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.
TPG Invests USD221.7m in South Korea’s KakaoBank
TPG invested USD221.7m in South Korea-based Kakao Bank through subscription of new shares.The deal reportedly values the internet bank arm of Kakao Corp at an estimated USD8.3b. Read More
YF Capital Leads USD315m Series E for Chinese Industrial Products Marketplace ZKH
YF Capital led a USD315m Series E for ZKH Industrial Supply, a China-based distribution platform for industrial products, with participation from China Structural Reform Fund, CIC Capital, and two funds involving Xiamen C&D. Existing investors Genesis Capital, Eastern Bell Capital, Tencent Holdings, Tiger Global Management, Matrix Partners China, Legend Capital, and Cowin Capital re-upped. Read More
Astella Investimentos Invests USD1.4m Seed Round for Brazilian Govtech Gove
Astella Investimentos has invested a BRL8m (approximately USD1.4m) seed round for Gove, a Brazilian intelligence platform for managing municipal finance. Read More
Jungle Ventures Leads USD10m Series B for Indian Workforce Management Platform Betterplace
Jungle Ventures led a USD10m Series B for India-based workforce management platform Betterplace, with follow-on from Unitus Ventures, 3one4 Capital, and Venture Highway. Read More
KawiSafi Leads USD13.5m Series B for US- and Kenya-Based Pay-as-you-Go Technology Platform Angaza
KawiSafi Ventures led a USD13.5m Series B for Angaza, a US- and Kenya-based pay-as-you-go technology platform enabling consumer access to essential products in emerging markets. Total Carbon Neutrality Ventures, the VC arm of broad energy company Total, participated in the round and existing investors Ajax Strategies, Emerson Collective, Rethink Impact, and Salesforce Ventures followed-on. Read More
CDC Invests Additional USD40m in Mauritius-Based Liquid Telecom
CDC Group has invested an additional USD40m in Liquid Telecom, an pan-African fiber, data center, and cloud technology provider, after investing USD180m in 2018. Read More
Warburg Pincus Partially Exits Philippines’ Broadband Operator Converge
Warburg Pincus has partially exited Converge ICT Solutions, a Philippines-based broadband operator, via the company’s USD600m IPO on the Philippine Stock Exchange. Warburg Pincus maintains a 13.8% stake. Read more here and h Read More
Swedfund Invests USD1m in Kenya’s Kasha Global
Swedfund has invested USD1m in Kasha Global, an e-commerce platform with subsidiaries in Rwanda and Kenya that enables access, education, and confidential distribution of women’s contraceptives, menstrual and health products, primarily to underserved women. Read More
IDB Invest Leads USD15m Pre-Series C Round for Mexican E-Commerce Startup GAIA
IDB Invest led a USD15m pre-Series C for Mexico-based furniture e-commerce startup GAIA. IDB Invest committed USD10m, with follow-on from existing investors. Read More
Genesia Ventures Reaches USD75m Final Close for Japan and Southeast Asia VC Fund
Genesia Ventures reached a USD75m final close for its Genesia Venture Fund II to invest in Japan and Southeast Asia-based companies covering the digital transformation, new economy, as well as media and entertainment sectors. Read More
Aqua Capital Exits Fertiláqua for USD120m via Sale to Israel-Based ICL
Aqua Capital exited Fertiláqua, a Brazilian plant nutrition firm, via a sale to ICL, an Israel-based specialty minerals and chemicals company for USD120m. Read More
Baring PE Asia Sells 6.3% Stake in India’s Coforge for USD119m via Open Market Transactions
Baring PE Asia exited a 6.3% stake in India’s Coforge (previously known as NIIT Technologies) for INR8.78b (~USD119m) via open market transactions. Read More