UK-based independent private equity firm Vitruvian Partners closed USD1.6 billion (EUR1.2 billion) in a fundraising round for its second fund, the Vitruvian Investment Partnership II (VIP II).

European private equity company Bridgepoint has agreed to acquire pre-university training firm Cambridge Education Group (CEG) from London-based investor Palamon Capital Partners for GBP185 million.

Germany-based second screen TV startup Wywy announced that it has secured USD7 million in Series B funding for its expansion to Europe and the United States.

California-based pharmaceutical company PaxVax Inc raised USD22 million in a Series B funding round for the late-stage trial of its single-dose oral cholera vaccine for travelers.

Italy's richest man Giovanni Ferrero said that chocolate company Ferrero SpA has no plans to go public or sell out to a bigger rival. Ferrero unveiled his company's vision to expand in Asia and the US in the next decade.

Christer Gardell, who co-founded Europe's biggest activist investor Cevian Capital, expects a burst of activity in mergers and acquisitions next year as corporate confidence returns.

Student rental marketplace FlatClub raised USD1.5 million from angel investors and venture capitalists to build more transient rooms and apartments across the US and Europe.

France's Accor on Wednesday announced a plan to break up the hotel group in order to improve its performance and shareholder returns. Accor, the largest hotel group in Europe, owns luxury and upscale brands such as Sofitel and The Sebel.

According to a research study by Dow Jones & Company, Ireland attracted the most venture capital funding per capita in the European region. The data showed that most Irish tech startups have fared well even during the economic recession.

Bain Capital has began raising USD3.5 billion for its fourth European private equity fund. The American private equity firm also offered its investors two fee structure to choose from.