China-focused venture capital firm Qiming Venture Partners has reached a final close for Qiming Venture Fund V with US$658 million in capital commitments. Investors in the fund included United States-based university endowments Princeton University, Duke University and Massachusetts Institute of Technology; United States-based private foundations the Robert Wood Johnson Foundation,… Read More
Nexxus Capital has completed the acquisition of Mexico-based multi-brand restaurant platform Invesionistas en Restaurantes de Carnes y Cortes (IRCC). The acquisition was funded through a capital increase in diversified platform Taco Holding by Nexxus VI and Nexxus VI Trust, funds managed by Nexxus Capital. Taco Holding is a portfolio company… Read More
India-focused private equity firm InvAscent has invested INR600 million (approximately US$8.8 million) in India-based medical device and pharmaceutical distributor Sandor Medicaids. The transaction, which included convertible and non-convertible notes, was composed of a primary issue of shares and a secondary purchase from Somerset Indus Capital Partners, a private equity firm… Read More
Nigeria-focused private equity firm Verod Capital has reached a final close for its second fund, Verod Capital Growth Fund II, with US$115 million in capital commitments, exceeding its US$100 million target. Investors in the fund included fund of funds, asset managers, sovereign wealth funds, pension funds, family offices and development… Read More
Global investment firm KKR has sold its remaining stake in Vietnam-based food and beverage company Masan Consumer to parent entity Masan Group. Masan Group’s agreement with Thailand-based beer producer Singha Asia to create a combined food and beverage platform facilitated KKR’s exit. KKR reportedly generated a return of more than… Read More
The Tigris Water Fund, an Asia-focused growth capital fund co-managed by global infrastructure firms Odyssey Capital and Macquarie Capital, has reached a first close with US$110 million in capital commitments. Investors included development finance institution FMO, Japanese-based engineering consulting company Nippon Koei and Eastspring Investments, the Asian asset management business… Read More
Convergence, a deal sourcing platform for blended finance investments, was launched in January 2016. The platform, which has funding from the Government of Canada and Citi Foundation, intends to connect private, public and philanthropic investors with one another for co-investment opportunities in blended finance deals in emerging and frontier markets. Read More
Emerging markets financial services investor LeapFrog Investments has acquired a majority stake in Ghana-based life insurance provider UT Life Insurance Company (UT Life). UT Life operates nine branches across Ghana. Financial details of the transaction were not disclosed. … Read More
Global asset management company Proterra Investment Partners, formerly known as Black River Asset Management, has agreed to invest US$45 million for a combination of compulsorily convertible debentures and equity shares in India-listed Future Consumer Enterprise, the food and consumer goods arm of Future Group. The transaction was structured through Black… Read More
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