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EQT Partners Agrees to Invest USD56 Million in VBill
Global private equity fund manager EQT Partners has agreed to invest CNY378 million (approximately USD56 million) for a minority stake in VBill, a China-based third-party payment company serving small and medium-sized enterprises. EQT will invest through EQT Mid Market Asia III. The company will use the new partnership with EQT to expand into lower-tier cities, grow its customer base, and… Read More
Darby Private Equity Invests in Biopas
Darby Private Equity, the private capital arm of Franklin Templeton Investments, has completed an investment in Panama-based specialty pharmaceutical distributor Pharma Consulting Group (Biopas). The company, which offers immunology, rare disease, central nervous system, oncology, specialty care, and dermatology products across 13 countries in Latin America, will use the new capital to grow its product portfolio and expand into new… Read More
HaiHe Biopharma Raises USD147 Million
China-based pharmaceutical company HaiHe Biopharma has raised USD147 million in a funding round led by Chinese health-care-focused venture capital firm Huagai Capital. Other investors in the round include Atlas Capital, Yingke Private Equity, Hillhouse Capital, Boyuan Capital, Elite Capital, the Chinese Academy of Sciences Venture Capital Management, CSPC Pharmaceutical Group, and Daehwa Pharmaceutical. Formed through the merger of two local… Read More
I&P Reaches Second Close for I&P Afrique Entrepreneurs 2
Sub-Saharan Africa-focused impact investment group Investisseurs & Partenaires (I&P) has reached a second close for I&P Afrique Entrepreneurs 2 with EUR75 million (approximately USD85 million) in commitments. After reaching a first close in December 2017, the fund has brought on new investors including development finance institutions BIO, DGGF, and Bpifrance; French asset managers Credit Cooperatif and Mirova; and the IDA… Read More
Zilingo Secures USD226 Million from Sequoia Capital, Burda Principal Investments, Sofina, Temasek Holdings, and EDB Investments
Singapore-based fashion e-commerce platform Zilingo has secured USD226 million in a Series D funding round from existing investors Sequoia Capital, Burda Principal Investments, Sofina, and Temasek Holdings. New investor EDB Investments, the corporate investment arm of Singapore’s Economic Development Board, also joined the round. Founded in 2015, the company will use the new capital to continue to expand its supply-chain… Read More
Patria, Shell, and Mitsubishi Hitachi Power Systems Commit USD700 Million to Marlim Azul
Brazil-focused alternative asset manager Patria Investments has formed a joint venture with Shell Energy Brazil and Mitsubishi Hitachi Power Systems (MHPS) to construct the Marlim Azul thermoelectric power plant. Rights to construct the 565-megawatt plant were won at auction in December 2017 after which Patria Investments acquired a 50.1 percent stake in the project, with Shell Group holding a 29.9… Read More
Alothon Group to Acquire Majority Stake in Elétron Energy
Brazil-focused private equity firm Alothon Group has agreed to acquire a majority stake in Elétron Energy, a Brazil-based energy solutions provider, for more than BRL100 million (approximately USD27 million). The company will use the new capital and partnership to expand its power generation, consumer management, and energy trading businesses. The transaction is subject to regulatory approval. Read More
INVL Holds First Close for Baltic Sea Growth Fund at USD121 Million
Baltics-focused investment manager INVL Asset Management has held a first close for INVL Baltic Sea Growth Fund with EUR106 million (approximately USD121 million) in commitments. Investors in the fund—which is anchored by the European Investment Fund—include pension funds managed by INVL and Estonian asset manager LHV. The fund, which aims to raise a total of EUR200 million (USD228 million) in… Read More
TPG Closes Asia Fund VII with USD4.6 Billion in Commitments
Global alternative asset manager TPG has closed TPG Asia Fund VII with USD4.6 billion in capital commitments. Investors in the fund include CalPERS, Teacher Retirement System of Texas, Autorité des Marchés Financiers (AMF), New Mexico State Investment Council, NH Financial Group, and Korea Investment & Securities. Lexington Partners also committed capital to the new fund in conjunction with a tender… Read More
Savant Reaches First Close for First Venture Fund with Backing from SA SME Fund
South Africa-focused technology incubator Savant has reached a first close for its debut venture fund, which will invest in technology hardware businesses. SA SME Fund, an impact-focused investment vehicle backed by 48 Johannesburg Stock Exchange-listed companies, committed ZAR100 million (approximately USD7 million) to the venture fund and an additional ZAR10 million (approximately USD730,000) to a parallel seed fund. Half of… Read More
Actis to Exit Atlantic Energias Renováveis
Growth markets investor Actis has agreed to exit Atlantic Energias Renováveis, a Brazil-based renewable energy generation and distribution company, to China General Nuclear Power Group. Actis originally invested in the company, which manages 642 megawatts of installed wind power capacity, in 2013 through Actis Energy 3. Financial details of the transaction were not disclosed. Read More
3one4 Capital Reaches First Close of USD21 Million for Continuum Fund
India-focused venture capital firm 3one4 Capital has reached a first close for its Continuum fund with INR1.5 billion (approximately USD21 million) in commitments. Investors in the firm’s third vehicle include a US-based university endowment and Japanese diversified conglomerate Sojitz Corporation. The fund, which aims to raise a total of INR3.5 billion (USD49 million) in commitments, will invest in 3one4’s existing… Read More