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Catalyst Private Equity Reaches ~USD24m First Close for Impact Fund
Catalyst Private Equity reached an EGP450m (~USD24m) first close for its Catalyst Capital Egypt Fund, a new impact-oriented vehicle targeting investments in SMEs in Egypt and the Middle East. The fund has a EGP1b (~USD54m) target. Read More
Tencent Leads USD180m Series C for Jeeves
Tencent led a USD180m Series C for Jeeves, a US-based expense management platform with operations in Latin America, Canada and Europe, at a reported USD2.1b valuation, with participation from GIC, Stanford University, Andreessen Horowitz, CRV, Silicon Valley Bank, FT Partners, Clocktower Ventures, Urban Innovation Fund, Haven Ventures, Gaingels and Spike Ventures, among others. Read More
Sary Leads USD22.5m Series A for Pakistan’s Jugnu
Saudi Arabia-based B2B marketplace Sary led a USD22.5m Series A for Pakistan-based B2B e-commerce startup Jugnu, with participation from Sarmayacar and Systems Limited. Read More
EQT Acquires Majority Stake in China’s Guardian
EQT, through its EQT Mid Market Asia III fund, acquired a majority stake in China-based pest control operator Guardian Shanghai Hygiene Service for an undisclosed amount. Read More
EverSource Capital Acquires Majority Stake in India’s Lithium Urban Technologies; Lightrock and IFC Exit
EverSource Capital, through its Green Growth Equity Fund, acquired a majority stake in India-based EV fleet operator Lithium Urban Technologies for an undisclosed amount, facilitating an exit for Lightrock and IFC. Read More
Innova Capital Exits Slovenia’s Trimo for ~USD181m
Innova Capital exited Trimo, a Slovenia-based provider of building envelope solutions for the construction industry, via a sale to Belgium-based industrial group Recticel at an enterprise value of EUR164m (~USD181m). Read More
Helios Sells 25% Stake in Nigeria’s Axxela
Helios Investment Partners sold a 25% stake in Nigeria-based gas distributor Axxela to Japan-based Sojitz Corporation. Helios retains a 75% stake in the company. Read More
Quona Leads USD38m Debt and Equity Round for Egypt’s Khazna
Quona Capital led a USD38m debt & equity round for Egypt-based super app Khazna, with participation from Speedinvest, Nclude, Khawarizmi Ventures, Algebra Ventures, Accion Venture Lab, Disruptech, AB Accelerator by Arab Bank and CVentures. Lendable provided debt. Read More
Meridiam To Invest ~USD149m in Senegal’s Bus Rapid Transit Project
Meridiam agreed to invest EUR135m (~USD149m) in Bus Rapid Transit, a Senegal-based new clean public transport network. Read More
A.P. Moller To Acquire Kenya’s Thika Power
A.P. Moller, through its Africa Infrastructure Fund I, agreed to acquire Kenya-based independent power producer Thika Power from Melec PowerGen and Africa Energy Resources for an undisclosed amount. Read More
SoftBank Leads USD40m Round for Kenya’s Apollo
SoftBank led a USD40m round for Kenya-based agtech Apollo, with participation from Chan Zuckerberg Initiative, Yara Growth Ventures, Endeavor Catalyst and CDC, and follow-on from Anthemis Exponential Ventures, Flourish Ventures, Leaps by Bayer, SBI, Breyer Capital and TO Ventures Food. Read More
Insight Partners Leads USD45m Series D for Estonia’s Glia
Insight Partners led a USD45m Series D for Glia, an AI-based customer service solutions provider based in Estonia, at a reported USD1b+ valuation, with participation from RingCentral and follow-on from Wildcat Capital Management. Read More