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MAGNiTT Raises US$1 Million Seed Round Led by 500 Startups (MENA)
U.A.E.-based investment data platform MAGNiTT has raised US$1 million in a seed financing round led by global venture capital investor 500 Startups. Fund managers Middle East Venture Partners and KISP Ventures, Saudi Arabia-based professional services firm Financial Horizon Group and U.A.E.-based information technology group iNet also participated in the round. MAGNiTT plans to use the funds to improve its platform… Read More
TLcom Capital Leads US$5 Million Investment in Terragon (Sub-Saharan Africa)
Telecom, media and technology-focused venture capital fund manager TLcom Capital has led a US$5 million funding round for Nigeria-based mobile marketing start-up Terragon. TLcom invested through the TIDE Africa Fund, which aims to invest in early- and growth-stage digital enterprises in Africa. Terragon will use the new funds to hire additional business development professionals and to further develop its mobile… Read More
Lighthouse Funds Reaches US$150 Million First Close for Third Fund (Asia)
India-focused private equity firm Lighthouse Funds has reached a first close for its third fund with US$150 million in capital commitments. Investors in the fund include development finance institution IFC, which will commit up to US$45 million. The fund, which is reportedly targeting US$200 million in total commitments, will invest in India-based companies operating in consumer-focused sectors such as health… Read More
Sunlands Online Education Group Raises US$149.5 Million in IPO (Asia)
Sunlands Online Education Group, a China-based provider of post-secondary and professional education backed by Primavera Capital Group and Matrix Partners China, has raised US$149.5 million via its initial public offering (IPO) on the New York Stock Exchange. Sunlands sold 13 million new American Depository Shares for US$11.50 per share. Concurrent to the IPO, China-focused growth capital fund manager Orchid Asia… Read More
KKR-backed Emerald Media Invests US$80 Million in Global Sports Commerce (Asia)
Emerald Media, a pan-Asian media and entertainment platform backed by global investment manager KKR, has acquired a significant minority stake in Singapore-based sports technology and management company Global Sports Commerce (GSC) for US$80 million. The investment comprises primary growth capital, as well as the secondary purchase of Asian entertainment-focused growth equity investor FidelisWorld’s stake in GSC affiliate Techfront. GSC plans… Read More
Fireside Ventures Reaches US$52 Million Final Close for Debut Fund (Asia)
India-focused venture capital fund manager Fireside Ventures has reached a final close for its debut fund with INR3.4 billion (approximately US$52 million) in capital commitments. Investors in the fund include Westbridge Capital, Unilever Ventures, Emami Group and India-based family offices. The fund will focus on seed and Series A investments in consumer-oriented startups in India. Read More
Brookfield Asset Management and GLP Establish Rooftop Solar Joint Venture (Asia)
Global alternative investment firm Brookfield Asset Management and Singapore-based logistics and industrial facilities manager GLP have established a joint venture to develop rooftop solar energy projects in China. The platform aims to install 300 megawatts of rooftop solar generation capacity for logistics and commercial properties over the next three years, with a broader one-gigawatt pipeline under development. Financial details of… Read More
Sahel Capital to Invest in Coscharis Farms (Sub-Saharan Africa)
Nigeria-focused private equity fund manager Sahel Capital has agreed to invest in Nigeria-based rice grower and processor Coscharis Farms. The company, which has 2,500 hectares of land for rice cultivation, plans to install a new rice mill and irrigation system and establish a smallholder farmer program to reach 2,000 farmers in the state of Anambra. Sahel’s investment will come from… Read More
KKR Acquires Four Digital Marketing Companies to Launch Cue & Co. (Asia)
Global investment manager KKR has established digital marketing platform Cue & Co. through the acquisition of China-based digital advertising, marketing and brand management companies Qi-xin, AnG, WIN and Wina Tech. The new platform will retain all four brands while offering integrated, full-range digital marketing solutions for consumer brands, financial institutions, gaming companies and internet service providers. KKR invested through KKR… Read More
BPM Capital Backs Management Buyout of DenEesti (CEE and CIS)
Central and Eastern Europe-focused mezzanine fund manager BPM Capital has backed the management buyout of DenEesti, an Estonia-based provider of shore excursions, shuttle buses and port logistics for cruise ship operators in the Baltic and Black seas. BPM, which invested through BPM Mezzanine Fund, will partner with the company to support its growth in the region. Financial details of the… Read More
Goodwell Invests in Musoni Services (Sub-Saharan Africa)
Financial inclusion-focused impact fund manager Goodwell Investments has made a follow-on investment in Musoni Services, a Netherlands-based provider of cloud-based core-banking software. Musoni’s technology is used by 90 microfinance institutions across 13 countries in Africa and Asia. Goodwell, which originally backed the company in 2015, invested through Goodwell Microfinance Development Company III. Financial details of the transaction were not disclosed. Read More
Redpoint Ventures Reaches US$110 Million Final Close for Debut RMB Fund (Asia)
Redpoint China Ventures, the China-focused arm of global venture capital fund manager Redpoint Ventures, has reached a final close for its first RMB-denominated venture capital fund with CNY700 million (approximately US$110 million) in capital commitments. Investors in the fund include China-based institutional investors. The fund will invest in early-stage companies in the technology, media and telecommunications sector, with a focus… Read More