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IDC Network and Arena Investors Announce the Launch of “IDC Arena Credit Ventures” a US$200 Million Strategic Partnership to Bolster Tech Innovation
Strategic Partnership Will Help Founders Access Venture Debt and Flexible Capital Solutions Through Private Credit, Also Setting the Stage for Potential Future IDC/Arena Investment Offerings
MIAMI, June 5, 2024 /PRNewswire/ — IDC Network, a diversified private equity and venture capital asset manager and parent company of IDC Ventures, a global venture capital firm specializing in fintech and marketplaces, today announced the launch of its newly created credit and flexible capital arm, IDC Arena Credit Ventures, through the formation of a strategic partnership with Arena Investors, LP. Arena Investors is a global institutional investment manager with a robust track record of providing creative capital solutions to underserved borrowers globally. This partnership is set to create a powerhouse for financing innovative technology ventures for companies at critical growth stages.
The strategic partnership combines IDC’s expertise in deal structuring and early to growth-stage technology investments with Arena’s robust capabilities in financing solutions. Together, IDC Network and Arena Investors are well-positioned to provide tech entrepreneurs with unique financing alternatives. Melissa Ramirez, Managing Partner of IDC Network, will lead IDC’s Venture Debt arm and the strategic partnership. She will also serve as a liaison between Arena, IDC Ventures, and other initiatives across IDC Network.
“Partnering with Arena Investors is another significant step towards consolidating our Venture Capital platform globally. I’m excited to double down on our strategic goal to support the next generation of tech leaders with alternative, smart, and flexible capital tailored to their specific needs,” commented Melissa Ramirez, Managing Partner at IDC Network and IDC Arena Credit Ventures. “This partnership will enable us to capitalize on the significant demand for non-dilutive capital we are seeing in the market, particularly from high-quality, disciplined tech companies. By combining Arena’s exceptional debt financing capabilities and our deep tech industry insights and ecosystem access we aim to fuel the growth of pioneering technology firms in a highly underserved market.”
Arena Investors brings to the partnership a wealth of experience and a strong investment history, having deployed over $5 billion in capital across various asset types in special situations investments. CEO and CIO Dan Zwirn began investing in venture capital over 25 years ago and was involved in the creation of several noteworthy platforms in the space including Horizon Technology (NASDAQ:) Finance and Hercules Capital (NYSE:). “We are thrilled to join forces with IDC, a long standing, well-regarded asset manager and major player in the venture capital space,” said Joe Salameh, Managing Director of Corporate Private Investments at Arena Investors. “This collaboration is poised to fill a large void in venture debt capital. We are excited to provide solutions and flexibility that start-ups need to thrive in today’s environment.”
The strategic partnership aims to address the growing demand for non-dilutive funding options in the tech sector, providing bespoke financial solutions that are tailored to the specific needs of tech and tech-enabled businesses. By combining resources, expertise, and networks, IDC and Arena Investors will enhance their ability to support high-potential companies and drive innovation in the technology landscape.
About IDC Network
Established in 1995, IDC Network (IDC) is a diversified multi-fund platform. IDC focuses on partnering with strategic investors, managing and co-managing funds across multiple sectors including Private Equity, Energy & Infrastructure, Ventures, Capital Markets, Real Estate, and Impact. Active across Latin America, the US, and Europe, IDC is proud to be the Partner of Choice for more than 150 of the world’s most influential families from 26 countries. Learn more at IDCNetwork.com.
About IDC Ventures
IDC Ventures (IDCV) is the venture capital arm of IDC Network, a global multi-fund asset manager. More than just a fund, IDC Ventures acts as the Partner of Choice to more than 150 family offices for a diversified set of venture capital-related opportunities, managing proprietary funds, co-investment opportunities, and co-managed funds in partnership with top-tier managers who bring specialized industry expertise. IDCV is an active partner with entrepreneurs, helping founders from earlier stages through exit. IDCV mostly leads rounds and takes board of director seats offering a wide range of expertise based on successful founder, banking, and consulting experiences. Since its founding in 2019, IDCV has backed industry-defining founders from Series A to growth stages across Europe, the US, and Latin America (mainly Brazil and Mexico), primarily focusing on fintech and marketplaces through its flagship funds. Learn more by visiting IDCVentures.com.
About Arena Investors, LP
Arena Investors, LP is an institutional asset manager founded in partnership with The Westaim Corporation (TSXV: WED). With approximately $3.5 billion of assets under management (as of May 1, 2024) and a team of over 180 employees in offices globally, Arena provides creative solutions for those seeking capital in special situations. The firm brings individuals with decades of experience, a track record of comfort with complexity, the ability to deliver within time constraints, and the flexibility to engage in transactions that cannot be addressed by banks and other conventional financial institutions. See www.arenaco.com for more information.
Contact:
IDC:Benito Besada
Benito.Besada@idcventures.com
Prosek Partners:Joshua Clarkson
pro-arena@prosek.com
Arena Investors:Parag Shah
ir@arenaco.com
(Reuters) -Private equity firm Insight Partners is on the brink of closing a new $10 billion-plus fund, roughly half the amount originally targeted, the Financial Times reported on Sunday, citing five people with knowledge of its plans.
Insight will not formally close its 13th fund until early next year, the report said, adding that the final figure may be closer to $12 billion.
Insight Partners declined to comment on the report.
The report said Insight is using a private equity-style structure to sell more than $1 billion worth of stakes in start-ups and to free up cash to return to investors.
One of the start-ups is Israeli cybersecurity firm Wiz, which had called off a $23 billion deal with Google parent Alphabet (NASDAQ:) in July, the report said.
New York-based Insight raised $20 billion for its 12th flagship fund in 2022, aiming to ramp up investments in software and technology companies.
JERUSALEM (Reuters) -Prime Minister Benjamin Netanyahu said Israel would inflict a “heavy price” on the Iran-aligned Houthis who control northern Yemen, after they reached central Israel with a missile on Sunday for the first time.
Houthi military spokesman Yahya Sarea said the group struck with a new hypersonic ballistic missile that travelled 2,040 km (1270 miles) in just 11 1/2 minutes.
After initially saying the missile had fallen in an open area, Israel’s military later said it had probably fragmented in the air, and that pieces of interceptors had landed in fields and near a railway station. Nobody was reported hurt.
Air raid sirens had sounded in Tel Aviv and across central Israel moments before the impact at around 6:35 a.m. local time (0335 GMT), sending residents running for shelter. Loud booms were heard.
Reuters saw smoke billowing in an open field in central Israel.
At a weekly cabinet meeting, Netanyahu said the Houthis should have known that Israel would exact a “heavy price” for attacks on Israel.
“Whoever needs a reminder of that is invited to visit the Hodeida port,” Netanyahu said, referring to an Israeli retaliatory air strike against Yemen in July for a Houthi drone that hit Tel Aviv.
The Houthis have fired missiles and drones at Israel repeatedly in what they say is solidarity with the Palestinians, since the Gaza war began with a Hamas attack on Israel in October.
The drone that hit Tel Aviv for the first time in July killed a man and wounded four people. Israeli air strikes in response on Houthi military targets near the port of Hodeidah killed six and wounded 80.
Previously, Houthi missiles have not penetrated deep into Israeli air space, with the only one reported to have hit Israeli territory falling in an open area near the Red Sea port of Eilat in March.
Israel should expect more strikes in the future “as we approach the first anniversary of the Oct. 7 operation, including responding to its aggression on the city of Hodeidah,” Sarea said.
The deputy head of the Houthi’s media office, Nasruddin Amer, said in a post on X on Sunday that the missile had reached Israel after “20 missiles failed to intercept” it, describing it as the “beginning”.
The Israeli military also said that 40 projectiles were fired towards Israel from Lebanon on Sunday and were either intercepted or landed in open areas.
“No injuries were reported,” the military said.
PARIS (Reuters) – Eight people have died trying to cross the Channel from France to England, French authorities said on Sunday, confirming earlier media reports.
This latest incident follows the deaths of 12 people earlier this month when their boat capsized in the Channel on its way to Britain and highlights the pressure on the British and French governments to find ways to tackle the boat crossings.
Jacques Billant, the Prefect of the Pas-de-Calais region, said that rescue crews were alerted that a boat with 59 people onboard was in difficulty in waters off the coast of Ambleteuse in the Pas-de-Calais area.
“A new drama took place around one in the morning and we deplore the death of eight people,” he told a news conference, adding that the other 51 onboard were now in the care of rescue and medical crews.
The dead were men from Eritrea, Sudan, Syria, Egypt, Iran and Afghanistan, he added.
The Channel is one of the world’s busiest shipping lanes and currents are strong, which makes crossing on small boats dangerous.
The latest incident brings to 46 the number of people who have died trying to cross the Channel from France since the start of the year, Billant said.
On September 14 alone there were eight attempts to cross the Channel from France and some 200 migrants were rescued, he said.
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