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.
Morgan Stanley Reaches Final Close for India Infrastructure Fund
Morgan Stanley has reached an undisclosed final close for its North Haven India Infrastructure Fund, which reportedly had an initial target of USD750m and plans to invest in roads, airports, ports, power plants, as well as health care, telecom, and education in India. FMO recently invested USD20m in the fund that also counts China-headquartered Asian Infrastructure Investment Bank among its… Read More
Tencent and Capital Today Lead USD360m Series C for Chinese Fresh Produce Retailer Yipin Shengxian
Tencent and Capital Today led a CNY2.5b (approximately USD360m) Series C for China-based fresh produce retailer Yipin Shengxian, with participation from existing investor Eastern Bell Venture Capital. Read More
Navis Exits Stake in Malaysian ICT Company Strateq via Sale to StarHub for ~USD31m
Navis Capital Partners has exited its controlling stake in Malaysia-based information and communications technology (ICT) company Strateq via a sale to a subsidiary of Singapore-listed StarHub for MYR130m (approximately USD31m). Navis might receive an additional MYR30m (approximately USD7m) based on Strateq’s performance in 2021. Read More
Leap Ventures Exits Lebanese Drone-Based Solutions Company NAR Technologies via Sale to B3bar
Leap Ventures has exited Lebanon-based tech-enabled drone inspection management company NAR Technologies via a sale to US-based B3bar. Read More
Intuit Acquires Singapore’s TradeGecko for Reported USD80m, Openspace, Wavemaker, and Others Exit
US-based financial software company Intuit has agreed to acquire TradeGecko, a Singapore-based inventory management software platform, for a reported USD80m. The transaction has facilitated an exit for existing shareholders Openspace Partners, Wavemaker Partners, Golden Gate Ventures, and Jungle Ventures. Read More
STIC Invests USD200m in Singapore’s Ridesharing Company Grab
South Korea-based PE firm STIC Investments has invested USD200m in Grab, a Singapore-based ride-hailing transport services company reportedly valued at USD14.3b and backed by SoftBank. Read More
New York State Common Commits USD300m to KKR Asian Fund IV
The New York State Common Retirement Fund has committed USD300m to KKR Asia Fund IV. The vehicle, which targets USD12.5b, will make pan-Asia investments with a focus on control buyout transactions. The fund has reportedly raised USD11b to date. Read More
ALIVE Ventures Reaches USD28m Final Close for Latin America Impact Fund
Acumen LatAm Impact Ventures (ALIVE, previously Acumen LatAm Capital Partners) has reached a USD28m final close for Acumen Latin America Early Growth Fund. The vehicle will invest in innovative, impact-driven early-growth companies in Colombia and Peru. Read More
8 Miles and Other Shareholders to Exit Uganda’s Orient Bank via Sale to I&M Holdings
I&M Holdings has agreed to acquire a 90% stake in Uganda-based Orient Bank, providing an exit for shareholders including 8 Miles who first invested in the bank in 2015 and held a 42% interest. The transaction is subject to regulatory approvals. Read More
Enterprise Investors Sells Polish Wind Farm to PGE for USD59m
Enterprise Investors (EI) has sold Poland-based Skoczykłody wind farm to PGE Energia Odnawialna for EUR50m (approximately USD59m). The wind farm was developed by EI’s portfolio company Wento. Read More
Tata Capital Growth Fund to Invest USD30m in Indian Biopharma Biocon Biologics for 0.85% Stake
Tata Capital Growth Fund has agreed to invest INR2.25b (approximately USD30m) in India-based biopharmaceuticals company Biocon Biologics for a 0.85% stake in a deal that reportedly values the business at USD3.5b. Read More
Warburg Partially Exits Stake in India’s AU Small Finance Bank for USD69m
Warburg Pincus has divested a 2.2% stake in India-based AU Small Finance Bank for INR5.17b (approximately USD69m) through an open market transaction. Buyers include Abu Dhabi Investment Authority, Reliance Mutual Fund, Morgan Stanley Asia Singapore, and Westbridge AIF I. Warburg retains a ~4.5% stake in the bank. Read More