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Bridge Launches with US$24 Million in Funding (Asia)
Bridge, a financial services company focused on extending access to finance to customers in rural Philippines, has received a US$24 million investment from Accion, a global non-profit microfinance organization, development finance institutions FMO and DEG, Bamboo Finance, a global private equity firm specializing in microfinance, and Paul Kocourek, Bridge’s Founding Principal and Chairman. Bridge aims to provide capital, as well… Read More
Resource Capital Funds Invests in Provale (Latin America)
Mining-focused private equity firm Resource Capital Funds has invested in Brazilian calcium carbonate producer Provale. Provale plans to use part of the invested capital to build two new production plants. Financial details of the transaction were not disclosed. Read More
China’s Beisen Gets Series B Funding from Matrix, Sequoia (Asia)
U.S.-based venture capital firms Sequoia Capital and Matrix Partners have invested US$10 million in Series B financing in Beisen, a Chinese supplier of human resources testing tools and services. Beisen has developed a cloud-based platform offering integrated recruitment, evaluation and talent management services. The funding is intended for additional product development. Read More
Apax Partners Continues Exit from Apollo Hospitals, Sells Stake Worth US$83 Million (Asia)
Global private equity investment group Apax Partners has sold a 3.88 percent stake in Indian hospital operator Apollo Hospitals Enterprise to investment management firm Oppenheimer Funds for INR4.45 billion (approximately US$83 million). The transaction took place through a bulk share sale on the Bombay Stock Exchange and National Stock Exchange and follows a similar share sale undertaken by Apax in… Read More
U.K. Music Retailer HMV’s Hong Kong, Singapore Businesses Sold to Private Equity Firm (Asia)
AID Capital Partners, a China-based private equity firm, has purchased the Hong Kong and Singapore operations of U.K.-based music retailer HMV Group. AID acquired six retail stores and an e-commerce outlet in Hong Kong and two stores in Singapore, along with licenses in China, Taiwan and Macau. Financial details of the transaction were not disclosed. Read More
The African Agriculture Fund Concludes an Investment in Côte d’Ivoire (Sub-Saharan Africa)
The African Agriculture Fund (AAF), a private equity fund managed by Sub-Saharan Africa-focused fund manager Phatisa, has invested in Continental Beverage Company (CBC), a Côte D’Ivoire-based bottler and distributor of mineral water. CBC, a wholly owned subsidiary of West and Central African conglomerate The Teylium Group, markets the Olgane brand of mineral water. Financial details of the transaction were not… Read More
TPG Affiliate, Indonesia Tycoon Buy Charoen’s Stake in Hutchison Indonesian Unit (Asia)
A consortium of investors including Northstar Pacific Partners, the Indonesia-focused private equity affiliate of U.S.-based global private investment firm TPG, and businessman Garibaldi Thohir have reportedly purchased Indonesian telecommunications company Hutchison 3 Indonesia from Thai conglomerate Charoen Pokphand Group. Financial details of the transaction were not disclosed. Read More
GP Investments Invests BRL100 Million in EBAM (Latin America)
Brazil-focused alternative investment company GP Investments has invested BRL100 million (approximately US$50.4 million) in Empresa Brasileira de Agregados Minerais (EBAM), a Brazilian mining company and producer of mineral aggregates. GP Investments structured the transaction through Basel Participações, a holding company under its GP Capital Partners V private equity fund. GP had previously invested BRL64 million (approximately US$32.1 million) in EBAM… Read More
CLSA Capital Partners Invests in Scinor Water Limited (Asia)
CLSA Capital Partners, the alternative asset management arm of Hong Kong-based brokerage CLSA Asia-Pacific Markets, and venture capital firm Kleiner Perkins Caufield Byers have invested US$10 million in Chinese water membrane manufacturing company Scinor Water Limited. CLSA structured the transaction through its Clean Resources Asia Growth Fund private equity fund. The investment is intended to help Scinor expand its water… Read More
ChrysCapital Picks Up 10 Percent in Au Financiers for INR1.2 Billion (Asia)
Indian private equity firm ChrysCapital has invested INR1.2 billion (approximately US$22.1 million) in Indian non-banking finance company Au Financiers for a 10 percent stake. ChrysCapital acquired 7 percent from Indian private equity firm Motilal Oswal Private Equity and the remaining 3 percent from the company’s founders, the Agarwal family. Au Financiers provides loans for personal and commercial vehicles, businesses and… Read More
Mobile Payment Startup uBank Raises US$8 Million from Runa Capital (CEE and CIS)
Russian venture capital firm Runa Capital has invested US$8 million in Series A funding in uBank, a Russian developer of payment services for mobile devices. The service allows users to pay bills and transfer funds from smartphones or personal computers. uBank plans to expand its coverage to other CIS countries and to support international payments; the funding will be used… Read More
WestBridge, TA Associates Invest in Dr. Lal PathLabs (Asia)
India-focused private investment firm WestBridge Capital and U.S.-based private equity firm TA Associates have together invested US$44 million in Dr. Lal PathLabs, an Indian pathology and diagnostics company. WestBridge invested US$35 million from its evergreen fund WestBridge Crossover Fund, with TA Associates contributing US$9 million. Under the terms of the transaction, part of the stake acquired by the two firms… Read More