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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
Warburg Pincus, The Abraaj Group and IFC Exit Continental Warehousing Corporation to DP World and NIIF (Asia)
Hindustan Infralog, a joint venture between U.A.E.-based port operator DP World and the Indian government-sponsored National Investment and Infrastructure Fund (NIIF), has acquired a 90 percent stake in India-based integrated multimodal logistics company Continental Warehousing Corporation (CWCNSL) for a reported amount of US$400 million. The deal facilitates an exit for private equity firms Warburg Pincus and The Abraaj Group, along… Read More
L Catterton-backed Rapsodia Acquires Baby Cottons (Latin America)
Rapsodia, an Argentina-based women’s apparel group backed by global consumer-focused private equity fund manager L Catterton, has acquired Argentina-based children’s fashion retailer Baby Cottons. The company operates across 23 directly owned locations and eight franchises in various countries in Latin America, as well as the United States and Kuwait. Financial details of the transaction were not disclosed. Read More
Dragon Capital Acquires Stake in Sabeco (Asia)
Vietnam-focused asset manager Dragon Capital and affiliated investors have reportedly acquired 15.3 million shares of Ho Chi Minh City Stock Exchange-listed Saigon Beer-Alcohol-Beverage Corporation (Sabeco). Dragon’s investment was made through various funds including Vietnam Enterprise Investments (VEIL). Financial details of the transaction were not disclosed. Read More