Reef secures ?30 million in third round

Investee Company – Reef SA (Belgium)

Investee Company Business – Provides eBusiness management software.

Type of Financing – Third Round

Equity Providers – The Carlyle Group, IDG Ventures Europe, Finafund, 3i and Viventures.

Equity Leader (Individual) – Michael Wand (The Carlyle Group)

Debt Providers – N/A

Debt Type – N/A

Debt Leader (Individual) – N/A

Equity Amount – €30 million

Total Deal Value – €30 million

Other Advisors – Alexander Banz (investment adviser at 3i)

Comments – Brussels-based Reef SA, a global provider of Internet software applications for the management of eBusiness has raised €30 million in third round funding, including the conversion of bridge loans.

The deal was led by The Carlyle Group, a private global investment firm. Reef plans to use the capital to strengthen its position and become market leader.

The Carlyle Group is a private global investment firm that originates, structures and acts as lead equity investor in management-led buyouts, strategic minority equity investments, equity private placements, consolidations and build-ups, and growth capital financings. Since its inception, the firm has invested over $6.4 billion of equity in 233 corporate and real estate transactions with an aggregate acquisition value of over $18 billion. As of September 30, 2001, the firm had more than $12.5 billion of committed capital under management.

Founded in 1999, Reef is a leading global Internet software company that provides an open, integrated, software-based foundation for managing dynamic e-business. The company is privately held and funded by Goldman Sachs, 3i, Cisco Systems, Net Fund Europe, Profrigo, Viventures, and other investors. Led by an experienced management team with proven industry success, Reef serves a broad range of industries, including media/entertainment, telecommunications, healthcare, information technology, finance, and retail.

Michael Wand, director of The Carlyle Group, who will be joining Reef’s board of directors, said: “Reef has made a strong impact in the software sector. The company combines a talented management team with a powerful product suite that stands apart from its competitors both in terms of technical vision and performance.”