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LeapFrog Investments and Prudential Financial Launch an Investment Vehicle (Sub-Saharan Africa)
Emerging markets financial services investor LeapFrog Investments and global insurance company Prudential Financial have launched a US$350 million investment vehicle targeting life insurance companies in Africa. The vehicle, which will be managed by LeapFrog, will invest in markets including Ghana, Kenya and Nigeria over a three- to five-year period. Read More
LitCapital Exits Its 33.3 Percent Stake in Plastic Bottle Manufacturer Putokšnis (CEE and CIS)
Lithuania-focused growth capital firm LitCapital has sold its 33.3 percent stake in Lithuania-based plastic bottle manufacturer Putokšnis to 3 Rill, a holding company owned by Putokšnis’s chairman and majority shareholder Alvydas Stulpinas. LitCapital originally invested in the company in June 2011 through its fund LitCapital I. Financial details of the transaction were not disclosed. Read More
Apis Partners Invests in India-based Electronic Payment and Services (Asia)
Apis Partners, a private equity asset manager focused on financial services in Africa and Asia, has acquired a minority stake in Electronic Payment and Services (EPS), an India-based ATM outsourcing and payments company. Apis has reportedly agreed to invest US$35 million in the company, of which US$25 million was paid in an initial tranche. The transaction was structured through Apis… Read More
Omidyar Network Invests US$5 Million in Mobile Software Developer Indus OS (Asia)
Philanthropic investment firm Omidyar Network has led a US$5 million Series A financing round for India-based mobile software developer Indus OS. The company, which produces software to make smartphones compatible with several local languages and more user-friendly for India’s rural population, will use the new capital to build out its software, grow its team and expand internationally. Read More
Affinity to Sell Its Majority Stake in Digital Music Company Loen Entertainment to Kakao (Asia)
Asia-focused private equity firm Affinity Equity Partners has agreed to sell its 61.4 percent stake in South Korea-listed digital music company Loen Entertainment to South Korea-listed media company Kakao, as part of Kakao’s acquisition of a 76.4 percent stake in the company for US$1.6 billion. As part of the deal, Affinity will reportedly receive US$748 million in cash as well… Read More
Bridgepoint Acquires Poland-based Smyk (CEE and CIS)
International private equity group Bridgepoint has acquired Poland-based children’s apparel and toy retailer Smyk in a transaction totaling EUR247 million (approximately US$269 million), including debt, from Poland-listed retail company Empik Media & Fashion. Cornerstone Partners, a Poland-based private equity firm, also participated in the deal and acquired a minority stake in Smyk. Bridgepoint’s portion of the transaction was structured through… Read More
Azura-Edo Independent Power Project Reaches a US$876 Million Financial Close (Sub-Saharan Africa)
West Africa-focused principal investment firm Amaya Capital and Nigeria-based power development company Azura Power have reached a US$876 million financial close for the Azura-Edo Independent Power Project (IPP), a 450MW gas-fired open cycle power plant in Nigeria. The financing for the Azura-Edo IPP involved US$190 million in equity and US$686 million in debt from a consortium of local and international… Read More
ChrysCapital Reaches a US$350 Million First Close for Its Seventh Fund (Asia)
India-focused private equity firm ChrysCapital has reached a first close for its seventh fund with US$350 million in capital commitments. The fund is targeting US$600 million with a hard cap of US$650 million. The India-dedicated fund will make investments ranging from US$20 million to about US$100 million in a variety of sectors, including healthcare, financial services, business services and consumer… Read More
Vantage Capital Closes Its Third Mezzanine Fund (Sub-Saharan Africa)
Pan-African mezzanine fund manager Vantage Capital has reached a final close for its third mezzanine fund, Vantage Mezzanine Fund III, with ZAR3.7 billion (approximately US$224 million) in capital commitments, exceeding the fund’s target. The fund will allocate US$150 million for investments outside of South Africa, and more than ZAR1 billion (approximately US$61 million) for companies in South Africa. Read More
NSI Ventures, Digital Media Partners and 500 Startups Participate in a Series A Round (Asia)
Grain, a Singapore-based food delivery startup, has raised a reported SGD2.45 million (approximately US$1.7 million) in a Series A financing round led by Southeast Asia-focused early-stage technology investor NSI Ventures. Venture capital firms Digital Media Partners and 500 Startups also participated in the round, along with angel investor Ivan Lee. Grain plans to use the new funding to expand its… Read More
Temasek, March Capital and Warburg Pincus Invest INR9.5 Billion in CarTrade (Asia)
India-based online auto classifieds company CarTrade has raised INR9.5 billion (approximately US$142 million) in a funding round led by Singaporean sovereign wealth fund Temasek and global venture investment firm March Capital. Existing investor global private equity firm Warburg Pincus also participated in the round. CarTrade plans to use the new capital to diversify and strengthen its offerings for consumers and… Read More
Lok Capital and Aspada Investment Advisors Invest in Siddhivinayak Agri Processing (Asia)
Venture capital firm Lok Capital has led a Series B financing round for India-based agriculture processing and distribution company Siddhivinayak Agri Processing (SV Agri). Existing investor Aspada Investment Advisors, an investment firm focused on small- and medium-sized enterprises in India, also participated in the round. SV Agri plans to use the capital to expand its procurement operations and scale up… Read More