Deals Wrap: Top deals of the week (18 – 22 May, 2020)

Deals Wrap: Top deals of the week (18 – 22 May, 2020)

by CGIA Institute

This week has seen some exhilarating developments in the financial industry. With companies from diverse industries such as hospitality, information technology and logistics raising money to expand operations from private equity firms around the world. This article summaries some of the most exciting deals that happened during the week.

Boston-based private equity firm – Charlesbank Capital Partners invested in Cyberbit Ltd., a leading global provider of cyber range training and simulation platforms. The investment which Charlesbank Capital Partners made from its Charlesbank Technology Opportunities Fund invested $70 million in Cyberbit.

Cyberbit seeks to use the funding to accelerate the development of its cyber range product and to grow global sales and marketing to meet the increasing demand for its product. With this funding, Cyberbit hopes its cybersecurity teams will benefit from hyper-realistic training through Cyberbit Range, ensuring their organizations are fully prepared for cyberattacks and addressing the global cybersecurity skill shortage.

Singapore-based data science and health technology company Holmusk also raised $21.5 million in a Series A funding on Monday. The round of funding was headed US private equity firm Health Catalyst Capital and Optum Ventures, the venture arm of US tech-enabled health services firm Optum. Existing investor Heritas Capital Management, which had formerly led Holmusk in a pre-Series A round funding in 2018 to raise $9.75 million also participated. The startup which has offices in Singapore, New York, London and Shanghai said It plans to hire about 30 to 40 additional staff across its four major markets, focusing on building its data science and technology teams, neuroscience-focused science teams, as well as its business development teams.

Similarly, Indonesia’s logistics company, Shipper, also raised $20 million in Series A funding which was led by Naspers. The funding round also saw AC Ventures, Insignia Ventures Partners, and Lightspeed Venture Partners, confirmed a by a report from DailySocial.

In the North of Africa, Egypt-based social commerce platform – Brimore raised $3.5 million in a pre-series A round spearheaded by Algebra Ventures.  Also featuring in the funding round is Disruptech, Vision Ventures, and some already existing investors in the names of 500 Startups and Flat6Labs who have previously invested $800,000 in seed funding participation.

Sony has also taken advantage of the coronavirus depressed market to launch a $3.7bn offer to buy out shareholders in its financial services arm. The financial services arm of the Japanese Multinational conglomerate generates the largest percentage of the company’s income. Sony owns 65 per cent of Sony Financial and said it would pay ¥2,600 ($24) a share for the rest of the company, a premium of 26 per cent to Monday’s close.

Source: FI Sense

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