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I&P Exits Delta Irrigation and Conergies
Sub-Saharan Africa-focused impact investing group Investisseurs & Partenaires (I&P) has completed exits from two portfolio companies from its 2012-vintage I&P Afrique Entrepreneurs I fund. Agricultural companies Kulker and Bernegal acquired I&P’s stake in Senegal-based irrigation equipment manufacturer Delta Irrigation. A portion of I&P’s shares were also sold to the director of Delta in Côte d’Ivoire. Separately, I&P sold its stake… Read More
Shortlist Raises US$2 Million in Series A Funding Round
Africa- and India-focused recruiting and human resources solutions provider Shortlist has raised US$2 million in a Series A funding round led by family office Blue Haven Initiative. Compass Venture Capital and existing investor Zephyr Acorn also participated in the round. Shortlist provides digital job application and human resources management services to more than 300 companies and plans to use the… Read More
Zebu Investment Partners Holds First Close for Second Fund Valuation
African agribusiness-focused private equity fund manager Zebu Investment Partners has reached a first close for the Africa Food Security Fund with US$84 million in capital commitments. Investors in the fund include South Africa-based Public Investment Corporation, investment manager Kuramo Capital Management and development finance institutions AfDB, CDC, DGGF, IFU and EBID. The fund, which is targeting US$100 million in total… Read More
The Carlyle Group to Invest US$186 Million for Minority Stake in Madero
Global alternative asset manager the Carlyle Group has agreed to acquire a 23 percent stake in Madero, a Brazil-based restaurant chain operator with 140 locations, for BRL700 million (approximately US$186 million). The transaction reportedly comprises BRL100 million (US$27 million) to acquire existing shares in the company and BRL600 million (US$159 million) in new capital. Madero plans to use the majority… Read More
Berkshire Partners to Invest in South Africa’s Teraco
U.S.-based investment firm Berkshire Partners has agreed to acquire a majority stake in Teraco Data Environments, a South Africa-based provider of colocation and data infrastructure services. U.K-based private equity investor Permira, an existing shareholder, will remain an investor in Teraco. The company operates five data centers in South Africa serving more than 450 clients. Financial details of the transaction, which… Read More
Citykart Retail Raises US$14 Million from IDFC Alternatives and India SME Investments
India-based value apparel retailer Citykart Retail has raised INR1 billion (approximately US$14 million) from India-focused alternative investment firms IDFC Alternatives and India SME Investments, which have acquired a significant minority stake in the company. Citykart plans to use the funds to open new stores in northern and eastern India and to strengthen its back-end operations. IDFC invested through IDFC Private… Read More
Andela Raises US$100 Million in Series D Funding Round Led by Generation Investment Management
Africa-focused software engineering services provider Andela has raised US$100 million in a Series D funding round led by global sustainability-focused investor Generation Investment Management. Existing investors Chan Zuckerberg Initiative, GV, Spark Capital and CRE Venture Capital also participated in the round. Andela recruits and trains software developers at coding campuses in Nigeria, Kenya, Rwanda and Uganda. The company’s developers are… Read More
Gulf Capital Invests US$22 Million in CHO Company
Middle East-focused alternative asset manager Gulf Capital has invested US$22 million in Tunisia-based olive oil producer and exporter CHO Company. The company produces more than 10 million gallons of olive oil per year and plans to use the funds for working capital and to support its expansion and integration plans. Gulf invested through Gulf Credit Opportunities Fund II. Read More
CrossBoundary Raises US$16 Million for Mini-Grid Project Finance Facility
Frontier market investment firm CrossBoundary has reached a first close for CrossBoundary Energy Access, an Africa-focused project financing facility for power mini-grids, with US$16 million in capital commitments. Investors in the first close include the Rockefeller Foundation and family office Ceniarth. The facility has a blended finance structure and will initially invest in mini-grids serving 170,000 people in Tanzania, Nigeria… Read More
Colony Capital to Acquire Abraaj Group’s Latin America Private Equity Platform
Global investment manager Colony Capital has agreed to acquire the Latin American private equity platform of global growth markets investor the Abraaj Group in partnership with the platform’s existing management. The platform, which currently manages more than US$500 million, will rebrand as Colony Latam Partners and its current senior management team—including partners Miguel Angel Olea Sisniega, Hector Martinez Fry, Gerardo… Read More
Advent International to Acquire Controlling Stake in Prisma at US$1.42 Billion
Global private equity fund manager has agreed to acquire a 51 percent stake in Argentina-based payments company Prisma Medios de Pago from a group of 14 Argentine banks and global financial services provider Visa International. The company offers various point-of-sale, transaction processing and e-wallet services to merchants in Argentina and 14 countries across Latin America. The transaction, which values Prisma… Read More
Aye Finance Raises US$10 Million from responsAbility Investments and Northern Arc Capital
India-based non-banking finance company Aye Finance has raised US$10 million via non-convertible debentures from impact investment fund manager responsAbility Investments and India-based lender Northern Arc Capital. Aye will use the proceeds to bolster its business loan offerings to micro-, small- and medium-sized enterprises in India. Read More