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Fuse Venture Partners Launches Fund to Back Innovative Founders in the…

The Seattle business community rallies behind Fuse Venture Partners to support the next generation of B2B technology leaders.

(PRWeb July 28, 2020)

Read the full story at https://www.prweb.com/releases/fuse_venture_partners_launches_fund_to_back_innovative_founders_in_the_pacific_northwest/prweb17285847.htm

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“Fuse is thrilled to provide this next generation of innovative Seattle companies with an equally innovative venture platform to grow with and support them for decades to come.” – Kellan Carter, General Partner, Fuse Venture Partners.

Fuse Venture Partners, founded by General Partners Kellan Carter and Cameron Borumand, launched today to invest in Seattle-based, Seed and Series A companies that are reinventing the modern economy with software.

Joining Fuse’s founding team is Venture Partner and Seattle Seahawks captain Bobby Wagner, as well as Senior Operating Partners John Connors and Satbir Khanuja. Nader Naini, Managing Partner at Frazier Healthcare Partners, and Gary Rieschel, Founding Managing Partner at Qiming Venture Partners, will be senior advisors to the fund.

“Home to two of the most impactful technology companies in the world, Microsoft and Amazon, Seattle sits at the epicenter of the innovation driving enterprises’ digital transformation efforts,” said Kellan Carter. “There’s a booming, untapped and thriving ecosystem of emerging entrepreneurs in the region. Fuse is thrilled to provide this next generation of innovative Seattle companies with an equally innovative venture platform to grow with and support them for decades to come.”

Kellan and Cameron both hail from Ignition Partners, a 20-year-old, early-stage enterprise software-focused venture capital firm. Ignition has been an early and significant backer of some of the largest outcomes in enterprise software including Docusign, Splunk, Cloudera, Heroku, Zenprise, Parse, Xamarin and Xensource. As the youngest partner at the firm, Kellan was responsible for backing several return-driving deals for its most recent fund, including Icertis, the leading enterprise contract management platform and Seattle unicorn. Cameron was promoted to Principal at Ignition after only two years, and as a University of Washington alum and the son of immigrant parents who built a life in Seattle from the ground up, his Pacific Northwest roots run deep.

Fuse’s partners include many current and former executives at the PNW’s top companies, including Microsoft, Amazon, Nike, Starbucks, Costco, T-Mobile, Avalara, Evergreen Gavekal, DocuSign and Smartsheet. “Our goal was to bring on partners who are committed to investing not just their capital but also their time and experience in helping our portfolio companies grow,” said Cameron Borumand. “It has been humbling and exciting to see the Seattle business community step up to support Fuse and this region in such a meaningful way.”

A dedicated team with unrivaled connections

Having been captain of the Seattle Seahawks for many years, Bobby Wagner is renowned both on and off the field for his tenacity and business acumen. His personal deal experience spans famously negotiating his own contract last year – making him one of the highest paid defensive players in the league – as well as investing in several early-stage companies. During the last three off-seasons, he worked closely with Kellan, Cameron, John and Satbir at Ignition.

“I have enjoyed these past three years getting to work with this high-energy team. Their hustle is unmatched, and their focus is always on the entrepreneur,” said Bobby Wagner. “We each bring a wide range of experience and vast networks of diverse, local connections that uniquely position us as the best partner for companies reimagining and reinventing how work is done – and we can’t wait to get started.”

As Operating Partners, John Connors and Satbir Khanuja will provide unique support to Fuse portfolio companies through their wide networks and business growth expertise. John brings a storied 30-year career in enterprise software, having served in roles such as Partner at Ignition, CFO, CIO and head of the Worldwide Enterprise Division at Microsoft and on the boards of Nike and Splunk. Satbir likewise spent seven years on the Amazon leadership team under Founder and CEO Jeff Bezos, and nine years as CEO of Ignition portfolio company, Datasphere Technologies.

“Having worked with the Fuse team while at Ignition, this is the beginning of something special for the Seattle software community,” said John Connors.

About Fuse Venture Partners

Fuse Venture Partners is an early-stage, venture capital fund investing in Seattle-based Seed and Series A companies that are reinventing the modern economy with software. Fuse Venture Partners is committed to supporting the next generation of B2B technology entrepreneurs building category-defining businesses of lasting value. Founding partners Kellan Carter and Cameron Borumand are joined by Venture Partner and Seattle Seahawks captain Bobby Wagner, as well as Senior Operating Partners John Connors and Satbir Khanuja. The strategic LP base includes current and former executives at the Pacific Northwest’s top companies, including Microsoft, Amazon, Nike, Starbucks, Costco, T-Mobile, Avalara, DocuSign, Smartsheet and many more. For more information about Fuse Venture Partners, please visit fusevp.com.

Media Contact

Katy Hoeper

katy.hoeper@walkersands.com

C: 317-726-7858

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Source: https://www.prweb.com/releases/fuse_venture_partners_launches_fund_to_back_innovative_founders_in_the_pacific_northwest/prweb17285847.htm

Private Equity

Lorax Capital Partners pulls in $142m for its sophomore fund

Lorax Capital Partners has pulled in $142m for its sophomore fund and has named Apex Group to supply administration and corporate services.

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Lorax Capital Partners has pulled in $142m for its sophomore fund and has named Apex Group to supply administration and corporate services.

The fund, LCP II, has a target size of $250m and will focus on midcap companies in Egypt that are focusing on local consumption and production as well as financial inclusion.

Lorax will also back companies that are looking to expand regionally.

The investor aims to implement high-quality governance and environmental and social practices within portfolio companies and help them increase their value creation.

There have been five LPs to commit to Lorax’s new fund, so far.

Lorax Capital Partners director of operations Adnan Razzak said, ”We appointed Apex due to their strong reputation and ability to provide the all-inclusive fund administration, accounting and investor reporting services required across multiple jurisdictions.

“We have been particularly impressed with their ability to guide us through regulatory challenges and our decision to domicile the fund in the Netherlands. Our management team has an unmatched track record in sourcing, executing and managing transactions in Egypt and Apex’s support will enable us to focus on these core competencies.”

Founded in 2015, Lorax is an Egypt-focused private equity firm and over the past five years it has deployed around $175m into five companies.

Last year, Lorax aided Helios Investment Partners and Enterprise Fund with their purchase of a 96.6 per cent stake in agricultural seeds provider Misr Hytech Seed International.

Copyright © 2020 FinTech Global

Source: https://www.altassets.net/private-equity-news/by-news-type/fund-news/lorax-capital-partners-pulls-in-142m-for-its-sophomore-fund.html

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Private Equity

Lobby group for Black women urges firms to ‘go beyond solidarity statements’

The 300-strong group calls asset managers to build an anti-racist portfolio, divesting from companies that benefit from business models that perpetuate racial inequities

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Industry group Black Women in Asset Management has published an open letter calling on institutions to promote racial equity through their portfolios — and take action if companies they invest in do not.

The letter comes as the City took a hard look at racial diversity within its ranks over the summer this year.

“As Black women professionals in the asset management industry, we call on investment firms and institutional investors in our industry to go beyond solidarity statements and instead commit to action, activism, and accountability to dismantle the racial inequities plaguing society,” the letter, released on 26 October, reads.

The death of George Floyd at the hands of three police officers in the US on 25 May and the disproportionate impact the Covid-19 pandemic is having on people from Black, Asian and Minority ethnic backgrounds triggered Black Lives Matter protests around the world, including in London and elsewhere across the UK.

In response, financial services firms and their executives made statements saying the sector could do better and promised to fight for a better society, although activists have said that actions speak louder than words.

BWAM, the industry organisation that counts 300 members, was founded in May 2019 by Jacqueline Taiwo, principal at TowerBrook Capital Partners, and Mariam Akanbi, senior legal counsel at ARCH Emerging Markets Partners.

“Dismantling systemic racism creates a more sustainable and equitable society. However, investment firms have been slow to see racism as a serious investment risk,” said Taiwo in a statement, explaining why the group decided to pen the letter.

The open letter makes five recommendations for investment firms and institutional investors. These include calling on firms to build an anti-racist portfolio, which would entail setting metrics to examine a company’s demonstrable commitment to racial diversity.

Following the research, the group subsequently urged asset managers to divest from companies that benefit from business models that perpetuate racial inequities or target vulnerable communities, citing examples like prison labour and immigration detention.

BWAM also highlights the necessity for communication of expectations to portfolio boards on considering racial implications on strategic decisions, pointing out that this is already the case on issues such as climate change.

Other recommendations include committing resources to encourage young Black women to work in finance as well as advocating for policy change both externally and internally.

“I believe BWAM’s recommendations provide a meaningful framework to bring about long overdue change in our industry,” said Adebanke Adeyemo, general counsel of Vantage Infrastructure and a member of BWAM’s impact committee, said in a statement.

“I am publicly endorsing this letter because I know that many of my peers may not feel empowered to do so. I have been there in my career and I understand it.”

To contact the author of this story with feedback or news, email Bérengère Sim

Source: https://www.penews.com/articles/lobby-group-for-black-women-urges-firms-to-go-beyond-solidarity-statements-20201026

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Private Equity

Dunkin’ reportedly in talks with PE-backed group to go private

The deal worth $8.8bn with Inspire Brands, owned by private equity firm Roark Capital, would delist the coffee and doughnuts chain

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Owner of Arby’s, Buffalo Wild Wings could buy company in deal worth $8.8bn

Dunkin’ Brands Group is reportedly in talks to go private in a sale to private equity-backed Inspire Brands.

The New York Times reported Sunday, 25 October, that Dunkin’, the parent company of the former Dunkin’ Donuts and Baskin-Robbins ice cream, could sell itself for $106.50 a share, a 20% premium over Friday’s closing price, for an implied market value of about $8.8bn. The Times said a deal could be announced as soon as today, 26 October.

Inspire Brands, which is backed by Roark Capital, owns a number of restaurant chains, including Arby’s, Buffalo Wild Wings, Sonic and Jimmy John’s.

In a statement to the Times, Dunkin’ confirmed that there have been preliminary talks over an acquisition, but a deal is not certain and neither side will comment further unless the transaction is finalized.

Dunkin’ Brands has more than 13,000 franchised Dunkin’ locations and about 8,000 Baskin-Robbins locations.

Write to Mike Murphy at AskNewswires@dowjones.com

From Dow Jones Newswires

Source: https://www.penews.com/articles/dunkin-reportedly-in-talks-with-pe-backed-group-to-go-private-20201026

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