Vizo raises $750,000

Vizo Inc. has raised about $750,000 in funding. Vizo develops and operates a mobile news app that delivers summaries of trending news stories to users. Greenberg Traurig LLP represented Vizo in the startup financing. PRESS RELEASE MCLEAN, VA. (PRWEB) SEPTEMBER 29, 2015 International law firm Greenberg Traurig, LLP represented client Vizo Inc. in its recent round of startup financing. Vizo Inc. develops and operates the “Vizo” mobile news application, delivering curated summaries of trending news stories to users, accessed through visual headlines, several times per day. The transaction provided Vizo with approximately $750,000 in funding, which it used to launch the Vizo application Sept. 28, 2015, on mobile devices. Greenberg Traurig’s Northern Virginia team, led by Corporate & Securities Practice Shareholder Scott Meza, along with Associate Ryan P. Kelley, advised Vizo on the structure and terms of the transaction and assisted in negotiations with investors, many of whom were returning to Vizo after making initial seed investments in 2014. Meza has more than 25 years of experience assisting businesses in complex transactions such as mergers, acquisitions, spin-offs of public and private companies, and sophisticated equity and debt financings and recapitalizations. Meza’s broad industry experience includes managing transactions for technology-based companies as well as companies operating in highly regulated environments like government contracting, telecommunications, and health care. His representative transactions include stock-for-stock combinations, cash-out mergers, tender and exchange offers, management buyouts, stock and asset purchases, distressed company acquisitions (e.g., bankruptcy auctions), corporate spin-offs and divestitures, and corporate governance matters. Kelley advises large and small companies on a broad range of legal needs arising from early inception to global operations. His practice focuses on both domestic and international corporate and securities matters, including financing, contracts, mergers and acquisitions, government contracting, anti-corruption and foreign investment. About Greenberg Traurig’s Emerging Technology Group Greenberg Traurig’s Emerging Technology Group is a multidisciplinary legal team focused on guiding emerging technology companies through all the stages of their development, from initial business formation through angel or venture capital financing to initial public offerings and mergers and acquisitions. Drawing on the firm’s broad platform, the group offers clients a streamlined approach to meeting their diverse legal needs – a single team that can scale up its services as clients’ businesses grow. The attorneys regularly advise clients on a host of pressing legal issues, from IP protection and software/IT matters through labor and employment, compensation, and tax issues. About Greenberg Traurig’s Corporate & Securities Practice Greenberg Traurig’s Corporate & Securities practice is comprised of more than 400 lawyers across more than 30 offices. The group provides advice and services to public and privately held companies and entrepreneurs throughout the Americas, Europe, the Middle East, Asia, and Africa. The team brings together the strategic business, legal, and market experience needed to manage and close the most complex transactions in addition to providing practical counsel on day-to-day operations. About Greenberg Traurig, LLP Greenberg Traurig, LLP is an international, multi-practice law firm with approximately 1800 attorneys serving clients from 37 offices in the United States, Latin America, Europe, Asia, and the Middle East. The firm is among the 2015 BTI Brand Elite and among the most “Tech Savvy.” It was on the 2013-2015 BTI Client Service 30 listings of firms “most recognized by clients for providing excellent client service,” and one of the 2014 BTI Client Relationship Scorecard “Power Elite,” based on the nature and strength of its client relationships. More information at: http://www.gtlaw.com.

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Vizo raises $750,000

Alibaba, Ant Financial invest in Paytm

Alibaba Group Holding Ltd. and Ant Financial Services Group have invested in Paytm. Financial terms weren’t announced. Paytm, of New Delhi NCR, is a mobile payment & commerce platform in India. Ant Financial previously invested in Paytm in February. Citi provided financial advice to Paytm. PRESS RELEASE September 29, 2015 02:00 AM Eastern Daylight Time HANGZHOU, China & NEW DELHI–(BUSINESS WIRE)–Alibaba Group Holding Limited (NYSE:BABA), Ant Financial Services Group and One97 Communications, the parent company of Paytm, India’s largest mobile payment & commerce platform, announced today an agreement under which Alibaba and Ant Financial have agreed to make a strategic investment in Paytm. Ant Financial made its initial investment in Paytm in February 2015 while Alibaba will become a new investor in Paytm after the completion of the transaction. The fresh capital infusion will allow Paytm to achieve scale and develop its vibrant mobile commerce and payment ecosystem in India and invest in marketing, technology and talent. Investing in Paytm will enhance the ability of Alibaba and Ant Financial to tap opportunities in India’s fast-growing mobile e-commerce marketplace and digital finance industry. Ant Financial has been developing synergies with Paytm since its initial investment in February of this year. Ant Financial’s further investment in Paytm with this transaction demonstrates the company’s confidence in India’s digital payment sector. Ant Financial and Paytm will continue to capitalize on opportunities in mobile wallet to offer Indian consumers comprehensive products and services and to tap the significant potential of the India mobile payment market. This transaction further demonstrates the commitment of Alibaba, the largest online and mobile commerce company in the world in terms of gross merchandise volume, to continue to internationalize its e-commerce business. Eric Jing, President of Ant Financial Services Group said, “Ant Financial has worked seamlessly with Paytm in the past few months and our technical teams have developed significant improvements on the user experience for Indian consumers. Ant Financial and Paytm will collaborate to capture mobile payment opportunities in India. We believe that Paytm, as a leader in this field, is best equipped to build a mobile payment ecosystem in the country.” Daniel Zhang, Chief Executive Officer of Alibaba Group said, “India is an important emerging market with strong e-commerce potential, and we look forward to partnering with Paytm to deliver innovative products and services to consumers. Supporting the success of local homegrown entrepreneurial companies has long been an important part of Alibaba Group’s globalization strategy. This investment will further expand Alibaba Group’s global footprint to India’s thriving mobile commerce market.” Vijay Shekhar Sharma, Founder and Chief Executive Officer of Paytm said, “Paytm is building India’s most dominant mobile payment and commerce ecosystem. With the Alibaba and Ant Financial partnerships, we look to bring half a billion Indians to the mainstream economy and help millions of small businesses leverage this large m-commerce opportunity. This investment by Alibaba and Ant Financial is a reaffirmation of their belief and commitment to the long term Paytm opportunity.” Citi acted as exclusive financial advisor to Paytm on this transaction. Paytm’s business has grown rapidly and robustly since Ant Financial initially invested in Paytm in February 2015. Ant Financial has also been offering strategic and technical support to the company. Paytm has recently crossed 100 million Paytm Wallet users who carry out over 75 million transactions every month. With this major achievement, Paytm has inched closer towards its larger vision of bringing half a billion Indians to the mainstream economy. About Alibaba Group Alibaba Group’s mission is to make it easy to do business anywhere. The company is the largest online and mobile commerce company in the world in terms of gross merchandise volume. Founded in 1999, the company provides the fundamental technology infrastructure and marketing reach to help businesses leverage the power of the Internet to establish an online presence and conduct commerce with hundreds of millions of consumers and other businesses. Alibaba Group’s major businesses include: • Taobao Marketplace (www.taobao.com), China’s largest online shopping destination • Tmall.com (www.tmall.com), China’s largest third-party platform for brands and retailers • Juhuasuan (www.juhuasuan.com), China’s most popular online group buying marketplace • Alitrip (www.alitrip.com), a leading online travel booking platform • AliExpress (www.aliexpress.com), a global online marketplace for consumers to buy directly from China • Alibaba.com (www.alibaba.com), China’s largest global online wholesale platform for small businesses • 1688.com (www.1688.com), a leading online wholesale marketplace in China • Aliyun (www.aliyun.com), a provider of cloud computing services to businesses and entrepreneurs About Ant Financial Services Group Ant Financial Services Group is focused on serving small and micro enterprises as well as consumers. With the vision “to turn trust into wealth,” Ant Financial is dedicated to building an open ecosystem of Internet thinking and technologies while working with other financial institutions to support the future financial needs of society. Businesses operated by Ant Financial Services Group include Alipay, Ant Fortune, Yu’e Bao, Zhao Cai Bao, Ant Micro Loan, Sesame Credit and MYbank. For more information on Ant Financial, please visit our website at www.antgroup.com; or follow us on Twitter @AntFinancial About Paytm Paytm is India’s largest mobile payment & commerce platform. With current user base of more than 100 million, Paytm is on mission to bring half a billion Indians to the mainstream economy using mobile payment, commerce and soon to be launched payment banking services. The consumer brand of India’s leading mobile internet company One97 Communications, Paytm is head-quartered in New Delhi NCR. The company’s investors include Ant Financial (Alipay), SAIF Partners, Sapphire Venture and Silicon Valley Bank.

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Alibaba, Ant Financial invest in Paytm

Private equity firm Advent looking for more Brazil education deals: Reuters

Private equity firm Advent International will continue working on the consolidation of Brazil’s education industry, a senior executive said on Thursday, adding that there are enough quality assets available to drive deals despite the economic cycle. “Consolidation makes sense for those who understand the market and identify where to extract synergies,” said Maia Alves, a director at Advent. The firm entered the sector in Brazil with a stake in Kroton Educacional, the world’s largest for-profit education company, which it sold in 2013. (Reporting by Guillermo Parra-Bernal; Editing by Chizu Nomiyama)

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Private equity firm Advent looking for more Brazil education deals: Reuters

Littlejohn’s Wellfleet Credit closes debut CLO on $360 mln

Wellfleet Credit Partners, the performing credit business of Littlejohn & Co., closed its debut collateralized loan obligation on $360 million. The CLO will be backed by a portfolio of broadly syndicated senior secured loans. Littlejohn funds and its partners are investors in the CLO, which has a two-year non-call and four-year investment period with a final maturity of 12 years. Littlejohn Debt Management formed Wellfleet earlier this year to invest in broadly syndicated loans and related fixed income investments. Press Release Wellfleet Credit Partners (“Wellfleet”) announced today the closing of a $360.0 million collateralized loan obligation (“CLO”), referred to as “Wellfleet CLO 2015-1.” Wellfleet CLO 2015-1 represents the debut CLO issuance for Wellfleet, the performing credit business of Littlejohn & Co., LLC (“Littlejohn”), a private investment firm. The CLO will be backed by a diversified portfolio of broadly syndicated senior secured loans. Eight classes of notes rated Aaa through B3 by Moody’s and three classes of notes rated AAA by Fitch totaling $331.0 million were placed. Littlejohn funds, as well as its partners, are investors in the CLO. The CLO vehicle will have a two-year non-call and a four-year reinvestment period with a final maturity of 12 years. “Despite a volatile market environment, we are delighted by the strong reception that the CLO received from prominent CLO investors,” said Brian Ramsay, President of Littlejohn. Earlier this year, Littlejohn Debt Management formed Wellfleet as a new, dedicated performing credit group to invest in broadly syndicated loans and related fixed income investments. The Wellfleet team includes a dedicated group of credit analysts and is led by Scott McKay and Dennis Talley. Richard Maybaum, a Littlejohn Partner, stated “Dennis and Scott have been a great addition to our debt platform as Littlejohn is already seeing the benefits of extending its reach into performing credit. We are excited about having a performing credit investment product to offer investors.” Morgan Stanley & Co. LLC acted as the arranger for the CLO. Dechert LLP acted as legal advisor. The securities offered in the CLO have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or pursuant to an exemption from the registration under the Securities Act and applicable state securities laws. This release does not constitute an offer to sell or a solicitation of an offer to buy any such securities. About Littlejohn & Co., LLC Littlejohn & Co. is a Greenwich, Connecticut- based private equity firm investing in middle-market companies that are undergoing a fundamental change in capital structure, strategy, operations or growth that can benefit from its operational and strategic approach. The firm is currently investing from Littlejohn Fund V, L.P., which has $2 billion in capital commitments. For more information, visit www.littlejohnllc.com.

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Littlejohn’s Wellfleet Credit closes debut CLO on $360 mln

Lariat Partners recaps LaMi

Lariat Partners has recapitalized Huntingdon Valley, Pennsylvania-based LaMi Holdings LLC, a provider of non-edible, general merchandise impulse items to groceries and other retail channels. No financial terms were disclosed. PRESS RELEASE DENVER (Sept. 24, 2015) – Lariat Partners, a Denver-based private equity firm, has announced the recapitalization of LaMi Holdings, LLC, (LaMi), the leading distributor and merchandiser of non-edible, general merchandise impulse items to grocery and other retail channels. Lariat is providing the necessary growth capital to help LaMi complete its new state-of-the-art automated warehouse, improve sourcing, fund expansion-related expenditures and pursue growth opportunities. Headquartered in Huntingdon Valley, Pa., LaMi services blue chip grocery and other retail customers throughout the United States. The company’s co-Chief Executive Officers are Larry Dion and Michael Dion. “Our new state-of-the-art warehouse and robotic pick-n-pack system will enable us to continue our growth while providing just-in-time inventory to customers” said Larry Dion. “The partnership with Lariat and the recapitalization effort will play a key role in helping us replicate this automated warehouse operation on the west coast in the near future.” LaMi’s impulse items typically retail for less than $9.99 and are cross merchandised throughout a grocery or retail store. By positioning ice cream scoops adjacent to freezers, or pet toys adjacent to pet food for example, LaMi’s vast product offering enhances sales and margin for retailers while adding convenience for consumers. With more than 800 field merchandisers, broad product offering, product design and sourcing expertise, customer service focus and strong management team, LaMi is well-positioned to further expand its retail service solutions throughout North America. “Our Partnership with Lariat allows LaMi to fuel efficiency in filling customer needs,” said Michael Dion. “The entire process from product sourcing, order fulfillment, and store level merchandising will be enhanced with the ultimate goal of benefiting our customers.” Jay Coughlon, Managing Partner for Lariat Partners, said, “LaMi provides an incredible value proposition to its customers that we believe is only going to improve as the grocery industry seeks new sources of revenue. Larry, Michael and the LaMi team have proven their ability to execute throughout their long entrepreneurial history, and we are excited to help them continue achieving their vision.” About Lariat Partners Denver-based Lariat Partners is a private equity firm focused on redefining the private equity experience with entrepreneurs in the lower-middle market. With its People First, Strategy Second relationship philosophy and its CORE Investment Strategy targeting COnsolidations, COnsumables and REcurring REvenue businesses, Lariat offers a differentiated approach to partnering with entrepreneurs and growing their middle market businesses. The firm targets companies across a number of industries, including Specialty Agriculture, Energy & Environmental Services, Consumer Products and Maritime Services. For more information, visit www.lariatpartners.net.

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Lariat Partners recaps LaMi