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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
Index Ventures Leads USD119m Series C for Czech Food delivery startup Rohlik
Index Ventures led a EUR100m (USD119m) Series C for Czech Republic-based food delivery startup Rohlik, with follow-on from Partech and Quadrille Capital, at a reported EUR1b (USD1.2b) valuation. Rohlik raised a USD230m Series B from Partech, Index Ventures, Quadrille Capital and others in March 2021. Read More
Redpoint eventures and HDI Invest USD4.5m in Brazil’s Accountfy
Redpoint eventures and HDI Seguros invested USD4.5m in Accountfy, a Brazil-based B2B financial planning platform. Redpoint eventures and HDI invested USD6.5m in May 2020. Read More
AfricInvest Invests in DPI-Backed CMGP-CAS Merger
AfricInvest invested in DPI-backed CMGP-CAS, a merger between Moroccan irrigation systems company Compagnie Marocaine de Goutte à Goutte et de Pompage (CMGP) and Moroccan agricultural supplier Comptoir Agricole de Souss (CAS). Details of the transaction were not disclosed. Read More