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Multiples Leads Investment of US$56 Million in APAC Financial Services (Asia)
India-focused private equity firm Multiples Alternate Asset Management has led an investment of INR4 billion (approximately US$56 million) in APAC Financial Services, an India-based non-banking financial company. Multiples reportedly invested INR2.5 billion (US$35 million) for a 37 percent stake while the company’s management team, including founder Gunit Chadha, committed the remaining INR1.5 billion (US$21 million). APAC, which provides affordable housing… Read More
Aqua Capital Acquires Total Biotecnologia (Latin America)
Aqua Capital, a private equity firm focused on control investments in South America-based agribusiness companies, has acquired Total Biotecnologia, a Brazil-based developer of agricultural inoculants. Aqua plans to merge the company with Brazil-based biological product and plant extract producer and distributor Biotrop. The merged company will develop, manufacture and market products for crop development, nutrition and protection. Aqua plans to… Read More
Mid Europa Acquires intive from Enterprise Investors for US$114 Million (CEE and CIS)
Mid Europa Partners, a private equity fund manager focused on control deals in Central and Eastern Europe, has agreed to acquire 100 percent of intive, a Poland-based software company, for EUR100 million (approximately US$114 million). Mid Europa will acquire the company from Enterprise Venture Fund I and Polish Enterprise Fund VII, two vehicles managed by Central and Eastern Europe-focused private… Read More
Lexington Partners Leads US$1 Billion Stapled Secondary Acquisition of Stakes in TPG Asia Funds (Asia)
A consortium led by global secondaries investor Lexington Partners has completed a US$1 billion secondary transaction to acquire stakes in TPG Asia V and TPG Asia VI, funds managed by global alternative investment firm TPG. The 2007-vintage TPG Asia V and 2013-vintage TPG Asia VI originally raised US$3.8 billion and US$3.3 billion in capital commitments, respectively. Global private investment firm… Read More
Sawari Ventures Reaches US$35 Million First Close for Maiden Fund (Africa)
North Africa-focused venture capital firm Sawari Ventures has reached a first close for Sawari Ventures North Africa Fund I with US$35 million in capital commitments. Investors in the fund include development finance institutions CDC, Proparco, the Dutch Good Growth Fund and the European Investment Bank, which committed US$11 million. The fund will invest in technology startups based in Egypt, Tunisia… Read More
Private Capital-backed Tencent Music Raises US$1.1 Billion in Initial Public Offering (Asia)
Tencent Music Entertainment (TME), the music streaming subsidiary of China-based technology conglomerate Tencent Holdings, has raised US$1.1 billion in its initial public offering (IPO) on the New York Stock Exchange. The company sold 82 million American Depository Shares (ADS)—including 41 million primary ADS and 41 million ADS sold by existing shareholders—at a price of US$13 per ADS in the offering.… Read More
Accion Exits Aye Finance (Asia)
Accion Venture Lab, the seed-stage investment initiative of financial inclusion-focused investor Accion, has exited its stake in Aye Finance, an India-based non-banking financial company providing loans to micro, small and medium-sized enterprises. Accion continues to hold a stake in the company through Accion Global Investments, the firm’s later-stage investment vehicle. Accion first invested in Aye Finance in February 2015. Financial… Read More
Bain Capital Reaches US$4.7 Billion Final Close for Fourth Asia Fund
Global private equity firm Bain Capital has reached a final close for its fourth Asia buyout fund with US$4.7 billion in capital commitments. The firm and affiliated parties committed US$650 million to the fund while the remaining US$4 billion was raised from external investors. Pennsylvania Public School Employees’ Retirement System (PSERS) reportedly invested US$200 million in the fund. Read More
IFC Leads Seed Round of US$6 Million for Kobo360 (Africa)
International Finance Corporation (IFC) has led a seed investment round of US$6 million for Kobo360, a Nigeria-based digital logistics platform serving agribusiness, consumer goods and manufacturing companies with long-haul freighting needs. Other investors in the round include private equity and venture capital firms Cardinal Stone Partners, Chandaria Capital, Sequoia Scout, Verod Futures Fund, Western Technology Investment, Y Combinator and TLcom… Read More
Mezzanine Management Closes Fourth Fund at US$299 Million (CEE and CIS)
Central and Eastern Europe-focused private credit fund manager Mezzanine Management has reached a final close for Accession Mezzanine Capital IV with EUR264 million (approximately US$299 million) in capital commitments. The fund will employ a combination of long-term debt and equity to provide flexible growth capital to mid-market businesses in Central Europe. Read More
South Central Ventures Leads US$5.5 Million Financing Round for ConveyIQ (CEE and CIS)
Balkans-focused venture capital investor South Central Ventures has led a US$5.5 million financing round for U.S.-based software developer ConveyIQ. CEE-focused venture capital firm 3TS Capital Partners and technology-focused investor StarVest Partners also participated in the round. ConveyIQ, which develops talent acquisition software for businesses and has offices in the United States and Serbia, plans to use the funds to invest… Read More
Triple P Capital Invests US$3 Million in The Praxis Company (Asia)
Triple P Capital, a private equity fund manager focused on financial inclusion in Southeast Asia, has reportedly invested US$3 million in Singapore-based financial literacy startup The Praxis Company. Praxis uses gamification to teach money management, providing services to financial firms, schools, universities and corporate clients. The company plans to use the funds to expand its presence across the region. Read More