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Varthana Raises an INR930 Million Series B Round from Zephyr Peacock India and Others (Asia)
Private equity firms Zephyr Peacock India and Kaizen Private Equity have led an INR930 million (approximately US$14 million) Series B financing round for India-based non-banking finance company Thirumeni Finance, which operates under the name Varthana. Private equity firm Elevar Equity and philanthropic investment firms LGT Venture Philanthropy and Omidyar Network also participated in the round. The company expects to secure… Read More
ADB and JICA Establish a US$1.5 Billion Fund to Invest in Private Infrastructure
Development finance institution Asian Development Bank (ADB) and Japanese government agency Japan International Cooperation Agency (JICA) have agreed to establish a new fund to support private infrastructure investments across Asia and the Pacific. The fund, Leading Asia’s Private Infrastructure (LEAP), will be capitalized by US$1.5 billion in equity from JICA and will be managed by ADB’s Private Sector Operations Department.… Read More
SBI Ven Capital Invests US$10 Million in Bank Index Selindo (Asia)
SBI Ven Capital, the overseas private equity arm of SBI Holdings, has invested a reported US$10 million in Indonesia-based commercial lender Bank Index Selindo. The transaction was structured through SBI FMO Emerging Asia Financial Sector Fund. Bank Index, which was established in 1993, plans to launch online and mobile banking platforms within the next one to two years. Read More
Vantage Capital Provides US$20 Million of Expansion Funding to Landmark Africa (Sub-Saharan Africa)
Pan-African mezzanine fund manager Vantage Capital has provided US$20 million of expansion funding to Nigeria-based property developer Landmark Africa. The transaction was structured through Vantage Capital Fund III. Landmark Africa has a portfolio of more than 130,000 square meters of mixed-use office, residential and leisure facilities and is currently building Landmark Village, a mixed-use development in Lagos. Read More
Warburg Pincus Participates in a US$300 Million Series C Financing Round for Mofang Apartments(Asia)
Global private equity firm Warburg Pincus has participated in a US$300 million Series C financing round for China-based for-rent apartment operator Mofang Apartments. The round was led by China-based financial conglomerate AVIC Trust. Mofang, which operates 150 apartment complexes in 15 Chinese cities, plans to use the new capital to introduce new products and sub-brands. Read More
Equator Capital Partners & Progression Capital Africa Invest in Jamii Bora Bank (Sub-Saharan Africa)
Impact fund manager Equator Capital Partners and private equity firm Progression Capital Africa have invested KES1.2 billion (approximately US$12 million) in Kenya-based financial institution Jamii Bora Bank. The transaction was structured through Equator Capital Partners’ ShoreCap II and Progression Capital Africa’s Progression Eastern African Microfinance Equity Fund. Jamii Bora Bank will use the new funding to expand its reach to… Read More
Mediterrania Capital Partners & EuroMena Funds Back BS Invest, CAP Retail & Investex Algérie(MENA)
Private equity firms Mediterrania Capital Partners and the EuroMena Funds have acquired minority stakes in three retail companies: Tunisia-based BS Invest, Morocco-based CAP Retail and Algeria-based Investex Algérie. The transactions were structured through Mediterrania Capital Partners' MC II and the EuroMena funds' EuroMena III. The retail companies collectively distribute 11 apparel brands and operate 76 sales outlets. With support from… Read More
Aavishkaar Invests LKR300 Million in Sri Lanka-based MA’s Foods (Asia)
South- and Southeast Asia-focused impact fund advisory firm Aavishkaar has invested LKR300 million (approximately US$2 million) in Sri Lanka-based food manufacturer MA’s Foods. The transaction was structured through Aavishkaar Frontier Fund. MA’s Foods, which markets a portfolio of organic, fair-trade and conventional gourmet meal solutions, plans to use the new capital to expand into northern Sri Lanka. Read More
Monk’s Hill Ventures Closes Its First Southeast Asia-focused Fund Above US$80 Million Target (Asia)
Venture capital firm Monk’s Hill Ventures has reached a final close for its first Southeast Asia-focused fund with more than US$80 million in capital commitments. Investors in the fund included Cisco’s corporate investment arm Cisco Investments, Singaporean sovereign wealth fund Temasek Holdings and Telstra’s corporate investment arm Telstra Ventures. The fund targets early-stage technology start-ups across Southeast Asia, as well… Read More
IDG Ventures India and Indian Angel Network to Invest INR80 Million in Little Black Book (Asia)
Venture capital firm IDG Ventures India and angel investment group Indian Angel Network (IAN) will invest a reported INR80 million (approximately US$1.2 million) in India-based Little Black Book, a curated online city and lifestyle guide. IDG and IAN will each contribute half of the total amount. Little Black Book will use the new capital to expand into new cities in… Read More
Liwwa Receives a US$2.3 Million Financing Round from Silicon Badia and DASH Ventures (MENA)
Early-stage technology investor Silicon Badia has led a US$2.3 million financing round for Jordan-based marketplace lender Liwwa with participation from venture capital firm DASH Ventures. Silicon Badia structured its contribution through its Badia Impact Fund. Liwwa will use the new funds to grow its underwriting capacity in Jordan and the MENA region and to open a software development and data… Read More
Cathay Capital Private Equity Invests in ABS (Asia)
Cross-border private equity firm Cathay Capital Private Equity has completed an investment in China-based home furnishing product retailer ABS. The transaction was structured through Sino-French SME Fund. Cathay Capital plans to leverage its home furnishing industry resources in China and France to assist ABS’s cross-border development. Financial details of the transaction were not disclosed. Read More