GPCA covers the latest fund, investment and industry news across our markets in two newsletters: NewsWatch is a weekly round-up of key transactions across asset classes; the Global Tech Brief is a bi-weekly review of tech transactions and innovations with cross-border applications. Subscribe in the left-hand sidebar.
Access past editions of NewsWatch here.
East Africa Capital Partners to Build Data Centers in Kenya and Tanzania (Sub-Saharan Africa)
East Africa Capital Partners (EACP), a venture capital fund manager focused on the technology, media and telecommunications sectors in the greater Eastern Africa region, is deploying KES4.6 billion (approximately US$48.4 million) to set up data centers in Kenya and Tanzania. EACP expects the projects in Mombasa and Dar es Salaam to be completed by the end of 2015, and intends… Read More
CITIC Capital Partners Fully Exits China Cinda Asset Management via Share Sale (Asia)
CITIC Capital Partners, the private equity arm of CITIC Capital, has exited its entire holding in China Cinda Asset Management, a China-based non-performing loan manager. CITIC has sold its remaining 1.96 percent stake in the company for HKD1.1 billion (approximately US$141 million). In March, CITIC exited a 3.28 percent stake in the company through a share sale on the Hong… Read More
Warburg Pincus Sells Its Stake in Metropolis Healthcare (Asia)
Global private equity firm Warburg Pincus has fully exited its 27 percent stake in Metropolis Healthcare, an India-based pathology diagnostic laboratory company, for US$90 million to the Shah family, promoters of the company, who were supported in the buyback by global investment firm KKR. Details regarding KKR’s involvement in the transaction were not disclosed. Warburg Pincus initially purchased its stake… Read More
Cordiant Capital Closes a US$15 Million Loan to SA Taxi Development Finance (Sub-Saharan Africa)
Cordiant Capital, a fund manager specializing in emerging markets investments, has closed a US$15 million loan to SA Taxi Development Finance, a South Africa-based mini-bus taxi finance provider. The loan was structured through Cordiant Emerging Loan Fund IV and is part of a six-year, US$36 million multi-currency loan facility with SA Taxi arranged by Dutch development bank FMO. Read More
500 Startups and DeNA Invest in Zeemi.tv and Blisby (Asia)
Venture capital firm 500 Startups and the venture arm of Japan-based e-commerce firm DeNA have participated in a seed investment round for two companies: Zeemi.tv, an Indonesia-based live-streaming entertainment company, and Blisby, a Thailand-based online marketplace for handicrafts. Zeemi.tv raised more than US$1 million and will use the fresh investment for marketing and technology improvements and for the development of… Read More
DST Global Leads an INR19.5 Billion Round for Ola (Asia)
ANI Technologies, operator of India-based taxi-booking platform Ola, has raised INR19.5 billion (approximately US$313 million) in a round of funding led by global venture capital firm DST Global, which contributed INR11.5 billion (approximately US$185 million). Other participants in the round included global investment firm Tiger Global, hedge fund Steadview Capital and global venture capital firm Accel Partners. Read More
Fanisi Capital Invests US$2.1 Million in European Foods Africa (Sub-Saharan Africa)
East Africa-focused private equity and venture capital investor Fanisi Capital has invested US$2.1 million in European Foods Africa, a Kenya-based food distribution and processing firm that sells pizzas, berries and fresh juice. The company intends to use the new investment to expand its business within Kenya. Read More
The Abraaj Group and TPG Invest in Kudu (MENA)
Kudu, a Saudi Arabia-based restaurant group, has raised sharia-compliant debt funding from global growth markets investor The Abraaj Group and global private investment firm TPG. The investment was structured through a vehicle jointly owned by Abraaj and TPG. Financial details of the transaction were not disclosed. Read More
IDG Capital Partners and SIG Asia Investment Participate in a Funding Round for 9fbank.com (Asia)
9fbank.com, a China-based online finance platform, has raised $110 million in a round of funding. Investors in the round included China-focused venture capital firm IDG Capital Partners; SIG Asia Investment, the venture capital and private equity arm of the Susquehanna International Group; China-based financial services holding company Ping An Insurance; Tsinghua University's joint ventures Incorp Capital and Union Fortune; fund… Read More
Denham Capital Sells Its Stake in Global Solar Development Company (Global)
Global energy-focused private equity firm Denham Capital has sold its stake in Fotowatio Renewable Ventures (FRV), a global solar development company with a portfolio spanning Australia, the Middle East, Africa and Latin America, to Abdul Latif Jameel Energy and Environmental Services, the energy and environmental services arm of Saudi Arabia- and Dubai-based conglomerate Abdul Latif Jameel. Qualitas Equity Partners, a… Read More
CDH-backed WoWo Completes a US$40 Million IPO (Asia)
WoWo, a China-based entertainment-focused e-commerce platform backed by China-focused private equity and venture capital firm CDH Investments and private investment firm Tianyou Investment, has raised US$40 million in an initial public offering (IPO). The company listed on the NASDAQ Stock Market on 8 April, selling four million shares at US$10 apiece. Neither CDH nor Tianyou disposed of any shares in… Read More
Vantage Capital and FMO Exit Plastic Polymer Manufacturer Safripol (Sub-Saharan Africa)
Pan-African mezzanine fund manager Vantage Capital and Dutch development bank FMO have exited their ZAR220 million (approximately US$31 million) investment in Safripol, a South Africa-based plastic polymer manufacturer. In 2007, Vantage Capital and FMO funded Thebe Investment Corporation, a South Africa-based black economic empowerment investment company, to acquire a stake in Safripol. Post-transaction, Thebe retains its stake in the company. Read More