UAE-based venture capital firm Shorooq Partners led a USD5.8m series A for Dubai-based virtual reality mobile app 360VUZ, with participation from KBW Ventures, Media Visions, Vision Ventures, Hala Ventures, and 500Startups. Careem founder Magnus Olsson, Maktoob founder Samih Toukan, and former managing director of Facebook Middle East Jonathan… Read More
ADB Ventures, the VC unit of the Asian Development Bank, has reached a USD50m final close for its first impact fund with commitments from Clean Technology Fund, Nordic Development Fund, Finland’s Ministry for Foreign Affairs, and the Republic of Korea’s Ministry of Economy and… Read More
German development finance institution DEG has agreed to invest up to USD10m in Kenya-based grocery retail distributor Naivas, along with co-investors Amethis Finance and IFC. Read more… Read More
Legend Capital, an independent venture capital unit of China-based conglomerate Legend Holdings, and SoftBank have invested USD150m in ride-hailing company Didi Chuxing’s bike-sharing unit Qingju. Didi invested USD850m, bringing the total commitments to USD1b. Read more… Read More
Warburg Pincus has agreed to acquire an additional 17.11% stake in Hong Kong-listed car rental service provider China Auto Rental (CAR) for USD145m. The purchase will bring Warburg’s stake in the company to 27.22%, making it the majority shareholder. Read more… Read More
Hillhouse Capital- and Hopu Investment Management-backed global real estate and private equity fund manager GLP has reached a USD2.1b final close for its China Income Fund I. The vehicle targets investments in the logistics real estate sector in China. Read more… Read More
German development finance institution DEG has provided financing to Kenya-based macadamia nut producer Limbua to support the expansion of its production. Read more… Read More
CICC Capital, Lyzz Capital, CITIC Securities Investment, and Huge Capital led a CNY1.13b (approximately USD160m) series C for China-based drug developer Mabworks, with participation from SDIC Fund, Lake Bleu Capital, BoCom International, Beijing E-Town International Investment & Development, Sealand Innovation, and Yuexiu Enterprises. Read more… Read More
Alitheia IDF, a joint venture fund between Nigeria-based Alitheia Capital and South Africa-based IDF Capital, has reached a USD75m second close. The vehicle targets women-led SMEs in high growth sectors in Africa. Read more… Read More
Russia- and CIS-focused private equity fund manager Baring Vostok Capital Partners has acquired a minority stake in Russia-based eco-friendly detergents and cosmetics manufacturer Synergetic for an undisclosed amount. Read more… Read More
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