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Actis Acquires 44.4 Percent Stake in GHL Systems, Creador Exits (Asia)
Global growth markets investor Actis has acquired a 44.4 percent stake in Malaysia-listed payments company GHL Systems for a reported MYR290 million (approximately US$66 million) from South- and Southeast Asia-focused private equity firm Creador and Simon Loh, executive vice-chairman of GHL. Actis also extended a mandatory takeover offer for the remaining shares of GHL. Creador originally invested in the company… Read More
True North to Acquire 40 Percent Stake in Kerala Institute of Medical Services for US$200m (Asia)
True North, an India-focused private equity firm formerly known as India Value Fund Advisors, has agreed to invest US$200 million for a 40 percent stake in India-based hospital chain Kerala Institute of Medical Services (KIMS). The deal will provide an exit to India-focused private equity firm Ascent Capital and health care-focused investment firm OrbiMed Advisors, which originally invested in the… Read More
DOMO Invest Raises US$32 Million for Debut Fund (Latin America)
Brazil-focused venture capital firm DOMO Invest has reportedly raised BRL100 million (approximately US$32 million) for its debut fund. Investors in the fund include Brazil-based family offices. The fund will target seed-stage companies in the technology sector in Brazil. Read More
Amazon to Acquire SOUQ.com from Tiger Global, Naspers, IFC, Others (MENA)
Global e-commerce and technology company Amazon has agreed to acquire United Arab Emirates-based online retailer SOUQ.com from various investors including Tiger Global Management, Naspers, International Finance Corporation (IFC), Standard Chartered Private Equity (SCPE) and Baillie Gifford. SOUQ.com is an online retail and marketplace platform focused on the Arab world, with localized operations in Saudi Arabia, Egypt and United Arab Emirates.… Read More
Accion Venture Lab Leads US$1.25 Million Seed Round for Lidya (Sub-Saharan Africa)
Accion Venture Lab, the seed-stage investment vehicle of financial inclusion-focused investor Accion, has led a US$1.25 million seed round for Nigeria-based fintech company Lidya. Impact investor Newid Capital and several angel investors also participated in the round. Lidya operates a digital platform that facilitates access to finance for small- and medium-sized enterprises in Africa by building customized credit scores, assessing… Read More
3TS Capital Partners Leads US$2.5 Million Investment in Parsek (CEE and CIS)
Austria- and Slovenia-based health care technology company Parsek has raised a EUR2.3 million (approximately US$2.5 million) funding round led by European technology-focused private equity and venture capital firm 3TS Capital Partners. Parsek’s main product, Vitaly, is a collaboration and integration platform that connects physicians, patients, insurers and care facilities. Parsek plans to use the funds to further build out its… Read More
KKR- and CPPIB-led Consortium Acquires 10.3% Stake in Bharti Infratel for US$950 Million (Asia)
A consortium of funds advised by global investment firm KKR and Canada Pension Plan Investment Board (CPPIB) has acquired a 10.3 percent stake in Bharti Infratel, the infrastructure-focused subsidiary of India-based telecom services provider Bharti Airtel, for INR61.9 billion (approximately US$950 million). Bharti Infratel develops and manages telecom towers and related infrastructure for mobile operators. KKR previously invested in the… Read More
Catalyst Principal Partners Reaches US$103m First Close for Catalyst Fund II (Sub-Saharan Africa)
East Africa-focused private equity firm Catalyst Principal Partners has reached a first close for Catalyst Fund II with US$103 million in capital commitments. Investors in the fund include development finance institutions the European Investment Bank, CDC Group, International Finance Corporation (IFC) and Proparco, as well as family offices and funds of funds. The fund, which is targeting US$175 million, will… Read More
VU Security Raises US$4.3 Million Series A Round from INICIA and NXTP Labs (Latin America)
Argentina-based cybersecurity solutions company VU Security has raised US$4.3 million in a Series A round led by Latin America-focused private asset management firm INICIA, with participation from seed fund and accelerator NXTP Labs. VU plans to use the funds to expand its team and presence in the region. NXTP Labs originally invested in VU in the company’s seed round in… Read More
CDC Group and AgDevCo Invest US$11.5 Million in Jacoma Estates (Sub-Saharan Africa)
Development finance institution CDC Group and Africa-focused agriculture social impact investor and project developer AgDevCo have invested US$11.5 million in Malawi-based agriculture developer Jacoma Estates. CDC will invest US$8 million in equity and AgDevCo will provide US$3.5 million structured as debt and preferred shares. Jacoma plans to use the funds to expand its farming operations in northern Malawi and to… Read More
DEG & African Development Bank Lead US$84 Million Loan for Berkeley-backed ARPE (Sub-Saharan Africa)
ARPE, a Uganda-based power project developer backed by emerging markets-focused fund manager Berkeley Energy and Italy-based construction company PAC, has received a US$84 million loan package to support the construction of a 42-megawatt hydroelectric plant in the Pader district of northern Uganda. The African Development Bank will commit US$19 million and a consortium of European development finance institutions led by… Read More
Ethos Exits Universal Industries to Rand Merchant Bank-led Consortium (Sub-Saharan Africa)
RMB Corvest and RMB Ventures, investment arms of South Africa-based Rand Merchant Bank (RMB), together with South Africa-based Mineworkers Investment Company, have acquired South Africa-based industrial equipment manufacturer Universal Industries, giving Africa-focused alternative investment firm Ethos a full exit from the company. Ethos originally invested in Universal Industries in 2011 through Ethos Fund V. Financial details of the transaction were… Read More