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IIFL Leads USD50m Series D for India’s Open
IIFL led a USD50m Series D for India-based neobank Open at a reported USD1b valuation, with follow-on from Tiger Global, Temasek and 3one4 Capital. Read More
BNDES To Invest up to ~USD50m in Lightrock’s Growth Equity Fund II Brasil
BNDES agreed to invest up to BRL250m (~USD50m) in Lightrock’s Growth Equity Fund II Brasil. The fund will invest in health, education, renewable energy, sustainable agriculture and food, efficient mobility and transport, financial system transformation and digital infrastructure in Brazil. Read More
Lightsmith Group Leads USD60m Round for Brazil’s Solinftec
US-based PE Lightsmith Group led a USD60m round for Solinftec, a Brazil- and US-based farm analytics and operations management platform, with follow-on from Unbox Capital and Circularis Partners. Read More
YC Continuity Leads USD200m Series D for India’s Zepto
India-based instant grocery delivery startup Zepto raised a USD200m Series D led by existing backer YC Continuity at a ~USD900m reported valuation, with participation from Kaiser Permanente and follow-on from Nexus Venture Partners, Glade Brook Capital, Contrary Capital and Lachy Groom. Read More
Itaú Acquires 11.3% Stake in Brazil’s XP From General Atlantic, Others for ~USD1.6b
Itaú Unibanco acquired an 11.3% stake in Brazil-based brokerage XP for BRL7.9b (~USD1.6b), with the majority of shares sold by General Atlantic, which retains a 3.3% stake. Read More
Galgo Capital Acquires 40% of Peru’s Crece Capital
Galgo Capital, through its SPV Ancon SpA, acquired 40% of Peru-based financial services company Crece Capital via a secondary transaction for an undisclosed amount. Galgo is now the largest shareholder in the company. Read More
BIO’s SDG Frontier Fund Reaches ~USD38m Final Close
BIO’s SDG Frontier Fund reached a EUR36m (~USD38m) final close to support sustainable economic growth in African and Asian frontier markets. Read More
Amansa Capital, Jungle Ventures, Nexus VP Lead USD120m Series E for India’s Turtlemint
Amansa Capital, Jungle Ventures and Nexus Venture Partners led a USD120m Series E for India-based insurtech Turtlemint, with participation from Vitruvian Partners and Marshall Wace, among others. Read More
Actis To Sell India’s Sprng Energy to Shell for USD1.55b
Actis agreed to sell India-based renewable energy company Sprng Energy to Shell for USD1.55b. Read More
Fubon Life Commits USD45m to Warburg Pincus, L Catterton X Offshore and Taiwania Capital
Fubon Life Insurance, the insurance unit of Taiwan-based financial conglomerate Fubon Financial Holdings and Taiwan Life, committed USD45m to three PE funds: USD15m to Warburg Pincus Global Growth 14, USD10m to L Catterton X Offshore and USD20m to Taiwania Capital Buffalo Fund VI. Read More
AAIC Investment Reaches First Close for Africa Innovation & Healthcare Fund
Singapore-headquartered AAIC Investment reached an undisclosed first close for Africa Innovation & Healthcare Fund. The vehicle has a USD150m target and primarily invests in startups in healthcare and fintech across Africa. Read More
CDPQ To Acquire Power Transmission Portfolio in LatAm From Terna Group for ~USD279m
CDPQ agreed to acquire a portfolio of power transmission assets in Brazil, Peru and Uruguay from Terna Group for EUR265m (~USD279m). Read More