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XSML Invests in Democratic Republic of the Congo-based Institut Aurora & B.I.S. (Sub-Saharan Africa)
Central Africa-focused private equity firm XSML has invested in two separate Democratic Republic of the Congo-based companies: Institut Aurora, a nursery, primary and secondary education provider, and B.I.S., a generic pharmaceutical manufacturer. The transactions were structured through XSML’s African Rivers Fund. Institut Aurora plans to use the new capital to expand its capacity from 500 to 1,500 students, while B.I.S.… Read More
IDG Ventures India & Inventus Capital Participate in Financing Rounds for HealthifyMe & Unbxd (Asia)
Venture capital firms IDG Ventures India, Inventus Capital and Blume Ventures have invested US$6 million in a Series A round for India-based Caeruz Ventures, operator of HealthifyMe, a health and fitness mobile app. The company plans use the capital to improve its technology and further develop its digital coaching platform. Separately, IDG Ventures, Inventus, venture capital firm Nirvana Venture Advisors… Read More
Baring Private Equity Asia to Acquire a 35 Percent Stake in TELUS International (Asia)
Asia-focused alternative asset management firm Baring Private Equity Asia has agreed to acquire a 35 percent stake in Philippines-based business process outsourcing company TELUS International. The agreement values the company at approximately US$1 billion. With Baring Private Equity Asia’s support, TELUS International plans to expand its operations and invest further in the Asia-Pacific region. The transaction is subject to customary… Read More
China-based Ant Financial Closes a US$4.5 Billion Series B Funding Round (Asia)
Ant Financial, a China-based affiliate of e-commerce company Alibaba Group, has closed a US$4.5 billion Series B funding round at a reported enterprise valuation of close to US$60 billion. Investors in the round included China Investment Corporation’s affiliate CIC Capital and China Construction Bank’s subsidiary CCB Trust, as well as existing investors: insurance company China Life Insurance, Postal Savings Bank… Read More
Lenskart Raises a Series D Round from IFC, TPG Growth, Adveq Management & IDG Ventures India (Asia)
Lenskart, an India-based eyewear manufacturer, distributor and retailer, has raised INR4 billion (approximately US$60 million) in a Series D round led by development finance institution International Finance Corporation (IFC). Additional investors in the round included private equity firms TPG Growth and Adveq Management, venture capital firm IDG Ventures India and two individual investors. IFC contributed US$25 million to the round.… Read More
The Abraaj Group Exits Unimed via an IPO on the Tunis Stock Exchange (MENA)
Global growth investor The Abraaj Group has exited its investment in Tunisia-based pharmaceutical company Unité de Fabrication de Médicaments (Unimed) through an initial public offering (IPO) on the Tunis Stock Exchange. The IPO was priced at TND11.8 (approximately US$5.91) per share, implying a market capitalization of TND300 million (approximately US$150 million). Abraaj originally invested in the company in 2011. Financial… Read More
Southern Cross Group Agrees to Acquire Petrobras Chile Distribución for US$490m (Latin America)
Latin America-focused private equity firm Southern Cross Group has agreed to acquire 100 percent of Petrobras Chile Distribución (PCD), the Chile-based distribution subsidiary of Brazilian state-owned oil company Petrobras, for approximately US$490 million. PCD owns 279 service stations, eight fuel distribution terminals, operations in 11 airports, one lubricants plant and stakes in two logistics companies. The transaction is subject to… Read More
CDIB Capital Invests in Best Logistics Technologies (Asia)
CDIB Capital, the international private equity arm of China Development Financial, has participated in a US$45 million investment in China-based integrated logistics and supply chain management service provider Best Logistics Technologies. Other co-investors in the round were not disclosed. Best Logistics plans to use the capital to expand core operations and develop adjacent business initiatives. Read More
Adenia Partners Invests in Pharmaceutical Distributor Opham (Sub-Saharan Africa)
Adenia Partners, a private equity fund manager focused on growth opportunities and mid-cap buyouts in Sub-Saharan Africa, has backed Opham, a Madagascar-based pharmaceutical products wholesaler. The transaction was structured through Adenia Capital III. Development finance institution FMO and a family office also participated in the round. Financial details of the transaction were not disclosed. Read More
IDFC Alternatives Invests US$70 Million to Form an India-focused Renewable Energy Platform (Asia)
India-focused private equity firm IDFC Alternatives has invested approximately US$70 million in a portfolio of operating solar and wind assets to kick-start the formation of an India-focused renewable energy platform. IDFC Alternatives will structure the platform similar to Highway Concessions One, its platform for managing road assets. The transaction is subject to regulatory approval. Read More
Gulf Capital Acquires 100 Percent of Food and Beverage Distributor Multibrands Trading (MENA)
Middle East-focused alterative investment firm Gulf Capital has acquired 100 percent of Saudi Arabia-based food and beverage distribution company Multibrands Trading. Gulf Capital plans to grow the business through geographic diversification and product expansion. Financial details of the transaction were not disclosed. Read More
Morgan Stanley PE Asia Partially Exits AMTD to China Minsheng International and LR Capital (Asia)
Asia-Pacific-focused private equity investor Morgan Stanley Private Equity Asia (MSPEA) has partially exited Hong Kong-based financial advisor AMTD to China-based investment firms China Minsheng International and LR Capital Group. With Minsheng and LR Capital’s entry, MSPEA reduced its holding in AMTD to 9.9 percent, returning a reported US$94.2 million including dividends. MSPEA originally acquired a majority stake in the company… Read More