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KKR India Financial Services Merges with India’s InCred
KKR’s non-banking financial company (NBFC) KKR India Financial Services merged with India-based lender InCred. The combined business will operate under the InCred Finance brand with a USD600m balance sheet and ~USD300m equity base. Read more here. Read More
Ruya Partners Invests ~USD20m in Saudia Arabia’s Energia
Ruya Partners provided SAR75m (~USD20m) in financing to Energia, a Saudi Arabia-based temporary power solutions provider. Read More
Coller Capital and Hahn & Company Acquire South Korea’s Ssangyong C&E for ~USD1.5b Through Continuation Fund
Coller Capital and Hahn & Company acquired South Korea-listed cement manufacturer Ssangyong C&E for ~USD1.5b through a single-asset continuation vehicle. Hahn & Company first invested in the company in 2012 and acquired a controlling stake in 2016. Read More
Silicon Badia Leads USD12m Series A for Egypt’s Cartona
Silicon Badia led a USD12m Series A for Cartona, an Egypt-based B2B e-commerce platform, with participation from SANAD Fund for MSME, Arab Bank Accelerator and Sunny Side Ventures, and follow-on from Global Ventures and Kepple Africa Ventures. Read More
Seedstars Reaches USD20m First Close for Second Seed Fund
Seedstars reached a USD20m first close for its second emerging markets seed fund with commitments from IFC, Visa, Rockefeller Foundation, Symbiotics and others. Read More
ESR Reaches USD1b First Close for Asia Pacific-focused Debut Data Center Fund
ESR reached a USD1b first close for its debut Data Centre Fund 1. The vehicle has a hard cap of USD1.5b and invests in data center projects across Asia. Read More
BAI Capital Reaches USD700m Final Close for Inaugural China Venture Fund
China-based BAI Capital reached a USD700m final close of its inaugural venture fund. Formerly known as Bertelsmann Asia Investments, the firm will back Chinese companies that are part of the country’s structural reform, in areas including renewable energy, autonomous driving, and software-driven industrial upgrade solutions, as well as Chinese companies expanding overseas, in areas including retail, fintech, media and web3.… Read More
Amethis Exits Ivory Coast’s Pétro Ivoire To State-owned CNPS
Amethis exited its minority stake in Pétro Ivoire, an Ivory Coast-based retail distributor of oil and gas, to state-owned Caisse Nationale de Prévoyance Sociale (CNPS) for an undisclosed amount. Amethis first invested in the company in July 2013 and sold part of its stake through a leveraged management buyout in March 2018. Read More
AINDA Acquires 3.6% Stake in Mexico’s Hokchi Energy
AINDA Energía & Infraestructura acquired a 3.6% stake in Hokchi Energy, a Mexico-based offshore oil and gas subsidiary of PanAmerican Energy, for an undisclosed amount. Read More
Alpha Wave Ventures Invests ~USD44m Series C+ for India’s Fi
Alpha Wave Ventures invested INR3.55b (~USD44m) in a Series C extension for Fi, an India-based neobanking platform. B Capital Group led the company’s USD50m Series B in November 2021 at a reported USD315m valuation. Read More
Banco Votorantim Leads USD8m Pre-Series A for Brazil’s Darwin Seguros
Banco Votorantim led a USD8m pre-Series A for Darwin Seguros, a Brazil-based car insurance platform, with participation from HIX Capital and angel Guti Vidigal (Singulare) and follow-on from Invisto. Duxx Investments and Invisto invested ~USD2.2 in a seed round for the company in July 2021. Read More
Mirova SunFunder and TDB Lead USD50m Debt Round for Kenya’s d.light
Mirova SunFunder and TDB co-arranged a USD50m debt facility for d.light, a Kenya-based, pay-as-you-go solar platform, with participation from FMO. Read More