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Promecap Acquires Credit Portfolio from Finterra for USD7 Million
Mexico-focused private investment firm Promecap has acquired a portion of the outstanding loan portfolio of Mexico-based agricultural bank Finterra for MXN131 million (approximately USD7 million). The transaction forms part of Finterra’s plan to divest up to 35 percent of its outstanding loan portfolio in order to generate additional liquidity. Read More
Rivigo Raises USD36 Million from Warburg Pincus and SAIF Partners
India-based logistics technology company Rivigo Services has secured USD36 million in a funding round led by global private equity fund manager Warburg Pincus. India-focused venture capital firm SAIF Partners also participated in the round. Warburg, which originally invested in the company in 2016, contributed INR1.5 billion (approximately USD21 million) of the total investment while SAIF invested the remainder. The investment… Read More
Blackstone Group to Exit Black Rhino
Global alternative asset manager Blackstone Group has agreed to exit South Africa-based energy infrastructure project developer Black Rhino Group to the company’s management team. In addition, Blackstone has sold the rights to develop the Qua Iboe power plant in Nigeria to UK-based project developer Globeleq. Blackstone originally acquired control of Black Rhino in 2014. Financial details of the transaction, which… Read More
L Catterton Invests in Femme and Grupo MYT
L Catterton has agreed to invest in Brazil-based women’s health care provider Femme – Laboratório da Mulher. The company, which offers various diagnostic and clinical services at six laboratories in Brazil, plans to partner with L Catterton to expand its network of clinics, roll out additional services, and enhance marketing efforts. Separately, L Catterton has invested in Grupo MYT, a… Read More
DPI Invests USD35 Million in IFS
Pan-African private equity fund manager Development Partners International (DPI) has invested USD35 million in African facilities management specialist International Facilities Services (IFS). The company provides catering, maintenance, laundry, and housekeeping services to clients on remote sites and will use the funds to support acquisitions and working capital requirements for existing and future projects Read More
Amethis Holds First Close for Amethis Fund II with US$349 Million in Commitments
Africa-focused investment fund manager Amethis has reached a first close for Amethis Fund II with EUR305 million (approximately US$349 million) in capital commitments. Investors in the fund include the Edmond de Rothschild Group, Ariane and Benjamin de Rothschild’s family, Madagascar-based conglomerate Axian Group and development finance institutions IFC, Proparco, Bpifrance and the EIB. Amethis Fund II will provide growth capital… Read More
Go-Jek Raises US$1 Billion in Latest Funding Round
Indonesia-based ride-hailing, delivery and personal services platform Go-Jek has reportedly raised US$1 billion as part of its Series F funding round led by corporate investors Google, JD.com and Tencent Holdings. Mitsubishi Corporation and Provident Capital also participated in the round. Go-Jek’s previous backers include private investment fund managers KKR, Warburg Pincus, the Northstar Group, Openspace Ventures, Sequoia Capital, Shunwei Capital… Read More
Partech Closes Africa Fund at US$143 Million
Global venture capital firm Partech Partners has closed Partech Africa Fund with EUR125 million (approximately US$143 million) in commitments. Investors in the firm’s inaugural Africa fund include development finance institutions the EIB, IFC, KfW, FMO and AfDB, as well as corporate investors Orange, Edenred, JCDecaux Holding, Bertelsmann, L’Oreal, Axian Group and TEXAF. The fund will primarily invest in Series A… Read More
InvAscent Closes India Life Sciences Fund III at US$250 Million, Invests in Intron Life Sciences and Strides Consumer
India-focused private equity fund manager InvAscent has closed India Life Sciences Fund III at its hard cap of US$250 million in commitments. Investors in the fund—which will provide equity growth capital to India-based pharmaceutical, health care and medical technology companies—include pension funds, endowments, family offices and funds of funds from the United States and Europe. Concurrently, InvAscent has invested in… Read More
Grin and Yellow Merge to Form Grow Mobility, Receive US$150 Million Investment
Mexico-based electric scooter startup Grin and Brazil-based dockless bike and scooter provider Yellow have merged to form Grow Mobility. The new company, which operates more than 135,000 vehicles across six countries in Latin America, has also reportedly received an investment of US$150 million from undisclosed investors to support the merger and future growth. Existing investors in the company include venture… Read More
EXEO Capital Acquires 37 Percent Stake in Jumbo Brands
Pan-African food and agriculture-focused private equity fund manager EXEO Capital has acquired a 37 percent stake in South Africa-based FMCG manufacturer Jumbo Brands. The company produces a variety of juices, coffees and snack foods and plans to partner with EXEO to grow its current product lines and acquire other businesses within the sector. EXEO invested through Agri-Vie Fund II. Financial… Read More
The Rise Fund and Elevar Equity Lead US$3.5 Million Series A Funding Round for The Better India
The Rise Fund, an impact investing fund managed by global investment firm TPG, and emerging markets-focused venture capital firm Elevar Equity have led a Series A investment round of INR250 million (approximately US$3.5 million) for content platform The Better India. The company, which publishes online news focused on positive stories of social impact, plans to use the funds to expand… Read More