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Middle East Venture Partners Invests in Eat (MENA)
Middle East Venture Partners (MEVP) has invested in Bahrain-based real-time restaurant reservation platform Eat. The company offers restaurants an online reservation and table management system that enables users to reserve tables online. Financial details of the transaction were not disclosed. Read More
Warburg Pincus to Invest US$105 Million in IndiaFirst Life Insurance (Asia)
Global private equity fund manager Warburg Pincus has agreed to acquire a 26 percent stake in IndiaFirst Life Insurance from U.K.-based financial services provider Legal & General Group for INR7.1 billion (approximately US$105 million). Legal & General, Bank of Baroda and Andhra Bank founded IndiaFirst in 2009 as a joint venture. The latter two institutions will retain 44 percent and… Read More
Ijara Capital Partners Acquires Quick Foods (Asia)
Pakistan-focused Ijara Capital Partners has acquired a 100 percent stake in Pakistan-based frozen food company Quick Foods Industries. The company principally operates under the Mon Salwa brand, offering a range of frozen meatballs, kebabs, burger patties and nuggets. Financial details of the transaction, which is the first completed by Ijara’s Pakistan Emerging Markets Fund, were not disclosed. Read More
Ashburton Mezzanine Fund I Reaches US$40 Million First Close (Sub-Saharan Africa)
Africa-focused investment manager Ashburton Investments has reached a first close for its inaugural mezzanine fund with ZAR507.5 million (approximately US$40 million) in capital commitments from four undisclosed investors. Ashburton Mezzanine Fund I, which is targeting ZAR1 billion (approximately US$79 million) in total commitments, will focus on South Africa with an allocation of up to 20 percent for investments in Botswana,… Read More
SenseTime Raises US$620 Million Series C+ Round from Hopu, Tiger Global and Others (Asia)
China-based artificial intelligence company SenseTime has raised a US$620 million Series C+ round valuing the company at more than US$4.5 billion. Investment firms Fidelity International, Hopu Investment Management, Silver Lake and Tiger Global Management led the round, which also included participation from Qualcomm Ventures and other financial and strategic investors. SenseTime plans to use the new capital to invest in… Read More
CredRight Raises US$1.3 Million from Accion Venture Lab, YourNest and Others (Asia)
Accion Venture Lab, the seed-stage investment vehicle of financial inclusion-focused investor Accion, India-focused venture capital fund manager YourNest and several angel investors have jointly invested INR90 million (approximately US$1.3 million) in India-based fintech startup CredRight. CredRight provides credit to unserved and underserved micro-, small- and medium-sized enterprises. The company partners with chit funds, which use a reverse auction process to… Read More
Zynga Acquires Hummingbird Ventures-backed Gram Games for US$250 Million (CEE and CIS)
U.S.-listed social game developer Zynga has acquired Turkey-based mobile game developer Gram Games, which is backed by Hummingbird Ventures, for US$250 million in cash. Zynga will also pay a three-year earn-out if Gram Games meets undisclosed financial targets. Hummingbird Ventures originally invested in Gram Games in 2012, when the company was founded. Read More
Mid Europa to Invest in JS Hamilton (CEE and CIS)
Central and Eastern Europe-focused private equity fund manager Mid Europa Partners has agreed to invest in Poland-based JS Hamilton, a testing, inspection and certification company engaged in food, non-food, fuel and environmental testing, as well as cargo and engineering inspection. With Mid Europa’s support, JS Hamilton plans to broaden its service portfolio and seek new customers through national and international… Read More
CITIC Capital Invests in Shanghai Railink and Atasu Group (Asia, CEE and CIS)
China-focused alternative investment management and advisory company CITIC Capital Holdings has invested in China-based Shanghai Railink International Intermodal Logistics and Kazakhstan-based Atasu Group. Both companies operate in the logistics services sector, serving trade links between China and Europe via Central Asia and Kazakhstan. CITIC Capital, which invested through CITIC Capital Silk Road Fund, plans to support the further development of… Read More
Ant Financial Raises US$10 Billion at US$150 Billion Valuation (Asia)
China-based online payment platform operator Ant Financial Services, a subsidiary of Alibaba, has reportedly raised US$10 billion from a consortium of global and local investors in a funding round valuing the company at US$150 billion. Sovereign wealth funds GIC, Temasek Holdings and Khazanah Nasional, as well as global private equity and venture capital fund managers Warburg Pincus, The Carlyle Group… Read More
Toffee Insurance Raises US$1.5 Million Seed Round from Accion Venture Lab, Kalaari and Omidyar Network (Asia)
India-based digital-only insurance platform Toffee Insurance has raised US$1.5 million in a seed financing round led by Accion Venture Lab, the seed-stage investment vehicle of financial inclusion-focused investor Accion, India-focused venture capital firm Kalaari Capital and philanthropic investment firm Omidyar Network. Toffee provides insurance offerings to millennials; its initial lineup of products spans health, lifestyle and personal accidents. Toffee plans… Read More
Kalaari Capital and IDG Ventures Exit Zivame to Zodius Capital (Asia)
India-focused technology investment firm Zodius Capital has reportedly increased its stake in India-based lingerie retailer Zivame to 45 percent by acquiring shares from India-focused venture capital firms Kalaari Capital and IDG Ventures India. Kalaari and IDG originally invested in Zivame in 2012. Financial details of the transaction were not disclosed. Read More