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BOV Capital Reaches First Close for Sri Lanka-focused Venture Capital Fund (Asia)
BOV Capital, a Sri Lanka-focused venture capital firm, has reached an initial close for its first fund with INR300 million (approximately US$4.5 million) in capital commitments. Investors in the fund, which has an INR1 billion (approximately US$14.9 million) target, include a number of Indian high net-worth individuals and additional investors from Singapore. The fund will focus on business-focused software-as-a-service startups… Read More
IDG Capital Partners Reaches US$1 Billion Final Close for IDG Capital Fund III (Asia)
China-focused investment firm IDG Capital Partners has reached a final close for IDG Capital Fund III with US$1 billion in capital commitments. The fund, which was raised in partnership with United States-based venture capital investor Breyer Capital, will focus on investing in technology, media and telecommunications, health care, energy and consumer products in China, as well as in global companies… Read More
FIR Capital BZPlan Sells Brazil-based Logistics Company Axado for BRL26 Million (Latin America)
FIR Capital BZPlan, a partnership between Brazil-focused private equity firms FIR Capital Partners and BZPlan, has sold its stake in Brazil-based freight management company Axado to Argentina-based e-commerce company Mercado Libre for BRL26 million (approximately US$7.9 million). FIR Capital BZPlan originally invested in the company in 2013 in a transaction structured through Fundo SC, an investment vehicle focused on emerging… Read More
Mekong Capital Invests US$6.9 Million in Vietnam-based Wrap & Roll (Asia)
Vietnam-focused private equity firm Mekong Capital has invested US$6.9 million in Vietnam-based restaurant chain Wrap & Roll. The transaction was structured through Mekong Enterprise Fund III. Wrap & Roll, which currently operates 11 restaurants in Vietnam and four franchise locations in Singapore, plans to work with Mekong to grow internationally. Read More
Brookfield Asset Management Closes Brookfield Infrastructure Fund III (Global)
Brookfield Asset Management has reached a final close for Brookfield Infrastructure Fund III with US$14 billion in capital commitments. Investors in the fund include public and private pension plans, sovereign wealth funds, financial institutions, endowments, foundations and family offices, as well as Brookfield itself, which committed US$4 billion. The fund has a global remit and invests in core infrastructure assets… Read More
The Carlyle Group- and RRJ-backed China Logistics Property Holdings Completes IPO (Asia)
China Logistics Property Holdings, which is backed by global alternative asset manager The Carlyle Group and Asia-focused private equity firm RRJ Capital, has completed an initial public offering (IPO) on the Hong Kong Stock Exchange, raising approximately HKD3.4 billion (approximately US$434 million). The company will use approximately 15 percent the proceeds of the IPO for development of additional logistics park… Read More
IDG Ventures India Participates in Two Financing Rounds (Asia)
IDG Ventures India and philanthropic investment firm Omidyar Network have led a US$5 million Series A venture capital round for India-based Rejuvenate Solutions, operator of on-demand home services platform Zimmber. Existing investors Aarin Capital and Sherpalo Ventures also participated in the round. The company will use the fresh capital for marketing, brand building and technology optimization. Separately, IDG Ventures India… Read More
ARX Equity Partners CEE IV Reaches a EUR54 Million First Close (CEE and CIS)
ARX Equity Partners, a private equity fund manager focused on mid-sized companies in Central Europe, has reached a first close for ARX CEE IV at EUR54 million (approximately US$60 million), with total subscribed commitments of EUR66 million (approximately US$73 million). Investors in the fund included the development finance institution European Investment Fund, Czech Republic-based retail bank Ceska Sporitelna, investment firm… Read More
Vantage Capital Invests ZAR200 Million in New GX Capital (Sub-Saharan Africa)
Pan-African mezzanine fund manager Vantage Capital has provided a ZAR200 million (approximately US$13.6 million) expansion capital facility to South Africa-based investment company New GX Capital. The transaction was structured through Vantage Mezzanine Fund III. New GX Capital will use the new financing for additional investments in the telecommunications infrastructure, energy, waste management and information technology sectors in South Africa and… Read More
WDB Investment Holdings and Grovest Acquire 57.5 Percent Stake in Seed Engine (Sub-Saharan Africa)
WDB Investment Holdings, a South Africa-focused private investor focused on women’s empowerment, and Grovest, a South Africa-focused venture capital company, have acquired a 57.5 percent stake in South Africa-based Seed Engine, a company that offers training, support and funding mechanisms to startups. WDB and Grovest acquired 30 percent and 27.5 percent stakes, respectively. Financial details of the transaction were not… Read More
CMC Capital Partners Reaches a US$350 Million First Close for Its China Media Fund (Asia)
Media-focused alternative investment management company CMC Capital Partners has reached a first close for its second U.S. dollar-denominated China media fund with more than US$350 million in capital commitments. Existing investors accounted for the bulk of commitments. The fund has a hard cap of US$600 million and will focus on investments in the media, entertainment and technology sectors, with a… Read More
Farallon Capital’s FASS III Completes a US$1.12 Billion Final Close (Multi Region)
Global institutional investment management firm Farallon Capital Management has reached a final close for Farallon Asia Special Situations III and Farallon Asia Special Situations Master III (collectively FASS III), with a combined total of US$1.12 billion in capital commitments. Investors in FASS III included United States-based pension groups New York State Common Retirement Fund, Duke University Pension Plan, Massachusetts Institute… Read More