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KKR to Acquire and Recapitalize Svakarma Finance
Global alternative investment manager KKR has reportedly committed USD50 million to purchase a controlling stake in and recapitalize Svakarma Finance, an India-based impact-focused non-banking financial company. Svakarma lends to micro-, small-, and medium-sized enterprises in semi-urban and rural areas. Read More
General Atlantic Leads Investments in Nobroker and Kiwi.com
Global growth equity fund manager General Atlantic has led a USD51 million Series C investment in India-based real estate services company Nobroker. Asia-focused private equity and venture capital firms SAIF Partners and BEENEXT also participated in the funding round. Through its digital platform, Nobroker provides end-to-end rental and trading services to property owners and prospective tenants. The company plans to… Read More
EV Growth Reaches USD200 Million Final Close for First Fund
EV Growth, a Southeast Asia-focused technology-oriented growth capital joint venture established by East Ventures, Sinar Mas Digital Ventures, and Yahoo Japan’s corporate venture capital arm YJ Capital, has reached a final close for its first fund with USD200 million in commitments. Investors in the fund include SoftBank Group, Pavilion Capital, and Indies Capital. EV Growth has reportedly already deployed 40… Read More
DPI, Ethos, Capital Group, and SCPE to Exit Eaton Towers in USD1.85 Billion Sale to ATC
Private equity fund managers Development Partners International (DPI), Ethos Private Equity, Capital Group Private Markets, and Standard Chartered Private Equity (SCPE) have agreed to exit Africa-focused mobile telecom tower company Eaton Towers to American Tower Corporation (ATC), a United States-listed communications infrastructure company, at an enterprise value of USD1.85 billion. DPI first invested in Eaton Towers in 2008 while Capital… Read More
Crescera and 2bCapital Agree to Invest in Semantix
Brazil-focused alternative asset manager Crescera Investimentos and 2bCapital, the private equity arm of Brazil-based financial services company Bradesco, have agreed to invest in Brazil-based information technology company Semantix. Through the transaction, Crescera and 2b Capital will acquire 29 percent and 15 percent stakes, respectively, in the company. Semantix provides consulting and support services related to data science, machine learning, and… Read More
3TS and Neo Ventures Invest in NEXD
Estonia-based advertising technology company NEXD has received funding from European technology-focused growth capital investor 3TS Capital Partners and Neo Ventures, an Eastern Europe-focused early-stage investor. The company, which has a self-service platform enabling clients to generate ads within five minutes, will use its new capital and partnership to further improve clients’ ad performance and expand to new markets. Financial details… Read More
Apis- and Crossfin-led Consortium Acquires Sureswipe
A consortium led by Africa-focused financial services investors Apis Partners and Crossfin Technology Holdings has acquired Sureswipe, a South Africa-based payments platform. The company will be consolidated along with two other South African-based payments platforms under a new entity known as Crossfin Transactional Solutions (CTS). CTS will aim to utilize each brand’s expertise to expand its market reach to micro-merchants,… Read More
Samunnati Raises USD55 Million from Nuveen, Elevar, responsAbility, and Accel
India-based agriculture-focused financial services provider Samunnati Financial & Intermediation Services has raised INR3.9 billion (approximately USD55 million) in a Series D funding round led by Nuveen, the investment management arm of Teachers Insurance and Annuity Association of America (TIAA). Existing investors Elevar Equity, responsAbility Investments, and Accel Partners also participated in the round. Sumannati supports smallholder farmers through financial intermediation,… Read More
Bain to Invest USD570 Million in Beijing Qinhuai Technology
Global private equity firm Bain Capital has agreed to invest USD570 million in China-based data center developer and operator Beijing Qinhuai Technology. In addition to data center planning, design, construction, and operation, the company provides network and IT support services to clients. Bain will provide the company with strategic support and help in obtaining new channels of financing through the… Read More
Carlyle to Exit Medanta to Manipal Hospitals
India-based hospital network Manipal Hospitals has agreed to acquire Medanta, a multi-specialty hospital chain also based in India, for INR58 billion (approximately USD835 million). The transaction will provide an exit for global alternative asset manager The Carlyle Group. Singaporean sovereign wealth fund Temasek Holdings, an investor in both Manipal and Medanta, will reportedly partially fund the acquisition along with global… Read More
Gulf Capital Acquires 70 Percent Stake in Medica
Middle East- and Africa-focused alternative investment firm Gulf Capital has acquired a 70 percent stake in Medica Holding, a United Arab Emirates-based provider of aesthetic, cosmetic, and dermatological equipment and products. The company’s services include consulting, education, logistics, and marketing across four verticals: equipment, medical injectables, cosmeceuticals, and para-pharmaceuticals. Medica will partner with Gulf Capital to expand into new geographies… Read More
Vinci Partners Exits Cecrisa to Duratex
Brazil-focused alternative investment fund manager Vinci Partners has exited Brazil-based ceramic tile manufacturer Cecrisa to Duratex, a wood panel producer also based in Brazil. Duratex will acquire the company from Vinci and other shareholders for BRL539 million (approximately USD132 million). Cecrisa operates three plants with 1,700 employees. The transaction is subject to regulatory approval. Read More