VENTURE CAPITAL POST

Poundland Group announced the retirement of Jim McCarthy as the chief executive officer of the company. Jim McCarthy will be succeeded by Kevin O' Byrne as the next chief executive officer of Poundland.

Slater & Gordon announced a net loss after tax of $958.3 million for the first-six-month period of 2016. The company is attempting to boost growth in UK operations.

Transocean's fourth quarter earnings exceeded the analysts' earnings estimate amid the ongoing fall in the oil market. The company managed to post a quarterly profit of $617 million by reducing its operating costs.

Dallas-based Modo Payments has raised $2 million in a funding round headed by Tim Keith. The company will use the money from funds to widen its payment services buisness.