East Africa-focused private equity firm Fanisi Capital has agreed to sell Kenya-based private education company Hillcrest International Schools for KES2.6 billion (approximately US$25 million) to GEMS Education, a U.A.E.-based education group. Fanisi and entrepreneur Anthony Wahome originally acquired Hillcrest in August 2011 for KES1.8 billion (approximately US$20 million). The transaction… Read More
The India arm of United States- and Asia-focused venture capital firm Matrix Partners has reach a final close for its third fund with US$321 million in capital commitments. Investors in the fund include North America-, Europe- and Middle East-based university endowments, foundations and financial institutions. The fund will target seed,… Read More
India-focused private equity fund manager ChrysCapital has reached a final close for its eighth fund with US$867 million in capital commitments. Investors in the fund include Ontario Teachers’ Pension Plan, fund of funds managers Asia Alternatives Management and Adams Street Partners, Singaporean sovereign wealth fund GIC and Harvard Management Company. Read More
Global SME-focused impact investing firm SEAF has invested in eDukaty, a Morocco-based education technology company. SEAF invested in the company, which develops online French admissions examination preparation products, through the Morocco Growth Fund. Separately, SEAF has also announced an investment in Organica, a Vietnam-based organic and natural food retailer and… Read More
SolarNow, a Uganda-based off-grid solar energy company, has secured US$9 million in debt financing from impact investment fund manager responsAbility Investments, impact investing cooperative Oikocredit and SunFunder, an emerging markets-focused solar financing firm. SolarNow previously received a US$6 million loan from responsAbility, Oikocredit and SunFunder in late 2017. The company… Read More
Africa-focused private equity fund manager AfricInvest has reached a third close for FIVE, an evergreen platform for investing in financial institutions in Africa, with EUR67 million (approximately US$77 million) in capital commitments. Investors in the fund include development finance institutions KfW, FMO, BIO, Norfund and IFU, as well as the… Read More
India-focused private investment fund manager IDFC Alternatives has led a Series B round of US$30 million for Zolostays, an India-based developer and manager of co-living spaces. Other participants in the funding round include Mirae Asset Global Investments, Nexus Venture Partners, OLX founder Alex Oxenford, Olympia Group and Patni Computers Family… Read More
India-focused private equity fund manager Gaja Capital has sold a 20 percent stake in India-based spirits company John Distilleries to Sazerac, a U.S.-based liquor producer. The transaction reportedly values John Distilleries at INR10 billion (approximately US$144 million). The deal marks Sazerac’s second investment in the company after it purchased a… Read More
Africa-focused private equity fund manager Adenia Partners has acquired a controlling stake in Tumaini Self Service, a Kenya-based supermarket chain operator. Adenia acquired the company through its special purpose vehicle Sokoni Retail Kenya. Tumaini, which has six grocery branches, plans to use the new funds to expand throughout the Nairobi… Read More
India-based budget hotel chain Imperativ Hospitality has raised INR1 billion (approximately US$14 million) from Samena Capital, a principal investment group focused on South Asia, the Middle East and North Africa, to complete its Series B funding round. Samena initially invested INR1.1 billion (approximately US$17 million) in Imperativ’s Series B in… Read More
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