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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
Lightrock Leads USD32m Series E2 for India’s Shiprocket at a USD1.2b Valuation
Lightrock India led a USD34m Series E2 for Shiprocket, an India-based Zomato-backed logistics startup, at a reported USD1.2b valuation, with participation from Temasek, Moore Strategic Ventures and Huddleat, and follow-on from Bertelsmann India Investments, PayPal Ventures and March Capital. Read More
IFC and Armstrong Asset Management To Exit Vietnam’s Gia Lai Electricity for USD112m
IFC and Armstrong Asset Management agreed to exit Vietnam-listed renewable energy power company Gia Lai Electricity for a reported USD112m. IFC and Armstrong acquired 16% and 20% stakes in the company, respectively, in June 2016. Read More
Google Africa Fund Invests in Kenya’s Lori Systems
Lori Systems, a Kenya-based logistics shipping platform, raised an undisclosed amount from Google, representing the third investment from Google’s USD50m Africa Investment Fund. Read More
Sango Capital Acquires Tunisia’s Sotipapier from SPE Capital
Sango Capital acquired a controlling stake in Sotipapier, the Tunisia-listed paper packaging manufacturer, from SPE Capital Partners and other shareholders. SPE invested in the company in 2012 before spinning out from investment banking firm Swicorp and partially exited in Sotipapier’s 2014 IPO and through a dividend recapitalization in 2017. Read More