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Anquanbao: Innovation Works Portfolio Firm Completes Series B Financing (Asia)
China-focused venture capital firm Northern Light Venture Capital has invested in Chinese cloud security solutions developer Anquanbao.com’s Series B investment round. Existing investor Innovation Works, a Chinese early stage investor, also participated in the round. The investment amount was not disclosed, but is reportedly valued at approximately US$10 million. Read More
Fidelity Growth Partners India Leads INR4 Billion Investment in Trivitron Healthcare (Asia)
Fidelity Growth Partners India, the India-focused private equity arm of Fidelity Worldwide Investment, has led an investment of INR4 billion (approximately US$75 million) in Indian wholesale medical device distributor and service provider Trivitron Healthcare. Trivitron plans to use the funding to grow both organically and through the acquisition of companies and technologies in the United States and Europe. It also… Read More
Horizon Capital Invests in Tinkoff Credit Systems Bank (CEE and CIS)
Ukraine-based private equity fund manager Horizon Capital has invested US$40 million in Tinkoff Credit Systems Bank (TCS Bank), a Russian credit card company and online bank. Horizon made the investment through its US$370 million Emerging Europe Growth Fund II, which was raised in 2008. Horizon is the fourth external investor in TCS Bank following Baring Vostok Private Equity Fund IV,… Read More
Aditya Birla Private Equity Invests in Olive Bar & Kitchen (Asia)
Indian private equity firm Aditya Birla Private Equity has reportedly invested approximately US$15 million in Indian restaurant chain Olive Bar & Kitchen. The investment was made through Aditya Birla Private Equity’s INR3 billion (approximately US$56 million) Sunrise Fund. Olive Bar & Kitchen operates its flagship Olive restaurant chain and hopes to expand its reach through its recently launched bistros and… Read More
PineBridge Exits Maini Precision Products for US$15.3 Million (Asia)
Global asset manager PineBridge Investments has sold its stake in Indian aerospace and automotive components manufacturer Maini Precision Products to an undisclosed investor. The transaction is valued at INR830 million (approximately US$15.3 million). PineBridge originally invested approximately US$6.2 million in Maini in 2005. Read More
Brazil’s Vox Capital Impact Investing Fund I Gets US$4 Million Equity Investment from MIF (Latin America)
The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank Group, will invest US$4 million in Vox Capital Impact Investing Fund I, a Brazil-focused venture capital fund managed by Vox Capital. The fund seeks to make investments in up to 10 small and medium-sized enterprises and up to 12 startup companies that offer goods and services to poor… Read More
CRCI Sells Grant Achieve Global Stake to Olympus Capital (Asia)
Asia-focused private equity firm Olympus Capital Holdings Asia and Hong Kong-based enterprise Anoi have purchased a 40 percent stake in Chinese water treatment company Grant Achieve Global (GAG) from Chinese private equity firm China Renaissance Capital Investment (CRCI) and GAG’s management. Olympus has also acquired a warrant to purchase up to US$40 million in ordinary shares of GAG as part… Read More
Carlyle in Southeast Asia Deal with Indonesia Tower Stake (Asia)
The Carlyle Group has invested approximately US$100 million in Indonesian cellular tower operator Solusi Tunas Pratama (STP) for a 25 percent stake. STP operates 1,322 towers in Indonesia, mostly in and around Jakarta. Carlyle is reportedly raising a US$3.5 billion Asia-focused fund, its fourth for the region. Read More
L Capital Asia to Invest Another US$14 Million in Genesis Luxury (Asia)
L Capital Asia, the Asia-focused private equity fund sponsored by French company LVMH Group, has invested INR750 million (approximately US$14 million) in Genesis Luxury Fashion, the marketing and distribution arm of Indian fashion group Genesis Colors. This is the US$635 million L Capital Asia Fund’s second investment in the company, following an INR600 million (approximately US$11.4 million) investment for a… Read More
Abris Buys Romanian Cargus from Deutsche Post DHL (CEE and CIS)
Poland-based private equity firm Abris Capital Partners has purchased Romanian courier company Cargus from German courier company Deutsche Post DHL. Abris is raising its second private equity fund, targeted at EUR450 million (approximately US$587 million), to invest in Poland, Ukraine and Romania. Financial details of the transaction were not disclosed. Read More
Russia Partners Buys 7 Percent in Orient Express Bank (CEE and CIS)
Russia Partners, a Russia-focused subsidiary of private equity firm Siguler Guff & Company, has acquired a seven percent stake in Russia-based Orient Express Bank through a share offering. Existing investors also participated in the issue, including Russia-focused private equity firm Baring Vostok Capital Partners, International Finance Corporation and Orient Express Bank CEO Sergei Vlasov, with equity stakes of 30 percent,… Read More
Orchid Asia Sells LifeTech Stake to Medtronic (Asia)
Hong Kong-based private equity firm Orchid Asia Group Management has agreed to sell 95 million shares, equivalent to a 19 percent stake, in Hong Kong-listed Chinese medical device manufacturer LifeTech Scientific Corporation to U.S.-based medical technology company Medtronic. The deal is valued at HKD361 million (approximately US$46.6 million). Medtronic also purchased a convertible note, representing a 7.4 percent equity stake,… Read More