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Gaorong Capital Reaches USD1.15b Final Close for Fifth USD-Denominated Fund
Gaorong Capital has reached a USD1.15b final close for its fifth USD-denominated fund. Gaorong Partners Fund V, the main fund, received USD1b and Gaorong Partners Fund V-A, a side fund, received USD150m. Gaorong Capital focuses on early- and growth-stage investments in technology, enterprise services, fintech, and retail. Read More
PAG-Led Consortium to Acquire Majority Stake in Indian Pharma Company Anjan Drug
A consortium of investors led by PAG and including CX Partners and Samara Capital has acquired a majority stake in Anjan Drug, an India-based manufacturer of active pharmaceutical ingredients, for an undisclosed amount. Read More
Shorooq Partners Leads USD2.3m Pre-Seed Round for Saudi B2B Marketplace Retailo
Shorooq Partners led a USD2.3m pre-seed round for Saudi Arabia-based B2B e-commerce marketplace Retailo, with participation for 500 Startups and 92 Ventures. Read More
Newly Founded +VC Launches Debut MENA Fund
Sharif El-Badawi and Hasan Haider, former managing partners of 500 Startups’ Falcons Fund, have founded Plus Venture Capital (+VC) and launched its debut fund with a reported initial target of USD60m to be invested in early-stage tech startups in the Middle East and North Africa. Read more here and h Read More
CCV Reaches USD300m Final Close for Second USD-Denominated Fund
China Creation Ventures has reached a USD300m final close for CCV Fund II, its second USD-denominated fund. The vehicle will target early-stage investments in the TMT sector in China. Read More
GIC and Sequoia India Lead USD100m Series D for Indian Fintech Razorpay
GIC and Sequoia Capital India led a USD100m Series D for India-based fintech Razorpay, with participation from existing investors Ribbit Capital, Tiger Global, Y Combinator, and Matrix Partners. The investment reportedly brings the company’s valuation to over USD1b, granting Razorpay unicorn status. Read More
AC Ventures Reaches USD56m First Close for ACV Capital III
AC Ventures has reached a USD56m first close for ACV Capital III. The fund, which targets USD80m, will invest in early-stage companies in Indonesia. Read More
SHUAA Launches USD200m Financing Opportunities Fund
SHUAA Capital has launched SHUAA Financing Opportunities Fund with an initial target of USD200m. The vehicle, which targets special situations in the GCC, has attracted USD68m in commitments to date. Read More
Archipelago Acquires 60% Stake in Malaysian Dessert and Beverage Chain Coolblog from Ekuinas for USD18m
Archipelago Capital Partners has acquired a 60% stake in Malaysia-based dessert and beverage chain Coolblog from government-backed PE firm Ekuinas for MYR75m (approximately USD18m). Read More
TLG Acquires 49% Stake in Opportunity Bank Uganda
TLG Capital has acquired a 49% stake in Uganda-based commercial bank Opportunity Bank Uganda (OBUL) through its Credit Opportunities Fund. TLG is now the largest shareholder of OBUL as a result of the transaction. Read More
Proparco and Bpifrance Announce Launch of Fourth Africa Fund of Funds
Proparco and Bpifrance have announced the launch of Averroès Africa, their fourth fund of funds dedicated to African funds investing in startups and SMEs in Africa. The vehicle has an initial target size of EUR100m (approximately USD118m), with a EUR55m (approximately USD65m) first close expected by the end of 2020. Read More
Chiratae Invests USD3.2m Ongoing Series A for Indian Agtech Ergos
Chiratae Ventures has invested INR235m (approximately USD3.2m) in the ongoing Series A of India-based agtech Ergos for a 17.6% stake in the company. Aavishkaar Capital has also committed INR350m (approximately USD4.8m) for a 26.22% stake as part of this round. Read More