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Harith Invests US$24.1 Million in Open Connect (Sub-Saharan Africa)
Africa-focused infrastructure fund manager Harith General Partners has invested US$24.1 million in Malawi-based fiber optic cable network operator Open Connect (OCL) through Pan African Infrastructure Development Fund 2. Through the transaction, Harith will acquire a 60 percent stake in the company, with the remaining 40 percent held by the Malawian government, Malawi- and U.K.-listed holding company Press Corporation and other… Read More
MBK Partners Agrees to Sell Stake in Orange Life Insurance for US$2.1 Billion (Asia)
North Asia-focused private equity fund manager MBK Partners has agreed to sell its 59.15 percent stake in South Korea-listed Orange Life Insurance to Shinhan Financial Group, a South Korea-based, United States-listed financial services conglomerate, for KRW2.3 trillion (approximately US$2.1 billion). MBK will sell 48.5 million shares at KRW47,400 (approximately US$42) per share. In December 2013, the fund manager acquired a… Read More
Brookfield to Invest US$170 Million in Ouro Verde (Latin America)
Brookfield Business Partners, Brookfield Asset Management’s listed investment vehicle focused on the business services and industrials sectors, has agreed to acquire a 55 percent stake in Brazil-based Ouro Verde Locação e Seviços for US$170 million. Ouro Verde leases heavy equipment and light vehicles to corporate clients under multi-year contracts and provides related services including maintenance and operations. While Brookfield Business… Read More
Access Ventures Reaches US$15 Million Final Close for Debut Fund (Asia)
Southeast Asia- and South Korea-focused early-stage venture capital firm Access Ventures has reached a final close for its first fund with US$15 million in capital commitments. Investors in the fund include high-net worth individuals, family offices and corporations from North Asia, Southeast Asia and the United States. Launched in September 2016, the fund has already completed investments in four companies:… Read More
Aqarmap.com Receives Funding from Wamda Capital, KISP Ventures, Raed Ventures and Family Offices (MENA)
Egypt-based online real estate marketplace Aqarmap.com has raised a Series A funding round from MENA-focused venture capital firms Wamda Capital, KISP Ventures and Raed Ventures, as well as several family offices with interests in the real estate sector. The company plans to use the new funds to strengthen its presence in Egypt and Saudi Arabia and expand into other markets.… Read More
3TS Leads US$13 Million Series B Investment in Tresorit (CEE and CIS)
European technology-focused growth capital investor 3TS Capital Partners has led a Series B investment of EUR11.5 million (approximately US$13 million) in Hungary- and Switzerland-based cloud encryption software developer Tresorit. Central and Eastern Europe-focused venture capital firm PortfoLion and several existing investors, including high-net worth individuals, also participated in the round. Part of the funding was used to acquire existing shares… Read More
Lightspeed and DST Invest US$225 Million in Udaan (Asia)
Private equity and venture capital fund managers Lightspeed Venture Partners and DST Global have invested US$225 million in India-based business-to-business e-commerce portal Udaan, valuing the company at US$1 billion. Udaan allows retailers and small- and medium-sized wholesalers and traders to purchase and sell goods on its platform and underwrites loans to them. Udaan plans to use the new capital to… Read More
Sarwa Raises US$1.3 Million in Pre-Series A Round from Shorooq, MEVP, 500 Startups and Others (MENA)
United Arab Emirates-based automated investment advisory platform Sarwa has raised US$1.3 million in a pre-Series A round from venture capital firms Shorooq Investments, Middle East Venture Partners (MEVP), 500 Startups, Women’s Angel Investor Network, Hala Ventures and Saned Partners. Sarwa launched its services in February 2018 under the Innovation Testing License, a special license for fintech startups awarded for the… Read More
Primavera and Morningside Lead US$578 Million Round for SouChe (Asia)
China-based automotive marketplace SouChe has raised US$578 million in a funding round led by China-focused private equity and venture capital fund managers Primavera Capital Group and Morningside Venture Capital. Existing investors including e-commerce and technology conglomerate Alibaba Group Holding, investment firm Dreamfly Capital and private equity fund manager ClearVue Partners also participated in the round. SouChe plans to use the… Read More
Resource Partners Increases Stake in Golpasz to 85 Percent (CEE and CIS)
Central and Eastern Europe-focused private equity fund manager Resource Partners has acquired an additional interest in Poland-based animal feed producer Golpasz from minority shareholders, increasing its stake from 67 percent to 85 percent. In partnership with Resource Partners, Golpasz plans to modernize and expand two of its existing production facilities. Financial details of the transaction were not disclosed. Read More
Anthem Asia Reaches US$34.5 Million First Close for Debut Fund (Asia)
Myanmar-focused private equity fund manager Anthem Asia has reached a first close for Myanmar SME Venture Fund with US$34.5 million in capital commitments. Investors in the fund include development finance institutions International Finance Corporation, the Dutch Good Growth Fund and CDC Group. The fund, which is targeting US$50 million in total commitments, will invest up to US$3 million in Myanmar-based… Read More
DST, Sequoia and Andreessen Horowitz Invest US$200 Million in Rappi (Latin America)
Private investment firm DST Global has led a US$200-million financing round for Colombia-based on-demand delivery startup Rappi, valuing the company at more than US$1 billion. Existing investors Sequoia Capital and Andreessen Horowitz also participated in the round. Rappi delivers beverages, meals, groceries, technology products and medicine. The company also has a cash withdrawal feature that allows users to pay with… Read More