Launches & Closures

Devonshire plans second funding round

by

Robert Tomei
Mark Devonshire, the former Merrill Lynch credit trader, is now preparing for the next bout of fund raising for mCapital’s European and Asian Special Situation Fund after securing additional seed money from an Italian fund of private equity fund.

Devonshire and his team at mCapital say they have attracted $74 million in seed funding from Italian firm Advanced Capital and Amsterdam-based IMQubator. The infusion from Advanced Capital has paved the way for the launch of their fund that was stalled for two years after it difficulties in attracting investor interest. Its seeding discussions