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EMX Capital Acquires Mexico Unit of Kidde (Latin America)
Mexico-focused private equity fund manager EMX Capital has acquired the Mexico unit of fire and safety products, systems and service provider Kidde. The company manufactures smoke and carbon monoxide detectors, fire extinguishers and safety accessories for both homes and businesses. Financial details of the transaction were not disclosed. Read More
Bamboo Finance Invests US$6 Million in Colombia-based MovilRed (Latin America)
Bamboo Finance, a private equity firm specializing in investing in essential services sectors in emerging economies, has invested US$6 million as part of a Series B financing round for Colombia-based banking correspondent agent network MovilRed. The transaction was structured through Bamboo Finance Financial Inclusion Fund II. MovilRed offers financial and transactional services to consumers across Colombia. Read More
IDG Capital Partners Agrees to Participate in a Financing Round for Kingsoft Cloud Group (Asia)
Hong Kong-listed parent company Kingsoft, China-based investment entity ChinaAMC Special Investment and venture capital firm IDG Capital Partners have agreed to invest US$60 million in China-based cloud hosting, storage and database services company Kingsoft Cloud Group. Kingsoft will invest US$31.1 million, while ChinaAMC Special Investment and IDG will contribute US$26.31 million and US$2.59 million, respectively. Kingsoft Cloud Group will use… Read More
MCI Management Agrees to Sell Its 80 Percent Stake in Invia to Rockaway Capital (CEE and CIS)
Central and Eastern Europe-focused private equity group MCI Management has agreed to sell its 80 percent stake in Czech Republic-based online travel agency Invia to global venture capital firm Rockaway Capital for PLN270 million (approximately US$68 million). Including MCI’s stake, Rockaway Capital will acquire Invia for a reported total transaction value of PLN325 million (approximately US$82 million). MCI originally invested… Read More
CDIB Capital Invests US$30 Million in Anhui Dong Jin Renewable Resource Technology (Asia)
CDIB Capital, the international private equity arm of China Development Financial, has invested US$30 million in China-based recycled fiber, filament and fabric manufacturer Anhui Dong Jin Renewable Resource Technology (Dong Jin). The transaction was structured through CDIB Capital Asia Partners Fund. With CDIB Capital’s support, Dong Jin will expand its production capacity and enhance research and development efforts. Read More
XSML’s African Rivers Fund Reaches a US$45 Million First Close (Sub-Saharan Africa)
Central Africa-focused private equity firm XSML has reached a first close for its African Rivers Fund with US$45 million in capital commitments. The fund will provide debt, equity and mezzanine financing to small- and medium-sized enterprises in Central Africa. Investors in the fund included development finance institutions International Finance Corporation, FMO, CDC Group, Agence Française de Développement’s FISEA Fund and… Read More
Axon Partners Group Invests US$2 Million in Mercadoni (Latin America)
International investment group Axon Partners Group has invested US$2 million in Mercadoni, a food delivery platform operating in Mexico and Colombia. The transaction was structured through Axon’s Amerigo Pacific Ventures fund vehicle. With Axon’s support, Mercadoni plans to consolidate its market position in Mexico and Colombia. Read More
Amwal AlKhaleej Sells Its Stake in Sarwa Capital to the Egyptian-American Enterprise Fund (MENA)
Middle East-focused private equity firm Amwal AlKhaleej has sold its stake in Egypt-based consumer finance company Sarwa Capital, the parent company of car loan company Contact Car Trading, to the Egyptian-American Enterprise Fund, an investment fund set up by the United States government. Amwal AlKhaleej originally acquired a majority stake in Contact Car Trading in 2008 through Amwal II. Since… Read More
KFit Raises a US$12 Million Series A Round Led by Venturra Capital (Asia)
Southeast Asia-focused venture capital firm Venturra Capital has led a US$12 million Series A financing round for Malayasia-based mobile fitness-sharing platform KFit. Venture capital firms Sequoia Capital India, 500 Startups and Intres Capital’s Axiata Digital Innovation Fund also participated in the round, as did global trading firm Susquehanna International Group. KFit intends to use the new capital to expand within… Read More
Wamda Capital, twofour54 and Endeavor Catalyst Lead a Series B Round for Mumzworld (MENA)
MENA-focused venture capital firm Wamda Capital, United Arab Emirates-based media and entertainment free zone twofour54 and non-profit Endeavor’s co-investment vehicle Endeavor Catalyst have led a Series A funding round for Mumzworld, a United Arab Emirates-based bilingual e-commerce site that focuses on products for mothers, babies and children. Mumzworld plans to use the new capital for expansion across the Gulf region,… Read More
Advent International Agrees to Acquire an Eight Percent Stake in QuEST Global (Asia)
Global private equity firm Advent International has agreed to acquire an eight percent stake in Singapore-based engineering solutions provider QuEST Global for a reported US$80 million. The transaction values the company at around US$1 billion. Advent International originally bid for the company in December 2015, but lost to a consortium that included global private equity firm Bain Capital and the… Read More
Sequoia Capital India V Reaches a US$920 Million Final Close (Asia)
Venture capital firm Sequoia Capital has reached a final close for its latest India-focused fund, Sequoia Capital India V, with US$920 million in capital commitments. The fund, which will primarily target companies in India, also includes a minority allocation to Southeast Asia. Institutional investors committed US$875 million to the fund, with a GP commitment of US$45 million rounding out the… Read More