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NewQuest Asia Fund IV Reaches USD1 Billion Final Close
Asia-focused direct secondaries fund manager NewQuest Capital has reached a final close for NewQuest Asia Fund IV with USD1 billion in commitments. Investors in the fund include endowments, pension funds, sovereign wealth funds, insurance companies, financial institutions, and family offices across Asia, North America, Europe, and the Middle East. In addition to providing liquidity solutions to private equity asset owners… Read More
Vantage Exits Genser Energy
Africa-focused private credit fund manager Vantage Capital has exited its investment in Genser Energy, a US-based company that provides distributed power generation services to industrial and mining companies in Ghana. Vantage exited Genser to a consortium consisting of Africa-focused trade finance firm Barak Fund Management and South Africa-based banks Standard Bank, Nedbank, and the Development Bank of Southern Africa. The… Read More
Norwest Reaches USD2 Billion Final Close for Fifteenth Fund
Global venture capital and growth equity investment firm Norwest Venture Partners has reached a final close for Norwest Venture Partners XV with USD2 billion in capital commitments. The fund will make seed-to-late-stage investments in consumer, enterprise, and health care companies based in North America, India, and Israel. Read More
PanJam and Portland Private Equity to Acquire Minority Stakes in itelbpo
Jamaica-focused investment holding company PanJam Investment and Caribbean-focused fund manager Portland Private Equity have agreed to each acquire a 15 percent stake in Outsourcing Management, a Jamaica-based business process outsourcing company operating under the brand itelpo. The company offers voice and digital contact center and customer experience management services in Jamaica, the Bahamas, Mexico, and the US. itelbpo will use… Read More
Actis and Africa50 Invest in Tobene Power Plant
Global growth markets investor Actis, through its Azura Power platform, and Africa-focused infrastructure investor Africa50 have completed an investment in Senegal-based Tobene Power. The 115-megawatt Tobene Power plant was previously part of the development portfolio of Lebanon-based Melec Power Gen (MPG). Actis and Africa50 plan to convert the Tobene plant from heavy fuel oil to gas and to invest in… Read More
Xpeng Secures USD400 Million Series C Round Led by Xiaomi
China-based electric vehicle manufacturer Xpeng Motors has secured USD400 million in a Series C financing round led by China-based electronics producer Xiaomi. Other investors in the funding round reportedly include the company’s existing shareholders, such as venture capital fund managers Morningside Ventures and Matrix Partners. The company, which recently released the 2020 model of its G3 smart SUV vehicle, will… Read More
Primavera Capital Reaches USD3.4 Billion Final Close for Latest USD Fund
China-focused private equity firm Primavera Capital Management has reached a final close for Primavera Capital Fund III with USD3.4 billion in capital commitments. Investors in the fund include Taiwan Life Insurance and US-based pension funds Pennsylvania State Employees’ Retirement System, New York State Teachers’ Retirement System, and Texas Permanent School Fund State Board of Education. The fund will make growth… Read More
Helios to Partially Exit Interswitch to Visa
US-based global payments company Visa has agreed to acquire a minority stake in Nigeria-based digital payments processing and switching services provider Interswitch, facilitating a partial exit for Africa-focused private equity fund manager Helios Investment Partners. Helios originally invested in the business in 2010 and sold a partial stake to global growth equity firm TA Associates in March 2017. Financial details… Read More
Windrose Reaches USD30 Million First Close for Debut Fund
India-focused venture capital firm Windrose Capital has reached a first close for The Next Billion Fund with USD30 million in capital commitments. Investors include individual entrepreneurs operating in a variety of industries. The fund has already reportedly completed three investments and will target seed and early-stage funding rounds for companies in financial services, supply chain, and business services verticals. Read More
STV Leads USD23 Million Series A Round for TruKKer
Middle East- and North Africa-focused venture capital firm Saudi Technology Ventures (STV) has led a USD23 million Series A investment in TruKKer, a UAE-based digital trucking logistics platform. Other participants in the funding round include development finance institution IFC; Middle East-focused investment firm Alturki Holding; and private equity and venture capital investors Iliad Partners, Royad Taqnia Fund, Oman Technology Fund,… Read More
MSPEA-Backed Feihe Raises USD856 Million in IPO
China-based baby formula producer China Feihe has raised HKD6.7 billion (approximately USD856 million) in its initial public offering (IPO) on the Hong Kong Stock Exchange. The company sold 893 million shares at a price of HKD7.50 (USD0.96) per share. Investors in Feihe include Asia-focused private equity investor Morgan Stanley Private Equity Asia (MSPEA), which backed a management buyout and delisting… Read More
ECP to Partially Exit Oragroup, Establish AEH with DFIs
Pan-African private equity fund manager Emerging Capital Partners (ECP) has agreed to partially exit its stake in BRVM-listed, pan-African financial services provider Oragroup as part of Côte d’Ivoire-based Caisse Générale de Retraite des Agents de l’Etat (CGRAE)’s acquisition of a 61.45 percent stake in the company. ECP originally acquired Oragroup in 2009 and will retain a 20 percent stake in… Read More