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KIPCO Leads USD8.4m Series A for Dubai Fintech Sarwa
Investment holding company Kuwait Projects Company (KIPCO) led a USD8.4m Series A in Dubai-based investment advisory platform Sarwa. The Dubai International Financial Center, Abu Dhabi Investment Office, Vision Ventures, Phoeanician Funds, and Mindshift Capital also participated in the round. Read more» Read More
J.P. Morgan Launched Development Finance Institution to Target Emerging Markets
J.P. Morgan announced the creation of the J.P. Morgan Development Finance Institution (DFI) to expand its development-oriented financing activities in emerging markets. Read more» Read More
Baring Asia Closes USD6.5b Pan-Region Fund
Hong Kong-based Baring Private Equity Asia closed Fund VII with commitments of USD6.5b with the majority of the capital coming from pension funds and sovereign wealth funds. The Asia-focused fund will target health care, education, IT services & software, business services, financial services, consumer, and advanced manufacturing sectors. Read more» Read More
Lever VC Leads Investment for Singapore’s Biotech Startup TurtleTree Labs
US- and Hong Kong-based venture fund Lever VC made an undisclosed pre-seed investment in TurtleTree Labs, a Singaporean company working with biotechnology to create the full nutritional content of milk. KBW Ventures and K2 Global participated in the round. Read more» Read More
Greycroft and eVentures Lead USD35m Series B for African Fintech Flutterwave
Greycroft and eVentures led a USD35m Series B in Flutterwave, a Nigerian payments fintech headquartered in California, with participation from Visa, Green Visor, CRE Venture Capital, Worldpay FIS, and Endeavor Catalyst. Flutterwave also signed commercial partnerships with Visa and FIS. Read more» Read More
Chiratae Ventures and Desai Family Office Invest USD6m Series A in Kristal Advisors
Kristal Advisors, which operates Singapore-based digital asset management platform Kristal.Al, has raised USD100m Series A round led by India-focused venture capital firm Chiratae Ventures and Desai Family Office. Read more» Read More
Sovereign Fund of Egypt (TSFE) Establishes USD63.5m Fund Managed by Actis
The Sovereign Fund of Egypt (TSFE) and global growth market investor Actis have signed a memorandum of understanding (MOU) to help attract and steer private investment into Egypt and to cooperate in energy and infrastructure projects. The fund has a paid-in capital of EGP1b (USD63.5m). Read more» Read More
Emirates Investment and Development Center and i-Cell Telecom Group Invest USD1.4m in Seed Round for Lorryz
Emirates Investment and Development Center and i-Cell Telecom Group made a USD1.4m investment in Dubai-based online freight marketplace Lorryz. Read more» Read More
Dubai Cultiv8 Invests in Dubai Delivery Startup Fodel
Dubai Cultiv8, a wholly-owned subsidiary of Mohammed Bin Rashid Fund for SMEs, made an undisclosed investment in Dubai-based last-mile delivery startup Fodel. Read more» Read More
Enterprise Investors Exits Polish Construction Company Danwood via Sale to South Korea’s GS Engineering and Construction for USD155.2m
Central and Eastern European private equity fund Enterprise Investors sold prefabricated house manufacturer Danwood to Korean construction company GS Engineering and Construction for EUR140m (USD155.2m). According to Enterprise Investors, the total gross proceeds generated by the investment amount to EUR238m (USD264m), yielding a 9x total gross multiple of cost. Read more» Read More
CDC Commits USD39.2m to PE Funds Verod and Adiwale to Target West African SMEs
UK development finance institution CDC Group has announced the commitment of USD39.2m to Verod Fund III and Adiwale Fund I, West Africa-based private equity funds targeting SMEs in the region, with commitments of USD19.2m and USD20m respectively. Read more» Read More
African Infrastructure Investment Managers Invests USD54m in Savannah Petroleum Gas Assets in Nigeria
African Infrastructure Investment Managers (AIIM) invested USD54m from its pan-African infrastructure fund AIIF3 in two Nigerian gas assets from Savannah Petroleum, a UK-based oil & gas company. AIIM now has a 20% minority stake in gas field Seven Uquo Gas and a 20% minority stake in Accugas, which handles infrastructure for processing and distribution of Uquo. Read more» Read More