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FPT Acquires Majority Stake in Vietnamese Enterprise Software Company Base.vn; 500, Alpha JWC, BeeNext & Nextrans Exit
Vietnam-based tech firm FPT Corporation has acquired a majority stake in enterprise software company Base.vn for an undisclosed amount, facilitating an exit for all VC investors in the company including 500 Startups, Alpha JWC Ventures, Beenext and Nextrans. Read More
True North Exits Indian Ridesharing Company Meru via ~USD10.2m Sale to Mahindra
True North and others have exited their combined 44.14% stake in India-based ridesharing company Meru Travel Solutions via a sale to automotive giant Mahindra & Mahindra for INR760.3m (~USD10.2m). Mahindra will also acquire a 12.66% stake from Neeraj Gupta and Farhat Gupta for INR216.3m (~USD2.9m), increasing its stake to 100%. Read More
Atlantico Leads ~USD20.2m Series B for Brazilian D2C Cosmetics Brand Sallve
Atlantico led a BRL110m (~USD20.2m) Series B for Brazil-based D2C cosmetics brand Sallve, with participation from Red Swan and Endeavor Catalyst and follow-on from Astella Investimentos, Canary, Waldencast and KASZEK. Read More
Motilal Oswal Invests USD25m in India’s Fincare SFB, True North Partially Exits
Motilal Oswal Private Equity, through its India Business Excellence Fund III, has acquired a minority stake in India-based Fincare Small Finance Bank for USD25m through a secondary deal, facilitating a partial exit for True North. Read More
Méliuz Acquires InvestTech-Backed Acesso Bank for USD59.5m
Brazil-based cashback platform Méliuz has acquired Acesso Bank, a Brazilian fintech backed by InvestTech, in a BRL324m (USD59.5m) all-stock deal. Read More
WWB and MDI Ventures Lead USD28m Round for Indonesian Fintech Amartha
Women’s World Banking Capital Partners II and MDI Ventures led a USD28m round for Indonesia-based peer-to-peer fintech Amartha, with follow-on from Mandiri Capital Indonesia and UOB Venture Management. Read More
CPP Investments and AIMCo Invest ~USD411m in Brazilian Water and Sewage Service Holding Company Igua Saneamento
Existing investors CPP Investments and Alberta Investment Management Corporation (AIMCo) have agreed to invest an additional BRL1.7b (~USD318m) and BRL500m (~USD93m), respectively, in Igua Saneamento, a Brazil-based water and sewage service holding company backed by IG4 Capital, to fund a new concession. Read More
MAIF Avenir and Silicon Badia Lead USD20m Round for Tunisian B2B Expense Management Platform Expensya
MAIF Avenir and Silicon Badia led a USD20m round for Tunisia-based B2B expense management solutions provider Expensya, with follow-on from ISAI and Seventure Partners. Read More
Metier Exits South Africa’s Bokpoort Concentrated Solar Power to Revego for ~USD14.2m
Metier has sold its 12% stake in Bokpoort Concentrated Solar Power, a 50MW thermal energy power plant in South Africa, to Revego Africa Energy for ZAR204m (~USD14.2m). Read More
Adenia Exits Côte d’Ivoire’s Power Security Solutions Provider Ademat via Sale to SPE Capital
Adenia Partners has sold its 100% stake in Côte d’Ivoire-based power security solutions provider Ademat to SPE Capital for an undisclosed amount. Adenia originally acquired Ademat in 2016. Read More
Launchpad Capital Reaches USD35m Final Close for Baltics VC Fund
Launchpad Capital has reached a USD35m final close for its maiden VC fund targeting early-stage investments in startups in fintech, insurance and real estate in the Baltics. Read More
Avataar and Prosus Lead USD75m Series D for Indian E-Commerce Logistics Startup ElasticRun
Existing investors Avataar Ventures and Prosus Ventures led a USD75m Series D for ElasticRun, an India-based startup connecting e-commerce companies to MSMEs in rural areas, with follow-on from Kalaari Ventures. Read More