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Verod Capital Agrees to Acquire Metropolitan Life Nigeria from Momentum Metropolitan
West Africa-focused private equity fund manager Verod Capital Management has agreed to acquire a 100 percent stake in Nigeria-based life insurance company Metropolitan Life Insurance Nigeria from South Africa- and Namibia-listed financial services group Momentum Metropolitan Holdings. Verod will acquire the company through Verod Capital Growth Fund II. Financial details of the transaction, which has received regulatory approvals, were not… Read More
Xerpa Raises USD13 Million Led by VEF
Emerging and frontier markets-focused investment firm Vostok Emerging Finance (VEF) has led a USD13 million Series B investment in Xerpa, a Brazil-based human resources and accounting services provider. Other investors in the funding round include Founders Fund, Kaszek Ventures, Redpoint e.ventures, and QED Investors. Xerpa will use the new capital to develop its on-demand salary withdrawal product Xerpay. Read More
MadeiraMadeira Receives USD110 Million Investment Led by SoftBank Group
Japan-based technology conglomerate SoftBank Group has led a USD110 million investment in Brazil-based home furnishings online retailer MadeiraMadeira. Other investors in the funding round include early-stage venture capital firm Flybridge and technology-focused investment management firm Light Street Capital. The transaction reportedly values the company between USD300 and USD500 million. Flybridge had previously invested in MadeiraMadeira in July 2012 alongside venture… Read More
Blowhorn Secures Investment from Chiratae Ventures and Others
Catbus Infolabs, an India-based company that operates commercial logistic services provider Blowhorn, has secured funding from investors including India-focused venture capital firm Chiratae Ventures, Dell Foundation, Venture Catalysts, Dream Incubator, and Sorenson Impact founder James Lee Sorenson. Through its website and mobile application, Blowhorn connects truck drivers with business customers across 30 cities in India. Financial details of the transaction… Read More
KKR Acquires 10 Percent Stake in CG Power for USD13 Million
Global alternative investment manager KKR has acquired a 10 percent stake in India-listed energy transmission and distribution company CG Power and Industrial Solutions for INR893 million (approximately USD13 million). KKR purchased the shares from Vistra ITCL, an India-based corporate trust services provider, through its non-banking financial company KKR India Financial Services and KKR India Debt Opportunities Fund II. Vistra had… Read More
TPG and Hong Leong Agree to Acquire Souheast Asia Operations of Columbia Asia Hospitals
Global alternative asset manager TPG and Malaysia-based conglomerate Hong Leong Group have agreed to acquire the Southeast Asia operations of Malaysia-based health care provider Columbia Asia Hospitals from its US-based parent company Columbia Pacific Management. TPG and Hong Leong will acquire 17 hospitals and 1 health care clinic located in Malaysia, Indonesia, and Vietnam. The transaction values the assets at… Read More
Morphosis Invests in DocProcess
Romania-focused private equity firm Morphosis Capital has acquired a significant minority stake in DocProcess, a Romania- and France-based business process automation company. The deal is reportedly the first investment from Morphosis’ debut fund. DocProcess, which operates through its cloud-based platform DocXchange, intends to deploy the new capital to expand its product offerings and partnership network. Financial details of the transaction… Read More
PAG Agrees to Invest USD300 Million in LexinFintech
China-based, US-listed consumer lending platform LexinFintech Holdings has agreed to issue USD300 million in convertible notes to Asia-focused private equity firm PAG through a private placement. Through the transaction, LexinFintech is expected to raise gross proceeds of USD264 million and will use the fresh funding to enhance its product offerings, further develop the platform’s underlying technology, and improve customer benefits.… Read More
Sky9 Capital Reaches Closes for Two Funds at Combined USD440 Million
China-focused venture capital firm Sky9 Capital has reached closes for two funds with USD440 million in combined capital commitments. Sky9 Capital Fund IV, which will invest in Series A and Series B rounds, reached a final close with USD321 million in commitments while Sky9 Capital MVP Fund, which will focus on growth stage opportunities, reached an interim close with USD119… Read More
SuperAtom Receives USD24 Million Investment Led by Gobi Partners
Southeast Asia-focused venture capital firm Gobi Partners has led a USD24 million investment in Indonesia-based low-cost financial services provider SuperAtom. Gobi invested through Meranti ASEAN Growth Fund. The company was incubated by and spun out of China-based, US-listed mobile internet company Cheetah Mobile, which also participated in SuperAtom’s latest funding round. The company, which recently launched its peer-to-peer lending platform… Read More
Actis Acquires Management of Abraaj Africa Fund II and South East Asia Fund II
Global growth markets investor Actis has acquired the management rights to two funds previously managed by emerging markets-focused private equity fund manager The Abraaj Group. Actis will take over management of Abraaj Africa Fund II and Abraaj South East Asia Fund II. Actis had previously secured management rights to two other funds formerly managed by Abraaj, Abraaj Private Equity Fund… Read More
Huimin Secures USD225 Million Investment Led by Jinan Industry Development Fund
Chinese state-owned investment firm Jinan Industry Development Fund has led a CNY1.6 billion (approximately USD225 million) investment in China-based e-commerce platform Huimin. Other participants in the funding round include the company’s existing investors Fortune Venture Capital, GP Capital, China Renaissance, and Fosun International. Huimin operates an online-to-offline retail platform that connects small-scale retailers with commercial suppliers and local customers. The… Read More