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CB Growth One Invests ~USD.1.1m in Slovak Agtech Nitroterra
CB Growth One, a fund managed by Slovakia-based VC fund manager CB Investment Management, has invested EUR1m (approximately USD1.1m) in Slovakia-based agtech Nitroterra. Read More
Algebra Ventures Leads USD3.5m Pre-Series A for Egyptian Social Commerce Platform Brimore
Middle East-focused fund manager Algebra Ventures led a USD3.5m pre-Series A for Egypt-based social commerce platform Brimore, with participation from existing investors 500 Startups and Flat6Labs, and from new investors Disruptech and Vision Ventures. Algebra Ventures previously co-led a USD800k seed round for the company in February 2019. Read More
Convergence Partners Acquires Vodacom Business Africa’s Operations in Nigeria, Zambia, and Cote D’Ivoire
Africa-focused TMT investment management firm Convergence Partners has acquired Vodacom Business Africa’s operations in Nigeria, Zambia, and Cote d’Ivoire via its pan-African digital service provider platform inq. (formerly known as Synergy Communications) for an undisclosed amount. A further planned acquisition of Vodacom’s operations in Cameroon is pending regulatory approvals. Read More
Dragon Ball Capital and CDH Investments Lead USD56m Series C for Chinese Food Distribution Platform Lehe
Dragon Ball Capital, the VC arm of Meituan-Dianping, and China-focused private equity firm CDH Investments led a USD56m Series C for China-based food and ingredient distribution platform Lehe Food, with participation from Guangzhou Hezhi Investment Management. Dragon Ball Capital and Hezhi previously invested in the company’s USD14m Series B in October 2019. Read More
Sunshine Insurance Leads USD60m Series C+ for Chinese Finance and Tax Management Software Developer Huisuanzhang, Gaocheng Capital, Xiaomi, and Swift Join
China-based Sunshine Insurance Group led a USD60m extended Series C for China-based finance and tax management software developer Huisuanzhang, with participation from existing investors Gaocheng Capital, Xiaomi, and Swift Hover. Read More
INVL Baltic Sea Growth Fund Agrees to Acquire Controlling Stake in Latvian Waste Collection Specialist Eco Baltia
INVL Baltic Sea Growth Fund, a fund managed by Lithuania-based firm INVL Asset Management, has agreed to acquire a controlling stake in Latvia-based plastic recycling and waste collection specialist Eco Baltia. Read More
Bertelsmann India, Tribe Capital, and InnoVen Lead USD13m Series C for Indian Logistics Startup Shiprocket
Bertelsmann India Investments, Tribe Capital, and InnoVen Capital led a USD13m Series C for India-based logistics aggregator Shiprocket. Read More
Carlyle to Acquire up to 74% Stake in Indian Health Care Services Provider SeQuent Scientific for USD216m
The Carlyle Group has agreed to acquire up to a 74% stake in India-based animal health care services provider SeQuent Scientific for USD216m. CA Harbor Investments, an entity affiliated with CAP V Mauritius and the Carlyle Group, will acquire a majority stake in SeQuent via private share purchase agreements. The proposed transaction will trigger a mandatory open offer by CA… Read More
Capitalworks Private Equity Fund III Reaches ~USD275m Final Close
Sub-Saharan Africa-focused private equity firm Capitalworks has reached a ~USD275m final close for Capitalworks Private Equity Fund III, according to Africa Capital Digest. Morgan Stanley Alternative Investment Partners is among the fund’s institutional investors, along with a mix of domestic and international investors, high-net-worth families, and large foundations. Read More
Bain Capital to Invest USD123m in South Korean Edtech ST Unitas
Bain Capital has agreed to invest USD123m in South Korea-based edtech ST Unitas for an unspecified stake. The education startup, which acquired the Princeton Review in 2017, offers English test and civil service exam preparation courses. Read More
Taikang Leads USD113m Series B for Chinese Neurology Hospital Chain Sanbo Brain Hospital
China-based Taikang Asset Management led a USD113m Series B for China-based neurology hospital chain Sanbo Brain Hospital. Chinese investment bank CEC Capital, healthcare fund Park Road Medical Investment, Broadhi Capital, Beijing Puhong Investment Fund Management, GF Investment, and Hong Ding Capital also participated in the round. Read More
SummitView Capital Leads USD99m Series B for Chinese AI Developer Enflame
SummitView Capital led a USD99m Series B for China-based AI developer Enflame Technology, with participation from Tencent, SHIVC (a venture capital platform established by the Shanghai government), Oceanpine Capital, Redpoint Ventures China, and Delta Capital. Read More