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NBK Capital Exits Stake in Elaj Medical Services (MENA)
NBK Capital, a subsidiary of the National Bank of Kuwait, has exited the stake held by the Kuwait Investment Opportunities Fund in Saudi Arabia-based health care group Elaj Medical Services (EMS) to a consortium of doctors. NBK originally invested in EMS, which owns and operates the Taiba Hospital in Kuwait, in 2011. Financial details of the transaction were not disclosed. Read More
Actis Partially Exits IDFC for US$17 Million (Asia)
Global growth markets investor Actis has partially exited its stake in India-listed infrastructure finance company IDFC for INR1.1 billion (approximately US$17 million). Actis sold approximately 21 million shares for INR53.15 (approximately US$0.80) per share. The firm originally invested in IDFC in 2010 and reportedly still holds an approximately 0.8% stake in the company. Read More
Genesis Capital Acquires 47 Percent Stake in POS Media Group (CEE and CIS)
Czech Republic- and Slovakia-focused private equity firm Genesis Capital has acquired a 47 percent stake in POS Media Group, a Czech Republic-based provider of point-of-sale advertising and in-store communications solutions. The company plans to use the funds to expand its current portfolio of products and services and to enter new markets. Genesis Capital invested through Genesis Private Equity Fund III.… Read More
AFC Invests US$25 Million in Carbon Holdings Alongside IFC and Gulf Capital (MENA)
Development finance institution and project developer Africa Finance Corporation will invest US$25 million in Egypt-based petrochemicals company Carbon Holdings. International Finance Corporation (IFC) and Middle East-focused alternative investment firm Gulf Capital have also made undisclosed commitments to the company. Carbon Holdings plans to use the funds to expand operations and develop an integrated large-scale petrochemicals platform in Egypt. Read More
CDC, IFC and Others Invest Up to US$48m in Africa Logistics Properties Holding (Sub-Saharan Africa)
Development finance institutions CDC Group and International Finance Corporation (IFC) will invest up to US$35 million in Mauritius-based warehouse developer Africa Logistics Properties Holding (ALP), with CDC investing US$25 million and IFC investing US$10 million. Africa-focused investment firms Maris and Mbuyu Capital Partners will also participate, investing an additional US$8 million and US$5 million, respectively. ALP will use the funds… Read More
The Carlyle Group Exits 8.2 Percent Stake in Edelweiss Financial Services for US$130 Million (Asia)
Global alternative asset manager The Carlyle Group has sold its 8.2 percent stake in Bombay Stock Exchange-listed Edelweiss Financial Services for INR8.7 billion (approximately US$130 million). Carlyle, which originally invested in the company in 2011 through Carlyle Asia Growth Partners IV, sold approximately 68 million shares for INR127.37 (approximately US$1.91) per share. Edelweiss provides diversified financial services, including structured credit,… Read More
Dymon Asia Ventures I Reaches US$20 Million First Close (Asia)
Singapore-based alternative investment manager Dymon Asia Capital has reached a first close for Southeast Asia-focused Dymon Asia Ventures I with US$20 million in capital commitments. Investors in the fund include Thailand-based Siam Commercial Bank, which invested through corporate venture capital arm Digital Ventures. The fund will focus on seed and early-stage investments in technology companies in the financial services sector. Read More
Pi Ventures Reaches US$13 Million First Close for Debut Fund (Asia)
India-focused venture capital firm Pi Ventures has reached a first close for its debut fund with US$13 million in capital commitments. Investors in the fund include the Small Industries Development Bank of India, several Indian entrepreneurs and family offices in the United States, Canada, Singapore and India. The fund, which is targeting US$30 million in total commitments, will invest in… Read More
Advent International Agrees to Acquire Minority Stake in Easynvest (Latin America)
Global private equity firm Advent International has agreed to acquire a significant minority stake in Brazil-based digital investment marketplace Easynvest. Advent will invest through its Brazil-focused holding company Nyx Participações. Easynvest offers online brokerage and investment services to retail investors and has more than 150,000 active users and more than BRL10 billion (approximately US$3.2 billion) in assets under custody. Financial… Read More
IDG Ventures India, Axilor Ventures, and Others Invest US$1.1 Million in PipeCandy (Asia)
Venture capital firms IDG Ventures India, Axilor Ventures and Emergent Ventures and angel investment group Indian Angel Network have invested US$1.1 million in the seed round for India-based sales intelligence startup PipeCandy. The company, which offers data tracking services and industry-specific insights to sales representatives in retail and e-commerce firms, plans to use the funds to expand its coverage to… Read More
Parampara Capital and IDFC Alternatives Invest US$1 Million in Data Resolve (Asia)
India-focused private equity firm Parampara Capital and IDFC Alternatives, the alternative asset management arm of India-focused infrastructure financing company IDFC, have invested US$1 million in India-based cybersecurity company Data Resolve. Parampara and IDFC invested through their joint venture IDFC Parampara Early Stage Opportunities Fund. Data Resolve, which offers cybersecurity analytics and solutions for businesses, plans to use the funds to… Read More
IDG Ventures India, Others Invest US$3.65 Million in Series A Round for Blowhorn (Asia)
India-based intra-city logistics startup Blowhorn has raised US$3.65 million in Series A funding from IDG Ventures India, the Michael & Susan Dell Foundation and existing investors Draper Associates and Unitus Seed Fund, an impact investing affiliate of Unitus Group. The company, which connects customers with mini-truck owners for intra-city deliveries, plans to use the funds to expand operations and grow… Read More