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GSR Ventures Reaches Final Close of US$400 Million for Sixth Venture Capital Fund (Asia)
China-focused technology investor GSR Ventures has reached a final close for its sixth venture capital fund with US$400 million in capital commitments. The fund, which launched in October 2017 with an initial target of US$325 million, will pursue seed and Series A, as well as select Series B, investments in China-based technology startups. Read More
Helios Acquires 76 Percent Stake in TPAY Mobile from A15 (MENA)
Africa-focused private investment firm Helios Investment Partners has acquired a 76 percent stake in U.A.E.-based payments company TPAY Mobile from A15, a MENA- and Europe-focused technology investment firm. TPAY provides mobile phone-enabled direct carrier billing services to customers in 16 countries in the Middle East and North Africa. Financial details of the transaction were not disclosed. Read More
Alta Growth Capital and The Abraaj Group Invest US$100 Million in Docuformas (Latin America)
Private equity fund managers Alta Growth Capital (AGC) and The Abraaj Group have invested US$100 million for a majority stake in Docuformas, a Mexico-based company that distributes and finances office equipment. Funds managed by AGC and Abraaj purchased a 51.31 percent stake from Docuformas chairman Adam Peter Jan Wiaktor Rynkiewicz, the Abraaj-managed Aureos Latin America Fund I and Fiduciaria Colombiana… Read More
KKR to Exit MMI Holdings for US$645 Million, Invest US$294 Million in Max Healthcare Institute (Asia)
Global alternative investment manager KKR has agreed to sell MMI Holdings, a Singapore-based hard-drive component producer, to a China-based consortium for US$645 million including debt. The acquiring consortium is led by an affiliate of Beijing HBH Innovation Industry Fund and includes China-focused private equity fund manager Cybernaut Investment. KKR acquired a 73 percent stake in MMI for US$700 million, including… Read More
Golden Gate Ventures Reaches US$100 Million Final Close for Third Fund (Asia)
Southeast Asia-focused venture capital fund manager Golden Gate Ventures has reached a final close for its third fund with US$100 million in capital commitments. Investors in the fund include Singaporean sovereign wealth fund Temasek Holdings, corporate investors Hanwha, Naver and Mitui Fudosan and investment firms CTBC Group, EE Capital, Ion Pacific, Mistletoe and Korea Venture Investment Corporation. The fund plans… Read More
Walmart Acquires Venture Capital-backed Cornershop for US$225 Million (Latin America)
U.S.-based discount retailer Walmart has agreed to acquire Cornershop, a U.S.-based grocery delivery company serving customers in Mexico and Chile, for US$225 million. Cornerhsop is backed by philanthropic investor Endeavor Catalyst, the Grupo Bimbo family office and venture capital firms ALLVP, Accel Partners, Creandum and Jackson Square Ventures. The transaction is subject to regulatory approval and expected to close by… Read More
BlackRock Raises US$500 Million for Third Mexican Infrastructure Fund in CerPi Listing (Latin America)
Global asset manager BlackRock has raised US$500 million for BlackRock México Infraestructura III via the listing of a Certificado de Proyectos de Inversión (CerPi) on the Mexican Stock Exchange. The fund, which was listed under the ticker symbol BLKCPI 18, will invest in energy, transportation, water and social infrastructure projects in Mexico, Chile, Colombia, Peru and other Latin American countries. Read More
Blackstone-led Consortium to Acquire Majority Stake in Luminor for US$1.2 Billion (CEE and CIS)
A consortium led by global alternative asset manager The Blackstone Group has agreed to acquire a 60 percent stake in Baltics-focused Luminor Bank for EUR1 billion (approximately US$1.2 billion) in cash. The consortium will acquire the stake from financial services groups Nordea and DNB, which are based in Sweden and Norway, respectively. The two Scandinavia-based banks established Luminor in 2017… Read More
Carlyle Co-leads Series E Round of US$450 Million for Tuhu Yangche, Acquires Abacus (Asia, Sub-Saharan Africa)
China-based Lantu Information Technology, which operates automobile after-sales products and services platform Tuhu Yangche, has raised a Series E round of US$450 million led by China-based internet conglomerate Tencent Holdings and global alternative investment fund managers The Carlyle Group and Sequoia Capital. Other participants in the funding round include state-sponsored investor CCB International, CICC, Grand Flight Investment, Goldman Sachs and… Read More
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