Global growth equity firm General Atlantic has subscribed to IDR1.08 trillion (approximately US$80 million) in zero-coupon bonds issued by Indonesia-based lifestyle retailer Mitra Adiperkasa (MAP), which are convertible into shares in MAP’s food and beverage subsidiary, MAP Boga Adiperkasa (MBA). MBA operates over 300 stores across 24 cities in Indonesia… Read More
China-focused private equity firm CDH Investments and investments services provider CCB International have sold their stakes in Hong Kong Stock Exchange-listed hospital operator Harmonicare Medical Holdings to China-based life insurance company Taikang Insurance Group. CDH sold a 10.37 percent stake in the company for HKD514 million (approximately US$66 million) and… Read More
Venture capital firms IDG Ventures India and SAIF Partners have led a INR270 million (approximately US$4 million) Series A round for India-based mobile social gaming company PlaySimple Games. The company will use the funds for game development, team expansion and marketing. IDG originally invested in the company’s seed round in… Read More
Venture capital firms IDG Ventures India and Kalaari Capital have invested US$3 million in Singapore-based fintech startup Active.ai, which employs artificial intelligence (AI) to deliver virtual assistant banking services. Active.ai will use the investment to expand its clientele and improve its AI technology. Read More
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
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