Australia
Australian compostable cling film business gets $17m Series A
Great Wrap, an Australia-based start-up that manufacturers compostable cling film from food waste, has raised AUD 24m (USD 17m) in Series A funding.
Australia's mx51 secures $22.5m Series B
Mx51, an Australia-based payments technology platform that emerged as a partnership with Westpac, has raised AUD 32.5m (USD 22.4m) in Series B funding.
Australia's Fortitude exits Shopper Media to Woolworths
Australian grocery giant Woolworths has agreed to buy Shopper Media Group, an out-of-home digital advertising business with 2,000 screens across more than 400 shopping centres, for approximately AUD 150m (USD 102m).
ANZ withdraws from MYOB acquisition talks
Australia and New Zealand Banking Group (ANZ) has ended its pursuit of KKR-owned Australian accounting software provider MYOB just days after confirming talks over a potential acquisition.
Australia customer reviews specialist gets $26m Series A
Okendo, an Australia-founded customer review platform for e-commerce brands, has received USD 26m in Series A funding led by US venture capital firm Base10 Partners.
Australia retail AI player raises $30m
Tiger Global Management has led a USD 30m Series B round for Australia’s Hivery, an artificial intelligence (AI) developer for the retail industry.
KKR explores sale of Australia's MYOB to ANZ
Australia and New Zealand Banking Group (ANZ) has confirmed it is in negotiations with KKR over the potential acquisition of Australia-based accounting software provider MYOB.
Brett Sutton to leave role as CVC's Australia chair
Brett Sutton, a former partner at Affinity Equity Partners who was recruited by CVC Capital Partners last August to oversee the reestablishment of its Australia presence, will leave the firm at the end of the year.
Quadrant exits Australia underwear brand to Swedish strategic
Quadrant Private Equity has exited Australian hygiene apparel brand Modibodi to Swedish strategic Essity for AUD 140m (USD 96m).
Accel-KKR targets Australia-listed SaaS player Damstra
Damstra Technology, a listed Australian software-as-a-service (SaaS) provider specialising in worker safety and risk management, has received an unsolicited buyout proposal from Accel-KKR.
Blackstone backs Australia, US clean commodities platform
The Blackstone Group has led a USD 400m investment in Xpansiv, an Australia and US-based marketplace for trading clean commodities such as carbon offsets, renewable energy credits (RECs), and low-carbon fuels.
Australian start-up wins backing for spider venom drug
Infensa Bioscience, a newly established Brisbane-based drug developer, has raised AUD 23m (USD 15.6m) in funding to support the licensing of a nascent treatment that uses spider venom to mitigate heart attacks and strokes.
Deal focus: CDH plays Asia wellness card
CDH Investments turned The Better Health Company from a New Zealand-only player into a brand with regional recognition. COVID-19 proved a minor obstacle to an ultimately successful trade sale
Australia tech: Valuation conundrum
Valuation adjustments and down rounds are expected to proliferate in Australia’s technology sector in the next 12 months. Investors are busy scrutinising business models for signs of vulnerability
Future Fund promotes private equity head to deputy CIO
Alicia Gregory, head of private equity at Australia’s Future Fund, has been promoted to deputy CIO with responsibility for private markets.
GPs must adapt to raise capital from HNWIs - AVCJ Forum
Australia’s high net worth individuals (HNWIs) are becoming a more important source of capital for mid-market private equity firms as superannuation funds face minimum cheque size constraints, but tapping this fundraising channel requires understanding...
Deal focus: Software Combined sees sense in aggregation
Backed by majority owner Navis Capital Partners, Australia-based Software Combined wants to reach up to USD 35m of EBITDA within three years through acquisitions of smaller B2B players
Fund focus: LPs endorse Potentia’s software thesis
Potentia Capital took just four months to close its second fund on USD 438m, emphasizing the growing appeal of B2B technology opportunities in Australia and New Zealand
Australia's Infomedia entertains three buyout offers
Australia-listed automotive software supplier Infomedia has received its third buyout offer in the past two months, with PE-backed counterpart Solera proposing to acquire the business at a valuation of AUD 638.8m (USD 445m).
Infrastructure funds move towards software - Infralogic Forum
Software providers are set to become targets for infrastructure investors, provided companies can demonstrate sufficient customer stickiness to underpin consistent revenue streams, the Australia Infralogic Investors Forum heard.
Australia’s Potentia closes Fund II on $438m
Australian technology-focused private equity firm Potentia Capital has achieved a first and final close of AUD 635m (USD 438m) on its second fund, hitting the hard cap and beating a target of AUD 500m.