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EMPEA Announces Gender Initiatives Aimed at Measuring and Improving Gender Equality Within the Private Capital Industry
Washington, DC, 8 March 2019: EMPEA, the global industry association for private capital in emerging markets, today announced its 2019 gender initiatives in conjunction with International Women’s Day. The initiatives will be led by the Gender Parity Acceleration Working Group of the EMPEA ESG Community. The Working Group is comprised of investment practitioners from EMPEA member firms who are committed… Read More
WM Motor Raises USD447 Million in Series C Round Led by Baidu
China-based electric vehicle manufacturer Weltmeister Motor (WM Motor) has raised CNY3 billion (approximately USD447 million) in a Series C round led by Baidu, a China-based internet company. China-focused venture capital firm Linear Venture and government-backed asset management company Taihang Industrial Fund also invested in the round. WM Motor plans to use the new capital for the research and development of… Read More
Boyu Capital Reaches Final Close of USD3.6 Billion for Fourth Fund
China-focused growth equity fund manager Boyu Capital has reached a final close for its USD-denominated fourth fund with USD3.6 billion in capital commitments. Investors in the fund include Singaporean sovereign wealth funds GIC and Temasek Holdings, Chinese businessman Li Ka-shing, family offices, and pension funds, including New York Common Retirement Fund, which committed USD40 million. Read More
MSA Capital Reaches First Close of USD197 Million for Second Fund
China-focused venture capital fund manager MSA Capital (formerly known as Magic Stone Alternative Investment) has reached a first close for MSA China Fund II with USD197 million in capital commitments. The fund received commitments from 13 investors and is targeting a final close of USD250 million in total commitments. MSA Capital invests in new technology areas including artificial intelligence, genomics,… Read More
Softbank Leads Series F of USD395 Million for Delhivery
India-based e-commerce logistics platform Delhivery has raised USD395 million in a Series F funding round led by Japan-based technology and investment group SoftBank. Global alternative asset management firm The Carlyle Group and China-based conglomerate Fosun International also participated in the round, which reportedly values Delhivery at USD1.6 billion. SoftBank invested USD350 million for a 23 percent stake in the company,… Read More
United Overseas Bank Leads USD65 Million Series B for Halodoc
Indonesia-based digital health services company Halodoc has raised USD65 million in a Series B funding round led by UOB Venture Management, the direct equities arm of Singapore-based financial services group United Overseas Bank. Other investors in the Series B include private equity fund manager Korea Investment Partners, China-based health care group WuXi Apptec, and Singtel Innov8, the venture capital arm… Read More
Cauris Management Exits BPEC
West Africa-focused private equity fund manager Cauris Management has sold its stake in Togo-based Banque Populaire pour l’Epargne et le Crédit (BPEC) to African financial services company SUNU Group. Cauris originally invested in BPEC, which currently has 27 branches across Togo, in 2010 through Cauris Croissance and completed a follow-on investment in 2015. Financial details of the transaction were not… Read More
Accion Invests in Destacame and SME Corner
Accion Venture Lab, the seed-stage investment initiative of financial inclusion-focused investment firm Accion, has participated in the USD3 million Series A investment round for Destacame, a Chile-based personal financial management platform. Latin America-focused venture capital firms Fen Ventures and Mountain Nazca also participated. Destacame will use the new funds to continue to develop its financial management products and expand operations… Read More
The Craftory Leads USD30 Million Investment in NotCo
The Craftory, a permanent capital firm investing in early- and growth-stage consumer brands, has led an investment of USD30 million in NotCo, a Chile-based technology business that develops plant-based alternatives to animal-derived food products. Other participants in the funding round include Jeff Bezos’s family office Bezos Expeditions, Latin America-focused venture capital firm Kaszek Ventures, and accelerator program IndieBio. NotCo will… Read More
Gobi Partners and Sonae IM Co-Lead USD20-Million Series C Round for ViSenze
Singapore-based artificial intelligence company ViSenze has raised USD20 million in a Series C funding round led by Asia-focused venture capital firm Gobi Ventures and Sonae IM, the technology investment arm of Sonae Group. Other participants in the round include existing investors Rakuten Ventures, WI Harper, Singapore Press Holdings Ventures, Raffles Venture Partners, Enspire Capital, and UOB Venture Management, as well… Read More
Inside Capital Agrees to Provide USD7.5 Million in Financing to Latitude Hotels Group
Southeast Africa-focused private equity fund manager Inside Capital Partners has agreed to provide USD7.5 million in mezzanine financing to Sub-Saharan Africa-based hospitality chain Latitude Hotels Group. Inside Capital will invest from its first fund, Inside Equity Fund. Latitude Hotels Group, which operates three hotels in Malawi, Zambia, and Uganda, intends to use the capital to develop three new branches in… Read More
Bain Capital Leads Acquisition of Xiamen Qinhuai Technology for USD146 Million
Global private equity firm Bain Capital has acquired a majority stake in China-based data center developer and operator Xiamen Qinhuai Technology for CNY990 million (approximately USD146 million) from parent company NetScience Technology. The deal also reportedly includes an additional CNY300 million (approximately USD44 million) investment from three NetScience executives. Qinhuai plans to use the partnership with Bain and new funds… Read More