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Helios Investment Partners Leads US$55 Million in Series D for Off Grid Electric (Sub-Saharan Africa)
Africa-focused private equity firm Helios Investment Partners has led a US$55 million Series D funding round for Tanzania-based rooftop solar power provider Off Grid Electric. GE Ventures, the venture capital subsidiary of General Electric, also participated in the round. The company plans to use the funds to develop new products and to support its expansion to Ghana through a partnership… Read More
Adobe Capital Raises US$40 Million for Adobe Mezzanine Fund II (Latin America)
Mexico-focused impact investment fund manager Adobe Capital has reportedly raised US$40 million in capital commitments for Adobe Mezzanine Fund II. The fund, which will invest via mezzanine structures with royalty-based repayment terms, targets companies in Latin America that seek to solve social and environmental problems with scalable business models. Read More
IFC and Clearwater Capital Partners to Invest US$150 Million in Asia Distressed Assets (Asia)
Development finance institution IFC and Asia-focused credit and special situations fund manager Clearwater Capital Partners have agreed to invest US$150 million in distressed assets in Asia through special purpose vehicle DARP SPV Clearwater 2 (SPV). Clearwater will commit US$75 million in junior debt to the vehicle through Clearwater Fund V, while IFC will commit US$50 million in senior debt and… Read More
Stakeboat Capital Reaches US$33 Million First Close for Debut Fund (Asia)
India-focused private equity firm Stakeboat Capital has reached a first close for its debut fund with INR2.1 billion (approximately US$33 million) in capital commitments. Investors in the fund include high-net worth individuals and India-based institutions. The fund, which has a target of US$100 million, will focus on mid-market companies in primarily consumer growth-led sectors like health care, enterprise technology, food… Read More
Baring Vostok Acquires Minority Stake in Skyeng (CEE and CIS)
Russia and CIS-focused private equity fund manager Baring Vostok Capital Partners has acquired a minority stake in Russia-based online English language education company Skyeng. The company provides English courses for schoolchildren and training for corporate clients primarily through its Vimbox platform. Financial details of the transaction were not disclosed. Read More
Pi Ventures Reaches US$25 Million Second Close for Debut Fund (Asia)
India-focused venture capital firm Pi Ventures has reached a second close for Pi Ventures Fund I with US$25 million in capital commitments. Investors in the fund include development finance institution IFC, which committed US$3 million, the Small Industries Development Bank of India, Canada-based investment firm In Colour Capital, India-based electronics company Hero Electronix and high-net worth individuals and family offices… Read More
Amethis Finance to Invest in Afriwara Group (Sub-Saharan Africa)
Sub-Saharan Africa-focused private equity firm Amethis Finance has agreed to invest in Côte d’Ivoire-based agro-industrial firm Afriwara Group through Amethis Finance Fund. Afriwara, which is the main shareholder of Société Nouvelle de Confiserie de Vridi (Waraba brand), will use the new capital to support its regional expansion via new acquisitions. Financial details of the transaction were not disclosed. Read More
ResponsAbility Investments, Accel Partners and Elevar Equity Invest US$23.6 Million in Samunnati (Asia)
Impact investment fund manager responsAbility Investments and venture capital firms Accel Partners and Elevar Equity have invested INR1.5 billion (approximately US$23.6 million) in India-based non-banking financial company Samunnati. ResponsAbility led the round and invested through responsAbility Agriculture I. Samunnati, which provides financial services for small and medium-sized businesses across the agriculture value chain in India, will use the new capital… Read More
Injaro Investments and BIO Invest in AviNiger (Sub-Saharan Africa)
West Africa-focused impact investment fund manager Injaro Investments, together with development finance institution BIO, has invested in Niger-based poultry farm operator and egg producer AviNiger. Injaro invested through Injaro Agricultural Capital Holdings. The company will use the capital to build a new egg production facility with an annual capacity of more than 35 million eggs and a feed mill that… Read More
Mediterrania Capital Partners Leads US$67 Million Investment in TGCC (MENA)
Africa-focused private equity firm Mediterrania Capital Partners has led an EUR55 million (approximately US$67 million) investment in Morocco-based construction company Travaux Généraux de Construction de Casablanca (TGCC). Mediterrania invested through Mediterrania Capital III. Development finance institutions DEG and Proparco and Africa-focused fund of funds manager South Suez also participated. TGCC manages construction projects in the residential, hospitality, commercial, industrial, administrative… Read More
HDFC to Receive US$1.75 Billion Investment from Group of Investors (Asia)
India-listed financial institution Housing Development Finance Corporation (HDFC) has agreed to issue 64 million shares at a price of INR1,726.05 (approximately US$27.18) per share for a total of INR111 billion (approximately US$1.75 billion) to a group of investors. Global asset manager KKR will acquire 9.3 million shares, sovereign wealth fund GIC will acquire 30 million shares, Canada-based pension fund Ontario… Read More
CITIC Capital Partners Increases Stake in Harbin Pharmaceutical for US$231 Million (Asia)
CITIC Capital Partners, the private equity arm of CITIC Capital, has invested CNY1.5 billion (approximately US$231 million) to increase its stake in China-based Harbin Pharmaceutical Group from 45 percent to 60.86 percent. CITIC originally invested in Harbin, which produces antibiotics, modern Chinese medicines and animal vaccines, in 2005 and 2017. Read More