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Sequoia Capital and Ascent Capital Exit Citrus Pay to PayU (Asia)
Venture capital firms Sequoia Capital and Ascent Capital have sold their stakes in India-based payments technology company Citrus Pay as part of the company’s 100 percent acquisition by PayU, a global online payment service provider owned by South Africa-based internet company Naspers, for US$130 million. Sequoia reportedly sold a 32 percent stake in the company, generating a 4x cash multiple;… Read More
Enterprise Investors Acquires Intersport (CEE and CIS)
Central & Eastern Europe-focused private equity firm Enterprise Investors has agreed to acquire 100 percent of the shares in Intersport, a sporting goods retailer in the Balkans, from Mercator Group, Intersport’s Slovenia-based parent company. Enterprise Investors will invest through Polish Enterprise Fund VII. The transaction will be valued at up to EUR 34.5 million (approximately US$39 million) and is conditional… Read More
DILA Capital Invests in Mexico-based Alameda (Latin America)
Mexico-focused venture capital firm DILA Capital has participated in an investment round for Mexico-based furniture and home decoration e-commerce company Alameda. Financial details of the transaction were not disclosed. Read More
SP Ventures Invests in Brazil-based Biotecnologia Pesquisa e Inovação (Latin America)
Brazil-focused venture capital firm SP Ventures has invested BRL2 million (approximately US$600,000) in Brazil-based genotyping and molecular biology services company Biotecnologia Pesquisa e Inovação (BPI). SP Ventures invested through Sao Paulo Innovation Fund. BPI is using the capital injection to open new headquarters in Botucatu, Brazil. Read More
LIV Capital to Invest in Central de Corretajes (Latin America)
Mexico-focused venture capital and growth equity fund manager LIV Capital has agreed to invest MXN450 million (approximately US$23 million) in Mexico-based financial markets infrastructure and brokerage company Central de Corretajes (CENCOR). CENCOR will use the capital to operate the Bolsa Institucional de Valores (BIVA) project, a new stock exchange that CENCOR is in the process of establishing in Mexico. Read More
DPI Acquires Stake in Atlantic Business International for US$100 Million (Sub-Saharan Africa)
Africa-focused private equity firm Development Partners International (DPI) has agreed to subscribe to a US$100 million capital increase in Côte d’Ivoire-based financial services company Atlantic Business International (ABI). DPI invested through African Development Partners II. ABI has active banking and insurance operations in Côte d’Ivoire, Senegal, Burkina Faso, Benin, Togo, Niger, Mali and Guinea Bissau. The company will use the… Read More
CGN Capital Partners Infrastructure Fund III Reaches Second Close (Asia)
CGN Private Equity Fund Management Company has reached a second close for CGN Capital Partners Infrastructure Fund III with CNY3.2 billion (approximately US$478 million) in commitments. Investors in the fund include Industrial and Commercial Bank of China, Agricultural Bank of China, Postal Savings Bank of China and People’s Insurance Company of China. The fund is sponsored by China-based nuclear power… Read More
India Value Fund Advisors Acquires Majority Stake in SeedWorks International for US$40 Million(Asia)
Private equity firm India Value Fund Advisors (IVFA) has acquired a majority stake in India-based seed manufacturer SeedWorks International for US$40 million. The transaction was completed via a secondary share purchase from an undisclosed seller. IVFA plans to work with SeedWorks to improve its sales and marketing efforts. Read More
The Abraaj Group Sells Stake in Koba to Capital Group Private Markets (Latin America)
Global growth markets investor The Abraaj Group has sold its stake in Colombia-based supermarket operator Koba International Group to emerging markets private equity group Capital Group Private Markets. Abraaj originally invested in the company in 2010 through its fund ALAF I; Capital Group invested through CIPEF VI. Koba operates a network of nearly 500 stores under the D1 brand. Financial… Read More
Sinovation Ventures Raises $674 Million in Commitments Across Two Funds (Asia)
China-focused venture capital firm Sinovation Ventures has closed two funds with total capital commitments of approximately US$674 million. The two funds include one U.S. dollar-denominated fund, which raised US$300 million, and an RMB-denominated fund which raised the equivalent of approximately US$374 million. The U.S. dollar fund was anchored by Taiwan-based Foxconn Technology Group. Sinovation plans to invest the funds in… Read More
Actis Agrees to Exit South Africa-based Shoe Retailer Tekkie Town (Sub-Saharan Africa)
Growth markets investor Actis has reportedly agreed to exit its 42.5 percent stake in South Africa-based shoe retailer Tekkie Town in a sale to South Africa-based holding company Steinhoff International. Actis originally acquired the stake in November 2014 for US$65 million. The investment is subject to approval by South Africa’s Competition Commission and is expected to close by the end… Read More
Health Care Services App HaloDoc Raises US$13 Million from Clermont, NSI Ventures and Others (Asia)
Indonesia-based health care services mobile application HaloDoc has closed a US$13 million Series A funding round led by Singapore-based private investment firm Clermont Group, with participation from venture capital firm NSI Ventures, ride-hailing platform Go-Jek and e-commerce company Blibli. The company offers mobile consultation with doctors and a service that connects users to pharmacies for personal delivery of medications. Read More