U.S.-listed social game developer Zynga has acquired Turkey-based mobile game developer Gram Games, which is backed by Hummingbird Ventures, for US$250 million in cash. Zynga will also pay a three-year earn-out if Gram Games meets undisclosed financial targets. Hummingbird Ventures originally invested in Gram Games in 2012, when the company… Read More
Central and Eastern Europe-focused private equity fund manager Mid Europa Partners has agreed to invest in Poland-based JS Hamilton, a testing, inspection and certification company engaged in food, non-food, fuel and environmental testing, as well as cargo and engineering inspection. With Mid Europa’s support, JS Hamilton plans to broaden its… Read More
China-focused alternative investment management and advisory company CITIC Capital Holdings has invested in China-based Shanghai Railink International Intermodal Logistics and Kazakhstan-based Atasu Group. Both companies operate in the logistics services sector, serving trade links between China and Europe via Central Asia and Kazakhstan. CITIC Capital, which invested through CITIC Capital… Read More
China-based online payment platform operator Ant Financial Services, a subsidiary of Alibaba, has reportedly raised US$10 billion from a consortium of global and local investors in a funding round valuing the company at US$150 billion. Sovereign wealth funds GIC, Temasek Holdings and Khazanah Nasional, as well as global private equity… Read More
India-based digital-only insurance platform Toffee Insurance has raised US$1.5 million in a seed financing round led by Accion Venture Lab, the seed-stage investment vehicle of financial inclusion-focused investor Accion, India-focused venture capital firm Kalaari Capital and philanthropic investment firm Omidyar Network. Toffee provides insurance offerings to millennials; its initial lineup… Read More
India-focused technology investment firm Zodius Capital has reportedly increased its stake in India-based lingerie retailer Zivame to 45 percent by acquiring shares from India-focused venture capital firms Kalaari Capital and IDG Ventures India. Kalaari and IDG originally invested in Zivame in 2012. Financial details of the transaction were not disclosed. Read More
The Blackstone Group has agreed to exit India-based Gateway Rail Freight to its parent company Gateway Distriparks for INR8.1 billion (approximately US$118 million), bringing Gateway Distriparks’ stake in the company to 99.8 percent. Blackstone originally invested INR3 billion (approximately US$65 million) in Gateway Rail Freight in November 2009. The deal,… Read More
China-focused private investment firm Primavera Capital Group has reached a first close for its third fund with US$1.5 billion in capital commitments. Primavera, which typically makes growth capital, buyout and special situations investments, is reportedly targeting US$2.8 billion in total commitments for the fund. Read More
Legend Capital Management, an independent venture capital unit of China-based conglomerate Legend Holdings, has reached a first close for its second renminbi-denominated health care fund with CNY1 billion (approximately US$157 million) in capital commitments. The main areas of focus for the fund include drug development, medical devices, diagnostic technologies, health… Read More
Old Mutual Private Equity (OMPE), a division of South Africa-focused asset manager Old Mutual Alternative Investments, has agreed to acquire a 50 percent stake in South Africa-based Medhold Group, an end-to-end supplier of medical devices. With OMPE’s support, Medhold plans to expand locally and in the rest of Africa, as… Read More
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