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Bozano Investimentos Invests in Paggcerto (Latin America)
Brazil-focused alternative asset manager Bozano Investimentos has invested in Brazil-based fintech startup Paggcerto through Criatec 2. The company offers payment and invoice factoring solutions to small businesses in Brazil. Financial details of the transaction were not disclosed. Read More
Goldman Sachs Invests in Suning Sports and Zuoyebang (Asia)
Global investment banking and asset management group Goldman Sachs and China-based e-commerce and technology conglomerate Alibaba Group Holding have led a US$600 million Series A funding round for Suning Sports, the sports-focused arm of China-based retailer Suning. Yunfeng Capital, Lion Rock Capital, Evergrande Group, SenseTime, China Construction Bank, Industrial & Commercial Bank of China and Agricultural Bank of China also… Read More
Abu Dhabi Investment Authority and TPG to Invest US$1.2 Billion in UPL (Asia)
Emirati sovereign wealth fund Abu Dhabi Investment Authority (ADIA) and global alternative asset manager TPG have agreed to invest US$1.2 billion for a combined 22 percent stake in India-based agrochemical manufacturer UPL Corporation. The company plans to use the funds to support its acquisition of 100 percent of Arysta LifeScience, a U.S.-based producer of crop protection solutions, for US$4.2 billion.… Read More
CIIE Reaches First Close for Bharat Innovation Fund (Asia)
The Centre for Innovation, Incubation and Entrepreneurship (CIIE), the incubator program of the Indian Institute of Management (IIM) in Ahmedabad, has reached a first close for Bharat Innovation Fund. Investors in the fund include Small Industries Development Bank of India, financial services firms ICICI Lombard and RBL Bank and corporate investors Philips and Bajaj Electricals. The fund, which is targeting… Read More
Avenue Capital Group Reaches US$450 Million Final Close for Avenue Asia Special Situations Fund V (Asia)
Global alternative investment fund manager Avenue Capital Group has reached a final close for Avenue Asia Special Situations Fund V with US$450 million in capital commitments. The fund will make direct loans to Asia-based companies with limited access to bank financing, as well as acquire non-core assets from multinational companies active in Asia. Read More
Turkven to Acquire Majority Stake in Elif Holding (CEE and CIS)
Turkey-focused private equity fund manager Turkven has agreed to acquire a majority stake in Turkey-based packaging company Elif Holding. The company supplies packaging for the food, beverage, pet, home and personal care industries in more than 50 countries. Financial details of the transaction, which is subject to regulatory approval, were not disclosed. Read More
Lakeshore Capital Acquires Controlling Stake in Devakam Apothecary Hall (Asia)
Thailand-focused private equity fund manager Lakeshore Capital has acquired a controlling stake in Thailand-based pharmaceutical company Devakam Apothecary Hall. The company, which manufactures over-the-counter analgesic creams under the Namman Muay brand, plans to partner with Lakeshore to recruit new management, expand its product lines, modernize the company brand and improve sales channels. Lakeshore invested through Lakeshore Capital I. Financial details… Read More
LeapFrog Investments Acquires Majority Stake in Ascent Meditech (Asia)
Emerging markets specialist private equity fund manager LeapFrog Investments has acquired a majority stake in India-based medical products manufacturer Ascent Meditech. The company, which markets orthopedic, mobility and wound care products primarily under the Flamingo brand, will partner with LeapFrog to expand its product line and geographic presence in Sub-Saharan Africa and Southeast Asia. Financial details of the transaction were… Read More
Cathay Capital Private Equity Reaches US$701 Million First Close for Cathay Midcap II (Multi-region)
Global private equity fund manager Cathay Capital Private Equity has reached an EUR600 million (approximately US$701 million) first close for Cathay Midcap II. Investors in the fund include China Development Bank, Bpifrance and the China-EU Co-investment Fund—a partnership between the European Investment Fund and the Silk Road Fund—as well as sovereign wealth funds, family offices and other institutions. The fund,… Read More
African Capital Alliance Invests in Daraju Industries (Sub-Saharan Africa)
West Africa-focused private equity fund manager African Capital Alliance (ACA) has invested in Nigeria-based Daraju Industries through Capital Alliance Private Equity IV. The company, which produces personal care and household products, plans to use the funds to expand its product lines and boost capital expenditure. Financial details of the transaction were not disclosed. Read More
Qeeka, Inke and 51 Credit Card Complete IPOs on Hong Kong Stock Exchange (Asia)
Three private capital-backed companies have completed their initial public offerings (IPOs) on the Hong Kong Stock Exchange. Orchid Asia Group-sponsored Qeeka Home, a China-based online interior design and construction platform, and China-based video streaming platform Inke—which is backed by GSR Ventures, SAIF Partners and PurpleSky Capital—each raised HKD1.2 billion (approximately US$153 million). 51 Credit Card, a peer-to-peer (P2P) lender targeting… Read More
Creador Reaches US$430 Million First Close for Fourth Fund (Asia)
South and Southeast Asia-focused private equity fund manager Creador has reportedly reached a first close for Creador IV with US$430 million in capital commitments. The fund, which has a target of US$500 million, will invest primarily in Malaysia, India, Indonesia, Vietnam and the Philippines. Read More