Venture capital firms IDG Ventures India, Jungle Ventures and India Quotient have invested INR74 million (approximately US$1.2 million) in India-based Momoe Technologies, the operator of a mobile payments application. The company, which is currently active in Bangalore, offers an app-based payment option where users can pay using a virtual wallet. Read More
Southeast Asia- and India-focused private equity firm Creador Capital has invested INR1.35 billion (approximately US$22 million) in India-listed jewelry retailer PC Jeweller. The transaction was structured through Creador II. PC Jeweller operates jewelry showrooms across India, as well as an online retail platform. The company intends to use the fresh… Read More
Asia-focused private equity firm Baring Private Equity Asia has reached a final close on Baring Private Equity Asia Fund VI with approximately US$4 billion in capital commitments, reaching its hard cap. Investors in the fund included Los Angeles City Employees' Retirement System, Texas County & District Retirement System, Pennsylvania Public… Read More
India-focused private equity firm IDFC Alternatives has agreed to acquire a 26 percent stake in India-based Delhi Cargo Service Centre, the cargo services operator at Delhi’s Indira Gandhi International Airport, for INR286 million (approximately US$4.6 million). The deal will be structured through IDFC’s India Infrastructure Fund II. IDFC will purchase… Read More
Global microfinance investor Accion and venture capital firm SAIF Partners have invested US$1 million in India-based Aye Finance, a provider of loans to micro, small, and medium-sized businesses. Accion’s investment was structured through its Venture Labs initiative. Read More
Over the last six months, crude oil prices have fallen from over US$100 to less than US$50 per barrel. While the macroeconomic effects of this decline—falling commodity prices, currency volatility, trimmed economic growth forecasts and more—are far-reaching and varied, particularly in emerging markets, the effect of this drop on the private… Read More
Andrew Affleck, Managing Partner, Armstrong Asset Management Many in the industry have raised concerns that lower oil prices will hamper the push for renewable energy. Interestingly, cheap oil has had limited impact on the momentum of solar energy uptake as seen in the surge of interest in the latter in… Read More
17zuoye, a China-based education start-up, has raised US$100 million in a Series D financing round led by venture capital firm H Capital, with participation from Singaporean sovereign wealth fund Temasek, Russian venture capitalist Yuri Milner and venture capital firm Shunwei Capital Partners. The company operates an online education platform for… Read More
China-focused venture capital firm Shunwei Capital Partners has closed its first RMB-denominated fund with RMB1 billion (approximately US$160 million) in capital commitments. The fund will invest in the areas of intelligent hardware, mobile internet, online finance, online education and travel sites. Shunwei previously raised two USD-denominated funds, with the most… Read More
Global private investment firm TPG Capital has exited a 17.5 percent stake in Indonesia-based lender Bank Tabungan Pensiunan Nasional (BTPN) through a strategic sale to Japan-based conglomerate Sumitomo for IDR5.9 trillion (approximately US$457 million). Post-transaction, TPG will hold an 8.38 percent stake in BTPN, while Sumitomo will hold a 20… Read More
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