Cayman-based Equity Partners Fund SPC has agreed to invest 500 million Euros (approximately $690.2 million dollars) into Zfere Holdings acquisition activities.

Apart from allowing the company to consolidate its presence globally, the facility led by EPF with participants, Funchal Equity Partners Fund and Zigong Commercial Equity Partners Fund is designed to provide Zfere with the necessary capital to fulfill its development strategy, the company has announced. Further terms of the funding were not disclosed.

Zfere is an enhanced, converged new media company, which designs, develops, and implements viable technologies for social media, social commerce, marketing, and mobile payment systems.

“The acquisition, which we expect to finalize shortly will position Zfere to redefine people's concept of what social commerce is.  Immediately after this acquisition we will dramatically expand beta testing of our mobile products, and shortly thereafter make our more traditional products available to members and Zfere Enabled Business's globally," stated Zfere Holdings CEO, Steve Vanderbol in a company press release.

The company also announced that is has signed an agreement to purchase a Frankfurt Exchange listed company as part of this transaction.  The acquired company to be renamed Zfere will consolidate global social commerce operations. Considered a private fund run by its principals and similar to a merchant bank that invests its own capital and as such, it is seeking capital appreciation through the identification and funding of liquid growth companies. At this time, Equity Partners Fund SPC has no outside investors.

Recently, the company announced that it has secured a $100 million equity facility from Equity Partners Funds SPC. Zfere is an enhanced, converged new media company through subsidiaries in Europe, Asia and North America where it designs, develops, and implements viable technologies for social media, social commerce, marketing, and mobile payment systems. The company stated that this funding agreement enables the company to dynamically respond to market activities, as well as provides the ability to deploy new technologies.