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Catalyst Principal Partners Acquires Controlling Stake in Zenufa Laboratories (Sub-Saharan Africa)
East Africa-focused private equity firm Catalyst Principal Partners has acquired a controlling stake in Tanzania-based pharmaceutical manufacturer Zenufa Laboratories. Established in 2005, Zenufa produces over-the-counter and prescription medicines for the Tanzanian market under brands including Zenadol, Zenkof, Zn-vital and Dr. Cold. Financial details of the transaction were not disclosed. Read More
Accion Venture Lab leads Financing Round for South Africa-based Lulalend (Sub-Saharan Africa)
Accion Venture Lab, the early-stage investment vehicle of financial inclusion-focused investor Accion, has led a financing round for South Africa-based online lending platform Lulalend. Impact investor Newid Capital and investment holding company Hallman Holding International Investment also participated in the round. Lulalend will use the new capital to expand its team and develop and scale its offerings. Financial details of… Read More
Dalus Capital Raises MXN950 Million for CKD (Latin America)
Latin America-focused venture capital and growth equity fund manager Dalus Capital has completed a MXN950 million (approximately US$50 million) Certificado de Capital de Desarrollo (CKD) offering through the Mexican Stock Exchange. The CKD, which operates similarly to a traditional growth fund with a duration of 10 years, will focus on investing in Mexico-based companies in the financial services and financial… Read More
Tigris Infrastructure Partners Invests US$30 Million in Yixing Jeffcon (Asia)
Tigris Infrastructure Partners, an Asia-focused infrastructure investment manager backed by Odyssey Capital and Macquarie Capital, has invested US$30 million in China-based wastewater treatment company Yixing Jeffcon. Tigris Infrastructure Partners made its commitment through the Tigris Water Investment Platform. With Tigris’ support, Jeffcon plans to expand outside of China. Read More
Investec Asset Management Backs Off-grid Solar Home Systems Company Mobisol (Sub-Saharan Africa)
Investec Asset Management’s African private equity arm has invested in Germany-based Mobisol, a provider of off-grid solar home systems in Africa. Development finance institutional DEG also participated in the transaction. Mobisol has installed more than 60,000 solar home systems in Tanzania and Rwanda and is entering the Kenyan market. Financial details of the transaction were not disclosed. Read More
IDFC Alternatives to Acquire 24 Megawatt Wind Power Project from Jindal Steel & Power (Asia)
India-focused private equity firm IDFC Alternatives has agreed to acquire a 24 megawatt wind power generation business in Maharashtra from National Stock Exchange-listed power generation company Jindal Steel and Power. IDFC will invest through India Infrastructure Fund II. Financial details of the transaction, which is subject to customary regulatory approval, were not disclosed. Read More
Hillhouse and Warburg Lead Series C Round for Mobike (Asia)
Global investment management firms Hillhouse Capital and Warburg Pincus have led a Series C round of more than US$100 million for China-based bike sharing mobile application Mobike. Venture capital firms Sequoia Capital and Qiming Venture Partners also participated in the round. Mobike was launched in December 2015 and has an estimated 200,000 registered users. Read More
DogHero Raises US$3.1 Million Round Led by monashees+ (Latin America)
Brazil-based pet-sitting marketplace DogHero has raised US$3.1 million in a new funding round led by Brazil-focused venture capital firm monashees+. DogHero previously raised seed capital in 2015 from Latin America-focused venture capital firm Kaszek Ventures. The company, which allows pet owners to find hosts willing to watch their pets, currently has 100,000 dogs registered on its platform and more than… Read More
Cauris Management Exits Atlantic Business International (Sub-Saharan Africa)
West Africa-focused private equity fund manager Cauris Management has sold its stake in Côte d’Ivoire-based banking group Atlantic Business International (ABI) to Morocco-based credit institution Banque Centrale Populaire. Cauris originally invested in ABI through Cauris Croissance II and reportedly generated a 1.7x cash multiple at exit. Separately, Cauris has sold its stake in Côte d’Ivoire-based Bridge Bank Group Côte d’Ivoire… Read More
Jacob Ballas Partially Exits India-based Vivimed Labs (Asia)
Private equity advisory firm Jacob Ballas Capital India has partially exited its investment in India-based active pharmaceutical ingredients and chemicals maker Vivimed Labs, selling an 8 percent stake on the Bombay Stock Exchange. Jacob Ballas, which originally invested through Jacob Ballas India Fund III, sold 6.5 million shares for INR10 (approximately US$0.15) each. Post transaction, Jacob Ballas holds a 5.1… Read More
The Abraaj Group Acquires Stake in Mexico-based Footwear Company Capa de Ozono (Latin America)
Global growth markets investor The Abraaj Group has acquired a minority stake in Mexico-based fashion footwear designer and retailer Capa de Ozono. Abraaj will work with the company to expand its network of stores and diversify its product categories and business lines. Financial details of the transaction were not disclosed. Read More
The Carlyle Group to Acquire Majority Stake in Amrod (Sub-Saharan Africa)
Global alternative asset manager The Carlyle Group has agreed to acquire a majority stake in South Africa-based promotional products and clothing supplier Amrod. Carlyle will invest from Carlyle Sub-Saharan Africa Fund, while the three founders of Amrod will reinvest alongside Carlyle. Financial details of the transaction, which is expected to close in 2016 and is subject to regulatory approvals, were… Read More