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AP Moller, Olam, and AFC to Acquire West Africa’s ARISE Port & Logistics
AP Moller Capital has partnered with Olam International and Africa Finance Corporation (AFC) to invest in a West African ports and logistics platform managed by UK-based ARISE Ports & Logistics. AP Moller will invest via its Africa Infrastructure Fund and acquire a 43% stake in the platform, while Olam and AFC will hold 31% and 26% stakes respectively. Read more» Read More
GIC and Norfund Acquire 30% Stake in Myanmar’s Yoma Bank
Singaporean sovereign wealth fund GIC and Norwegian development finance institution Norfund have agreed to acquire a 30% stake for MMK130b (USD87.4m) in Myanmar-based Yoma Bank. Read more» Read More
Ibtikar Fund Leads Pre-Series A in Palestine Startup Gamiphy
Ibtikar Fund led an undisclosed pre-Series A investment in Palestine-based gamification startup Gamiphy with participation from Kuwait-based Al Mohallab Kuwait Real Estate Company and Al-Joud Kuwait Holding Company. Gamiphy completed the Startup Chile program in 2019. Read more» Read More
Northgate Capital and Alta Growth Acquired a Majority Stake in Mexican Autoparts Manufacturer USK
Northgate Capital and Alta Growth Capital acquired a majority equity interest in USK Urresko Holding S.A.P.I. de C.V. (“USK”), a manufacturer serving the North American heavy truck industry. Financial terms of the transaction were not disclosed. Read more» Read More
Investec Managed Emerging Africa Infrastructure Fund Provides USD31m in Financing to Africa’s Azito Energie
The Emerging Africa Infrastructure Fund (EAIF), managed by Investec Asset Management, provided EUR28m (USD 31m) in financing to Cote D’Ivoire-based Azito Energie as part of EUR330m (USD365m) round. Read more» Read More
Lateral Capital Reaches USD50m First Close for Inaugural First Sub-Saharan Africa Fund
US-based VC firm Lateral Capital reached a first close for its first sub-Saharan Africa fund with USD50m in commitments, more than double the initial closing target of USD20m. The fund targets early-stage and growth-stage startups across Africa. Read more» Read More
Polish PE Firm Avallon Reaches USD88m First Close for Third Fund
Polish private equity firm Avallon reached a USD88m first close for Avallon MBO Fund III. The fund, targeting USD143m, plans to invest in companies operating in a range of sectors, including new technologies, consumer goods, and manufacturing. Read more» Read More
B&Y Ventures and Cedar Mundi Ventures Lead USD1.2m Seed Round for Beirut Dental Startup Basma
Beirut-based digital dental startup Basma secured USD1.2m in a seed funding round led by Lebanese VC firms B&Y Venture Partners and Cedar Mundi Ventures, with participation from iSME and angel investors. The startup plans to use the funding to fund its expansion in the Middle East and North Africa. Read more» Read More
Indian B2B Marketplace Bizongo Raises USD30m Series C Led by Schroder Adveq
B2B marketplace for packaging materials Bizongo, operated by Smartpaddle Technology, raised USD30m in Series C funding led by Swiss hedge fund Schroder Adveq. B Capital, International Finance Corporation, Accel, and Chiratae Ventures also participated in the round. Read more» Read More
Tiger Global Fund XII Reaches USD3.75b Final Close
Tiger Global Management reached a final close for Private Investment Partners XII with USD3.75b in commitments. The venture fund will invest in private technology companies focusing on consumer internet, cloud, and industry-specific software globally. Read more» Read More
Croatian BPO M+ Group to Acquire Mid Europa-Owned CMC
Central and Eastern Europe focused PE firm Mid Europa Partners announced a merger of its portfolio company, CMC, a Turkey-based outsourced call centre, with M+ Group, a regional BPO provider. Mid Europa Partners received a 30% equity stake in the combined group. Read more» Read More
Radian Capital Leads USD23m Series A for Argentinian Startup Mural
Argentinian visual collaboration solutions startup Mural has received a USD23m Series A round led by growth equity firm Radian Capital, with participation from Google’s Gradient Ventures and Endeavor Catalyst. Read more» Read More