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IDG Ventures India Reaches US$200 Million Final Close for Fund III, Invests in AgroStar (Asia)
IDG Ventures India has reached a final close for IDG Ventures India Fund III with US$200 million in capital commitments. The fund will invest in India-based technology companies across the consumer internet, software, health technology and fintech sectors. Separately, IDG Ventures India and Aavishkaar Venture Management participated in India-based agriculture startup AgroStar’s US$10 million Series B round, which was led… Read More
Brookfield Agrees to Acquire 100% of TerraForm Global and 51% of TerraForm Power (Multi-Region)
Brookfield Asset Management has agreed to acquire 100 percent of outstanding shares of NASDAQ-listed, emerging markets-focused renewable power platform TerraForm Global for US$787 million in cash and the assumption of approximately US$455 million in net debt. TerraForm Global owns and operates, or has contracts to acquire, 31 wind and solar power plants totaling 952 megawatts of capacity in Brazil, India,… Read More
CLSA Capital Partners Invests in Azoya (Asia)
CLSA Capital Partners, the alternative asset management arm of Hong Kong-based brokerage and investment group CLSA, has invested in China-based e-commerce solutions provider Azoya. The round also included further commitments from Azoya’s existing investors. CLSA invested through ARIA Investment Partners IV. Azoya provides solutions for international e-commerce platforms and traditional retailers looking to access China’s online retail market and will… Read More
VI Group Leads US$2 Million Series A Round for Congnhadat.net (Asia)
Vietnam-focused private equity firm Vietnam Investment Group (VI Group) has led a US$2 million Series A round for a 15 percent stake in Vietnam-based online-to-offline real estate platform Congnhadat.net. Australia-based real estate services provider Realestate.com.au also participated in the round. Congnhdata.net, which manages 230,000 listings in seven major cities in Vietnam, will use the funds to expand and train its… Read More
Wamda Capital Leads Financing Round for Modanisa (CEE and CIS)
MENA-focused venture capital firm Wamda Capital has led a financing round for Turkey-based modest fashion e-commerce site Modanisa. MENA-focused venture capital firm STC Ventures also participated in the round. The company plans to use the new capital to expand further in MENA, Europe and the United States. Financial details of the transaction were not disclosed. Read More
TA Associates Invests in Interswitch (Sub-Saharan Africa)
Global growth private equity firm TA Associates has completed its first investment in Africa by acquiring a minority stake in Interswitch, a Nigeria-based integrated digital payments and commerce company. Africa-focused private investment firm Helios Investment Partners, which invested in Interswitch in 2011, will remain the company’s majority shareholder. Interswitch’s operations in Nigeria include domestic debit card scheme Verve and business-to-consumer… Read More
Apis Growth Fund I Reaches US$287 Million Final Close (Asia, Sub-Saharan Africa)
Apis Partners, a private equity asset manager focused on financial services in Africa and South Asia, has reached a final close for Apis Growth Fund I with US$287 million in capital commitments. Investors in the final close include development finance institutions African Development Bank and SIFEM, funds of funds 57 Stars, South Suez Capital and Sarona Asset Management and financial… Read More
True North Partially Exits Fincare to LeapFrog, Tata Capital and TA Associates (Asia)
True North, an India-focused private equity firm formerly known as India Value Fund Advisors, has reportedly sold the majority of its 74 percent stake in India-based financial services group Fincare Business Services to LeapFrog Investments, TA Associates and Tata Capital Private Equity’s Tata Opportunities Fund. Kotak Life Insurance, SIDBI Venture Capital and several family offices also participated in the transaction,… Read More
Yoco Raises Series A Round from Quona and Velocity (Sub-Saharan Africa)
South Africa-based payment solutions provider Yoco has raised a Series A round from financial services-focused investors Quona Capital and Velocity Capital Private Equity. Yoco plans to use the new capital to grow its product offering and South African footprint, as well as penetrate new markets in East Africa and West Africa next year. Financial details of the transaction were not… Read More
Quona Capital-managed Accion Frontier Inclusion Fund Reaches US$141m Final Close (Multi-Region)
Quona Capital, a venture capital firm focused on inclusive finance in emerging markets, has reached a final close for the Accion Frontier Inclusion Fund with US$141 million in capital commitments. Investors in the fund, which is anchored and sponsored by financial inclusion-focused investor Accion, include global insurance companies, investment banks, asset managers, a university endowment, foundations, family offices and development… Read More
Alibaba and SAIF Partners Invest US$200 Million in Paytm (Asia)
Alibaba Group Holding and Asia-focused private equity and venture capital firm SAIF Partners have invested US$200 million in Paytm E-Commerce, an online consumer marketplace subsidiary of India-based mobile internet company One97 Communications. Alibaba acquired a 36.31 percent stake for US$177 million, while SAIF Partners acquired a 4.66 percent stake for US$23 million. Paytm plans to use the capital to expand… Read More
Hosen Fund III Reaches US$440 Million Final Close (Asia)
China-focused food and agribusiness specialist investor Beijing Hosen Investment Management has reached a final close for Hosen Fund III with US$440 million in capital commitments. Investors in the fund include institutions from the United States, Europe, the Middle East and Asia. Hosen invests in mid-market food and agribusiness companies that are either directly located in China or involved in meeting… Read More