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India Value Fund Advisors and Former Godrej Executive to Buy ISS Hicare (Asia)
India Value Fund Advisors, a firm focused on investing in mid-sized businesses, and former Godrej Consumer Goods’ executive Arumugham Mahendran have joined together to buy India-based pesticide services company ISS Hicare. The transaction size is reportedly around INR1.5 billion (approximately US$24 million). ISS Hicare operates 52 branches in 27 cities, serving residential and commercial customers. Read More
Tata Opportunities Fund to Invest $60 Million in Varroc Group (Asia)
Tata Capital, the private equity arm of the Indian conglomerate Tata Group, will purchase a significant minority stake in India-based auto component manufacturer Varroc Group for US$60 million. The transaction will be structured through Tata Opportunities Fund. Varroc intends to use the capital injection to build new products and expand its presence in Europe and emerging markets. Read More
Navis Buys a Controlling Stake in Amazon Papyrus Chemicals Group (Asia)
Asia-focused private equity firm Navis Capital Partners has acquired a controlling interest in Hong Kong-based Amazon Papyrus Chemicals Group, a manufacturer that supplies chemical product formulations and technical support to paper companies. The investment will fund the company’s regional expansion plans and efforts to streamline operations. Financial details of the transaction were not disclosed. Read More
Lereko Metier Capital Growth Fund Exits Surgical Innovations (Sub-Saharan Africa)
Lereko Metier, a private equity fund manager focused on mid-cap buyout and growth opportunities in Southern Africa, has exited its stake in South Africa-based medical device distributor Surgical Innovations after healthcare group Ascendis Health, newly listed on the Johannesburg Stock Exchange, acquired Surgical Innovations for a total consideration of ZAR336 million (approximately US$30.3 million). The transaction was structured through Lereko… Read More
Banyan Capital Closes Its Debut China-focused Venture Capital Fund (Asia)
China-focused venture capital firm Banyan Capital has held a final close on its first venture capital fund, Banyan Partners Fund I, with US$206 million in capital commitments. More than 40 investors committed to the fund, including entrepreneurs, family offices, fund of funds, foundations and other institutional investors from China and the United States. The fund will focus on the technology,… Read More
BaltCap Exits Its 48 Percent Stake in Primekss (CEE and CIS)
BaltCap, a private equity and venture capital investor in the Baltic States, has sold its 48 percent shareholding in Latvia-based concrete floor producer Primekss. The transaction was structured through BaltCap Latvia Venture Capital Fund, which originally invested EUR1.4 million (approximately US$1.9 million) in Primekss in 2010, obtaining 48 percent of shares in the company. Financial details of the transaction were… Read More
TBL Mirror Fund Acquires a Minority Stake in Neo Amadiva (Sub-Saharan Africa)
TBL Mirror Fund, a private equity fund focused on small-and medium-sized enterprises in East Africa and Nigeria, has acquired a minority stake in Kenya-based Neo Amadiva, which operates salon outlets in Nairobi’s Riverside and Hurlingham suburbs. Neo Amadiva intends to use the capital injection to expand the salon chain across East Africa through new branches in urban areas. Financial details… Read More
Aavishkaar Backs Textiles Maker CAOS Apparels (Asia)
Aavishkaar Venture Management, a venture capital firm focused on India’s rural areas, has invested in India-based organic textiles manufacturer CAOS Apparels. The transaction was structured through Aaviskhaar’s second fund. The company plans to use the funds to expand its manufacturing capacity. Financial details of the transaction were not disclosed. Read More
iProf Learning Solutions Raises US$9 Million from Hobsons, IDG Ventures India and Norwest Venture Partners (Asia)
Hobsons, an education subsidiary of the Daily Mail and General Trust, has led a US$9 million Series B financing round in India-based learning management and test preparation provider iProf Learning Solutions. Existing investors, venture capital firms IDG Ventures India and Norwest Venture Partners, also participated in the round. In 2011, iProf raised INR220 million (approximately US$3.6 million) from IDG Ventures… Read More
Latin Idea Invests in Logistics Company Logyt (Latin America)
Latin Idea Ventures, a Mexico-based private equity fund manager, has invested in Mexico-based logistics company Logyt. The transaction was structured through Latin Idea Mexico Venture Capital Fund III. The company advises on supply chain solutions, from point of sale and customer development to manufacturing and procurement. Financial details of the transaction were not disclosed. Read More
Earlybird Venture Capital Holds US$110 Million First Close for Early-stage Fund (CEE and CIS)
European venture capital firm Earlybird Venture Capital has held a first close on its latest early-stage fund, Earlybird Digital East Fund (EDEF), with US$110 million in capital commitments. The fund, which is targeting US$130 million, will invest in consumer internet, mobile and enterprise technology companies originating from Turkey and CEE. Investors in the fund include development finance institutions European Bank… Read More
The Carlyle Group Partially Exits Hong Kong-listed Haier Electronics, Partners with Investec Asset Management to Invest in J&J Africa (Asia, Sub-Saharan Africa)
Global alternative asset manager The Carlyle Group has raised around US$285 million after selling part of its stake in Hong Kong-listed appliance maker Haier Electronics Group. Carlyle sold 100 million shares, by way of a block trade, at HKD22.10 (approximately US$2.85) a piece. In August 2011, Carlyle, structured through Carlyle Asia Partners III, had bought US$194 million worth of convertible… Read More