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Algebra Ventures Leads Seed Round for Egyptian Fintech Khazna with Participation from Accion Venture Lab
Middle East- and Africa-focused fund manager Algebra Ventures led a seed round for Egypt-based fintech Khazna with participation from Accion Venture Lab. The size of the investment remains undisclosed. Read More
Motilal Oswal Private Equity Invests USD32.4m in India’s Molbio Diagnostics
India-focused fund manager Motilal Oswal Private Equity has invested INR2.4b (approximately USD32.4m) in Indian molecular diagnostics manufacturer Molbio Diagnostics via its India Business Excellence Fund III. Read More
Openspace Appoints Jaclyn Seow as Vice President of ESG & Impact
Southeast Asia-focused venture capital fund manager Openspace Ventures has named Jaclyn Seow as Vice President of ESG & Impact. In this role, Jaclyn will be heading the firm’s ESG initiatives, including measuring impact, and she will be working alongside NGOs and impact organizations to drive growth in Southeast Asia. Read More
ADB Appoints Sonali Tang as Head of Newly Opened Singapore Office
Asian Development Bank has appointed Sonali Tang as the head of its new branch in Singapore, which opened on 5 March 2020. In this new role, Sonali will focus on tackling climate change, financing and building quality infrastructure, pioneering innovation in development operations, and managing urbanization. Read More
Nexxus Capital Exits El Farolito via Strategic Sale to Mexico’s Grupo Gigante
Nexxus Capital has exited Mexican taco franchise El Farolito via a sale to Mexican Stock Exchange-listed Grupo Gigante. The details of the transaction were not disclosed. Read More
FKS Group Acquires 51% Stake in Brazilian Sugar Manufacturer Tietê Agroindustrial from Proterra Investment Partners
Southeast Asia-based multinational agribusiness FKS Group has acquired a 51% stake in Brazilian sugar manufacturing company Tietê Agroindustrial from global asset manager Proterra Investment Partners which will retain 49%. Read More
China Structural Reform Fund, Guoxin Capital, and CDH Investment Lead USD190m Series A for China’s Telaidian
China state-owned PE fund China Structural Reform Fund, Guoxin Capital, and CDH Investment co-led a USD190m Series A for Chinese electric vehicle charging operator Telaidian. Read More
CITIC, CDH, and Legend Capital Invest USD300m in China’s SF Freight
CITIC Capital, CDH Investments, and Legend Capital have invested USD300m in China-based transportation service company SF Freight through a convertible note issue. If fully converted, the notes will give CITIC, CDH, and Legend stakes of 4%, 3%, and 3% respectively. Read More
SoftBank, Tencent, Hillhouse, and Sequoia Invest USD2.4b Series D+ for Chinese Online Housing Platform Beike Zhaofang
A consortium of investors including SoftBank, Tencent, Hillhouse Capital, and Sequoia Capital China have invested a USD2.4b Series D+ for Chinese real-estate brokerage platform Beike Zhaofang. SoftBank previously invested USD1b in Chinese apartment rental platform Ziroom as part of its investment strategy to move into Chinese real estate. Read More
Japan Post Capital Leads USD26.4m Investment in Singapore’s AnyMind Group
Japan Post’s corporate venture arm led a USD26.4m investment in Singapore-based marketing technology startup AnyMind Group. Existing investor Mirai Creation Fund II also participated in the investment. Read More
Quona Capital Reaches USD203m Final Close for Fund II
Quona Capital closed its second fund with USD203m in commitments. The fund’s anchor investor, sponsor, and general partner is Accion and the capital will be used to target financial inclusion startups in emerging markets. Read More
IFC Leads USD337.7m Financing Round for Ivorian Power Plant Project
International Finance Corporation is the lead arranger for a EUR303m (approximately USD337.7m) debt financing package for Atinkou, a natural gas-fired power project in Côte d’Ivoire. The African Development Bank (AfDB), the Dutch development finance institution FMO, Germany’s Deutsche Investitions und Entwicklungsgesellschaft (DEG), the Emerging Africa Infrastructure Fund, and the OPEC Fund for International Development also participated. Read More