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Ovum Hospitals Raises US$5 Million from IL&FS Investment Managers and Norwest (Asia)
India-focused private equity firm IL&FS Investment Managers and global venture capital firm Norwest Venture Partners have invested INR330 million (approximately US$4.9 million) in India-based Neonatal Care & Research Institute, an operator of pediatric and neonatal care units under the Ovum Hospitals brand. Ovum, which currently offers its services using an embedded model within two hospitals in the Bangalore area, plans… Read More
Redpoint E.Ventures Invests in Brazil-based Olist (Latin America)
Venture capital firm Redpoint e.ventures has bought a 20 percent stake in Olist, a Brazil-based company that helps small businesses to sell their products on e-commerce websites. Olist plans to use the capital raised for the development of data analysis tools and process automation. Financial details of the transaction were not disclosed. Read More
IFC Emerging Asia Fund Reaches First Close (Asia)
Development finance institution International Finance Corporation (IFC) has reached a first close for its IFC Emerging Asia Fund. Investors in the fund include Korea Development Bank and the Fiji National Provident Fund, as well as IFC, which committed US$200 million. The fund will target opportunities that align with IFC’s strategy for the region, including addressing the infrastructure deficit and helping… Read More
Partners Group to Back Taiwan-based Solar Power Development Platform (Asia)
Global private markets investment manager Partners Group has agreed to invest more than US$200 million for a controlling stake in a solar power development platform in Taiwan. Cathay Life Insurance is also acquiring a minority stake in the platform through a Partners Group-managed vehicle. The platform has entered into an agreement with Taiwan-based solar power plant developer Sinogreenergy to develop… Read More
KKR to Sell Stake in Gland Pharma to Fosun Pharmaceutical for US$576 Million (Asia)
Global investment firm KKR has agreed to sell its approximately 38 percent stake in India-based pharmaceutical company Gland Pharma to Shanghai Fosun Pharmaceutical, a subsidiary of China-based conglomerate Fosun International, as part of Fosun’s acquisition of an 86 percent stake in the company. The transaction value will total as much as US$1.26 billion, of which KKR’s proceeds could reach US$576… Read More
EMX Capital Acquires 100 Percent Stake in Consorcio Industrial Valsa (Latin America)
Mexico-focused private equity fund manager EMX Capital has acquired a 100 percent stake in Mexico-based aluminum products manufacturer Consorcio Industrial Valsa. With EMX Capital’s support, Valsa will expand operations, increase productivity and improve its customer service. Financial details of the transaction were not disclosed. Read More
CDH Investments Leads US$100 Million Investment in UBTECH Robotics (Asia)
China-focused private equity and venture capital firm CDH Investments has led a US$100 million funding round for China-based robot designer and manufacturer UBTECH Robotics. China-based investment bank CITIC Securities and other undisclosed investors also participated in the round. UBTECH plans to use the new capital for research and development, exploring more applications in new industries and building new research centers… Read More
Hamilton Lane Private Equity Fund IX Closes with US$516 Million in Commitments (Global)
Global private markets advisor Hamilton Lane has closed its latest global fund of funds Hamilton Lane Private Equity Fund IX with US$516 million in capital commitments, exceeding its original target of US$400 million. Investors in the fund include public and private pension funds, endowments, foundations and other institutions. The fund will primarily target funds focused on small- to mid-cap opportunities… Read More
Baring Vostok Sells Stake in Russia-based Cinema Chain Karo to UFG Private Equity (CEE and CIS)
Russia- and CIS-focused private equity firm Baring Vostok Capital Partners has sold its stake in Russia-based cinema chain Karo to UFG Private Equity, the buyout and growth capital arm of Russia-based alternative investment group UFG Asset Management. Both Baring Vostok and UFG were part of a consortium of investors that took control of Karo in 2012. Financial details of the… Read More
Kandeo Acquires Acceso Crediticio (Latin America)
Latin America-focused private equity firm Kandeo has reportedly acquired Peru-based automotive lender Acceso Crediticio for US$51 million. The transaction represents Kandeo’s first investment in Peru. Read More
Baring Vostok Capital Partners and Yandex Invest US$5.5 Million in Russia-based Doc+ (CEE and CIS)
Russia and CIS-focused private equity firm Baring Vostok Capital Partners has led a US$5.5 million funding round for Russia-based Doc+, a company that allows people to call doctors to their homes via a mobile application. Russia-based internet services company Yandex also participated in the round. Doc+ will use the capital to expand to new cities and invest in marketing. Read More
Consortium Invests in Suryoday Microfinance; Aavishkaar and Lok Capital Exit (Asia)
A consortium of investors has completed an INR2.25 billion (approximately US$34 million) financing round for India-based specialty lender Suryoday Microfinance. As part of the transaction, India-focused private equity firm Aavishkaar has fully exited the company and India-focused impact investment firm Lok Capital has partially exited its stake. Investors in the round included India-focused private equity firms Gaja Capital, ASK Pravi… Read More