GPCA covers the latest fund, investment and industry news across our markets in two newsletters: NewsWatch is a weekly round-up of key transactions across asset classes; the Global Tech Brief is a bi-weekly review of tech transactions and innovations with cross-border applications. Subscribe in the left-hand sidebar.
Access past editions of NewsWatch here.
Samena Capital and Cenova Capital Invest US$83 Million in Virtus Medical Holdings (Asia)
Samena Capital, a principal investment group focused on the Indian subcontinent, the Middle East and North Africa, and Cenova Capital, a fund manager focused on health care in China, have invested US$83 million in Hong Kong-based medical services provider Virtus Medical Holdings. The company’s management team also participated in the investment round. Virtus, which operates as a partnership between the… Read More
Wecash Raises US$160 Million Series D Round (Asia)
China-based online credit assessment and reporting company Wecash Technology has raised a US$160 million Series D funding round led by corporate venture capital firm ORIX Asia Capital and SEA Group. Susquehanna International Group (SIG), Sagamore Investments, Forebright Capital, Lingfeng Capital and Hongdao Capital also participated in the round. Wecash plans to use the funds to expand its lifestyle service portfolio… Read More
IQGEN Holdings Reaches US$25 Million Final Close for Vantage Fund (Asia)
IQGEN Holdings, an investment advisory firm focused on health care in Asia, has reached a final close for its debut fund with US$25 million in capital commitments. Investors in the Vantage fund include high-net worth individuals and family offices. The fund, which will invest in markets including India, Malaysia, Singapore and Taiwan, will target opportunities in various segments of the… Read More
Alteria Capital Reaches US$55 Million First Close for Alteria Capital India Fund I (Asia)
India-focused venture debt fund manager Alteria Capital has reached a first close for Alteria Capital India Fund I with INR3.56 billion (approximately US$55 million) in capital commitments. Investors in the fund include India-based IndusInd Bank and a family office foundation. The fund, which is targeting INR8 billion (approximately US$123 million) in total commitments, will invest in early- and growth-stage companies… Read More
Tencent Leads US$818 Million Series C Round for Chehaoduo (Asia)
China-based internet and technology company Tencent Holdings has led a US$818 million Series C investment round for China-based used automobile retail platform Chehaoduo, previously known as Guazi. Existing investors Sequoia Capital China, H Capital, DST Global, Capital Today, Shougang Fund and Shanhang Capital Investment also participated in the round, along with new investors ICBC Capital, Yunfeng Capital, FountainVest Partners, GIC,… Read More
WaterBridge Ventures Reaches US$30 Million Final Close for Debut Fund (Asia)
India-focused venture capital fund manager WaterBridge Ventures has reached a final close for its maiden fund with US$30 million in capital commitments. The fund will make early-stage investments in technology-focused startups across various sectors in India. Read More
Abris Capital Partners to Acquire Majority Stake in Velvet CARE (CEE and CIS)
Central & Eastern Europe-focused private equity fund manager Abris Capital Partners has agreed to acquire a majority stake in Poland-based personal hygiene product manufacturer Velvet CARE. Abris will invest through Abris CEE Mid-Market Fund III. Velvet CARE will partner with Abris to expand operations in Poland and the region. Financial details of the transaction, which is subject to regulatory approval,… Read More
Ethos Acquires 31 Percent Stake in Echo (Sub-Saharan Africa)
South Africa-focused alternative investment fund manager Ethos has acquired a 31 percent stake in South Africa-based internet service provider Echo. The company, which provides internet connectivity and cloud computing services to corporations in South Africa, plans to partner with Ethos to grow operations in the region. Ethos invested through Ethos Mid Market Fund I. Financial details of the transaction were… Read More
Denham Capital and Themis Launch Africa Power Investment Platform (Sub-Saharan Africa)
Global energy and resources-focused private equity fund manager Denham Capital has established a new Africa power investment platform in partnership with project development and investment advisory firm Themis. Denham and Themis will invest up to US$250 million in equity to develop natural gas-fired and renewable power generation assets across Africa. Themis’s team will be based in Morocco through the incorporation… Read More
LeapFrog Investments Sells Stake in Petra Trust to African Capital Alliance (Sub-Saharan Africa)
Emerging markets specialist fund manager LeapFrog Investments has sold its stake in Ghana-based pension trustee Petra Trust to pan-African investment firm African Capital Alliance (ACA). LeapFrog originally invested in Petra in 2014 through LeapFrog Financial Inclusion Fund. ACA acquired LeapFrog’s stake through Capital Alliance Private Equity IV. Petra currently manages GHS1.4 billion (approximately US$313 million) in assets. Financial details of… Read More
KKR Partially Exits Coffee Day for US$62 Million (Asia)
Global alternative investment firm KKR has partially exited its stake in India-listed coffee shop operator Coffee Day Enterprises. KKR, which originally invested in the company in 2010, sold a total of 12.5 million shares for INR4.05 billion (approximately US$62 million) on the open market. Read More
Momo to Acquire VC-backed Tantan for More Than US$600 Million (Asia)
NASDAQ-listed and China-based mobile social networking platform Momo has agreed to acquire a 100 percent equity stake in China-based social and dating application Tantan for a consideration of 5.3 million newly issued Class A ordinary shares in Momo and US$601 million in cash. Previous investors in Tantan include Genesis Capital, SAIF Partners, ZhongWei Capital, DST Global, Vision Plus Capital, LB… Read More