Australia’s Quadrant Private Equity has reportedly closed its second growth capital fund at $390 million while Japanese fintech firm Toranotec secured $26.4 million in its Series C funding round.
Australia’s Quadrant PE raises $390m for second growth capital fund
Quadrant Private Equity, one of Australia’s busiest buyout firms, has secured A$530 million ($390 million) in commitments for its second Australia and New Zealand-focused growth capital fund, according to media reports.
Quadrant Growth Fund 2 is said to have drawn strong support from existing investors and also attracted some new investors, AFR reported.
The second fund’s close comes two years after Quadrant raised A$400 million for its first growth fund. The new growth fund is expected to target high-growth businesses with entrepreneurial owners/managers, or the same types of businesses already in its Quadrant Growth Fund 1.
The first fund’s portfolio includes digital professional services firm ARQ Group, online retail and auction firm Grays Online, the now listed Adore Beauty, and smartphone mounting systems designer Quad Lock, among others.
Japanese fintech startup Toranotec nets $26.4m
Toranotec, a Japanese fintech company that develops and operates apps, has raised 2.9 billion yen (about $26.4 million) in its Series C funding round led by JIC Venture Growth Investment, the venture capital arm of Japan Investment Corporation.
The funding round was also backed by Seven Bank, Aslead Capital, AG Capital, and Sumisei Innovation Fund, the corporate venture capital arm of Sumitomo Life, according to the announcement.
The company said it will use the fresh funding for marketing activities, expansion of its services, and investing in the development and deployment of new products and services.
Toranoko launched as an investing app in 2017, allowing consumers to use their loose change and loyalty points to invest in stocks and bonds around the world. This significantly lowers the hurdles for investment, the firm said. At least 300,000 accounts have already been opened through Toranoko.