China-focused venture capital firm Long Hill Capital Management has reached a final close for Long Hill Capital Venture Partners 1 with US$125 million in capital commitments. The fund will focus on early-stage investments in technology-enabled health care and consumer services companies in China. Investors in the fund include global venture… Read More
Accion Venture Lab, the seed-stage investment vehicle of financial inclusion-focused investor Accion, has sold its stake in Varthana, an India-based provider of specialized loans and support to private schools, to an undisclosed investor. Accion Venture Lab originally invested in Varthana in May 2013. Financial details of the transaction were not… Read More
Emerging markets specialist private equity investor LeapFrog Investments has partially exited its stake in IFMR Capital, an India-based provider of capital market access to financial institutions serving low-income consumers. The exit is part of a larger deal in which Eight Roads Ventures, the proprietary investment arm of United States-based Fidelity… Read More
American Capital Energy & Infrastructure (ACEI) has exited all of its energy investments, which comprise holdings in four companies: Nigeria-based Azura Power Holdings, Senegal-based Taiba Ndiaye Wind Project, Jamaica-based BMR Energy and Indonesia-based Ankora Hydro. Global growth markets investor Actis acquired ACEI’s stake in Azura, and Actis’s portfolio company Lekela… Read More
Betta Pharmaceuticals, a China-based drug developer backed by Lilly Asia Ventures (LAV), Shenzhen Cowin Venture Capital and China Everbright, raised CNY720 million (approximately US$106 million) in its IPO on the Growth Enterprise Market Board of the Shenzhen Stock Exchange, selling 41 million shares for CNY17.57 (approximately US$2.59) per share. LAV,… Read More
Global growth equity firm General Atlantic has acquired an additional 3.38 percent stake in PNB Housing Finance, a Bombay Stock Exchange-listed loan provider, for INR5.01 billion (approximately US$75 million) following the company’s trading debut. General Atlantic first acquired shares worth US$7 million in the company as an anchor investor in… Read More
Venture capital firms IDG Ventures India and Accel Partners have made a US$3 million Series A investment in India-based Smartpaddle Technology, the owner of business-to-business packaging materials marketplace Bizongo. The company plans to use the funds to expand its seller base, build automation, improve its supply chain and strengthen its… Read More
China-focused venture capital firm Qiming Venture Partners has reached a final close for its fourth RMB fund with CNY1.5 billion (approximately US$222 million) in capital commitments. Investors in the fund include CDB Capital, Oriza Holdings, Gopher Asset Management, Pingan Wealth and high net worth individuals. Qiming Venture Partners targets opportunities… Read More
Indonesia-focused early-stage venture capital firm Convergence Ventures has reached a final close for its Convergence Capital Fund I with US$30 million in capital commitments. The firm, formerly known as Convergence Accel, plans to make around 30 investments from the fund, which will target companies focused on disruptive digital and mobile… Read More
CITIC Capital Partners, the China-focused private equity arm of CITIC Capital, has completed the sale of its controlling stake in China-based mattress manufacturer and retailer King Koil Shanghai Sleep System to global private equity firm Advent International. CITIC Capital Partners originally acquired the company in June 2014 through CITIC Capital… Read More
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