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Mid Europa Partners Holds Final Closing of Fund IV (CEE and CIS)
Central and Eastern Europe-focused private equity firm Mid Europa Partners has reached a final close on its latest fund, Mid Europa Fund IV, with EUR800 million (approximately US$1.07 billion) in capital commitments. The fund will be complemented by an additional pre-allocated co-investment program of EUR650 million (approximately US$873 million). Fund IV will target companies in high-growth sectors across Central and… Read More
African Frontier Capital Exits Electro-Maxx (Sub-Saharan Africa)
Africa-focused investment group African Frontier Capital has exited its stake in Uganda-based power generator Electro-Maxx. The company owns and operates two heavy fuel oil power plants in Tororo, Uganda, totaling 90 megawatts of installed capacity. Financial details of the transaction were not disclosed. Read More
Colombia-focused Velum Ventures Announces Its First Three Investments (Latin America)
Colombia-focused early-stage technology investor Velum Ventures has announced the commencement of operations of its maiden fund, Velum Early Stage Fund I, and the completion of investments into three Colombia-based companies: CiudadDeMascotas.com and FloresYMas.co, e-commerce sites specializing in pet products and floral arrangements, respectively, and Cocina33.com, an e-learning platform for culinary arts and gastronomy. Financial details of the three transactions were… Read More
Blackstone Announces Two New Partnerships in Sub-Saharan Africa and Southeast Asia (Asia, Sub-Saharan Africa)
Global investment and advisory firm The Blackstone Group has announced that Black Rhino, a South Africa- and Senegal-based infrastructure development company backed by Blackstone Energy Partners and affiliated funds, will partner with West African industrial conglomerate Dangote Industries to jointly invest up to US$5 billion over the next five years in energy infrastructure projects across Sub-Saharan Africa. The partnership will… Read More
PAG to Exit Haitong Securities via US$219 Million Sell Down (Asia)
Asia-focused alternative investment fund manager PAG will raise approximately HKD1.7 billion (approximately US$219 million) through the sale of 130.7 million shares in China-based financial services conglomerate Haitong Securities. PAG acquired 219.7 million shares in Haitong for US$300 million in the company’s April 2012 IPO and sold 89 million shares for HKD1.16 billion (approximately US$150 million) in February 2013. The latest… Read More
Tiger Global and Naspers Lead US$1 Billion Round for Flipkart (Asia)
Indian e-commerce platform Flipkart has raised US$1 billion in a new funding round co-led by existing investors alternative investment firm Tiger Global and global internet services company Naspers. Singapore’s sovereign wealth fund GIC, Accel Partners, DST Global, ICONIQ Capital, Morgan Stanley Investment Management and Sofina also participated in the round. The new funding, which will be used for long-term strategic… Read More
IDG Ventures India and Inventus Capital Partners Invest US$2 Million in Peel-Works Outsourcing (Asia)
India-based big data analytics company Peel-Works Outsourcing has raised US$2 million in a Series A financing round from venture capital firms IDG Ventures India and Inventus Capital Partners. Peel-Works intends to use the investment to expand its existing offerings, hire senior management and increase its technology and product development. Read More
Easy Taxi Raises US$40 Million from Series D Round (Latin America)
Easy Taxi, a Brazil-based mobile taxi application operating across Latin America, Africa, the Middle East and Asia, has raised US$40 million in a Series D financing round led by Russian venture capital firm Phenomen Ventures. Tengelmann Ventures, the investment arm of Germany-based multi-sector retailer Tengelmann Group, also participated in the round. Easy Taxi, which was founded in 2011 and is… Read More
Apax Partners to Invest in Cholamandalam Investment & Finance Company (Asia)
Private equity investment group Apax Partners will invest INR5 billion (approximately US$83 million) in Cholamandalam Investment & Finance Company (CIFCL), the financial services arm of India-based conglomerate Murugappa Group. Apax will subscribe to 50 million compulsorily convertible preference shares, which hold a face value of INR100 (approximately US$1.67) per share and are convertible at INR407 (approximately US$6.78) per share, giving… Read More
EQT Acquires a Majority Stake in Dataflow Verification Services (Asia)
Private equity group EQT has acquired a majority stake in Hong Kong-based Dataflow Verification Services from the company’s founders. The transaction was structured through EQT Mid Market Fund. Dataflow is a provider of immigration compliance and credential verification services to governments, government-sanctioned authorities and private institutions. Financial details of the transaction were not disclosed. Read More
Delivery Hero Buys ClickDelivery and PedidosYa, Provides Exits for Axon Partners, Kaszek Ventures and Atomico (Latin America)
Germany-based online food ordering company Delivery Hero has acquired majority stakes in two private equity-backed online food delivery services, Colombia-based ClickDelivery and Uruguay-based PedidosYa. The acquisitions provided an exit for the companies’ private equity investors: Axon Partners from ClickDelivery and Kaszek Ventures and Atomico from PedidosYa. Axon reportedly returned nearly four times its original May 2013 investment, which was structured… Read More
Northstar Holds a First Close for Its Fourth Fund (Asia)
Southeast Asia-focused private equity firm Northstar Group has reached a first close of approximately US$500 million on its fourth fund. Northstar aims to invest around 70 percent of Fund IV, which has a hard cap of US$1 billion, in Indonesia, with the remaining capital slated for deals in the rest of Southeast Asia. Read More