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INCE Capital Reaches USD351.9 Million Final Close for Debut Fund
China-focused venture capital fund manager INCE Capital has reached a final close for its first fund with USD351.9 million in capital commitments. Investors in the fund include endowments affiliated with the University of Pittsburgh, Duke University, and Carnegie Mellon University; insurance company C.V. Starr; non-profit organizations Dietrich Foundation and Mayo Clinic; and fund of funds managers Commonfund, Unicorn Capital, Siguler… Read More
Onco Raises USD7 Million Series A from Accel, Chiratae, and Dream Incubator
India-based online cancer care company Onco has raised USD7 million in a Series A financing round from venture capital fund managers Accel Partners and Chiratae Ventures, as well as strategic consulting and investment firm Dream Incubator. Through its online platform, Onco provides cancer patients with treatment advice and connections with local health care providers, currently serving customers in 18 countries.… Read More
Tell Group Leads USD4 Million Series A for temtem
Tell Group, a private equity and corporate advisory firm focused on Europe, the Middle East, and North Africa, has led a USD4 million Series A financing round for Algeria-based ride-hailing and delivery platform temtem. The company plans to use the new capital to accelerate its growth and launch new products, including a driver procurement mobile application. temtem previously raised USD1.7… Read More
Stripe, Founders Fund, and Others Invest USD2.7 Million in Seed Round for PayMongo
Philippines-based online payments company PayMongo has raised USD2.7 million in a seed round from US-based internet company Stripe; venture capital firms Founders Fund, Soma Capital, Global Founders Capital, and Y Combinator; and angel investors including PayPal co-founder Peter Thiel and Tinder co-founder Justin Mateen. PayMongo enables local merchants to process payments through social media platforms and mobile messaging applications. The… Read More
Quona Leads USD7.5 Million Seed Financing Round for Klar
Financial services-focused venture capital fund manager Quona Capital has led a USD7.5 million seed-stage financing round for Mexico-based digital banking company Klar. Other participants in the round include venture capital firms aCrew, FJ Labs, Arc Labs, and Western Technology Investment, as well as Santander Innoventures, the corporate venture capital arm of UK-based Santander Group. Separately, Klar has also raised an… Read More
DPI and Convergence Partners Invest USD54 Million in Channel VAS
Africa-focused private equity firms Development Partners International (DPI) and Convergence Partners have invested USD54 million in Channel VAS, a UAE-based financial technology company. Channel VAS provides mobile financial, airtime credit, and data analytics services to mobile network providers and financial institutions to facilitate micro-loans. The company currently operates in over 30 countries in Africa, the Middle East, and Asia, with… Read More
Snackable Receives USD1.4 Million Seed Funding Led by Tera Ventures
Estonia- and US-based software developer Snackable AI has raised EUR1.3 million (approximately USD1.4 million) in seed funding led by Europe-focused seed-stage venture capital firm Tera Ventures. Other investors in the funding round include early-stage venture capital firm Superangel and Skype co-founder Jaan Tallinn. The company is currently developing an artificial intelligence-powered search engine that would enable users to find specific… Read More
SSG Capital Agrees to Sell Stake in FSC to Nippon Express for USD55 Million
Asia-focused private credit fund manager SSG Capital has agreed to sell a 14.6 percent stake in Future Supply Chain Solutions (FSC), the logistics subsidiary of India-listed conglomerate Future Group, to Japan-based logistics company Nippon Express for INR3.9 billion (approximately USD55 million). Through the transaction, Nippon will also acquire an additional 8.6 percent stake in FSC through the purchase of primary… Read More
Northstar Invests in Tiki and UPGen
Southeast Asia-focused private equity fund manager Northstar Group has invested in Tiki, a Vietnam-based e-commerce company. The investment is reportedly part of a USD100 million funding round with participation from venture capital firms Korea Investment Partners, STIC Investments, and Sparklabs Ventures. Separately, Northstar has invested in Vietnam-based co-working space operator UPGen. The firm reportedly invested approximately USD15 million in UPGen… Read More
Partners Group to Acquire 50 Percent Stake in EnfraGen
Global private markets investment manager Partners Group has agreed to acquire a 50 percent stake in EnfraGen, a Latin America-focused developer, owner, and operator of specialty power generation assets, from US-based industrial conglomerate Glenfarne Group. Glenfarne founded EnfraGen in 2015 and will retain a 50 percent stake in the company. EnfraGen provides thermal back-up power and baseload renewable power generation… Read More
Tell Group Reaches First Close for Tell Lebanon Infrastructure Fund
Tell Group, a private equity and corporate advisory firm focused on Europe, the Middle East, and North Africa, has reached a first close for Tell Lebanon Infrastructure Fund. The fund, which is targeting a USD100 million final close, received commitments from more than 25 investors, including the Gulf Cooperation Council, as well as family offices, individuals, and institutions from Lebanon… Read More
PC Capital Reaches First Close for Second Fund
Latin America-focused private capital firm PC Capital has reached a first close for PC Capital Development Fund II. Investors in the fund include development finance institution IFC, Mexico-focused fund of funds Fondo de Fondos, and global asset manager PineBridge Investments, among others. The fund will make equity and subordinated debt investments in Latin America-based companies in the financial services, consumer… Read More