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VIG Partners Agrees to Sell HiParking to Humax for USD140 Million
Korea-focused private equity fund manager VIG Partners has agreed to sell HiParking, a Korea-based manager of car parks, to Humax, a Korea-based consumer electronics manufacturer, for KRW170 billion (approximately USD140 million). VIG, which reportedly expects the exit to generate a 3.2x return multiple, initially invested KRW27 billion (USD24 million) for an 83 percent stake in HiParking in April 2016, followed… Read More
Tamela Capital Partners Raises USD27 Million for First Close of Tamela Mezzanine Debt Fund 1
Africa-focused private investment fund manager Tamela Capital Partners has reached a ZAR420 million (approximately USD27 million) first close for Tamela Mezzanine Debt Fund 1. The fund seeks to finance mid-market companies with ticket sizes between ZAR50 million (USD3 million) and ZAR150 million (USD10 million). Tamela will primarily invest in South Africa but can also invest in Botswana and other countries… Read More
DSG Consumer Partners Closes Third Fund at USD65 Million
DSG Consumer Partners, an India- and Southeast Asia-focused early-stage venture capital firm, has achieved a final close of USD65 million for DSG Consumer Partners III. Investors in the fund include Verlinvest, which was also an anchor investor in DSG’s second fund, as well as family offices and other institutional investors from Europe, Asia, and the United States. The fund will… Read More
Kaszek Ventures Closes Two New Funds with USD600 Million in Total Commitments
Latin American venture capital firm Kaszek Ventures has reached final closes of USD375 million for the firm’s fourth early-stage fund Kaszek Ventures IV and USD225 million for Kaszek Ventures Opportunity I, which will target later-stage companies. Investors in both funds include university endowments, foundations, and local and global entrepreneurs. The firm last raised USD200 million for Kaszek Ventures III in… Read More
IFC and IFC AMC Sell Stake in Ecobank to Arise
Africa-focused financial services investment company Arise has acquired a 14.1 percent stake in pan-African banking group Ecobank Transnational from IFC and IFC Asset Management Company (AMC). IFC AMC first invested in Ecobank through the IFC African, Latin American and Caribbean Fund and IFC Capitalization Fund in 2010. Financial details of the transaction were not disclosed. Read More
Romania’s Consiliul Concurenței Approves Innova Capital’s Acquisition of Optiplaza
Romania’s Consiliul Concurenței has approved Central Europe-focused private equity firm Innova Capital’s acquisition of a 100 percent stake in Optiplaza, a Romania-based optical goods retailer operating under the Optiplaza and Optica Express brands. Innova plans to improve the company’s offerings and expand its current retail network. Financial details of the transaction, which was first announced in July 2019, were not… Read More
ISSF and Ibtikar Fund Invest in Mecal
Jordan-based product design and e-commerce company Mecal has received funding from Middle East-focused venture capital firm Ibtikar Fund and Jordan-focused government-backed vehicle the Innovative Startups and SMEs Fund (ISSF). Mecal designs, produces and retails men’s accessories and intends to use the capital to scale up its consumer base. Financial details of the transaction were not disclosed. Read More
LGT Group Acquires Impact Investor Aspada from Soros Economic Development Fund
LGT Group, a global bank and alternative investment fund manager, has acquired India-focused impact investment firm Aspada from the Soros Economic Development Fund. Aspaga will join LGT’s existing impact investing arm, LGT Lightstone, to form Lightstone Aspada in India. LGT Lightstone will continue to focus on investment opportunities in Asia, Africa, and Latin America that address the needs of people… Read More
Pet Doctor Secures USD18 Million Investment from Fosun International
China-based pet services platform Pet Doctor will receive CNY130 million (USD18 million) in funding from Chinese investment group Fosun International. Pet Doctor intends to use the fresh capital to expand its nationwide sales network. Previous backers of the company include CICC Capital, Puhua Capital, and Probing Venture Capital. Read More
KKR and GGV Lead USD85 Million Investment in Huohua Siwei
Global alternative investment manager KKR and Asia- and North America-focused venture capital firm GGV Capital have led a USD85 million investment in Huohua Siwei, a China-based online education platform. Other investors in the round include fund managers Sequoia Capital, IDG Capital, Northern Light Venture Capital, Hike Capital, Lightspeed Venture Partners, and GSR Ventures, as well as an investment unit of… Read More
Anthem Asia Invests USD1 Million in Shan Orchard Myanmar
Myanmar-focused private equity firm Anthem Asia has invested USD1 million in Shan Orchard Myanmar, a Myanmar-based grower and processor of avocados. Shan Orchard reportedly represents the first investment from Anthem’s Myanmar SME Venture Fund, which achieved a first close of USD34.5 million in August 2018. Read More
Haldiram Bhujiawala Acquires Majority Stake in Pan India Food Solutions from Everstone Capital
Haldiram Bhujiawala, the eastern India arm of India-based snack foods producer Haldiram, has acquired all brands of India-based restaurant operator Pan India Food Solutions from Everstone Capital, an India-focused private equity firm. Everstone established Pan India Food Solutions, which operates under the Blue Foods brand, to house its India franchise business of coffee chain The Coffee Bean & Tea Leaf… Read More