Maven Raises £7 million for BPRA Qualifying Hotel Development in Glasgow

Maven Capital Partners, one of the UK's leading Private Equity and Alternative Asset Managers, is pleased to announce that it has successfully secured £7 million of funding for a hotel development utilising the benefits of Business Premises Renovation Allowance (BPRA).

The deal will see the purchase of Telfer House, an empty office building in Glasgow's fashionable Merchant City, for refurbishment into a 96-bedroom ibis Styles hotel, which will be managed by the UK's largest specialist hotel management company, RedefineBDL.

Mercia Fund Management boosts portfolio with Canary investment

Innovative care solution completes investment agreement for over £200,000

Mercia Fund Management (MFM), a leading provider of investment, incubator space and business support services for fast-growing technology companies, has announced Canary Systems Ltd as the latest addition to its technology portfolio.

Canary Systems offers a unique solution for elderly people looking to remain independent for longer in their own homes. The system uses mobile and wireless technology to monitor daily activities and track movement, heat and light within an elderly person's home. Text and email alerts are then sent to friends and family members to provide reassurance without impacting on the elderly person's dignity or privacy.

Designer flash sale site SecretSales.com closes new VC deal

A £4.5 million venture capital funding round has been closed by SecretSales.com, as the business looks to ramp up customer acquisition.

Partech Ventures' has closed a deal through its new Partech VI fund alongside French investor 123Venture and Doughty Hanson.

As a flash sales e-commerce site aimed at fashion, accessories and footwear, SecretSales.com now has 3.2 million users and 650 brands listed.

Growth for the business during 2013 meant a rise of 70 per cent in net sales, and the new funding will be used to integrate new customer acquisition and retention methods as well as building out its infrastructure and technology platform.

As well as achieving net sales growth during 2013, SecretSales.com was also named as one of the Future Fifty high-growth technology companies which are being given tailored support in line with targeting a public market listing.

Magenta Partners sells its stake in iPrism to Bowmark Capital

Second exit for Magenta in twelve months -

Funds advised by Magenta Partners (Magenta), the entrepreneurial growth investor, has announced that it has sold its stake in iprism Underwriting Agency Limited (iprism), to Bowmark Capital.

iprism is an insurance intermediary that sells policies to brokers and direct customers on behalf of groups such as AXA, Aviva and LV.  Its online platform generates quotes and policy documentation in real time, maximising the speed and efficiency of price testing and purchase. Magenta acquired a minority stake in iprism in November 2010.