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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
Trustar Capital Acquires China’s Beijing Salion Foods
Trustar Capital acquired Beijing Salion Foods, a China-based compound condiment and basic food ingredients company, via its fourth China buyout fund for an undisclosed amount. Read More
Global Ventures and Egyptian Banks Launch Fintech Innovation Fund
Global Ventures has reached a first close for Nclude, a fund targeting investments in fintech startups operating in the Middle East and Africa region, with USD85m in commitments from Banque Misr, National Bank of Egypt and Banque du Caire. Read More
Northstar and Alpha JWC Lead USD120m Series C for Indonesia’s Sayurbox
Northstar and Alpha JWC Ventures led a USD120m Series C for Sayurbox, an Indonesia-based B2C and B2B e-grocery startup, with participation from IFC and follow-on from Astra, Syngenta Group Ventures and Global Brain. Read More
Global Ventures Leads USD25m Series A for Egypt’s Lucky
Global Ventures led a USD25m Series A for Egypt-based fintech app Lucky, with participation from PayU, Endeavor Catalyst, Venture Souq, OTF, Arzan Capital and Disruptech, and follow-on from existing investors and Lorax Capital Partners. Read More