Ant Financial, a China-based affiliate of e-commerce company Alibaba Group, has closed a US$4.5 billion Series B funding round at a reported enterprise valuation of close to US$60 billion. Investors in the round included China Investment Corporation’s affiliate CIC Capital and China Construction Bank’s subsidiary CCB Trust, as well as… Read More
Lenskart, an India-based eyewear manufacturer, distributor and retailer, has raised INR4 billion (approximately US$60 million) in a Series D round led by development finance institution International Finance Corporation (IFC). Additional investors in the round included private equity firms TPG Growth and Adveq Management, venture capital firm IDG Ventures India and… Read More
The Macro Picture: What Makes Power a Compelling Sector for Investment? The rise of emerging markets over the last two decades has had a transformative impact on the world economy. According to the International Monetary Fund, from 1995 to 2015, emerging markets’ aggregate GDP in purchasing power parity terms… Read More
CDIB Capital, the international private equity arm of China Development Financial, has participated in a US$45 million investment in China-based integrated logistics and supply chain management service provider Best Logistics Technologies. Other co-investors in the round were not disclosed. Best Logistics plans to use the capital to expand core operations… Read More
India-focused private equity firm IDFC Alternatives has invested approximately US$70 million in a portfolio of operating solar and wind assets to kick-start the formation of an India-focused renewable energy platform. IDFC Alternatives will structure the platform similar to Highway Concessions One, its platform for managing road assets. The transaction is… Read More
Asia-Pacific-focused private equity investor Morgan Stanley Private Equity Asia (MSPEA) has partially exited Hong Kong-based financial advisor AMTD to China-based investment firms China Minsheng International and LR Capital Group. With Minsheng and LR Capital’s entry, MSPEA reduced its holding in AMTD to 9.9 percent, returning a reported US$94.2 million including… Read More
In the age of transparency, ESG reporting has evolved into a common practice for private equity practitioners in emerging markets, as evident by the shift in the dialogue around ESG. Instead of speculating over the value of ESG reporting, practitioners are instead engaging around strategies to enhance the quality and… Read More
Indonesia-based budget hotel aggregator Nida Rooms has raised US$4.2 million in a pre-Series A financing round from Indonesia-focused early-stage technology venture capital firm Convergence Ventures and internet services-focused investor CyberAgent Ventures. The company plans to use the new funds to expand its business in Indonesia and Southeast Asia. Read More
India-focused private equity fund manager ICICI Venture has acquired a minority stake in Anthea Aromatics, an India-based manufacturer of chemical inputs for the food flavoring and fragrance industry, for INR1.2 billion (approximately US$18 million). The transaction was structured through India Advantage Fund Series 4. Anthea was founded in 1991 and… Read More
The 12th annual edition of EMPEA’s Global Limited Partners Survey features the views of 107 limited partners (LPs) on the emerging markets private equity (EM PE) asset class. This study aims to provide the industry with a better understanding of how LPs’ strategies for investing are evolving; what challenges… Read More
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