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Vostok Emerging Finance and Monashees Capital Lead US$5 Million Series A Round for Magnetis (Latin America)
Brazil-based online personal investment consultancy Magnetis has raised BRL17 million (approximately US$5 million) in a Series A funding round led by emerging markets fintech-focused venture capital firm Vostok Emerging Finance and Latin America-focused early-stage venture capital firm Monashees Capital. Redpoint e.ventures and unnamed angel investors also participated in the round. Magnetis, which recently released a mobile application, will use the… Read More
Actera Group and Esas Holdings Exit U.N. Ro-Ro to DFDS for US$1.2 Billion (CEE and CIS)
Turkey-focused private equity fund manager Actera Group and investment company Esas Holdings have agreed to sell their joint 98.8 percent stake in Turkey-based roll-on roll-off freight shipping company U.N. Ro-Ro to Denmark-based shipping and logistics firm DFDS for EUR950 million (approximately US$1.2 billion). The acquisition of U.N. Ro-Ro, which operates two port terminals and five shipping routes between Turkey and… Read More
AION Investments and JSW Steel Acquire Majority Stake in Monnet Ispat & Energy for US$570 Million (Asia)
AION Investments, a joint venture between India-focused ICICI Venture Funds Management and U.S.-based alternative investment firm Apollo Global Management, and India-based steel manufacturer JSW Steel have agreed to acquire a 75 percent stake in bankrupt India-based steel and sponge iron producer Monnet Ispat & Energy for INR37 billion (approximately US$570 million). AION and JSW hold 70 percent and 30 percent… Read More
Daiwa PI Partners Leads US$14.7 Million Investment in Oway (Asia)
Daiwa PI Partners (DPI), an investment arm of Japan-based investment bank Daiwa Securities Group, has led a US$14.7 million investment in Myanmar-based online travel company Oway to support the company’s expansion. DPI contributed US$5 million, with the remaining funds coming from International Finance Corporation, Belt Road Investment Group and alternative investment fund managers NSI Ventures and Emerging Markets Investment Advisers… Read More
d.light Raises US$50 Million in Debt Financing from EIB, responsAbility Investments and Others (Pan-Emerging Markets)
d.light, a global provider of solar power and lighting solutions for off-grid communities, has raised US$50 million in debt financing from the European Investment Bank (EIB), impact investment fund managers responsAbility Investments and Social Investment Managers & Advisors, solar energy finance company SunFunder and an additional undisclosed investor. The company, which currently operates across distribution hubs in East Africa, West… Read More
IDG Ventures India Leads US$1.85 Million Seed Round for Kristal.AI (Asia)
Singapore-based digital asset management platform Kristal.AI has raised US$1.85 million in a seed round led by technology-focused venture capital firm IDG Ventures India. Several angel investors, including Shailesh Rao and Amit Gupta, also participated in the round. Kristal.AI, which caters to investment funds and family offices in Singapore, Hong Kong and India, plans to use the funds to improve its… Read More
Asoko Insight Raises US$3.6 Million in Series A Round (Sub-Saharan Africa)
Africa-focused corporate information platform Asoko Insight has raised US$3.6 million in a Series A funding round from new and existing investors. Previous backers North Base Media, Singularity Investments, CRE Venture Capital and Lateral Capital, as well as new investors LC Partners, Spice Fund, Outlierz Ventures and Zephyr Management, contributed to the round, which was reportedly oversubscribed by 20 percent. Asoko… Read More
Ethos- and Nedbank Private Equity-backed The Beverage Company Acquires SoftBev (Sub-Saharan Africa)
South Africa-based drink manufacturer The Beverage Company, which is backed by Sub-Saharan Africa-focused private equity fund managers Ethos and Nedbank Private Equity, has agreed to acquire SoftBev, a South Africa-based beverage company. Through the acquisition, The Beverage Company will take over production of SoftBev’s original brands, as well as its Pepsi bottling and distribution operations in Southern Africa. Financial details… Read More
Warburg Pincus Partially Exits Lemon Tree Hotels in US$159 Million IPO, Leads US$44 Million Series C Round for Sensors Data (Asia)
India-based mid-priced hotel chain Lemon Tree Hotels has raised INR10.38 billion (approximately US$159 million) in its initial public offering (IPO) on the Bombay Stock Exchange and National Stock Exchange of India. Lemon Tree’s investors sold 186 million shares at a price of INR56 (approximately US$0.86) per share in the offering. Global private equity firm Warburg Pincus sold 94.5 million shares,… Read More
Mediterra Capital Partners Exits ACP Sigorta to Howden Broking Group (CEE and CIS)
Turkey-focused private equity fund manager Mediterra Capital Partners has exited its majority stake in Turkey-based insurance and reinsurance brokerage company ACP Sigorta to Howden Broking Group, an affiliate of U.K.-based Hyperion Insurance Group. Mediterra originally invested in ACP in 2014 through Mediterra Capital Partners I. Financial details of the transaction, which is expected to be completed in April 2018, were… Read More
Saama Capital Reaches US$100 Million Final Close for Fourth Fund (Asia)
India-focused early-stage venture capital firm Saama Capital has reached a final close for Saama Capital IV with US$100 million in capital commitments. Investors in the fund include large family offices and endowments from outside of India. The fund will target investments in early-stage start-ups across a range of sectors, with initial investment sizes ranging from US$1 million to US$3 million. Read More
MBK Partners and Baring Private Equity Asia Lead the Acquisition of eHi Car Services for US$937.5 Million (Asia)
A consortium led by Asia-focused alternative investment firms MBK Partners and Baring Private Equity Asia has agreed to acquire China-based and New York Stock Exchange-listed car rental services company eHi Car Services at an implied equity value of US$937.5 million. The consortium will take the company private for a consideration of US$6.75 per common share or US$13.50 per American Depository… Read More