a distributor of information technology products and services, and Platinum Equity, a private equity investment firm, at a $3bn valuation.
“The acquisition of Ingram Micro CLS is strategic for the CMA CGM Group. After completing its turnaround this year, our subsidiary CEVA Logistics will accelerate its development and join the world's Top 4 in contract logistics. Its position will be significantly strengthened in the US and European markets, enhancing its ability to seize the opportunities offered by the boom of eCommerce. Committed to providing leading end-to-end supply chain solutions, the CMA CGM Group will continue its development, relying on two solid pillars, shipping and logistics, with a world leadership position in both sectors," Rodolphe Saade, CMA CGM Group Chairman and CEO.
Grove Collaborative, a sustainable consumer products company, agreed to go public via a SPAC merger with Virgin Group Acquisition II in a $1.5bn deal. The investors include Lone Pine Capital, Sculptor Capital Management, General Atlantic and Paul Polman.
“In going public, we sought a partner that shares our passion for using business to answer the urgent environmental crisis, and that accelerates our vision to make consumer products a positive force in human and environmental health,” Stuart Landesberg, Grove Co-Founder and CEO.
SoftBank Vision Fund 2, a venture capital fund, Bessemer Venture Partners, a venture capital firm, and Schneider Electric, a company providing energy and automation digital solutions, led a $400m Series E round in Claroty, a cybersecurity company. Additional investors included ISTARI, Team8, and Standard Investments.
"As digital transformation initiatives drive the essential physical systems that we rely on for even the most basic human needs, securing these systems is ultimately about mitigating risks to human life. Claroty's technology addresses a high-stakes problem in enabling safe digital transformation, and we are eager to partner with the team in its journey to protect the critical infrastructure that is the foundation of the AI revolution," Yossi Cohen, SoftBank Investment Representative.
SA Recycling, a scrap metal recycling services provider, completed the acquisition of PSC Metals, scrap processor, from Icahn Enterprises, a diversified holding company, for $290m.
"Icahn Enterprises acquired its interest in PSC Metals in 2007. Even under challenging circumstances created by volatile commodity markets over the past several years, we executed our activist playbook with this investment – significantly increasing EBITDA. Given the cyclical nature of the company's industry, we believe today's transaction is appropriately timed and provides a very positive outcome for IEP unitholders," Carl Icahn, Icahn Enterprises Chairman.
Santander raises stake in its Mexican unit to 96.2% for about $385m.
Santander, a Spanish multinational financial services company, increased its stake in its unit Santander Mexico to 96.2% from 91.6% for $385m after expiration of the tender offer acceptance period.
Santander will pay $246m and $139m, for Santander Mexico and American Depositary Shares accordingly.
Better.com’s SPAC merger will be delayed.
SoftBank Group-backed Better, a mortgage and real estate startup, is pushing back its public listing through a merger with Aurora Acquisition, a special purpose acquisition company, after amending the deal a day before it terminated 9% of its workforce, Bloomberg reported.
The company will seek new regulatory approval after revising the terms of the merger with Aurora Acquisition. That will push back the closing of the transaction.
Robinhood files to terminate share sale from backers. (FS)
Robinhood Markets, an American financial services company, seeks a termination of the resale of its common shares by certain investors including affiliates of venture capital firms Andreessen Horowitz and Ribbit, Reuters reported.
The company has been under a contractual obligation to let early shareholders exit some of their stake but was now seeking a termination as the obligation had expired, said Robinhood.
ST Energy Transition I announces closing of $250m IPO.
ST Energy Transition I, a special purpose acquisition company, announced today the pricing of 25m Stakeholder Aligned Initial Listing, or SAILSM, security, at a price of $10 per SAILSM security.
The SAILSM securities were listed on the New York Stock Exchange and began trading under the ticker symbol "STET.U" on December 3, 2021.
ST Energy Transition was advised by Morgan Stanley and DNB.
Crypto 1 Acquisition announces pricing of $200m IPO.
Crypto 1 Acquisition, a special purpose acquisition company, priced its IPO of 20m units at $10 each. The units are expected to be listed on the Nasdaq and trade under the ticker symbol "DAOOU" beginning on December 7, 2021.
Each unit consists of one Class A ordinary share and three-quarters of one full redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.5 per share.
Crypto 1 is advised by B. Riley Securities.
EMEA
Triton, an investment firm, agreed to acquire Clinigen, a global pharmaceutical and health-services company, for $1.6bn. StepStone is participating in the acquisition as a passive co-investor
"The Clinigen Board believes this offer represents an exceptional opportunity for Clinigen shareholders to realise value for their investment in cash at a very attractive valuation. We are therefore unanimously recommending it to our shareholders," Elmar Schnee, Clinigen Chairman.
Triton is advised by Barclays, HSBC, JP Morgan, White & Case and Greenbrook. Clinigen is advised by Numis Securities, RBC Capital Markets, Ashurst and Consilium Strategic Communications. StepStone is advised by Alston & Bird.
Optimum Asset Management, a boutique real estate investor and developer, and Blackstone agreed to form an €800m ($903m) joint venture to invest in a 30-asset real estate portfolio in Germany.
“We have seen attractive returns from this high-quality portfolio since its creation, which is testament to the strength of the German real estate market and the expertise of our team. We are delighted to be working with Blackstone and firmly believe in the continued prospects of this portfolio, which was built using our granular approach. We place particular emphasis on sourcing the right assets and managing them correctly. The commitment from Blackstone is an endorsement of the German real estate market, this portfolio and Optimum," Alberto Matta, Optimum Founder and Managing Partner.
Optimum is advised by Evercore. Blackstone is advised by Allen & Overy.
fuboTV, a sports-first live TV streaming platform, completed the acquisition of Molotov, a live TV streaming company, for $190m.
“With today’s closing, fuboTV has acquired a very talented team and an innovative tech stack that can help accelerate our development in the US with a judicious deployment of minimal incremental investment dollars. At the same time, this combination will provide technology to grow Molotov’s business model. Over the long term, we believe the synergies of the combined company will give us operating leverage to build a scalable global platform as we continue on our mission to deliver the world’s leading interactive sports and entertainment live TV experience," David Gandler, fuboTV Co-Founder and CEO.
Molotov was advised by Rothschild & Co. fuboTV was advised by Blueshirt Group.
Sampo, a Finnish financial company, agreed to acquire the remaining 30% stake in Hastings, a provider of insurance services, from Rand Merchant Investment, a listed financial services investment company, for $908m.
"As the sole owner of Hastings, Sampo will gain full control of strategy, governance and capital management, enabling more agile decision making and frictionless knowledge sharing with If P&C. I look forward to working even closer with Hastings to execute on its strategic initiatives and capitalising on its strong position in the digital UK P&C insurance market," Torbjörn Magnusson, Sampo CEO and President.
Sampo is advised by Goldman Sachs.
Sval Energi, an oil and gas company, and Equinor, an energy company, agreed to acquire the Norwegian oil and gas exploration and production business from Spirit Energy and Centrica, an integrated energy company, for $1.08bn.
"With the disposal of these largely oil producing assets to buyers who will be able to meet the material decommissioning costs, we can now focus on realising value for our shareholders from Spirit’s remaining gas reserves. This sale is another important milestone in the turnaround of Centrica and follows our significant organisational restructure last year and the sale of Direct Energy earlier in 2021," Chris O'Shea, Centrica CEO.
Prodapt, a consulting, technology and managed services provider, completed the acquisition of SLR Dynamics, a digital engineering and automation services provider. Financial terms were not disclosed.
“I am excited to welcome Salim and the SLR Dynamics team to the Prodapt family. The capabilities of SLR Dynamics in Cloud, Security, IoT and Product design will play an important role as Prodapt continues to become the preferred digital transformation partner to the enablers of hyper-connectivity,” Vedant Jhaver, Prodapt Chairman and CEO.
Veritas weighs sale of Cotiviti. (FS)
Veritas Capital, a private equity firm, is exploring a sale of Cotiviti, a solutions and analytics company. The company could secure a valuation of over $15bn.
The firm had been considering an IPO of Cotiviti, but now weighs a sale due to a bout of volatility in the stock market.
Nestle sale of L'Oreal shares pleases investors on both sides.
Shares in Nestle, a Swiss food group, and L'Oreal, a French personal care company, rose on December 8, 2021. This comes after Nestle trimmed its stake in L'Oreal.
Nestle has been a major shareholder in the owner of brands like Lancome since 1974, when L'Oreal heiress Liliane Bettencourt entrusted nearly half her stake to Nestle. Nestle sold its stake to over 20% from 23% by selling shares worth about $10bn.
APAC
MedcoEnergi, an investment holding company, agreed to acquire Indonesia assets from ConocoPhillips, a provider of oil exploration and production services, for $1.36bn.
The company sells a 54% interest in the Indonesia Corridor Block Production Sharing Contract and a 35% shareholding interest in Transasia Pipeline Company.
“Today’s announcement reflects our ongoing commitment to further strengthen our company across every aspect of our global portfolio,” “The Asia Pacific region plays an important role in our diversification advantage as an independent E&P and these two transactions enhance that advantage by lowering our aggregate decline rate and diversifying our product mix,” Ryan Lance, ConocoPhillips Chairman and CEO.
Nickel Mines, a firm that engages in the acquisition, exploration and development of nickel projects, agreed to acquire a 70% stake in Oracle Nickel, a project in Indonesia, from Shanghai Decent Investment, a firm engaged in the development and investment of raw materials, for $525m.
“This transaction not only further cements our strategic partnership with Tsingshan but importantly continues to position Nickel Mines as a globally significant nickel producer. With our commitment to the Oracle nickel project coming rapidly on the heels of the fast-tracked commissioning of our 80%-owned Angel nickel project, Nickel Mines is set to more than triple the size of its attributable nickel production and operational cash flows over the next 15 months,” Justin Werner, Nickel Mines MD.
Hillhouse is said to invest $630m in Giant Biogene. (FS)
Hillhouse Capital Group, a China's private equity firm, is said to lead a funding round in Xian Giant Biogene Technology, a medicinal skin care treatments maker, in a $630m deal, DealStreetAsia reported.
The share sale will combine new and existing shares, valuing the company at $3bn. Total investment size may be changed.
Generali eyes a bigger stake in India businesses as Future Group seeks exit.
Generali, a global insurance and asset management provider, is in talks to raise its stake in two Indian insurance businesses. The decision comes after Future Group, an insurance company and its local partner, looks to exit the arrangement.
Generali aims to increase its stake to 74% in both the life and non-life insurance entities in India from 49%. Future and another Indian entity together own a 51% stake in the life insurance joint venture with Generali, while Future holds all of the remaining stake in the non-life insurance venture.
LG Energy seeks up to $10.8bn in IPO.
LG Energy Solution, an electric vehicle battery partner, plans to raise $10.8bn. This would be South Korea's biggest-ever IPO.
The offering could give LG Energy a market value of $59bn. Fellow battery makers Samsung SDI and SK Innovation are valued at about $41bn and $19bn.
Top Glove shareholders approve $473m Hong Kong listing plan.
Top Glove, a Malaysian glove maker, won shareholders' approval for its plan to list in Hong Kong.
An extraordinary general meeting of shareholders approved resolutions backing the company's dual primary listing on the Stock Exchange of Hong Kong. The proposed listing is expected to be completed by the first quarter of 2022.
Some hedge funds may have lost millions on bets on Didi Global.
Several hedge funds may have been bruised by bets on Didi Global, a China-based company principally engaged in the operation of mobility technology platform, Reuters repoted.
Didi's shares have dropped 56.8%. Didi's shares fall 7.9% between the end of September, 2021, and December 7, 2021.
Hashed Ventures launches $200m new fund to back blockchain projects. (FS)
Hashed Ventures, a South Korea-based crypto assets fund and accelerator, has raised $200m for its Fund II. Fund is aimed to aid the global blockchain ecosystem, DealStreetAsia reported
Development comes after Hashed Venture Fund I was launched and saw $120m in funds committed. The firm has backed over 40 founders across the globe and is expanding its footprint in Singapore and India markets.
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