MBDA Awards Historic Grant to NAIC to Raise $1 Billion for Investment in Minority Entrepreneurs!

The Minority Business Development Agency (MBDA) of the U.S. Department of Commerce has awarded NAIC a $1.4 million grant to support a project that will facilitate the aggregation and deployment of approximately $1 billion in growth capital into minority-owned businesses. Through this landmark MBDA grant, NAIC will launch the Minority Growth Equity Funds Initiative, which aims to increase the amount of capital available for MWBEs poised for growth. As a key goal of the initiative, NAIC will quantify the demand for and current supply of capital focused on MWBEs, then leverage its extensive expertise and broad network to attract and invest growth capital in innovative businesses owned by women and ethnically diverse entrepreneurs.

Anatomy of a Successful Exit

In this installment of Perspectives, NAIC's online video series, Ted Yun, Managing Partner of NexPhase Capital, gives a behind-the-scenes look at his firm's acquisition and successful exit of Comprehensive Pharmacy Services, a provider of pharmacy solutions to more than 700 hospitals and health system facilities across the United States. The NexPhase team successfully identified an opportunity in the healthcare market, acquired the interest in CPS, added value by upgrading operations, sales and marketing, and identified market trends that signaled the right time to divest

Industry Game-Changers to Share What it Takes to Win at NAIC Private Equity and Hedge Fund Conference!

The NAIC 2019 Private Equity and Hedge Fund Conference is SOLD OUT! We are excited to see all of our registered attendees and sponsors at the UCLA Luskin Conference Center in just two short weeks.

Among the high-caliber panel discussions on the agenda is "Leading by Example: Standout Success," where outstanding industry leaders and game-changers will share how they are leading their firms, separating themselves from the competition, and structuring deals to deliver superior returns to their limited partners. Moderated by Nina Boone, Founder and CEO, Umbrelly Welly, confirmed panelists include:

The CAB License Offers Relaxed Regulatory Requirements for Limited Broker Dealers

In this installment of Compliance Corner, ICSGroup, an NAIC partner that specializes in compliance services, addresses some of the main questions regarding the Capital Acquisition Broker (CAB) License. CABs are firms that engage in a limited range of activities including advising companies and private equity funds on capital raising and corporate restructuring, and in certain circumstances acting as placement agents for sales of unregistered securities to institutional investors. ICSG details the issues the CAB license is supposed to address, some common questions regarding the license, and how to register as a Capital Acquisition Broker.

Meet Kristina Blaschek, One of this Year's NAIC Rising Stars

Kristina Blaschek is one of the Rising Star Award recipients who will be among the industry standouts honored during this years NAIC Annual Private Equity and Hedge Fund Conference Awards Luncheon. As Director of Business and Technology Solutions, William Blair Investment Management, she evaluates the way technology is evolving in society and identifies opportunities for the firm to develop, innovate, and embrace technology to make better investment decisions for its clients. In this profile, we take a look at this young business leader's perspective on diversity, leadership and following one's passions.

MEMBERS NEWS

NAIC Member William Heard Tells His Story in Forbes

NAIC member William Heard is the subject of a Forbes Magazine profile, "Inside The Steady Rise Of Hedge Fund Investor William Heard." In it, the founder, CEO and CIO of Heard Capital LLC shares his history, influences, investment style and how his hedge fund is delivering 8%-plus net annualized returns since inception -- more than tripling benchmarks in a brutal environment.

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Acquia Announces Majority Investment from Vista Equity Partners

Open digital experience company Acquia announced it has signed a definitive agreement to receive a majority investment from Vista Equity Partners. The partnership with Vista will provide operational expertise to help accelerate Acquias growth trajectory as the company continues to scale. The transaction is currently expected to close in the coming weeks and is subject to customary closing conditions and regulatory approvals. Acquias software and services were built to give enterprise companies the ability to build, operate, and optimize websites, apps, and other digital experiences.

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Clearlake Capital-Backed Unifrax to Acquire Dongxiang Glass Product Co. in China

Unifrax, a leading global provider of high-performance specialty materials used in thermal management, emission control, batteries, specialty filtration and fire protection applications, backed by Clearlake Capital Group, L.P., announced it has signed a definitive agreement to acquire the assets of Shenyang JiuQing Dongxiang Glass Product Co. Ltd (DX), a leading provider of high-performance specialty fibers in China, from the Li family. Financial terms of the transaction are not being disclosed. DX is a large-scale specialized company that produces glass products, such as standard components raw glass material and microfine glass fibers

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Development Partners International Invests in Leading Mobile Fintech Business

Development Partners International (DPI) announced an investment into Channel VAS, the leading fintech provider of mobile financial and airtime credit services operating in Africa, Asia and the Middle East. Channel VAS provides Mobile Financial Services, Big Data Analytics and Airtime Credit Services to mobile operators and financial institutions in more than 30 countries, enabling access to micro and nano loans including cash, handsets, airtime and data. For 2019, Channel VAS is on target to provide over $1.5 billion of credit to hundreds of millions of people globally through its partnerships with MNOs and financial institutions.

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NexPhase Capital Announces Investment in Popcornopolis

NexPhase Capital, LP, announced its investment in Popcornopolis, LLC, a leading manufacturer of premium-quality, ready-to-eat popcorn. Terms of the transaction were not disclosed. Founded in 2003, Popcornopolis manufactures and markets a diverse portfolio of flavors. The company has created an experiential and easily recognized brand through its iconic cone packaging and omni-channel distribution strategy, which consists of direct-to-consumer mediums and entertainment venues in addition to traditional club, convenience, food, drug and mass retailers.

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Harlem Capital Invests Salt Lake City HR Software Company

Harlem Capital announced its investment in ProSky, an HR software company that enables businesses to evaluate candidates and develop employees through succession pathways, so they can recruit, hire, and retain the best talent. Launched in 2015, Salt Lake City-based ProSky serves customers through their comprehensive platform that incorporates all parts of human capital management including performance management, evaluations, succession planning, applicant tracking systems, and manager-employee communication. ProSkys consolidated tools enables all HR professionals, from Chief Human People Officers to recruiters, to better serve talented employees and meet their organizations needs.

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