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Actis Exits Stake in Power Distribution Company Umeme (Sub-Saharan Africa)
Growth markets investor Actis has sold its remaining 14.3 percent stake in Uganda Securities Exchange- and Nairobi Securities Exchange-listed power distribution company Umeme. Actis sold its shares via private placement to institutional investors, including Uganda-based private pension fund National Social Security Fund, which acquired a 7.5 percent stake and increased its overall holding in the company to 23 percent. Actis… Read More
Newly Launched EMPEA Institute Presents Sustainability & Operational Excellence Challenge Winner
The newly launched EMPEA Institute presents the winner of the 2016 Sustainability and Operational Excellence Challenge (“the Challenge”): MCap Fund Advisors. MCap was selected for its active management of Ganesha Ecosphere Ltd. by securing the most votes from a global audience of over 200 leading emerging market private capital investors convened at the EMPEA/FT Sustainable Investing in Emerging Markets leadership summit. Read the full press release » Read More
PC Capital Management &Creation Investments Make Follow-on Investment in Te Creemos (Latin America)
Private equity and investment banking firm PC Capital Management and Creation Investments Capital Management, an investment management firm with a focus on financial services, have made a follow-on investment in Mexico-based Te Creemos. The new financing will be used to support Te Creemos’s acquisition of a 100 percent stake in Financiera FINCA, the Mexico-based subsidiary of microfinance institution FINCA International.… Read More
IDG Ventures India and SAIF Partners Invest US$4 Million in PlaySimple Games (Asia)
Venture capital firms IDG Ventures India and SAIF Partners have led a INR270 million (approximately US$4 million) Series A round for India-based mobile social gaming company PlaySimple Games. The company will use the funds for game development, team expansion and marketing. IDG originally invested in the company’s seed round in 2014. Read More
Delta Partners Capital and SEQ Capital Partners Lead Investment Round in STARZ Play (MENA)
Investment and advisory companies Delta Partners Capital and SEQ Capital Partners have led an investment round in United Arab Emirates-based on-demand video streaming service STARZ Play. The company will use the funds to launch new content offerings and expand its partnerships across the MENA region. Financial details of the transaction were not disclosed. Read More
IDG Ventures India and Kalaari Capital Invest US$3 Million in Active.ai (Asia)
Venture capital firms IDG Ventures India and Kalaari Capital have invested US$3 million in Singapore-based fintech startup Active.ai, which employs artificial intelligence (AI) to deliver virtual assistant banking services. Active.ai will use the investment to expand its clientele and improve its AI technology. Read More
Gulf Capital Acquires Controlling Stake in Online Nutritional Supplement Retailer Sporter.com (MENA)
Middle East-focused alternative investment firm Gulf Capital has acquired a controlling stake in Sporter.com, an online retailer of sports and nutrition supplements operating primarily in Gulf Cooperation Council (GCC) countries. The company will use the investment the enter new markets and further expand its portfolio of businesses. Financial details of the transaction were not disclosed. Read More
Long Hill Capital Management Reaches Final Close for Debut Fund with US$125M in Commitments (Asia)
China-focused venture capital firm Long Hill Capital Management has reached a final close for Long Hill Capital Venture Partners 1 with US$125 million in capital commitments. The fund will focus on early-stage investments in technology-enabled health care and consumer services companies in China. Investors in the fund include global venture capital firm New Enterprise Associates, development finance institution International Finance… Read More
Accion Venture Lab Exits Varthana (Asia)
Accion Venture Lab, the seed-stage investment vehicle of financial inclusion-focused investor Accion, has sold its stake in Varthana, an India-based provider of specialized loans and support to private schools, to an undisclosed investor. Accion Venture Lab originally invested in Varthana in May 2013. Financial details of the transaction were not disclosed. Read More
LeapFrog Investments Partially Exits IFMR Capital (Asia)
Emerging markets specialist private equity investor LeapFrog Investments has partially exited its stake in IFMR Capital, an India-based provider of capital market access to financial institutions serving low-income consumers. The exit is part of a larger deal in which Eight Roads Ventures, the proprietary investment arm of United States-based Fidelity International, will invest up to US$25 million in the company.… Read More
FIR Capital BZPlan Partially Exits Myreks (Latin America)
FIR Capital BZPlan, a partnership between Brazil-focused private equity firms FIR Capital Partners and BZPlan, has partially exited Myreks, a Brazil-based online platform for recommending e-commerce products, through the sale of a 10 percent stake. The transaction was part of a larger deal in which Brazil-based corporate management solutions developer Grupo Nexxera acquired a 40 percent stake and United States-based… Read More
American Capital Energy & Infrastructure Exits Four Energy Companies (Asia)
American Capital Energy & Infrastructure (ACEI) has exited all of its energy investments, which comprise holdings in four companies: Nigeria-based Azura Power Holdings, Senegal-based Taiba Ndiaye Wind Project, Jamaica-based BMR Energy and Indonesia-based Ankora Hydro. Global growth markets investor Actis acquired ACEI’s stake in Azura, and Actis’s portfolio company Lekela Power acquired ACEI’s co-development rights and sole rights to invest… Read More