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Primavera and FountainVest to Acquire Stake in LBX from EQT for USD557 Million
China-focused private capital investors Primavera Capital Group and FountainVest Partners have acquired a 25 percent stake in China-listed retail pharmaceutical chain Laobaixing Pharmacy Chain (LBX) from global private equity fund manager EQT Partners for USD557 million. FountainVest China Capital Partners Fund III and Primavera Capital Fund III acquired a total of 71 million shares in the company, splitting them evenly.… Read More
Mediterrania Invests in Akdital
Africa-focused growth equity fund manager Mediterrania Capital Partners has agreed to invest in Akdital Holdings, a Morocco-based medical clinic operator, through Mediterrania Capital III. The group owns five multidisciplinary clinics with capacity for 550 beds in total and will use the new capital to support its expansion plans. Financial details of the transaction, which is pending regulatory approval, were not… Read More
Ethos to Restructure Brait
South Africa-focused alternative asset manager Ethos has agreed to recapitalize Brait, a South Africa- and Luxembourg-listed investment holding company, in partnership with the company’s existing shareholders. Ethos Private Equity Fund VII and Ethos’ listed vehicle Ethos Capital will invest ZAR1.35 billion (approximately USD91 million) in the company, with Fund VII contributing ZAR750 million (USD51 million) of the total amount. The… Read More
STIC Invests USD513 in ILJIN Materials Malaysia
Asia-focused private equity fund manager STIC Investments has invested KRW600 billion (approximately USD513 million) in the Malaysia unit of South Korea-based electronic components developer ILJIN Materials. ILJIN Materials Malaysia produces copper foils for use in rechargeable lithium batteries and semiconductors, and plans to use the new capital to increase the production capacity of its manufacturing plant. STIC invested through its… Read More
uLesson Secures USD3.1 Million Seed Round from TLcom
Nigeria-based education platform uLesson has secured USD3.1 million in a seed funding round led by TLcom Capital, a media and technology-focused venture capital fund manager. uLesson produces educational content for secondary schools, allowing users to access personalized learning modules, practice tests, region-specific mock tests, and performance and progress reports. The new funding will enable the company to launch in West… Read More
Crowd Analyzer Secures USD3.5 Million Series A from TechInvest, Wamda, Arzan, Faith, and Daring
UAE-based media monitoring platform Crowd Analyzer has raised USD3.5 million in a Series A investment round led by Middle East-focused private investor TechInvest. Other participants in the round include venture capital investors Wamda Capital, Arzan Capital, Faith Capital, and Daring Capital. The company analyzes publicly available data from social media and news websites, providing clients with insights on digital trends.… Read More
Ibtikar Invests in Inggez
Palestine-based fitness application Inggez has secured an investment from Middle East-focused venture capital firm Ibtikar Fund. Inggez partners with a variety of gyms and fitness studios, offering users on-demand access to fitness venues through its mobile application. The company will use the new capital to expand in Egypt and test new services with its gym partners and users. Financial details… Read More
2C2P Raises USD52 Million from IFC, Cento, and Arbor
Singapore-based digital payments platform 2C2P has raised USD52 million in new funding from global development finance institution IFC and Asia-focused venture capital investors Cento Ventures and Arbor Ventures. 2C2P operates across Southeast Asia, North Asia, the United States, and Europe, with a focus on ASEAN countries. The capital will help the company invest in new technologies and grow its team. Read More
Nexxus Exits Krispy Kreme Mexico
Mexico-focused private investment fund manager Nexxus Capital has divested its stake in Krispy Kreme Mexico, a Mexico-based subsidiary of Taco Holding, to the global brand owner Krispy Kreme Doughnut Corporation. Nexxus began investing in Taco Holding’s subsidiary restaurants in Mexico in 2011. Financial details of the transaction were not disclosed. Read More
Paytm Raises USD1 Billion from T. Rowe Price, SoftBank, Ant Financial, and Display Capital
India-based digital payments company Paytm has raised USD1 billion in an investment round led by US-based asset manager T. Rowe Price. Additional participants in the round, which reportedly values the company at USD16 billion, include the SoftBank Vision Fund, China-based online payment platform Ant Financial, and global venture capital investor Discovery Capital. Ant Financial and the SoftBank Vision Fund contributed… Read More
Heetch Secures USD42 Million Series B from AfricInvest, Cathay Capital, Total Ventures, and Others
Heetch, a France-based ride hailing mobile platform, has secured USD42 million in Series B funding for expansion in francophone Africa. Pan-African private equity and venture capital fund manager AfricInvest will contribute USD4 million to the round, adding to the USD38 million raised from Cathay Capital Private Equity, Total Ventures, Idinvest Partners, Innov’Allianz, Alven Capital Partners, Felix Capital, and Via-ID in… Read More
Patria to Sell Argo Energia for USD835 Million
Brazil-focused alternative asset manager Patria Investments has agreed to sell Argo Energia, a Brazil-based power transmission company, to Colombia-based Energía Bogotá and Spain-based Rede Eléctrica for BRL3.5 billion (approximately USD835 million). The company operates 1,400 kilometers of transmission lines, linking energy generation assets, distributors, and consumers. Patria created the business in 2016. The transaction is subject to regulatory approval. Read More