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.
TGVest Capital Leads USD70m Series B for Taiwan’s TXOne Networks
TGVest Capital led a USD70m Series B for TXOne Networks, a Taiwan-based cybersecurity platform for industrial loT, with participation from KAiA Capital, CDIB Capital Group, MediaTek and others, and follow-on from JAFCO Asia, Purestone Silks Investment Fund and others. Read More
Mexico’s Venture-backed Covalto To List on Nasdaq via SPAC Merger
Covalto, a Mexico-based digital and banking services platform formerly known as Credijusto, agreed to list on the Nasdaq through a SPAC merger with LIV Capital Acquisition Corp. II (LIVB). The fintech’s listing accompanies USD60m in financing, including USD30m in new financing from LIVB sponsor LIV Capital. Covalto is backed by Goldman Sachs, KASZEK, Argo Ventures, QED Investors and others, and… Read More
3TS Capital Invests in Romania’s evoMAGfor ~USD2m
3TS Capital, through its second Catalyst Romania fund, acquired a minority stake in evoMAG, a Romania-based e-commerce retailer, for EUR2m (~USD2m). Read More
Verdant Capital To Provide USD7m Debt for Uganda’s Watu Credit
Verdant Capital, through its Hybrid Fund, agreed to provide USD7m in subordinated debt to Watu Credit, a Uganda-based provider of two-wheeler financing for motorbike taxi drivers. Read More
Argentina’s Pomelo Raises USD15m Series A+ from Monashees, SciFi, Index, Others
Pomelo, an Argentina-based payments infrastructure platform for fintechs launching prepaid cards and credit cards, raised a USD15m Series A extension with participation from Section 32 and follow-on from Monashees, SciFi and Index Ventures. Tiger Global led a USD35m Series A in November 2021. Read More
Tiger Global Leads USD22.6m Series B for India’s Jar
Tiger Global led a USD22.6m Series B at a reported USD300m valuation for India-based fintech Jar with participation from Folius Ventures, Panthera Capital, Prophetic Ventures, Yes VC, Adam Nash (WealthFront) and Zachary Hargreaves (Founders Fund) and follow-on from Arkam Ventures, Rocketship.vc and WEH. Read More
Blackstone Sells 13.6% Stake In India’s Sona BLW for ~USD504m
Blackstone sold a 13.6% stake in India-listed auto parts maker SONA BLW Precision Forgings for over INR40b (~USD504m) through open market transactions. Blackstone acquired the company from JM Financial Group in July 2019 for INR12.1b (~USD176m) and sold a partial stake through SONA BLW’s INR56b (~USD749m) IPO in June 2021. Read More
Valor Capital Group Leads ~USD3.3m Seed Round for Brazil’s Quaddro
Valor Capital Group led a BRL17m (~USD3.3m) seed round for Quaddro, a Brazil-based business management platform, with participation from Bridge and angels and follow-on from NXTP and Grão. Read More
Singapore’s GRAAS Raises USD40m Series A from Kejora, Integra Partners, Yuj Ventures, AJ Capital and Angels
GRAAS, a Singapore-based e-commerce marketing platform, has raised a USD40m Series A led by Galaxy, an SPV owned by Kejora; Performa, an SPV led by a Europe-based asset manager; Integra Partners; Yuj Ventures and AJ Capital. Angels also participated in the round. Read More
Stride Ventures Reaches USD200m Final Close for Second Venture Debt Fund
Stride Ventures reached a USD200m final close for its second venture debt fund. Fund II launched in May 2021 with a INR10b (~USD126m) target and reached a first close in August 2021 at INR5.5b (~USD74m). Stride invests in the consumer, fintech, agritech, B2B commerce, healthtech, B2B SaaS, mobility and energy sectors. Read More
Apollo Global Management Acquires 11.1% Stake in UAE’s Aldar Investment Properties for USD400m
Apollo Global Management acquired an 11.1% stake in Aldar Investment Properties, asubsidiary of UAE-listed real estate developer Aldar Properties, for USD400m. The deal is part of Apollo’s USD1.4b investment commitment to Aldar Properties announced in February. Read More
Denham Capital To Sell Nexif Energy’s Portfolio of Australian and SE Asia Assets to Thailand’s RATCH Group for USD605m
Denham Capital agreed to sell Nexif Energy, a renewables-focused power development and investment platform operating in Southeast Asia and Australia, to Thailand’s RATCH Group at a transaction equity value of USD605m and an enterprise value of more than USD1b. Denham established Nexif in August 2015 through its Sustainable Infrastructure platform. Read More