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.
RMBV Leads USD40m Series A for Egyptian B2B Grocery Provider MaxAB
RMBV led a USD40m Series A for MaxAB, an Egypt-based B2B grocery provider, with participation from Flourish Ventures, IFC, Crystal Stream, Rise Capital and Endeavour Catalyst, and follow-on from Beco Capital and 4DX Ventures. Read More
Navis Exits Amazon Papyrus Chemicals via Sale to The Longreach Group
Navis Capital Partners exited Amazon Papyrus Chemicals Group, a Hong Kong-headquartered chemical solutions provider to the pulp and paper industry, via a sale to The Longreach Group for an undisclosed amount. Navis originally acquired a controlling stake in the business in 2014. Read More
KKR Acquires Indian Road Assets from Global Infrastructure Partners
KKR, through its KKR Asia Pacific Infrastructure Fund, acquired Highway Concessions One and seven highway assets in India from Global Infrastructure Partners for an undisclosed amount. Read More
IFC Invests USD50m in Morocco’s Holmarcom Insurance Activities
IFC invested USD50m in Holmarcom Insurance Activities, the insurance services business unit of Morocco-based conglomerate Holmarcom Group, for an undisclosed minority stake. Read More
Zinnia Global Fund Leads USD140m Debt and Equity Series D for India’s Furlenco
Zinnia Global Fund led a USD140m Series D comprising both debt and equity for Furlenco, a subscription-based furniture rental company based in India, with follow-on from CE-Ventures and Lightbox Ventures. Read More
Affirma Invests USD76.9m in South Korea’s SeAH ESAB and SeAH FS
Affirma Capital agreed to acquire a 50% stake in SeAH ESAB, a South Korea-based manufacturer of welding materials, and a 70% stake in SeAH FS, a global manufacturer of steel tubes with operations in South Korea, China, Thailand, India, Indonesia and Mexico, for USD76.9m. Read More
Tiger Global Leads USD42m Series B for Nigeria’s FairMoney
Tiger Global Management led a USD42m Series B for FairMoney, a neobank offering consumer credit for Nigerians, with follow-on from DST Global, Flourish Ventures, Newfund and Speedinvest. Read More
IFC, Ninety One’s EAIF, AfDB, Others Provide ~USD211m in Financing for Meridiam-Backed Kinguele Project in Gabon
IFC, Ninety One’s EAIF, the African Development Bank (AfDB) and the Development Bank of South Africa provided EUR178m (~USD211m) in financing to develop the Kinguélé Aval hydroelectric dam in Gabon. Read More
MTG Acquires India’s PlaySimple for USD360m; Chiratae Ventures and Elevation Capital Exit
Swedish gaming giant MTG (Modern Times Group) acquired India-based gaming platform PlaySimple for ~USD360m, providing an exit for investors including Chiratae Ventures and Elevation Capital. Read More
Novastar Ventures Leads Series B for Nigerian Fintech TeamApt
Novastar Ventures led an undisclosed Series B for Nigeria-based fintech TeamApt, with participation from Global Ventures, FMO, CDC Group, Endeavor Catalyst, Soma Capital, Kepple Africa, Oui Capital and angel investors. Read More
Partners Group Acquires 24.9% Stake in China’s Apex Logistics
Partners Group acquired a 24.9% stake in China-based air freight forwarder company Apex Logistics from its majority owner Kuehne + Nagel for an undisclosed amount. Read More
Bevy Acquires Egypt’s Eventtus; Algebra Ventures, MEVP, Others Exit
Partners Group acquired a 24.9% stake in China-based air freight forwarder company Apex Logistics from its majority owner Kuehne + Nagel for an undisclosed amount. Read More