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Goodwell Invests in Oradian (Sub-Saharan Africa)
Financial inclusion-focused impact fund manager Goodwell Investments has acquired an equity stake in Nigeria- and Croatia-based Oradian, a provider of digital solutions for financial institutions in frontier markets, through uMunthu Inclusive Growth Investment Fund. Oradian’s cloud-based banking platform, Instafin, currently serves more than 50 financial institutions across seven countries. Oradian plans to use the new capital to grow its business… Read More
Portcapital Invests in Virtual Avionics (Latin America)
Brazil-focused private equity fund manager Portcapital has invested more than BRL3 million (approximately US$1 million) in Brazil-based flight simulation startup Virtual Avionics, through the Embraer-backed aerospace and defense vehicle Fundo Aerospacial. Virtual Avionics plans to use the funds to manufacture and market virtual cockpits for pilot training. Read More
Capillary Technologies Raises US$20 Million from Warburg Pincus, Sequoia Capital and Others (Asia)
Singapore- and India-based retail software solutions provider Capillary Technologies has raised US$20 million from a consortium including global private equity fund managers Warburg Pincus and Sequoia Capital. The round also includes a secondary investment of US$2.5 million from LionRock Capital, facilitating an exit for employees and early-stage angel investors. Capillary plans to use the funds to strengthen its new product… Read More
Lightspeed and Yuri Milner Invest US$50 Million in Udaan (Asia)
India-based Hiveloop Technology, which operates business-to-business (B2B) e-commerce platform Udaan, has raised a US$50 million Series B round led by existing investor Lightspeed Venture Partners and new investor Yuri Milner, who invested through his Apoletto Fund. Lightspeed reportedly invested between US$30 million and US$35 million while Yuri Milner accounted for the remainder. Udaan plans to use the funds to upgrade… Read More
Insignia Ventures Partners Reaches US$120 Million Final Close for Debut Fund (Asia)
Southeast Asia-focused venture capital fund manager Insignia Ventures Partners has reportedly reached a final close for its first fund with US$120 million in capital commitments. Insignia Ventures Partners Fund I targets Southeast Asia-based technology startups. Read More
VIG Partners to Invest US$69 Million in WinPlus (Asia)
Korea-focused private equity fund manager VIG Partners has agreed to acquire an 83 percent stake in Korea-based food wholesaler WinPlus for KRW74 billion (approximately US$69 million) through its third fund. The deal includes a primary capital injection of KRW45 billion (approximately US$42 million). With VIG’s support, WinPlus plans to open more stores, expand its distribution channels and improve its proprietary… Read More
Investec, IFC and FMO Complete Follow-on Investment in Mobisol (Sub-Saharan Africa)
Investec Asset Management’s African private equity arm and development finance institutions International Finance Corporation and FMO have completed a follow-on equity investment in Germany-based Mobisol, a provider of off-grid solar home systems in Africa. The follow-on equity investment, along with new debt facilities secured during the last six months, will help fund further expansion of the business. The Investec-led consortium… Read More
Inspired Evolution to Invest US$36 Million in Alten Africa (Sub-Saharan Africa)
Inspired Evolution Investment Management, an Africa-focused investment manager specializing in clean energy infrastructure and resource efficiency, has agreed to invest up to US$36 million in Alten RE Developments Africa (Alten Africa), the Sub-Saharan Africa-focused subsidiary of developer Alten Energías Renovables. Alten Africa is currently developing construction-ready and advanced projects with a total capacity of 225 megawatts in Namibia, Kenya and… Read More
Vinci Partners to Exit Inbrands to Nelson Alvarenga (Latin America)
Brazil-focused alternative investment fund manager Vinci Partners has agreed to sell its stake in Brazil-based fashion and lifestyle company Inbrands to businessman Nelson Alvarenga Filho. Inbrands’ portfolio includes Ellus, Richards, VR Collezioni, Mandi, Salinas and others. Financial details of the transaction were not disclosed. Read More
Genesis Capital and Avallon to Acquire EQOS Energie Polska and EQOS Energie Česko (CEE and CIS)
Central Europe-focused private equity fund managers Genesis Capital and Avallon have agreed to acquire Poland-based EQOS Energie Polska and Czech Republic-based EQOS Energie Česko from infrastructure services provider EQOS Energie Group. Genesis and Avallon invested through Genesis Private Equity Fund III and Avallon MBO Fund II, respectively. Upon transaction closing, EQOS Energie Polska and EQOS Energie Česko will operate under… Read More
NDE Capital II Reaches US$357 Million Third Close (Asia)
China- and Southeast Asia-focused private equity firm NDE Capital has reached a third close for NDE Capital II with US$357 million in capital commitments. The fund, which has surpassed its initial US$350 million hard cap, is reportedly targeting US$450 million in total capital commitments. Investors in the fund include development finance institution DEG, sovereign wealth funds, university endowments and foundations… Read More
Horizon Capital Partially Exits Purcari Wineries in US$49 Million IPO (CEE and CIS)
Purcari Wineries, which owns wineries in Romania and Moldova, has raised RON186.2 million (approximately US$49 million) in an IPO on the Bucharest Stock Exchange at a price of RON19 (approximately US$5) per share. Horizon Capital, a private equity fund manager that focuses on investments in mid-cap companies in Ukraine and the neighboring region, sold a 41 percent stake in the… Read More