Venture capital firms Sequoia Capital and Ascent Capital have sold their stakes in India-based payments technology company Citrus Pay as part of the company’s 100 percent acquisition by PayU, a global online payment service provider owned by South Africa-based internet company Naspers, for US$130 million. Sequoia reportedly sold a 32… Read More
CGN Private Equity Fund Management Company has reached a second close for CGN Capital Partners Infrastructure Fund III with CNY3.2 billion (approximately US$478 million) in commitments. Investors in the fund include Industrial and Commercial Bank of China, Agricultural Bank of China, Postal Savings Bank of China and People’s Insurance Company… Read More
Private equity firm India Value Fund Advisors (IVFA) has acquired a majority stake in India-based seed manufacturer SeedWorks International for US$40 million. The transaction was completed via a secondary share purchase from an undisclosed seller. IVFA plans to work with SeedWorks to improve its sales and marketing efforts. Read More
China-focused venture capital firm Sinovation Ventures has closed two funds with total capital commitments of approximately US$674 million. The two funds include one U.S. dollar-denominated fund, which raised US$300 million, and an RMB-denominated fund which raised the equivalent of approximately US$374 million. The U.S. dollar fund was anchored by Taiwan-based… Read More
Indonesia-based health care services mobile application HaloDoc has closed a US$13 million Series A funding round led by Singapore-based private investment firm Clermont Group, with participation from venture capital firm NSI Ventures, ride-hailing platform Go-Jek and e-commerce company Blibli. The company offers mobile consultation with doctors and a service that… Read More
China-based logistics and supply chain management company Best Logistics Technologies has completed a US$760 million funding round led by China-focused private equity firm CITIC Private Equity and Everbright Financial Holding Asset Management. Other new investors in the round included: Cainiao Network Technology, China Development Bank International, Bank of China International-controlled… Read More
Development finance institution International Finance Corporation (IFC), IFC Asset Management Company (IFC AMC) and EMA Power, a joint venture between Daelim Energy and Islamic Development Bank Infrastructure Fund II, have invested US$175.5 million to finance Bangladesh-based power producer Summit Group’s future power projects in the country. IFC AMC will invest… Read More
Impact fund manager Equator Capital Partners has fully exited its stake in India-based, Bombay Stock Exchange-listed microlender Satin Creditcare, returning INR2.09 billion (approximately US$31 million) through a series of open-market transactions. Equator originally invested in the company in 2010 and 2013 through ShoreCap II. The exit reportedly generated a 6x… Read More
MC Payment, a Singapore-based financial technology company, has raised SGD6 million (approximately US$4.4 million) in a Series B funding round led by Asia-focused private equity firm ESW Manage and private investment firm DZW Capital. Private equity firm Golden Equator Capital also participated in the round. MC Payments plans to use… Read More
India-focused private equity firm Paragon Partners has led an INR1.1 billion (approximately US$16.5 million) investment in India-based manufacturer and supplier of high-precision engineering components Maini Precision Products. Investors in Paragon’s fund also co-invested in the deal. The transaction included both a primary investment and a secondary component, which provided an… Read More
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