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.
Private Capital-backed Meituan Dianping Raises US$4.2 Billion in IPO (Asia)
China-based e-commerce company Meituan Dianping has raised HKD33.2 billion (approximately US$4.2 billion) in its initial public offering (IPO) on the Hong Kong Stock Exchange. The company sold 480 million shares at a price of HKD69 (US$8.79) per share in the offering. The IPO received US$1.5 billion in commitments from cornerstone investors Tencent Holdings, China Structural Reform Fund, Oppenheimer, Lansdowne Partners… Read More
Private Capital-backed NIO Raises US$1 Billion in IPO (Asia)
China-based electric vehicle manufacturer NIO has raised US$1 billion in its initial public offering on the New York Stock Exchange, selling 160 million American Depositary Shares (ADS) at a price of US$6.26 per ADS. The company is backed by Singaporean sovereign wealth fund GIC and private equity firms Baidu Capital, ChinaEquity, CITIC Capital Partners, Haitong Kaiyuan Investment, Hillhouse Capital Management,… Read More
Actis Acquires Serra Branca Wind Power Project Rights (Latin America)
Global growth markets investor Actis has purchased the rights to construct 197 megawatts of wind power projects in Brazil from Voltalia, a France-based renewable electricity producer and service provider. Completed through Actis’ Brazil-based wind power platform Echoenergia, the deal will authorize the firm to build wind projects on Voltalia-owned sites in the Serra Branca region of Rio Grande do Norte,… Read More
CITIC Capital Reaches US$1.3 Billion First Close for Fourth U.S. Dollar-denominated China Fund (Asia)
China-focused private equity fund manager CITIC Capital Partners has reached a first close for its latest U.S. dollar-denominated China fund with US$1.3 billion in capital commitments. CITIC Capital Partners IV is reportedly targeting a final close of US$2 billion. Read More
Vinci Partners Acquires Domino’s Pizza Brazil for US$61 Million (Latin America)
Brazil-focused alternative investment fund manager Vinci Partners has acquired the Brazilian operations of international restaurant chain Domino’s Pizza from Brazil-based restaurant operator Grupo Trigo. Vinci reportedly plans to increase Domino’s media exposure in São Paulo and invest up to BRL250 million (approximately US$61 million) to open an estimated 500 new stores over the next five years. Read More
TPG Acquires 40 Percent Stake in RR Kabel for US$90 Million (Asia)
Global alternative asset firm TPG has invested INR6.5 billion (approximately US$90 million) for a 40 percent stake in India-based building wire and low-voltage cable manufacturer RR Kabel. The company, which recently released a line of consumer appliances, will partner with TPG to develop new products and expand its presence in India. Read More
I Squared and IFC Acquire NAM Expressways for US$236 Million (Asia)
Cube Highways and Infrastructure, an India-based toll roads investment platform established by global infrastructure investment firm I Squared Capital and development finance institution International Finance Corporation, has acquired 100 percent of NAM Expressways from India-based Ramky Infrastructure for INR16.7 billion (approximately US$232 million) including debt. NAM operates 211 kilometers of four-lane highway in the states of Telangana and Andhra Pradesh. Read More
Global Innovation Fund Leads Series B2 Round of US$10 Million for Paga (Sub-Saharan Africa)
Nigeria-based digital payments company Paga has raised US$10 million from a group of investors led by development-focused investment firm Global Innovation Fund. Other investors in the Series B2 round include impact investors Goodwell Investments, Adlevo Capital, Omidyar Network and Unreasonable Capital. Paga plans to use the funds to expand into new markets such as Ethiopia, Mexico and the Philippines. Read More
Mithril Capital Leads US$140 Million Series C Round for GreyOrange (Asia)
GreyOrange, a Singapore-based manufacturer of robotics systems used in fulfillment centers, has raised US$140 million in a Series C round led by global technology-focused investment firm Mithril Capital. India-focused venture capital fund manager Blume Ventures and Flipkart co-founder Binny Bansal also participated in the round. GreyOrange plans to use the new funds to expand its operations across Asia, Europe and… Read More
Goldman Sachs and Tencent Lead US$450 Million Investment in Miss Fresh (Asia)
Miss Fresh, a China-based fresh produce delivery service, has raised US$450 million in a funding round led by Goldman Sachs Investment Partners and China-based technology conglomerate Tencent Holdings. Other investors in the round included China Renaissance, Davis Selected Advisers, Glade Brook Capital, Jeneration Capital, Poly Capital, Sofina and Tiger Global Management. Miss Fresh reportedly plans to use the funds to… Read More
Vantage Capital Exits New GX Capital (Sub-Saharan Africa)
Africa-focused private credit fund manager Vantage Capital has fully exited South Africa-based investment holding company New GX Capital, reportedly generating a 35 percent return on its original investment. Vantage provided the company with ZAR250 million (approximately US$17 million) in financing in 2016 through its third fund. New GX used the funding to invest in South Africa-based fiber, telecoms, waste recycling… Read More
Partech Leads US$16 Million Series B Round for Yoco (Sub-Saharan Africa)
Partech Ventures, a venture capital firm investing in Europe, the United States, Africa and Asia, has led a Series B round totaling US$16 million for South Africa-based point-of-sale payments company Yoco. Other investors in the round include Dutch development finance institution FMO, corporate venture capital firm Orange Digital Ventures, fintech-focused family office Velocity Capital and the Quona Capital-managed Accion Frontier… Read More