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L Catterton-Backed Marubi Raises USD122 Million in IPO
China-based cosmetics and skin care products supplier Guangdong Marubi Biotechnology has raised CNY841 million (approximately USD122 million) in its initial public offering (IPO) on the Shanghai Stock Exchange. The company sold 41 million shares at a price of CNY20.5 per share (USD2.98) in the offering. Marubi is backed by global consumer-focused private equity fund manager L Catterton, which did not… Read More
Bounce Raises USD72 Million in Series C Funding Round
India-based scooter rental company Bounce has secured USD72 million in a Series C funding round led by global venture investor B Capital Group and alternative asset manager Falcon Edge Capital. Other participants in the round include Sequoia Capital, Accel Partners, Chiratae Ventures, Qualcomm Ventures, Maverick Ventures, and Omidyar Network. Bounce, which provides electric bike and scooter rental services across 17… Read More
AfricInvest Invests USD3 Million for Additional Stake in Britam
Africa-focused private equity fund manager AfricInvest has acquired an additional 3 percent stake in Nairobi Stock Exchange-listed financial services group Britam for KES273 million (approximately USD3 million), bringing its total stake in the company to 18 percent. Britam provides insurance, banking, and asset management services across Eastern and Southern Africa. AfricInvest originally acquired a 14 percent stake in the company… Read More
Hansoh Pharma Completes USD1 Billion Hong Kong IPO
Hansoh Pharmaceuticals, a China-based drug developer, has completed its initial public offering on the Hong Kong Stock Exchange, selling 551 million shares at HKD14.26 per share, generating gross proceeds of HKD7.9 billion (approximately USD1 billion). Existing private investors Boyu Capital and Hillhouse Capital retained their stakes of 3.29 percent and 2.91 percent, respectively, in the company and participated as cornerstone… Read More
Asia Partners Achieves USD70 Million First Close on Debut Fund
Southeast Asia-focused private equity firm Asia Partners Fund Management has reached a first close for its debut fund with approximately USD70 million in commitments. The fund will focus on providing growth capital to Southeast Asian technology companies in sectors such as travel, e-commerce logistics, and enterprise software. The expected ticket size for investments will be between USD20 million and USD100… Read More
Old Mutual to Acquire Majority Stake in Footgear
Old Mutual Private Equity (OMPE), a division of Africa-focused asset manager Old Mutual Alternative Investments, has agreed to acquire a majority stake in South Africa-based shoe retailer Footgear. Founded in 2001, Footgear sells its branded footwear in 63 stores across South Africa. The investment will provide Footgear with strategic support, as well as expansion capital. Financial details of the transaction,… Read More
MITC Capital Exits Ma-Navette to Glen Invest
Morocco-focused venture capital fund manager MITC Capital has sold its stake in on-demand transportation services provider Ma-Navette to Glen Invest, a Morocco-focused investment holding company. MITC originally invested in Ma-Navette, which manages a fleet of 130 vehicles in Morocco, in 2015 through Maroc Numeric Fund. Financial details of the transaction were not disclosed. Read More
ECP Acquires Stake in Inter Africa Transport Forex
Pan-African private equity fund manager Emerging Capital Partners (ECP) has agreed to acquire a majority stake in Mauritius-based Inter Africa Transport Forex through its fourth flagship fund. The financial technology company provides a platform that enables transportation and shipping companies to procure, manage, and track their expenditures across 11 countries. Financial details of the transaction were not disclosed. Read More
Yanolja Raises USD180 Million from GIC and Booking Holdings
South Korea-based online travel platform Yanolja has raised USD180 million in a Series D funding round from Singaporean sovereign wealth fund GIC and online travel group Booking Holdings. Yanolja and Booking Holdings have also entered into a strategic partnership that will allow their respective customers to access both services. Previous investors in Yanolja include SkyLake Investment, SBI Investment, and Hanwha… Read More
SoftBank Leads USD300 Million Investment in Gympass
Global telecom and technology investment group SoftBank will lead existing investors, including private equity firms General Atlantic, Atomico, and Valor Capital Group, in a new USD300 million funding round for Brazil-based fitness company Gympass. Softbank’s investment will come from the SoftBank Vision Fund, with the SoftBank Latin America Fund expected to join the deal once closing conditions have been met.… Read More
Aqua Ventures Reaches Final Close for Second RMB Fund
Aqua Ventures, a China-focused venture capital fund manager, has announced the final close of its second RMB-denominated fund. Investors include internet companies, funds of funds, government guidance funds, and high-net-worth individuals. The firm primarily makes early-stage investments in companies integrating the internet with traditional industries in sectors such as health care. Read More
KKR Agrees to Sell KCF Technologies to SKC for USD1 Billion
Global alternative investment manager KKR has agreed to sell KCF Technologies (KCFT), a South Korea-based producer of copper foils for lithium ion batteries, to SKC, an affiliate of Korean conglomerate SK Group, for KRW1.2 trillion (approximately USD1 billion). KCFT was carved out of LS Group alongside LS Automotive, a Korea-based manufacturer of interface components such as switches, displays, and lights,… Read More