Industry News – Page 355

Amethis Reaches USD425 Million Final Close for Fourth Fund

Africa-focused private investment fund manager Amethis has reached a final close for Amethis Fund II with EUR375 million (approximately USD425 million) in capital commitments. Investors in the fund include the Edmond de Rothschild Group, the family of Ariane and Benjamin de Rothschild, Madagascar-based conglomerate Axian Group, and development finance institutions Bpifrance, EIB, IFC, Proparco, and DEG. The fund will make… Read More

Aavishkaar Exits Jaypore E-Commerce and Utkarsh Coreinvest

outh- and Southeast Asia-focused early-stage impact investor Aavishkaar will exit its stake in Jaypore E-Commerce, an India-based retailer of clothing, handicrafts, and accessories, to Aditya Birla Fashion and Retail (ABFRL). ABFRL has agreed to acquire 100 percent of Jaypore at an enterprise value of INR1.1 billion (approximately USD16 million). Separately, Aavishkaar has also made a partial exit from its investment… Read More

Innova Capital to Purchase Majority Stake in CS Group Polska

Central Europe-focused private equity firm Innova Capital will purchase a majority stake in Poland-based digital marketing services company CS Group Polska, pending final negotiations. This investment will be the fourth made by Innova’s Innova/6 fund since it began investing in April 2018. Financial details of the transaction, which is subject to regulatory approval, were not disclosed. Read More

Sinovation Achieves USD362 Million Final Close for Latest RMB Fund

China-focused venture capital firm Sinovation Ventures has reached a final close for its latest RMB-denominated fund with CNY2.5 billion (approximately USD362 million) in capital commitments. The fund was reportedly launched in May 2018 in cooperation with the Guangzhou government. The fund will target early- and growth-stage investments in artificial intelligence, big data, education, consumer, and business-to-business service companies. Read More

Advent Reaches USD17.5 Billion Final Close for Ninth Global Fund

Global private equity fund manager Advent International has reached a final close for GPE IX with USD17.5 billion in capital commitments. GPE IX reportedly surpassed its initial target of USD16 billion. The fund will invest primarily in Europe and North America, as well as selectively in Asia and Latin America. It will target buyout and growth equity investments across a… Read More

Sinovation Achieves USD362 Million Final Close for Latest RMB Fund

China-focused venture capital firm Sinovation Ventures has reached a final close for its latest RMB-denominated fund with CNY2.5 billion (approximately USD362 million) in capital commitments. The fund was reportedly launched in May 2018 in cooperation with the Guangzhou government. The fund will target early- and growth-stage investments in artificial intelligence, big data, education, consumer, and business-to-business service companies. Read More

ivi Raises USD40 Million from RDIF, Mubadala, Baring Vostok, Flashpoint, RTP Global, and Winter Capital (

A consortium of investors including the Russian Direct Investment Fund (RDIF), Mubadala Investment Company, Baring Vostok Capital Partners, Flashpoint, RTP Global, and Winter Capital have agreed to invest USD40 million in Russia-based online streaming video company ivi. The company aims to use the new funding to develop its own original video content and grow its consumer base. The transaction is… Read More

Gaorong Capital-Backed GSX Techedu Raises USD208 Million in IPO

China-based online education services company GSX Techedu has raised USD208 million in its initial public offering (IPO) on the New York Stock Exchange. The company sold 20 million American Depositary Shares (ADS), with 3 ADSs representing 2 Class A ordinary shares, at a price of USD10.50 per ADS in the offering. GSX is backed by China-focused venture capital fund manager… Read More

Mid Europa Agrees to Sell Knjaz Miloš to KMV and PepsiCo

Central and Eastern Europe-focused private equity fund manager Mid Europa Partners has agreed to sell Knjaz Miloš, a Serbia-based beverage producer, to Czech Republic-based bottled water company Karlovarské Minerální Vody (KMV) and multinational food and beverage corporation PepsiCo. Mid Europa acquired a majority stake in Knjaz Miloš in 2015. Financial details of the transaction, which is subject to customary competition… Read More

SoftBank Vision Fund Leads USD100 Million Investment in Loggi

The SoftBank Vision Fund, a private investment fund managed by Japan-based technology conglomerate SoftBank, has led a USD100 million investment in Loggi, a Brazil-based logistics and delivery company. Other participants in the funding round include venture capital firms GGV Capital and Fifth Wall Ventures, investment management firm Velt Partners, and strategic investor Microsoft. This transaction reportedly values Loggi at USD1… Read More

Gaorong Capital-Backed GSX Techedu Raises USD208 Million in IPO

China-based online education services company GSX Techedu has raised USD208 million in its initial public offering (IPO) on the New York Stock Exchange. The company sold 20 million American Depositary Shares (ADS), with 3 ADSs representing 2 Class A ordinary shares, at a price of USD10.50 per ADS in the offering. GSX is backed by China-focused venture capital fund manager… Read More

Helios and EAEF Acquire Majority Stake in Misr Hytech

Africa-focused private investment firm Helios Investment Partners and the Egyptian-American Enterprise Fund (EAEF), a United States government-backed investment vehicle managed by Lorax Capital Parters, have acquired a 96.7 percent stake in Misr Hytech Seed International, an Egypt-based producer of agricultural seeds. The company develops and produces hybrid seeds of white corn, yellow corn, grain and fodder sorghum, sweet corn, and… Read More