J.F. Lehman & Company has held a final closing of its fifth fund with $1.35 billion of capital. Initially targeting $1.0 billion, JFL Equity Investors V LP, was oversubscribed and closed at its hard cap.
Limited partners in the new fund include both new and existing investors such as public and private pensions, insurance companies, financial institutions, endowments, foundations, family offices and high-net-worth individuals from across the US and Europe.
“We greatly appreciate the strong support for both our organization and established investment strategy,” said Louis Mintz, a partner at J.F. Lehman. “We are thankful that market participants recognized and valued the experience and cohesiveness of our team, the strength of our reputation and performance built over three decades of exclusive sector focus and our demonstrated investment discipline.”
J.F. Lehman is a middle-market private equity firm focused primarily on the aerospace, defense, maritime, government and environmental industries. Companies of interest have EBITDA of $10 million to $50 million and are headquartered in North America or the United Kingdom.
Last March, J.F. Lehman acquired Global Marine Group, a provider of marine engineering services including subsea cable maintenance and installation. The company owns and operates a fleet of specialized marine equipment, including three cable installation and repair vessels, four cable maintenance vessels, and 19 crew transfer vessels.
J.F. Lehman is headquartered in New York with an additional office in Washington DC. The firm was founded in 1992 by Dr. John Lehman, who served six years as Secretary of the United States Navy.
Private Equity Professional | July 24, 2020
Cryptocurrency Cards: An Unnecessary Solution That Should Be Stopped
It is high time for traditional financial institutions to see that the crypto industry has matured enough and does not possess high risks.
This Week in Fintech ending 7th August 2020
This weekly summary from our 8 experts, brings you insights based on their experience as investors, entrepreneurs & executives.
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The initial Ethereum team consisted of Vitalik Buterin, Anthony Di Iorio, Bitcoin Magazine co-founder Mihai Alisie, Amir Chetrit and Charles Hoskinson. The team printed black Ethereum t-shirts and started working on the Ethereum Blockchain in 2013. Later, they added three more co-founders Joseph Lubin, Gavin Wood, and Jeff Wilcke. They didn’t know each other very well or have a detail plan of what they would finally create. But they had a vision. They wanted to create a “world computer” that would transform not just money, but allow anyone to write smart contracts, decentralized applications and create their own arbitrary rules for asset ownership. Ethereum went live on 30 July 2015, with 72 million coins minted. That was five years ago. Today, stablecoins and DeFi, have turned Ethererum into the most used blockchain.
Editor note: Ilias makes a persuasive explanation of why Ethereum is doing well, citing traction in the key new markets of the future – stablecoins and DeFi.
Tuesday Efi Pylarinou @efipm our Swiss-based Fintech Adviser, founder of Efi Pylarinou Advisory and a Fintech/Blockchain influencer – No.3 influencer in the finance sector by Refinitiv Global Social Media 2019 wrote A selection of 7 themes on ETFs and robo-advisors
A mini digital detox in August, may reboot and upgrade my operating system. In this post, I am sharing a selection from this year`s posts focused on ETFs (a 50yrs old innovation) and robo-advisors.
2020 started with a healthy and growing $5trillion global ETF market. In the US there were 2,000 already trading on platforms with zero commissions.
Editor note: the trend towards low cost, mostly passive, investment vehicles stays very strong even if we are now past the Cambrian explosion era and into a consolidation phase when a few big winners emerge.
Alan Scott Managing Director EMEA at 24 Exchange @Alan_SmartMoney wrote Stablecoin News for the week ending Tuesday 4th August
This weekly snapshot is the news that matters in the Stablecoin market.
Wednesday Guest author Amber Sutherland wrote A bankers guide to AI Part 2. What if the AI learns the wrong behaviours, such as bias?
Editor note: In every industry, banking included, much money will be made from AI automation (and sadly, many jobs lost). This 5 parter gives you some of the nuances and complexity of making that happen in banking.
Thursday Patrick Kelahan @insuranceeleph1, our US based Insurtech expert (a CX, engineering & insurance professional, working with Insurers, Attorneys & Owners who also serves the insurance and Fintech world as the ‘Insurance Elephant’) wrote Become a captive and be freed- an alternative to traditional risk management
Knowing there are risks that are challenging to underwrite or expensive to share with a carrier does not have to limit a firm’s or groups options for risk management, nor does a prospective firm need to engage a top-heavy syndicate where 40% of premium dollars result in expense costs. For those firms with stout hearts, clever advisers and an urge to have closer management of risk there are captive insurance schemes. And there just might be tax savings, too.
Editor note: Required reading fornsurance companies figuring out how to add value to corporates who do insurance in-house.
Thursday Christian Dreyer @x3er, our Swiss based CFA who focusses on how XBRL changes our world wrote XBRL: real-time reporting, extensible lists and rulesets
Editor note: This weekly snapshot is the news that matters in the XBRL market.
Editor note: This weekly snapshot is the news that matters in the Alt Lending market.
Bernard Lunn @lunnbernard, the CEO of Daily Fintech and author of The Blockchain Economy, wrote:Interview with John O’Neill of Silent Eight on how to use AI in financial services
Editor note: Read this to learn about AI for detecting money laundering, accounting fraud and consumer scams
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Cambodia payments fintech Clik lands $3.7m
Clik, a Cambodia-based fintech delivering mobile payment solutions to enterprises, merchants and consumers, has landed $3.7 million funding.
It marks the largest ever seed round in Southeast Asia to date, according to Crunchbase.
The round was led by strategic investors Openway – a Belgian digital payment software – and POEMS, a Singapore-based online trading platform. The funding also includes $2 million of commitments announced at the end of 2018.
Funding and partner network
Click intends to use the new capital to flesh out its product engineering and customer service teams.
Yet to formerly launch, the capital will also underpin its launch in Cambodia sometime later this year.
Since its founding in 2016, Clik has focused on building its partner network. It now has around 2,500 merchants on its books, alongside five financial institutions. These partnerships provide it with access to more than 56,000 merchants across Cambodia.
Some of its heavyweight partners include Ucare Pharmacy, Kiwimart and conglomerate Chip Mong Retail.
“After two years of scaling up and defining the fundamentals of our regional market strategy, we’re ready to accelerate our growth with the closure of our seed round,” says CEO and co-founder Matthew Tippetts.
The CEO thinks the round proves “investors are eager to back future proof platforms for the ‘new normal’ that will inevitably exist post-covid”.
He also thinks it nods to the attractive opportunities for investment in Cambodia, “especially in start-ups with robust regional potential”.
What does Clik do?
The start-up claims to be the first Southeast Asian provider of PCI-certified mobile point of sale (PoS) and software PoS merchant acquiring payment solutions.
The fintech is currently developing a platform which helps merchants build consumer loyalty and boost profits.
Having developed its own Know Your Customer (KYC) solution, Clik claims it can onboard consumers and merchants “in minutes”.
The new capital arrives as Clik announces a series new hires. They include its chief operating officer, Patrice Vignes, who previous served as chief financial officer of Amret, a Cambodia-based micro-finance provider.
Olivier Mermet is also welcomed into the fold. Having worked at Procter & Gamble for more than seven year, Mermet will now serve as Clik’s chief design and strategy officer.
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