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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
PAG Asia Capital Leads US$100 Million Series C Round for Mychebao (Asia)
PAG Asia Capital, the private equity arm of Asia-focused alternative investment management firm PAG, has led a US$100 million Series C round for China-based online used-car auction platform Mychebao. The company, also known as Chezhibao, will use the funds to provide financial, logistics, cloud technology and car evaluation services to user-car retailers. Concurrently, the company also announced the completion of… Read More
ResponsAbility and Incofin Invest US$20 Million in Sohan Lal (Asia)
Impact investment firms responsAbility Investments and Incofin Investment Management have invested US$20 million in India-based agricultural logistics services provider Sohan Lal Commodity Management (SLCM). The transaction involved a secondary sale of shares by existing investors Everstone Capital, Mayfield Advisors, Nexus Venture Partners and ICICI Investment Management. Incofin invested through its agRIF fund. Read More
Kejora Ventures Leads Series A Round for Pawoon (Asia)
Southeast Asia-focused venture capital firm Kejora Ventures has led a Series A funding round for Indonesia-based point-of-sale technology startup Pawoon. Other undisclosed investors also took part in the round. Pawoon plans to use the funds to expand its sales and marketing efforts and for research and development. Financial details of the transaction were not disclosed. Read More