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0 Direct Capital on the hunt after raising $375m

Private equity investor Direct Capital is on the hunt for acquisitions after raising $375 million for its latest fund.

Despite private equity typically being associated with high-net worth investors, every New Zealander will have a stake in the buying decisions founder Ross George and his team make.

This capital, like much of the $1.2 billion the company has raised since it started in 1994, has come from New Zealand’s biggest institutional investors, George said.

“So it’s the ACC, it’s the NZ Superannuation fund, big pension funds like Annuitas and other long-term investors like community trusts, utility trusts, iwi groups and religious groups,” he said.

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0 A leading VC partner explains what’s missing from Australia’s tech startup scene

It’s been just over 100 days since I relocated back to Australia to join the incredible gang at Airtree Ventures.

I had previously worked with the London-based Summly until our acquisition by Yahoo (California based), and then as a venture investor at White Star Capital (New York and London based). As a result of these experiences, I was privileged to have an insider view on the growth of the London and New York tech communities.

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0 Heineken-owned DB buys Tuatara for undisclosed sum

Heineken-owned DB Breweries, which owns bars and liquor brands including Tui, Monteiths and Redwood Cider, has bought Kapiti boutique brewer Tuatara Brewing Co for an undisclosed sum.

The local unit of the Dutch beer giant will keep the founding Vasta family involved in the brewing and logistics of Tuatara, and continue to produce beer from the craft brewer’s Kapiti and Wellington sites, it said in a statement.

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0 Phitek sold to NYSE-listed Amphenol in $60M deal

Phitek Systems, which supplies noise cancellation and audio enhancement equipment, has been sold to New York-listed Amphenol Corp for $60 million before adjustments.

Connecticut-based Amphenol announced the deal in a statement to the New York Stock Exchange when reporting its fourth-quarter earnings, saying the Phitek purchase was part of a broader acquisition programme, without disclosing a price. However, local filings to the Companies Office show Amphenol agreed to pay $60 million plus net cash, minus the New Zealand company’s indebtedness, the levels of which have not been disclosed.

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0 Dutch company swoops on local tea and coffee group

Well known Kiwi brands Bell Tea and Hummingbird Coffee will soon grace the tables of overseas consumers as the company prepares for a new export future under a foreign owner.
Netherlands company Jacobs Douwe Egberts(JDE) paid more than $100 million for BrewGroup, which also owns Jed’s Coffee, Gravity Coffee and Tiora Tea, as well as Bell, and Christchurch-based Hummingbird.

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