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Paragon Partners Invests INR1.1 Billion in Maini Precision Products (Asia)
India-focused private equity firm Paragon Partners has led an INR1.1 billion (approximately US$16.5 million) investment in India-based manufacturer and supplier of high-precision engineering components Maini Precision Products. Investors in Paragon’s fund also co-invested in the deal. The transaction included both a primary investment and a secondary component, which provided an exit to global private equity firm PineBridge Investments. Read More
CDH Sells Shares in WH Group and Closes CNY3.5 Billion Mezzanine Fund (Asia)
China-focused private equity firm CDH Investments has agreed to sell a 10.62 percent stake in China-based pork producer WH Group for approximately HKD9.3 billion (approximately US$1.2 billion) on the Hong Kong Stock Exchange. CDH continues to hold a 19.77 percent stake in the company. The firm sold 880 million shares to institutional investors, 292 million shares to a vehicle controlled… Read More
Alta Growth Capital Invests in Two Companies in Mexico (Latin America)
Mexico-focused private equity firm Alta Growth Capital has invested in two Mexico-based companies: Grupo Industrial Artes Graficas (AGH), a manufacturer of labels for consumer products packaging, and Grupo Bienestar (GEB), a fitness center operator. AGH plans to use the additional capital to fund an expansion of installed capacity in the company’s facilities; GEB also plans to use the new capital… Read More
Navis Capital Partners Acquires 20 Percent Stake in Alliance Cosmetics Group (Asia)
Southeast Asia-focused private equity firm Navis Capital Partners has acquired a 20 percent stake in Malaysia-backed make-up producer and distributor Alliance Cosmetics Group for MYR61.8 million (approximately US$15.4 million) from Malaysian government-backed private equity firm Ekuinas. In addition to its in-house trademark brand SilkyGirl, Alliance Cosmetics Group distributes global brands including Revlon and Wet n’ Wild in Malaysia, Singapore and… Read More
ChrysCapital Participates in INR3.64 Billion Pre-IPO Investment in RBL Bank; Existing PE-backers Exi
India-focused private equity firm ChrysCapital has participated in an INR3.64 billion (approximately US$54 million) pre-IPO investment in India-based lender RBL Bank. ChrysCapital invested INR190 million (approximately US$2.8 million). Other investors in the round included Azim Premji’s private investment arm PremjiInvest and Government Pension Fund Global, the Norwegian sovereign wealth fund. RBL Bank’s IPO was completed three days after ChrysCapital’s investment… Read More
TA Associates Invests in US$140 Million Financing Round for TCNS Clothing Company (Asia)
Global growth private equity firm TA Associates has invested in a US$140 million round for a reported 30 percent to 35 percent stake in India-based women’s apparel platform TCNS Clothing Company, allowing existing shareholder Matrix Partners to sell a 20 percent stake in the company. With TA Associates’ support, TCNS plans to expand into additional international markets. Read More
Southern Cross Agrees to Acquire Controlling Stake in Intellego (Latin America)
Latin America-focused private equity firm Southern Cross Group has agreed to acquire a controlling stake in Mexico-based IT consulting company Intellego. Established in 1999, Intellego operates in Mexico, Guatemala, Ecuador, Peru, Chile, Argentina and Brazil. Financial details of the transaction, which is subject to regulatory approval, were not disclosed. Read More
IFC, Omidyar, Quona Capital and Others Participate in US$15 m Series B Round (Sub-Saharan Africa)
Development finance institution International Finance Corporation (IFC) has led a US$15 million Series B round for South Africa-based financial technology company Zoona. Other participants in the round included financial services-focused venture capital firm Quona Capital, philanthropic investors Omidyar Network and the Lundin Foundation, South Africa-focused venture capital firm 4Di Capital and individual investor Patrick Pichette. Zoona will use the investment… Read More
Hike Raises More than US$175 Million Series D Round from Tencent, Foxconn and Others (Asia)
China-based investment holding company Tencent and Taiwan-based electronics manufacturer Foxconn have led a Series D round of more than US$175 million for India-based instant messaging application Hike. Other investors in the round included global investment firm Tiger Global Management, India-based conglomerate Bharti Enterprises and Japan-based telecommunications company Softbank. Hike was founded in 2012 and claims to have 100 million users. Read More
Cathay Capital, Matrix Partners & K2 Ventures Participate in CNY1 Billion Round for Meet You (Asia)
China-based Meet You, a female social network and mobile application, has raised CNY1 billion (approximately US$151 million) in new financing from existing investors, including cross-border private equity firm Cathay Capital Private Equity and venture capital firms Matrix Partners and China Renaissance K2 Ventures. Meet You, which is operated by Xiamen Information Technology, will use the proceeds to allow existing U.S.… Read More
Kerogen Capital Closes Kerogen Energy Fund II with US$830 Million in Commitments (Global)
Energy focused private equity fund manager Kerogen Capital has reached a final close for its Kerogen Energy Fund II. The fund, together with its parallel funds and related co-investment funds, closed with capital commitments of US$830 million. Investors in the fund include endowments, foundations, pension funds, insurance companies, funds of funds, international corporations and family offices. The fund will make… Read More
Zubr Capital Fund I Completes US$50 Million Close (CEE and CIS)
Belarus-focused fund manager Zubr Capital has completed a close for Zubr Capital Fund I with US$50 million in capital commitments. Development finance institution European Bank for Reconstruction and Development (EBRD) is the anchor investor of the fund and has committed US$12.5 million, an amount which may increase in the coming year. The fund will target Belarus-based companies in the IT,… Read More