Crescent Financial Partners takes a minority equity stake in Prominent Pictures

Crescent Financial Partners has signed an agreement to acquire a minority equity stake in Prominent Pictures for a minimum initial guaranteed commitment of $10 million to contribute towards a slate of feature films budgeting between $2M-$10M each.  

Aprox. Value:  $10,000,000
 
Acquirer:  Crescent Financial Partners
ACQ Web:  http://www.crescentfinancialpartners.com
Location:  USA, Los Angeles, CA
Region:  North America
Description:  Crescent Financial Partners, Inc., (CFP) is a Los Angeles-based private equity merchant banking firm, focused on early stage and middle market investment opportunities. CFP is a principal investor, providing project and growth funding, business development expertise, and strategic and financial guidance to a number of business sectors.
Category:  Private Equity
Contact:  Russell Armstrong, Managing Director 

Vendor:  Prominent Pictures, LLC  
Location:  USA, Los Angeles, CA
Region:  North America
Description:  Prominent Pictures, LLC, is an independent film production and integrated media company founded by Paull Cho and Heather Rae and represented by William Morris Endeavor Global (WME). WME also represents Cho while United Talent Agency (UTA) represents Rae.
Category: Film and TV
Contact 1:  Paull Cho, founder
Contact 2:  Heather Rae, founder 
 
Link: Press Release  
 
FDN Database Reference:  F231109-378
 
Contact us at pkelly@fusioncorp.co.uk or visit the Fusion Corporate Partners website

FUND RAISING ROUND-UP

 

 

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1.       BlogTalkRadio has raised $1.9 million

2.       Brightcove closes a $12 million Series D round

  • Details: Online-video management company Brightcove has closed a $12 million Series D round of financing. Proceeds from the financing will be used to expand the company’s cash balance sheet and increase investments in key growth initiatives, including expansion in Asia and Europe, the rollout of new product lines like Brightcove Express on a worldwide basis, R&D innovation, and possible M&A activity. The company has now raised almost $100 million.
  • Investors: Led by Accel Partners and General Catalyst. Other existing investors, including AOL, Hearst, AllianceBernstein, Maverick, and Brookside Capital, also participated in the Series D.
  • Contact: Jeremy Allaire
  • Location:  USA, Cambridge, MA
  • Category: Video
  • Link: Company Announcement

3.       Learnvest raises $4.5 million in Series A funding

  • Details: Learnvest, an operator of a personal finance website for women, has raised $4.5 million in Series A funding. Learnvest plans to use the funding to meet the strong demand for its current information and tools, expand on its offerings, and build on the company’s recent success.
  • Investors: Accel Partners led the round, and was joined by seed backers Richmond Management, Rose Tech Ventures and members of Circle Financial Group.
  • Contacts: Alexa von Tobel, CEO/Founder, John Gardner, COO
  • Location:  USA, New York, NY
  • Category: Finance
  • Link: Press Release

4.       NearVerse raises $1 million in seed funding

  • Details: Mobile networking company NearVerse has announced that they secured $1 million in seed funding in Q4 2009. NearVerse has been using the funding to further develop its software-based networking platform to accelerate mobile Internet beyond the capabilities of existing 3G or 4G carrier networks. NearVerse launched their first app, LoKast for iPhone and iPod touch, at SXSW. Joining the company’s board are Glen Meakem and Alan Veeck of Meakem Becker Venture Capital.
  • Investors:  Meakem Becker Venture Capital
  • Contact: Boris Bogatin, CEO
  • Location:  USA, Philadelphia, PA
  • Category: Mobile, Apps
  • Link: Press Release

5.       Payvment has raised $1.15 million

  • Details: According to an SEC filing, Payvment has raised $1.15 million of a $1.7 million equity fund raising round. Payvment is a solution provider for social network powered eCommerce, enabling users to build eCommerce websites and add shopping carts on Facebook.
  • Location:  USA, San Francisco
  • Category: Retail, technology
  • Link:  Regulatory Filing

6.       Reply! Inc has raised $1.08 million

  • Details: According to an SEC filing, Reply! Inc (Reply.com) has raised $1.08 million in options and debt financing. Reply.com simplifies online locally-targeted marketing for businesses of all sizes. In February Reply! Inc announced that it had filed a registration statement on Form S-1 with the Securities and Exchange Commission for a proposed initial public offering of its common stock.
  • Contacts: Payam Zamani, Founder, Chairman and CEO: Sean Fox, Chief Operating Officer: Sam Veazey, EVP, Chief Financial Officer
  • Location:  USA, San Ramon, CA
  • Category: Advertising
  • Link: Regulatory Filing

7.       Secret Builders raises $2.3 million

8.       Socialcast secures $8 million in Series B funding

 9.       Tiny Speck raises $5 million in Series A funding

  • Details: Massively multiplayer game company Tiny Speck has raised $5 million in Series A funding. Andrew Braccia of Accel Partners will join the board. The company has previously raised $1.5 million from Accel Partners and other angel investors. Tiny Speck has one game available so far – Glitch.
  • Investors: Accel Partners led the round and was joined by Andreessen Horowitz.
  • Contact: Stewart Butterfield, Founder
  • Location:  USA, San Francisco/Canada, Vancouver
  • Category: Online Games
  • Link: First reported by GigaOm 

Banijay Entertainment acquires reality TV hitmakers Bunim-Murray Productions

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website
 
 
ACQUISITION 
FDN Database Reference:  F231109-367
 
Banijay Entertainment of France has acquired US reality TV maker Bunim-Murray Productions.

Bunim-Murray’s founder Jonathan Murray will continue as chairman and lead creative development, while president Gil Goldschein will remain to tackle corporate initiatives. Banijay plan to help Bunim-Murray expand into the international marketplace.
 
Aprox. Value:  Undisclosed
 
Acquirer:  Banijay Entertainment
ACQ Web:  http://www.banijay.com
Location:  France, Paris
Region:  Europe
Description:  In less than 2 years Banijay has become a leading name in the global TV production industry. Founded by Stéphane Courbit with further backing from the De Agostini and D’Dgnelli families, Banijay has grown through acquisition.  
Category:  Media, TV Production
Contact 1:  Pascale Amiel
Contact 2:  Guillaume De Verges
Contact 3:  Francois De Brugada 
 
Vendor:  Bunim-Murray Productions
Vendor Web:  http://www.bunim-murray.com
Location:  USA, Van Noys, CA
Region:  North America
Description:  Reality television production company best known for the The Real World, The Bad Girls Club, and Road Rules.
Category: Media, TV Production
Contact 1:  Mary-Ellis Bunim, co-founder
Contact 2:  Jonathan Murray, co-founder 
 
Link: Hollywood Reporter

Related link: Banijay Entertainment has acquired TV production company Zig Zag January 21, 2010

Good news for UK “wealth creators and innovators”- entrepreneurs’ relief for Capital Gains Tax doubled

 

 

United Kingdom – Chancellor of the Exchequer’s Budget statement

Alasdair Darling, Chanceller of the Exchequer for the UK Governement has announced an extension of Entrepreneurs’ Relief from the first £1 million to the first £2 million of gains made over a lifetime.

Entrepreneurs’ Relief supports business owners and those investing in businesses with growth potential by providing an effective 10 per cent Capital Gains Tax rate on qualifying disposals.

This change will take effect from 6 April 2010.

The Chancellor also announced that the normal rate of capital gains tax (CGT) remains unchanged at 18 per cent.

Direct quote from the Budget statement

“I am also going to make it more attractive for wealth-creators and innovators to set-up their own businesses. To do this, I am doubling entrepreneurs’ relief for Capital Gains Tax. At the moment, the first million pounds of lifetime gains are taxed at a lower rate of 10 per cent, rather than the main rate of 18 per cent.

This threshold will now increase to £2m, enabling entrepreneurs to benefit more from their effort and investment.

And I can also confirm today that I am not increasing the main rate of Capital Gains Tax.”

Link: HM Treasury Budget website

Xinhua Sports & Entertainment Limited to acquire NuCom Online Corporation

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website

ACQUISITION 
FDN Database Reference:  F231109-259
 
Acquirer:  Xinhua Sports & Entertainment Limited
ACQ Web:  http://www.xsel.com/en/
Location:  China, Beijing
Region:  Asia
Description:  Sports and entertainment media company in China,
Category:  Media
Contact 1:  Ms. Fredy Bush, CEO
Contact 2:  Tina Ju, Managing Partner of KPCB China  
 
Vendor:  NuCom Online Corporation
Vendor Web:  http://www.nubb.com
Location:  China, Beijing
Region:  Asia
Description:  A leading sports media company. NuBB provides broadband sports content, including live and delayed NBA games and highlights, and has one of the largest online sports communities in China with over 8 million registered users, 1.5 million average daily click-thru of video highlights, and over 15 million monthly unique visitors.
Category: Media
Contact:  Mr. Allen Hsu will join XSEL as a new independent director of the board
 
Aprox. Value:  NuCom is valued at US$27.6 million. XSEL will issue approximately 8.5 million American depositary shares, (or “ADS”) valued at US$1.83 per ADS.  An additional 6.6 million ADS will be issued only if NuBB achieves certain revenue targets for 2010 and 2011.  Management believes NuBB may generate average annual net income of US$2.3 million for the period between 2010 to 2012.
 
Details:  Xinhua Sports & Entertainment Limited (NASDAQ:XSEL; “XSEL”) has entered into an agreement to acquire NuCom Online Corporation (“NuCom”). As a result of the transaction, shareholders of NuCom including KPCB China will become shareholders of XSEL.
 
Link: Press Release