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Omidyar Network Participates in a US$3 Million Series A Round for Overcart (Asia)
Philanthropic investment firm Omidyar Network has participated in a US$3 million Series A round for India-based Overcart, a marketplace for businesses with unboxed, refurbished, preowned and excess electronic products. Other investors in the round included JSW Group’s venture arm JSW Ventures and India-based investor Venture Works. Overcart will use the new capital to build out its hardware and software and… Read More
Metier Capital Growth Fund II Completes Additional Closes (Sub-Saharan Africa)
Metier, a private equity and alternative asset fund manager, has completed additional closes for Metier Capital Growth Fund II with more than ZAR2.5 billion (approximately US$170 million) in capital commitments. Investors in the fund included development finance institutions DEG, FMO, IFC and Proparco; frontier market investor Sarona Asset Management; Averroès Finance III, a fund sponsored by Proparco and France-based investment… Read More
African Infrastructure Investment Managers Sells Three Toll Roads (Sub-Saharan Africa)
Infrastructure investment firm African Infrastructure Investment Managers has exited three toll road projects in Southern Africa: N3 Toll Concession, Trans African Concessions and the South African Toll Road Company. AIIM originally invested in the projects through South Africa Infrastructure Fund (SAIF). The buying consortium included South African investment manager Public Investment Corporation, South African financial services firms Liberty Group and… Read More
500 Startups Invests in United Arab Emirates-based Joi (MENA)
Venture capital firm 500 Startups has invested in United Arab Emirates-based flower and gift online marketplace Joi. The platform will work with offline vendors who want to expand into online delivery. Financial details of the transaction, which was structured through 500 Startups’ global fund and 500 Falcons fund, were not disclosed. Read More
Joy Capital I Reaches a Final Close with US$200 Million in Capital Commitments (Asia)
India-based Bigtree Entertainment, which owns and operates online entertainment ticketing platform BookMyShow, has raised more than INR5.5 billion (approximately US$82 million) from growth-stage private equity firm Stripes Group, India-based media and entertainment conglomerate Network18 Group, global venture capital firm Accel Partners and Asia-focused private equity firm SAIF Partners. Founded in 1999 and re-launched in 2007, BookMyShow is present in more… Read More
NeoGrowth Raises a Financing Round from IIFL, Quona Capital, Omidyar Network & Other Investors(Asia)
India-based investor IIFL Private Wealth Management and financial services-focused venture capital firm Quona Capital have led a financing round for India-based loan provider NeoGrowth. Other investors included philanthropic investment firm Omidyar Network, India-focused investment firm Aspada Investment Advisors and impact investor Khosla Impact Fund. Quona Capital structured its contribution through the Accion Frontier Inclusion Fund. NeoGrowth has raised US$35 million… Read More
KKR Agrees to Sell Shares in China Greenland Rundong Auto (Asia)
Global investment firm KKR has agreed to sell 168 million convertible preference shares in China-based car dealership China Greenland Rundong Auto to the company’s founder for approximately US$76 million. Upon completion of the transaction, KKR’s holding in the company will fall from 27 percent to seven percent. KKR originally invested US$100 million in the company over four funding rounds between 2010… Read More
Tribeca Asset Management to Sell Its Stake in Petrolatina Energy (Latin America)
Colombian private equity fund manager Tribeca Asset Management has agreed to sell its 50.2 percent stake in Colombia-based oil and gas exploration, development and production company Petrolatina Energy (PELE) to Canada-based exploration and production company Gran Tierra Energy for US$264 million. Tribeca originally invested in PELE in 2008 in a transaction structured through Tribeca Fund I. The exit, which is… Read More
Small Enterprise Assistance Funds Backs India-based Synergy Kitchens & Hospitality (Asia)
SME-focused investment firm Small Enterprise Assistance Funds (SEAF) has invested in India-based Synergy Kitchens & Hospitality, a catering company and provider of on-site kitchens in hospitals, marketed under the brand name Rozzana. Financial details of the transaction, which was structured through SEAF India Agribusiness International Fund, were not disclosed. Read More
Warburg Pincus, Kedaara Capital, ChrysCapital, Motilal Oswal Private Equity & IFC Sell Stakes (Asia)
Private equity firms Warburg Pincus, Kedaara Capital and ChrysCapital and development finance institution International Finance Corporation (IFC) have partially exited their stakes in India-based lender Au Financiers alongside private equity firm Motilal Oswal Private Equity, which fully exited its stake. The deal was worth INR7.51 billion (approximately US$110 million). The transaction will help Au Financiers reduce foreign shareholding from 65… Read More
The Carlyle Group Invests in Peru-based Tourist Train Operator Inca Rail (Latin America)
Global alternative asset manager The Carlyle Group has invested in Inca Rail, a train operator in Peru that transports tourists to Machu Picchu. The investment was structured through Carlyle Peru Fund and Carlyle South America Buyout Fund. Carlyle will partner with Inca Rail’s current shareholders and management to improve the company’s customer service. Financial details of the transaction were not… Read More
Helios Investment Partners Completes an Investment in OVH Energy (Sub-Saharan Africa)
Africa-focused private investment firm Helios Investment Partners and Netherlands-based energy trader The Vitol Group have acquired a 49 percent stake in OVH Energy, the downstream business of Nigeria-based oil and gas company Oando. The transaction was structured as a US$210 million recapitalization through HV Investments II, a joint venture owned by Helios and Vitol. OVH’s assets comprise more than 350… Read More