GPCA covers the latest fund, investment and industry news across our markets in two newsletters: NewsWatch is a weekly round-up of key transactions across asset classes; the Global Tech Brief is a bi-weekly review of tech transactions and innovations with cross-border applications. Subscribe in the left-hand sidebar.
Access past editions of NewsWatch here.
Varana, Vista, New Abundance, Others Invest USD17m Series A for Argentina’s Stamm
Stamm, an Argentina-based developer of bioreactor equipment, raised a USD17m Series A from Varana, Vista, New Abundance, Trillian, Serenity Traders and Decarbonization Consortium, with follow-on from Draper Cygnus, Draper Associates, SOSV, Grid Exponential, VistaEnergy, Teramips and Dragones VC. Read More
Milango Acquires 500-Backed Circle
Egypt-based community management software provider Milango acquired Circle, an Egypt-based proptech backed by 500 Global, for an undisclosed amount. Read More
4DX Ventures and Wamda Lead Seed Round for Egypt’s FreshSource
4DX Ventures and Wamda led an undisclosed, seven-figure round for Egypt-based agtech FreshSource. Read More
Brookfield Acquires 60% of First Abu Dhabi Bank’s Magnati
Brookfield Asset Management agreed to acquire a 60% stake in Magnati, the payments arm of First Abu Dhabi Bank, valuing it at a reported USD1.15b. Read More
Riyada Managers Closes RCare Continuation Fund and Acquires 29% Stake in Egypt’s Cleopatra Hospital Group
Riyada Managers closed RCare, its single asset continuation fund, and acquired a 29% stake in Egypt-listed Cleopatra Hospital Group from Actis, DEG, EBRD and Proparco. Read More
Warburg Pincus and Bessemer Invest USD70m Series C in India’s Perfios
Warburg Pincus and Bessemer India led a USD70m Series C for India-based fintech Perfios at a USD400m reported valuation. Warburg and Bessemer invested in the company in November 2019. Read More
Prime Ventures Reaches USD120m Final Close for Fourth Fund
Prime Venture Partners reached a USD120m final close for its fourth fund, exceeding its initial target of USD100m. The vehicle will invest in Indian startups across the fintech, edtech, healthtech, consumer internet and SaaS sectors, as well as in new areas such as electric vehicles, B2B, Web3 and gaming infrastructure platforms. Read More
Fozun RZ Capital Reaches ~USD316m final close for Third CNY Fund
Fozun RZ Capital reached a CNY2b (~USD316m) final close for its third CNY-denominated fund. The vehicle will make early- and growth-stage investments across the technology and new consumer goods industries, with a focus on semiconductor chip, autonomous driving, SaaS, new energy, robotics, cross-border business, cyber security and new brands in China. Read More
IFC To Provide ~USD40m Loan to Brazil’s Ser Educacional
IFC agreed to provide a loan of up to BRL200m (~USD40m) to Brazil-based education group Ser Educacional. Read More
Bradesco Launches ~USD51m Fund of Funds
Bradesco Asset Management is launching Explorer, a BRL250m (~USD51m) fund of funds to invest in private equity and venture capital funds as well as in impact investing managers. Read More
CDC Group, Norfund and DFC Provide USD90m to AgDevCo
Africa-focused agriculture social impact investor and project developer AgDevCo secured USD90m in funding from CDC Group, Norfund and DFC. CDC and Norfund provided USD50m and USD20m, respectively, in equity, while DFC provided USD20m in senior debt. Read More
Affirma Capital Leads USD93m Series B for Singapore’s Beam
Affirma Capital led a USD93m Series B for Beam, a Singapore-based micromobility startup that operates e-scooters, with participation from Sequoia Capital India, Hana Ventures, ICT Capital, EDBI, AC Ventures, RTP Global and Momentum Venture Capital. Read More