GPCA covers the latest fund, investment and industry news across our markets in two newsletters: NewsWatch is a weekly round-up of key transactions across asset classes; the Global Tech Brief is a bi-weekly review of tech transactions and innovations with cross-border applications. Subscribe in the left-hand sidebar.
Access past editions of NewsWatch here.
Warburg Pincus Leads Investments in DaDa and MoMo
Global private equity fund manager Warburg Pincus has led a US$255-million Series D investment round for DaDa, a China-based K-12 online English language tutoring service. Existing investors TAL Education Company and Yonghua Capital also took part in the round. Separately, Warburg has led a Series C funding round, reportedly of US$100 million, for Vietnam-based mobile payments company MoMo. The company… Read More
Tiger Global Management Leads US$44-Million Series C Round for
Global private investment firm Tiger Global Management has led a CNY300-million (approximately US$44 million) Series C funding round for China-based software developer GaiaWorks. Existing investors Warburg Pincus and Matrix Partners also participated in the round. GaiaWorks, which provides workforce management software and cloud services to manufacturing, retail and services companies in China, will use the funds to grow operations and… Read More
LGT Impact Leads US$17-Million Investment in WayCool
WayCool Foods, an India-based food distribution platform, has raised INR1.2 billion (approximately US$17 million) in equity and debt financing from private equity impact investor LGT Impact, India-based lenders Northern Arc Capital and Caspian and unnamed angel investors. The company will use the funds to expand operations across Southern and Western India and improve its technology and supply-chain infrastructure. Read More
Cinven Agrees to Invest in RTB House
Pan-European private equity firm Cinven has agreed to invest in Poland-based digital advertising company RTB House. Through the deal, Cinven plans to help RTB House expand its global customer base, develop its technology, pursue buy-and-build acquisition opportunities and implement business best practices. Financial details of the transaction, which is subject to customary regulatory and antitrust approvals, were not disclosed. Read More
Air Premia Raises US$36 Million from Neoplux and Yuanta Investment
South Korea-based commercial air carrier Air Premia has raised KRW40 billion (approximately US$36 million) from Neoplux, the investment arm of South Korea-based conglomerate Doosan Group, and Yuanta Investment, a U.S.- and Asia-focused asset management firm. Neoplux and Yuanta have reportedly committed KRW30 billion (US$27 million) and KRW10 billion (US$9 million), respectively, to the company. Read More
Chiratae Ventures Exits Stake in Vserv Digital Services to Maverick Capital
India-focused venture capital firm Chiratae Ventures has sold a 36 percent stake in Vserv Digital Services, an India-based digital advertising company, to global hedge fund manager Maverick Capital. Vserv offers targeted mobile marketing solutions through its online platform. Chiratae first invested in the company in July 2011 through IDG Ventures India Fund I. Financial details of the transaction were not… Read More
Kinea Agrees to Purchase 48 Percent Stake in Quartier Participações
Kinea, the alternative asset management subsidiary of Brazil-based financial services group Itaú, has agreed to purchase a 48 percent stake in Quartier Participações, a Brazil-based holding company with interests in textbook publishing and digital education platforms, including Grupo A Educação. Quartier reportedly plans to use the funds to purchase shares in Artmed Panamericana Editora, a Brazil-based educational product developer, and… Read More
Patria Investments Acquires Impacto
Brazil-focused alternative asset manager Patria Investments has reportedly purchased a majority stake in Impacto, a Brazil-based agricultural input distributor. The company operates four stores, which sell farming inputs such as seeds and agrichemicals, across the state of Mato Grosso. Financial details of the transaction were not disclosed. Read More
Lone Star Acquires San Antonio Internacional
Argentina-based oil exploration and drilling company San Antonio Oil & Gas Services has agreed to sell 100 percent stakes in two of its subsidiaries, San Antonio International Oil & Gas Services and Armadillo Drilling Services, to global alternative investment firm Lone Star Funds. The two companies are in turn controlling shareholders of San Antonio Internacional, the main operating entity associated… Read More
AIIM Invests US$31 Million in BBOXX
African Infrastructure Investment Managers (AIIM) has invested US$31 million for a 28 percent stake in the East Africa operations of U.K.-based, Africa-focused off-grid energy solutions provider BBOXX. The company sells solar systems, billing users on a pay-as-you-go basis, and will partner with AIIM to accelerate the rollout of its products in the region. AIIM invested through African Infrastructure Investment Fund… Read More
Fanisi Capital Agrees to Sell Hillcrest International Schools to GEMS Education for US$25 Million
East Africa-focused private equity firm Fanisi Capital has agreed to sell Kenya-based private education company Hillcrest International Schools for KES2.6 billion (approximately US$25 million) to GEMS Education, a U.A.E.-based education group. Fanisi and entrepreneur Anthony Wahome originally acquired Hillcrest in August 2011 for KES1.8 billion (approximately US$20 million). The transaction is subject to regulatory approval. Read More
Matrix Partners Reaches US$321 Million Final Close for Third India Fund
The India arm of United States- and Asia-focused venture capital firm Matrix Partners has reach a final close for its third fund with US$321 million in capital commitments. Investors in the fund include North America-, Europe- and Middle East-based university endowments, foundations and financial institutions. The fund will target seed, early-stage and early growth-stage investments in India-based companies across a… Read More