Venture capital group ProVen Private Equity has merged with US investment banking firm GMA Capital t...
Venture capital group ProVen Private Equity has merged with US investment banking firm GMA Capital to form Beringea.
Beringea, which has nearly $275m in funds under management, is the formalisation of a business partnership between the two companies that has existed for a number of years.
Prior to the merger, GMA focused on venture capitalism and investment banking, specialising in mergers, acquisitions and corporate finance.
It also manages Investcare Partners, a fund that supplies equity to medium-sized businesses looking to benefit from changes in the healthcare industry. ProVen has made its name by investing in established small and medium-sized enterprises, with a bias towards emerging media, entertainment technologies and healthcare companies.
GMA Capital director Charles Rothstein said: 'Our clients, investors and portfolio companies will benefit from the experience and forward thinking of two companies, both of which are highly regarded.
'With our new profile we not only increase our funds under management and the size of our portfolio, it expands our base of institutional investors. The deal also adds considerable strength to our M&A and corporate finance capabilities.'
He said he believed both companies would benefit from greater depth in terms of personnel and skill sets.
£300bn of liabilities
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Transfer from occupational scheme
Appointed by FCA and PSR boards