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Corporation
acelimited.com

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Investments

5

Portfolio Exits

1

Partners & Customers

3

About Ace Limited

Ace Limited is a provider in insurance and reinsurance serving a group of clients. Headed by ACE Limited (NYSE: ACE), a component of the S&P 500 stock index, the ACE Group conducts its business on a worldwide basis.

Ace Limited Headquarter Location

Barengasse 32

Switzerland

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Latest Ace Limited News

Fletcher wants charities regulator to investigate ACE

Feb 25, 2020

Share Perhaps the only thing developing quicker than the Australian Communication Exchange's wind-up processes is Paul Fletcher's determination to have its books examined. On Monday, the communications minister formally wrote to his party room colleague Zed Seselja, the Assistant Finance Minister whose portfolio includes charities, asking him to request the Australian Charities and Not-for-profits Commission investigate the organisation that received $130 million in funding over five-and-a-half years to provide the national relay service, and most notably, the CapTel telephone captioning system used by around 1000 deaf Australians. As we revealed last week, the charity was in 2017 contracting an associate of its CEO Sandy Gilliland to conduct expensive consultancy work , shortly after the same associate had contracted Gilliland for $29,000 of professional services work. Gilliland said last week that lawyers and his board signed off on ACE's arrangements, while the second payment had nothing to do with his work for ACE. Writing to Seselja on Monday, Fletcher said he would like the Commission to consider whether ACE or its associated entities had "used its funds or assets for non-charitable purposes, such as for the private benefit of its members, directors or staff", as well as whether its responsible officers had "complied with the duty to disclose perceived or actual conflicts of interest and not to misuse their position". The decision on whether to investigate ultimately rests with the commissioner of the ACNC, Keating government minister turned Institute of Public Affairs senior fellow Gary Johns. Advertisement In his letter, Fletcher claims the ACNC has "previously investigated ACE and had a number of concerns" regarding its compliance with charities legislation. The ACNC operates under secrecy provisions that prevent it from disclosing or confirming investigations that do not result in enforcement actions: none have ever been taken against ACE. On the very same day the letter was sent, Gilliland, ACE's company secretary and liquidators met to wind up the company, in the presence of a single other member, ex-CFO and former director Paul Kennedy (who objected to the validity of the meeting and noted the absence of ACE's current directors). According to the minutes, quorum was achieved through Gilliland's holding of 33 proxies. Motions were passed to wind up the company, and instructing the liquidators to seek ASIC's consent to destroy its books, within legislative requirements. In the case of voluntary windups, the only such pre-requisite is ASIC's approval of proceedings. Share

Ace Limited Investments

5 Investments

Ace Limited has made 5 investments. Their latest investment was in Chegg as part of their Series F - II on May 5, 2012.

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Ace Limited Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/21/2012

Series F - II

Chegg

$2.4M

No

3/11/2012

Series F

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$99M

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10

10/12/2011

Series D

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$99M

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10

9/28/2010

Series E

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$99M

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10

11/17/2009

Series D

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$99M

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0

Date

5/21/2012

3/11/2012

10/12/2011

9/28/2010

11/17/2009

Round

Series F - II

Series F

Series D

Series E

Series D

Company

Chegg

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Amount

$2.4M

$99M

$99M

$99M

$99M

New?

No

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Co-Investors

Sources

10

10

10

0

Ace Limited Portfolio Exits

1 Portfolio Exit

Ace Limited has 1 portfolio exit. Their latest portfolio exit was Chegg on November 13, 2013.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/13/2013

IPO

$99M

Public

3

Date

11/13/2013

Exit

IPO

Companies

Valuation

$99M

Acquirer

Public

Sources

3

Ace Limited Acquisitions

5 Acquisitions

Ace Limited acquired 5 companies. Their latest acquisition was Fianzas Monterrey on April 03, 2013.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

4/3/2013

$99M

Acquired Unit

2

10/19/2012

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$99M

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10

6/13/2012

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$99M

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0

4/8/2011

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$99M

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0

2/24/2011

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$99M

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0

Date

4/3/2013

10/19/2012

6/13/2012

4/8/2011

2/24/2011

Investment Stage

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

Note

Acquired Unit

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Sources

2

10

0

0

0

Ace Limited Partners & Customers

3 Partners and customers

Ace Limited has 3 strategic partners and customers. Ace Limited recently partnered with Bentley Systems on December 12, 2018.

Date

Type

Business Partner

Country

News Snippet

Sources

12/7/2018

Partner

United States

Bentley Systems and ACE Enterprise Ready to Work Together.

ACE Enterprise and Bentley Systems has been technology partner for years and Bentley Systems use the ACE Enterprise Platform for the Bentley AssetWise connector that is certified for both SAP ERP and SAP HANA .

1

11/6/2012

Vendor

United States

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10

Vendor

China

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10

Date

12/7/2018

11/6/2012

Type

Partner

Vendor

Vendor

Business Partner

Country

United States

United States

China

News Snippet

Bentley Systems and ACE Enterprise Ready to Work Together.

ACE Enterprise and Bentley Systems has been technology partner for years and Bentley Systems use the ACE Enterprise Platform for the Bentley AssetWise connector that is certified for both SAP ERP and SAP HANA .

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Sources

1

10

10

Ace Limited Team

1 Team Member

Ace Limited has 1 team member, including current Chief Executive Officer, Ace Christian.

Name

Work History

Title

Status

Ace Christian

Chief Executive Officer

Current

Name

Ace Christian

Work History

Title

Chief Executive Officer

Status

Current

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