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Uxin Secures USD230 Million from Warburg Pincus, TPG, and 58.com
China-based used-car trading platform Uxin has raised USD230 million through a convertible note issuance to investors including private equity fund managers Warburg Pincus and TPG, as well as China-based online classifieds platform 58.com. Uxin’s main offerings include a business-to-business auction platform and a consumer-focused platform providing recommendations, financing, title transfer, and delivery. The five-year notes, which carry an interest rate… Read More
Centurium Capital Raises USD1.89 Billion for Debut Fund
China-focused alternative fund manager Centurium Capital has raised USD1.89 billion in capital commitments for its debut fund. Investors in the fund include Washington State Investment Board, which committed USD200 million. The fund will invest in consumer and health care opportunities in China. Read More
Affirma Capital Leads Investment Round for Dianrong
Emerging markets-focused private equity fund manager Affirma Capital has led an investment round for China-based peer-to-peer lender Dianrong. Japan-based financial services provider Orix Group also participated in the round through its China-focused investment platform, Dahlian Financial Industry Investment Group. Previous backers of Dianrong include Aurora Ventures, Northern Light Venture Capital, Tiger Global Management, and Simone Investment Managers. Financial details of… Read More
SEAF Invests in SOS Credit
Global impact investing firm SEAF has invested in SOS Credit, a Morocco-based online financial services broker, through SEAF Morocco Growth Fund. SOS Credit will use the funds to expand its presence in Morocco and internationally. Financial details of the transaction were not disclosed. Read More
BSynchro Secures USD1 Million Investment from Berytech and Phoenician Funds
Lebanon-based insurance technology company BSynchro has raised USD1 million from Lebanon-focused venture capital firms Berytech Fund and Phoenician Funds. Founded in 2005, the company provides software development and consulting services to insurance companies in 25 countries across the Middle East and Africa. BSynchro plans to utilize this investment to further develop its core suite of products. Read More
Eos Capital Agrees to Back HEP Acquisition of Valco Pipes
Namibia-focused private capital firm Eos Capital has agreed to invest in Namibia-based water management company Heat Exchange Products (HEP) to help fund HEP’s acquisition of Valco Pipes, a Namibia-based bulk water and reticulation pipe supplier. Eos Capital previously acquired a majority stake in HEP in 2017 through Allegrow Fund. Financial details of the transaction were not disclosed. Read More
Swvl Raises USD42 Million in Funding Round
Egypt-based transportation booking company Swvl has raised USD42 million from global investors Vostok New Ventures, BECO Capital, MSA Capital, and Endeavor Catalyst in its latest funding round. Founded in 2017, Swvl offers scheduled, shared bus rides to customers in Egypt and Kenya, and will use the capital to expand operations to Nigeria and other African markets. Read More
Ethos Agrees to Invest USD13 Million in TymeBank
South Africa-focused private equity fund manager Ethos has agreed to invest ZAR200 million (approximately USD13 million) in TymeBank, a South Africa-based digital bank. Ethos will acquire an eight percent stake in TymeBank through the Ethos AI Fund. TymeBank was officially launched in February 2019 and offers low-cost transactional banking services to underserved populations exclusively through a digital platform. Read More
CMB Prime and LarrainVial Close Third Infrastructure Fund at USD400 Million
CMB Prime, a Chile-focused infrastructure investor, and LarrainVial, a Chile-based financial services firm, have reached a final close for CMB LV Infraestructura III with USD400 million in capital commitments. Investors in the fund include Chilean pension funds and insurance companies. The fund will pursue both greenfield and brownfield opportunities in the energy, transportation, water, and telecommunications sectors in Chile and… Read More
EXEO Capital Reaches USD146 Million Final Close for Agri-Vie Fund II
Pan-African private equity fund manager EXEO Capital has reached a final close for Agri-Vie Fund II with capital commitments totaling USD146 million. Investors in the fund include development finance institutions Norfund and Proparco, as well as insurance companies and foundations. Agri-Vie Fund II will make growth investments of USD5 million to USD15 million in food and agribusiness-related companies across Africa.… Read More
Bain Raises USD608 Million in Follow-On Offering of Intermédica Shares
Global private equity firm Bain Capital has partially exited its stake in Brazil-listed health care provider Grupo Notre Dame Intermédica (GNDI), generating gross proceeds of BRL2.37 billion (approximately USD608 million). Bain sold 60 million shares for BRL39.50 (approximately USD10) per share. Bain originally acquired GNDI for BRL2 billion (USD861 million) in 2014. The offering was the firm’s second follow-on share… Read More
Cathay Capital Reaches USD359 Million First Close for Second Venture Fund
Global private equity fund manager Cathay Capital Private Equity has reached a first close for its second venture fund, Cathay Innovation Fund II, with EUR320 million (approximately USD359 million) in capital commitments. Investors in the fund include Bpifrance, Groupe ADP, Groupe SEB, Michelin, and Valeo—all of which previously committed to Cathay’s first venture fund—as well as Accor, BioMérieux, Dassault, JCDecaux,… Read More