NeurAxon, Inc., a Toronto, ON, Canada-based pharmaceutical company, has closed the sale of approximately $8.75m of unsecured subordinated 2.0% convertible debentures that are convertible under specified circumstances into existing class B preferred shares. The financing included CTI Life Sciences Fund and existing investors Delphi Ventures, OrbiMed Advisors, LLC, Ventures West Capital, Ltd, H.I.G. Ventures, BDC...
Read More →Dresser Mouldings Ltd, a Bolton, UK-based manufacturer of bespoke timber and wood mouldings, including fine wood carvings, timber columns and handrails, has received a £230,000 Grant for Business Investment (GBI) from the Northwest Regional Development Agency (NWDA). Dressers Mouldings will use the grant to acquire the productive assets and workforce of the Rochdale-based Timbmet, a...
Read More →Singapore’s Government is encouraging more businesses to create pro-family products and services, through the increase of funding and eligibility criteria for the Businesses for Families Grant. The scheme aims to award all businesses and organisations whose services or products are relevant to families. To qualify for funding, a business needs to be registered or incorporated...
Read More →MedaPhor Limited, a Cardiff, Wales, UK-based e-learning company that produces innovative training products for postgraduate medical professionals, has raised £190,000. The funds include £75,000 each from Fusion IP (AIM: FIP), the university commercialisation company which aims to turn university research into business, and Finance Wales. MedaPhor is developing a “virtual reality” ultrasound training device, called...
Read More →The equity investors of Key Air, a Oxford, CT-based national provider of Fixed Base Operations, aircraft management and worldwide executive charter services, has recently acquired all of company’s debt in a recapitalization transaction. The transaction, led by Rizvi Traverse Management, will enable the company to restructure its balance sheet and will provide additional working capital...
Read More →Carbon Reduction Technology (CRT), a Sowerby Bridge, UK-based start up, has received a £300,000 funding package from angel investors Ewin Woodward Development (EWD). The company has developed the ‘e-lamp’, an innovative LED street lighting system that uses up to 75% less electricity than traditional sodium street lights. The investment will support expansion of CRT’s current...
Read More →As anticipated by FinSMEs on September, 28, 2009, Alibaba.com (HKSE:1688.HK) (HK.1688), a global leader in business-to-business (B2B) e-commerce, has completed a share purchase agreement of Cayman-based China Civilink, an eCommerce company that provides domain name registration operating in China as HiChina Web Solutions. The agreement was the first of a two phase deal with Alibaba.com...
Read More →On 21st December, Ibersuizas Capital Funds acquired a majority stake in Madrid-based Mediterránea de Catering, S.L., a catering contractor in the hospital sector. The founder and chairman of the company, Mariano Muñoz, who will continue leading the management of the company, will keep a substantial stake, with a small local coinvestor also participating. Financing has...
Read More →The Accra, Ghana based-Venture Capital Trust Fund has signed a $10m shareholding agreement with four other private sector companies to establish the Ebankese Venture Fund, which will provide funding and technical support for the Real Estate sector in the country. Partners of Ebankese Venture Fund include Venture Capital Trust Fund, HFC Bank Ghana Limited, Ghana...
Read More →The Massachusetts Institute of Technology (MIT) has launched a new fund to provide seed funding for MIT faculty projects in India. The India Innovation Fund will cover travel, meeting and workshop costs incurred in India, including travel to India. The average award will be $30,000, but requests of up to $100,000 will be considered. The...
Read More →The European Bank for Reconstruction and Development (EBRD) is extending a Georgian Lari (GEL) loan equivalent to $1m to local JSC Crystal MicroFinance Organisation. The credit line is aimed to increase the availability of financing to micro and small enterprises (MSEs) and support JSC Crystal, a non-bank microfinance institution, in its drive to expand operations,...
Read More →The European Bank for Reconstruction and Development (EBRD) is increasing the availability of financing for Albanian small and medium-sized enterprises (SMEs) with a €2m medium-term credit line to Union Bank. The proceeds will be used to provide working capital and capital investment financing for SMEs across the country and thus implement the bank’s strategy to...
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