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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
The Abraaj Group Agrees to Acquire a Majority Stake in Quality CARE India (Asia, MENA)
Global growth markets investor The Abraaj Group has agreed to acquire a majority stake in India-based healthcare provider Quality CARE India from global private equity firm Advent International. Abraaj reportedly agreed to purchase a 72 percent stake in the company from Advent, valuing the company at more than US$269 million. The transaction is subject to customary closing conditions. Separately, Abraaj… Read More
LIV Capital Reaches an MXN2.88 Billion First Close for Mexico Growth Fund IV (Latin America)
Mexico-focused growth equity and venture capital investor LIV Capital has reached a first close on its Mexico Growth Fund IV with MXN2.88 billion (approximately US$168 million) in capital commitments. LIV Capital raised the first close amount through a Certificado de Capital de Desarrollo (CKD) on the Mexican Stock Exchange, representing the Mexican investment vehicle of Fund IV. LIV is targeting… Read More
Vantage Capital Exits Packaging Company TrenStar (Sub-Saharan Africa)
Pan-African mezzanine fund manager Vantage Capital has fully exited its investment in South Africa-based recyclable packaging company TrenStar. Following the exit, the new investors in TrenStar are South Africa-focused private equity fund manager Kleoss Capital, South Africa-based financial services and private equity firm Leaf Capital and TrenStar management. Kleoss Capital’s transaction was structured through Kleoss Capital Fund I. Vantage originally… Read More
Update: The Abraaj Group Acquires a Stake in Cellulose Processing (MENA)
Global growth markets investor The Abraaj Group has acquired a minority stake in Algeria-based baby diaper and feminine sanitary pad manufacturer and distributor Cellulose Processing (CEPRO) from North Africa-focused private equity firm Mediterrania Capital Partners. The transaction, which represents a full exit for Mediterrania, was structured through Abraaj’s Abraaj North Africa Fund II and Mediterrania’s Fons Mediterrania Capital. Abraaj intends… Read More
The Abraaj Group Acquires a Minority Stake in Algeria-based Cellulose Processing (MENA)
Global growth markets investor The Abraaj Group has acquired a minority stake in Algeria-based baby diaper and feminine sanitary pad manufacturer and distributor Cellulose Processing (CEPRO). The transaction was structured through Abraaj North Africa Fund II. Abraaj intends to work with CEPRO to increase the company’s production capacity and efficiency, diversify its product offering, enhance marketing efforts and expand its… Read More
Warburg Pincus, Matrix Partners, Sequoia Capital and GSR Ventures Invest in Yunniao.me (Asia)
Global private equity firm Warburg Pincus has led a US$100 million Series C financing round for Yunniao.me, a China-based online-to-offline courier service. Existing investors, venture capital firms Matrix Partners, Sequoia Capital and GSR Ventures, also participated in the round. Yunniao.me intends to use the new capital to improve research and development and to expand its services to more cities in… Read More
Zai Lab Raises More than US$100 Million from Advantech Capital, OrbiMed Advisors and Others (Asia)
Advantech Capital, a China-focused private equity fund, has led a Series B financing round of more than US$100 million for China-based biopharmaceutical company Zai Lab. Healthcare-focused investment firm OrbiMed Advisors and existing investors, venture capital firms Qiming Ventures, Sequoia Capital China and TF Capital, also participated in the round. Zai Lab intends to use the new capital to support its… Read More
Global Environment Fund Buys Stake in Tecverde Engenharia for BRL20 Million (Latin America)
Global alternative asset manager Global Environment Fund has invested BRL20 million (approximately US$5 million) in Brazil-based engineering company Tecverde Engenharia for a 35 percent to 40 percent stake. Tecverde produces building materials used in home construction. Read More