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TPG and Goldman Sachs Lead Round for AirTrunk (Asia)
Global private investment firm TPG and Goldman Sachs have led an AUD400 million (approximately US$306 million) funding round for Singapore-based data center provider AirTrunk. Approximately 60 percent of the investment is equity and the rest is debt. Netherlands-based ING Bank and France-based bank Natixis provided a senior debt facility. TPG invested through TSSP, its dedicated credit and special situations platform.… Read More
VIG Partners Reaches Final Close for Third Fund with US$600 Million in Capital Commitments (Asia)
Korea-focused private equity firm VIG Partners has reached a final close for its third Korea-focused fund with US$600 million in capital commitments. Investors in the fund include banks, family offices, insurance companies, funds of funds and pension funds from Europe, North America and Asia, including Korea’s National Pension Service, which committed KRW202 billion (approximately US$175 million) to the fund’s first… Read More
Accel Partners and IDG Ventures India Participate in Series A Round for SigTuple Technologies (Asia)
Venture capital firm Accel Partners has led a Series A round of INR388 million (approximately US$5.8 million) for India-based medical technology startup SigTuple Technologies, with participation from venture capital firms IDG Ventures India, Endiya Partners, pi Ventures, VH Capital and Axilor Ventures and a number of angel investors. SigTuple plans to use the new capital to expand its team and… Read More
Warburg Pincus Leads US$100 Million Series D Round for Yunniao (Asia)
Global private equity firm Warburg Pincus has led a US$100 million Series D round for Yunniao.me, a China-based online-to-offline courier service. Existing investors Matrix Partners and GSR Ventures also participated in the round. Yunniao plans to use the new capital for technology development, service quality improvement and geographic expansion. Read More
Lighthouse Funds Sells Unibic Foods to Peepul Capital (Asia)
India-focused private equity fund manager Lighthouse Funds has fully exited its stake in cookies maker Unibic Foods India to India-focused private equity firm Peepul Capital. Peepul, which was a majority shareholder in the company prior to the transaction, increased its stake in the company to 97.6 percent through the investment. Lighthouse originally invested in Unibic Foods in 2007 through India… Read More
Gávea Exits Hermes Pardini via IPO (Latin America)
Brazil-focused private equity firm Gávea Investimentos sold shares worth BRL690 million (approximately US$221 million) in Brazil-based medical laboratory Instituto Hermes Pardini in the company’s IPO on Novo Mercado, a segment of BM&F BOVESPA. Gávea originally acquired a 30 percent stake in the company in 2011 through GIF IV. Read More
Development Partners International Exits CAL Bank to Arise (Sub-Saharan Africa)
Africa-focused private equity firm Development Partners International (DPI) has sold its 27.7 percent stake in Ghana-listed CAL Bank to Arise, a financial services investment company backed by major shareholders are development finance institutions Norfund and FMO and financial services group Rabobank. DPI originally invested in CAL Bank in 2012 through African Development Partners I. The sale is expected to be… Read More
Mid Europa Sells Alpha Medical to Unilabs (CEE and CIS)
Central and Eastern Europe-focused private equity firm Mid Europa Partners has agreed to sell Slovakia-based laboratory testing services company Alpha Medical to Unilabs, a Switzerland-based diagnostic services company backed by private equity firm Apax Partners. Mid Europa originally acquired a 100 percent stake in Alpha Medical in October 2012 through Mid Europa Fund III. The transaction, which is subject to… Read More
PAG and Meridian Capital Invest US$225 Million in Food Union Group (CEE and CIS)
Food Union Group, a Latvia-based group of dairy and ice cream producing companies, has raised EUR214 million (approximately US$225 million) from Asia-focused alternative investment management firm PAG and private equity investment group Meridian Capital, an existing shareholder in the company. PAG invested EUR161.6 million (approximately US$170 million), while Meridian invested EUR52.4 million (approximately US$55 million). With PAG and Meridian’s support,… Read More
B Capital Group and EDBI Lead Series B Round for CXA Group (Asia)
Venture capital firm B Capital Group and EDBI, the corporate investment arm of Singapore Economic Development Board, have led a Series B round of US$25 million for Singapore-based health technology startup CXA Group. Netherlands-based technology company Philips and RGAx, a subsidiary of Reinsurance Group of America, also participated in the round. CXA plans to use the new capital to support… Read More
Investec Bank Leads US$19.5 Million Round for Trax Image Recognition (Asia)
Investec Bank has led a US$19.5 million round for Singapore-based Trax Image Recognition. Trax has developed a computer vision platform that turns retail shelf images into real-time insights for manufacturers and retailers. The company plans to use the funds to expand its global operations with a focus on products and services for retailers. Read More
ShawKwei & Partners to Sell YongLe Tape to Avery Dennison for US$190 Million (Asia)
United States-listed packaging materials company Avery Dennison has agreed to acquire China-based YongLe Tape Company, a manufacturer of specialty tapes and related products, from Asia-focused private equity fund manager ShawKwei & Partners and the company’s management for US$190 million. The purchase price is subject to customary adjustments, including additional earn-outs of up to US$55 million, contingent on performance targets over… Read More