Accion Venture Lab, the seed-stage investment initiative of financial inclusion-focused investor Accion, has exited its stake in Aye Finance, an India-based non-banking financial company providing loans to micro, small and medium-sized enterprises. Accion continues to hold a stake in the company through Accion Global Investments, the firm’s later-stage investment vehicle. Read More
Global private equity firm Bain Capital has reached a final close for its fourth Asia buyout fund with US$4.7 billion in capital commitments. The firm and affiliated parties committed US$650 million to the fund while the remaining US$4 billion was raised from external investors. Pennsylvania Public School Employees’ Retirement System… Read More
Triple P Capital, a private equity fund manager focused on financial inclusion in Southeast Asia, has reportedly invested US$3 million in Singapore-based financial literacy startup The Praxis Company. Praxis uses gamification to teach money management, providing services to financial firms, schools, universities and corporate clients. The company plans to use… Read More
China-focused venture capital fund manager Gaorong Capital, formerly known as Banyan Capital, has reached a final close for Gaorong Partners Fund IV with capital commitments totaling US$450 million. Investors in the fund include sovereign wealth funds, endowments, family foundations, pension funds, funds of funds and high-net worth individuals. Gaorong focuses… Read More
Asia-focused private credit investment fund manager ADM Capital has reached a final close for Asia Secured Lending Facility II with US$178 million in capital commitments. Investors in the facility include development finance institutions IFC and OPIC, which committed US$50 million, as well as Calvert Impact Capital, which committed US$10 million. Read More
Global growth markets investor Actis has reportedly agreed to acquire a portfolio of solar power projects in India from Essel Infraprojects, the infrastructure arm of India-based conglomerate Essel Group, for up to INR60 billion (approximately US$847 million). The portfolio comprises 685 megawatts of installed capacity and projects under construction. Read More
Pakistan-focused private equity fund manager Baltoro Capital has reportedly acquired a stake in Pakistan-based asset manager NBP Fund Management (NBP Funds) through Baltoro Growth Fund. In addition to managing 26 mutual and pension funds and total assets of PKR116 billion (approximately US$866 million), NBP Funds engages in initiatives promoting financial… Read More
Global private equity fund manager Warburg Pincus has partially exited its stake in India-listed ICICI Lombard General Insurance Company for INR11.4 billion (approximately US$164 million), selling 14.3 million shares via bulk deals for INR800 (approximately US$11) per share. Warburg originally acquired a 9 percent stake in the company for US$284… Read More
Global private equity fund manager Warburg Pincus has led a Series E financing round of INR5.2 billion (approximately US$74 million) for India-based microlender Fusion Microfinance. Previous backer Creation Investments Capital Management also participated in the round, which included both a primary infusion and a secondary sale by early-stage investors. Impact… Read More
Global alternative asset manager KKR has agreed to invest up to SGD500 million (approximately US$366 million) in Singapore-based specialty retailer V3 Group through KKR Asian Fund III. The company owns and develops various luxury and wellness consumer brands across 26 countries, with a primary focus on Asia. V3 will partner… Read More
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