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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
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