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TVS Capital Sells Landmark Stake Back to Trent (Asia)
Trent, the retail arm of India’s Tata Group, is buying back the shares of its subsidiary Landmark, owned by Indian private equity firm TVS Capital, for INR840 million (approximately US$15.4 million). TVS Capital invested INR650 million (approximately US$11.9 million) in Landmark, a retailer of books, music and games, in 2009. Under the terms of the transaction, Trent is offering TVS… Read More
IFC Backs Joint Venture Between Ukrainian Fuel Retail Company Galnaftogaz and ADM Capital (CEE and CIS)
International Finance Corporation (IFC), the private sector development institution of the World Bank Group, will provide an US$85 million loan to Okkoskhidinvest (OKKO), a Ukrainian fuel retailer. Okkoskhidinvest is a joint venture between Ukrainian petroleum distributor Concern Galnaftogaz (GNG) and ADM Capital, a private equity investor focused on recovery and special situations in the emerging markets. ADM Capital previously invested… Read More
CDH Holds First Close on China Fund (Asia)
Chinese alternative asset fund manager CDH Investments has held a first close on its fifth China-focused private equity fund with US$1 billion in commitments. Institutional investors in CDH China Fund V, launched in September 2012, include the Government of Singapore Investment Corporation (GIC), Asia Alternatives and LGT Capital Partners. The fund is reportedly targeting US$2 billion in total commitments. CDH’s… Read More
Bessemer Invests in Anunta (Asia)
Global venture capital firm Bessemer Venture Partners has invested in India-based Anunta Technology Management Services as part of the company’s Series A financing round. Anunta provides software delivery services to companies developing mobile applications. Financial details of the transaction were not disclosed. Read More
Tata Capital Growth Fund Buys 14 Percent Stake in Star Health & Allied Insurance Company (Asia)
India-focused private equity firm Tata Capital has invested INR1.2 billion (approximately US$22.3 million) in Indian health insurer Star Health & Allied Insurance Company for a 14 percent stake. The investment was made through the Tata Growth Capital Fund. Prior investors in Star Health include private equity and venture capital firms Sequoia Capital and ICICI Venture Funds Management, which currently hold… Read More
GrowthGate Exits Investment in Saudi Steel Fabricator (MENA)
GrowthGate Capital Corporation, a growth investment firm focused on the Middle East and North Africa region, has exited its investment in Roots Steel International (RSI), a Saudi Arabia-based steel fabricator. GrowthGate sold its minority stake in RIS, in which it originally invested in 2010, to a consortium of majority shareholders. While financial details of the transaction were not disclosed, GrowthGate… Read More
Gulf Capital Invests in OCB Oilfield Services (MENA)
Middle East-focused private equity firm Gulf Capital has acquired a majority stake in United Arab Emirates-based oil and gas crew supply and related logistics provider OCB Oilfield Services. OCB provides companies in the oil and gas industries with outsourced human resources solutions and operates in the Middle East, Southeast Asia and Africa. Financial details of the transaction were not disclosed. Read More
Safer Taxi Gets US$4.2 Million Capital Injection (Latin America)
Safer Taxi, a Chile-based mobile taxi service application developer, has received a US$4.2 million investment from venture capital firms Otto Capital, Kaszek Ventures and Draper Associates. Safer Taxi allows its users to summon taxis through a smartphone application and has 2,250 registered taxis in Chile, Brazil and Argentina. Read More
Apax Sells 4.6 Percent in Apollo Hospitals for US$98 Million (Asia)
Global private equity investment group Apax Partners has sold an approximate 4.6 percent stake in Indian hospital operator Apollo Hospitals Enterprises through an open market share sale on India’s Bombay Stock Exchange for INR5.3 billion (approximately US$98 million). The shares represented approximately half of Apax’s stake in Apollo Hospitals, which stood at 9.67 percent before the transaction. Apax first invested… Read More
CDC Backs Sub-Saharan African Debt Capital Fund with US$30 Million Investment (Sub-Saharan Africa)
CDC, the development finance institution of the United Kingdom, has committed US$30 million to Investec Africa Credit Opportunities Fund 1, a corporate debt fund managed by South African investment firm Investec Asset Management. The fund, which is targeting up to US$350 million in total commitments, will provide long-term capital to private sector companies in Sub-Saharan Africa, excluding South Africa. The… Read More
Valyoo Tech Raises INR530 Million from Unilazer, IDG (Asia)
Valyoo Technologies, a manager of online luxury retail platforms in India, has received INR530 million (approximately US$9.9 million) in funding from venture capital firms IDG Ventures India and Unilazer Ventures, a venture capital fund promoted by Indian media executive Ronnie Screwvala. IDG previously invested US$4 million in Valyoo in 2011. Read More
Investec Private Equity Buys Stake in Assupol (Sub-Saharan Africa)
Investec Private Equity, the private equity division of international specialist banking and asset management firm Investec, has acquired a 30 percent stake in Assupol, a South African life insurance and financial services company. The investment consists of an equity injection as well as a debt component payable over five years. Financial details of the transaction were not disclosed. Read More