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Falcon House Partners Fund II Reaches US$400 Million Final Close (Asia)
Indonesia-focused investment firm Falcon House Partners has reached a final close for its second fund with US$400 million in capital commitments, surpassing its US$300 million target. Investors in the fund include university endowments, charitable foundations and funds of funds. Development finance institutions International Finance Corporation, FMO and DEG reportedly committed US$25 million, US$20 million and US$16 million, respectively, to the… Read More
AYE Finance Completes US$10 Million Series B Round from LGT Impact Ventures and Others (Asia)
LGT Impact Ventures, the impact investment arm of LGT Group, has led an INR700 million (approximately US$10 million) Series B round for India-based micro-enterprise lender AYE Finance. Venture capital firm SAIF Partners and Accion Venture Lab, the seed-stage investment vehicle of financial inclusion-focused investor Accion, also participated. AYE Finance will use the new funding to further expand its loan portfolio… Read More
EAIF Provides US$25 Million Loan to CECA SL Generation (Sub-Saharan Africa)
The Emerging Africa Infrastructure Fund (EAIF), a joint public and private investment fund owned by the Private Infrastructure Development Group and managed by Investec Asset Management, has provided a US$25 million loan to CECA SL Generation, a joint venture set up by power developers TCQ Power and Globeleq to build a 57 megawatt oil-fired power station in Freetown, Sierra Leone.… Read More
Phatisa and Kanthu Nkhama Capital to Acquire 55 Percent Stake in Kanu Equipment (Sub-Saharan Africa)
Africa-focused private equity fund manager Phatisa and Kanthu Nkhama Capital have agreed to acquire a 55 percent stake in South Africa-based construction equipment supplier Kanu Equipment from Johannesburg Stock Exchange-listed industrial group Torre Industries for a total consideration of US$27 million. Phatisa will invest through African Agriculture Fund and increase its total stake in the company to 89 percent. Kanu… Read More
The Carlyle Group to Acquire Majority Stake in CMC Networks (Sub-Saharan Africa)
Global alternative asset manager The Carlyle Group has agreed to acquire a majority stake in South Africa-based telecommunications carrier CMC Networks from Africa-focused principal investments firm Investec Equity Partners. Carlyle will invest from the Carlyle Sub-Saharan Africa Fund, while CMC’s founder and management team will reinvest alongside Carlyle. Financial details of the transaction, which is expected to close in the… Read More
PatSnap Closes Series C Round from Sequoia Capital and Others (Asia)
Singapore-based intellectual property intelligence platform PatSnap has closed a Series C funding round led by Sequoia Capital, with participation from venture capital firms Shunwei Capital Partners and Qualgro Ventures. The company will use the investment to develop new products and expand its team globally. Financial details of the transaction were not disclosed. Read More
Ethos Private Equity Reaches First Close for Ethos Mid Market Fund I (Sub-Saharan Africa)
South Africa-focused private equity fund manager Ethos Private Equity has reached a first close for Ethos Mid Market Fund I with an undisclosed amount of committed capital. Investors in the fund include investment management firm Ethos Capital, which committed ZAR550 million (approximately US$38 million). The fund will seek to deploy between ZAR100 million and ZAR350 million (approximately US$6.9 million and… Read More
Gramercy Funds Management Reaches Final Close for Gramercy Distressed Opportunity Fund III (Pan-EM)
Emerging markets-focused investment manager Gramercy Funds Management has reached a final close for Gramercy Distressed Opportunity Fund III with nearly US$1 billion in capital commitments. The fund will invest opportunistically in dislocated and defaulted sovereign, quasi-sovereign and corporate credits, as well as actively short bonds and hedge long positions. To date, the fund has called 50 percent of its capital… Read More
Victoria Capital Partners Leads US$100 Million Capital Increase for Grupo Los Grobo (Latin America)
South America-focused private equity fund manager Victoria Capital Partners (VCP) has led a US$100 million capital increase for Argentina-based agribusiness and investment company Grupo Los Grobo. University of Texas Investment Management Company and development finance institutions International Finance Corporation and FMO also participated in the capital increase. Simultaneously, VCP has acquired a block of additional shares from existing shareholders in… Read More
General Atlantic Invests US$80 Million in MAP Boga Adiperkasa (Asia)
Global growth equity firm General Atlantic has subscribed to IDR1.08 trillion (approximately US$80 million) in zero-coupon bonds issued by Indonesia-based lifestyle retailer Mitra Adiperkasa (MAP), which are convertible into shares in MAP’s food and beverage subsidiary, MAP Boga Adiperkasa (MBA). MBA operates over 300 stores across 24 cities in Indonesia and will use part of the investment for network expansion.… Read More
Buran Venture Capital and Vision Plus Invest in Kopikot.ru (CEE and CIS)
Russia-based e-commerce cashback rewards platform Kopikot.ru has received an investment from venture capital firms Vision Plus and Buran Venture Capital. The investment is part of a larger deal in which Buran and Vision Plus invested EUR3.7 million (approximately US$4 million) in Bonusway, the Finland-based parent company of Kopikot.ru. Financial services companies Nordea and Finnvera also provided an EUR3.2 million (approximately… Read More
CDH Investments and CCB International Sell Stakes in Harmonicare Medical Holdings (Asia)
China-focused private equity firm CDH Investments and investments services provider CCB International have sold their stakes in Hong Kong Stock Exchange-listed hospital operator Harmonicare Medical Holdings to China-based life insurance company Taikang Insurance Group. CDH sold a 10.37 percent stake in the company for HKD514 million (approximately US$66 million) and CCB sold a 6.07 percent stake for HKD301 million (approximately… Read More