| Cyber security, climate initiatives and delivery set to grow in 2021, as coronavirus recovery timeline remains uncertain
With new strains of Covid-19 emerging around the world, the timeline of a potential economic recovery in 2021 and beyond is still navigating uncertain parameters.
Joe Biden unveiled a USD1.9 trillion stimulus package for the US economy; a relief plan which includes issuing USD1,400 payments to many Americans.
According to new research released this week by Plexal and Beauhurst, funding secured by cybersecurity start-ups since the start of the UK lockdown in March increased by more than half compared to the same period in 2019.
Meanwhile, Weezy, a UK-based on-demand supermarket that delivers groceries in 15 minutes on average, raised USD20 million in Series A funding to expand its grocery delivery service across London and the UK.
The investment round was led by New York-based VC Left Lane Capital, with participation from UK-based DN Capital, as well as existing investors Heartcore Capital and angel investors including Chris Muhr, founder of Groupon.
Due to the pandemic the popularity of online grocery delivery has exploded since early 2020; half a million new consumers were added to the sector in Q2 2020 alone. The UK grocery delivery sector today has an estimated worth of GBP14.3 billion.
“Even before the pandemic, interest in online grocery shopping was on the rise. The first time I ordered from Weezy, my delivery arrived in seven minutes and I was hooked," Nenad Marovac, founder and managing partner at DN Capital, commented on the deal.
OnePlanetCapital launched a specialist sustainability EIS Fund to invest in sectors including green tech, tech, fintech and broader B2C businesses.
The initiative comes as Prince Charles is asking companies to join the ‘Terra Carta’, or Earth charter, which was being set out at a virtual address to the One Planet Summit on Monday.
Sandberg Capital closed its second private equity fund – Sandberg Investment Fund II – at EUR109 million. Sandberg welcomed the European Investment Fund and Tatra banka among its investors, for the first time.
In other news this week, tech focused Silver Lake raised nearly USD20 billion for its buyout fund Silver Lake Partners VI, while KKR’s first Asia-Pacific infrastructure fund raised USD3.9 billion.
Silver Lake, which backs Manchester City, is also in talks to acquire a stake in the All Blacks, according to reports, and Arctos Sports Partners is looking for approval to acquire minority stakes in NBA teams.
Partners Group picked up Careismatic Brands for circa USD1.3 billion, while Apollo is intending to launch a SPAC in order to raise up to USD400 million in an IPO.
In Private Equity Wire's Industry Spotlight Profile this week, James Williams spoke with Dana Haimoff, managing director and portfolio manager of the Private Equity Group, at JP Morgan Asset Management
“At an early age, Dana Haimoff was fuelled by ambition, which would go on to serve her well in her career as one of London’s leading female private equity executives. Her desire was simple: to move away from the school her parents sent her to, and enrol in Punahou,” Williams begins this in-depth profile. Read it to find out more about Haimoff’s life and what drives her to succeed.
Karin Wasteson
Editor, Private Equity Wire
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