Africa-focused private equity firms Development Partners International (DPI) and Convergence Partners have invested USD54 million in Channel VAS, a UAE-based financial technology company. Channel VAS provides mobile financial, airtime credit, and data analytics services to mobile network providers and financial institutions to facilitate micro-loans. The company currently operates in over… Read More
Tell Group, a private equity and corporate advisory firm focused on Europe, the Middle East, and North Africa, has reached a first close for Tell Lebanon Infrastructure Fund. The fund, which is targeting a USD100 million final close, received commitments from more than 25 investors, including the Gulf Cooperation Council,… Read More
EMPEA Members log in to receive exclusive access to the detailed report (PDF) and underlying data (Excel). Subdued investment in Asia’s largest market, as well as fewer large-cap pan-Asia funds raising capital, rein in total EM activity levels despite bright spots in other regions, including Africa, other countries,… Read More
Global private equity fund managers Warburg Pincus and General Atlantic, along with Dubai-based financial services group Emirates NBD Bank, have sold 100 million shares in UAE-based payment services provider Network International at GBP5.8 (approximately USD7) per share, returning GBP580 million (approximately USD706 million). Warburg Pincus and General Atlantic originally invested… Read More
Jordan-based product design and e-commerce company Mecal has received funding from Middle East-focused venture capital firm Ibtikar Fund and Jordan-focused government-backed vehicle the Innovative Startups and SMEs Fund (ISSF). Mecal designs, produces and retails men’s accessories and intends to use the capital to scale up its consumer base. Financial details… Read More
Venture capital fund manager Middle East Venture Partners (MEVP) and Saudi Arabia technology-focused asset manager Impact46 have led a USD6.6 million Series A investment in Nana Direct, a Saudi Arabia-based online grocery delivery platform. Other participants in the funding round include MENA-focused venture capital fund manager Wamda Capital, financial services… Read More
Rain, a Bahrain-based cryptocurrency exchange platform, has secured a USD2.5 million seed funding round from venture investors 500 Startups and Blockwater; corporate investors BitMEX, Vision Ventures, Taibah Valley, CMT Digital, and Compound.finance; and a number of high-net-worth individuals. The company, which recently obtained its Crypto-Asset Module license from the Central… Read More
A consortium led by global private capital fund manager CVC Capital Partners has agreed to acquire a 30 percent stake in GEMS Education, a UAE-based K-12 school operator. The investment will facilitate exits for global principal investment firm Fajr Capital, global alternative asset manager Blackstone Group, and Bahraini sovereign wealth… Read More
Global Capital Management (GCM), the alternative asset management arm of Global Investment House, and the Boodai family, owners of Kuwait-based conglomerate BoodaiCorp, have sold a 60 percent stake in Kuwait-based port management and logistics services company Jassim Transport and Stevedoring Company (JTC) to Kuwait-based Qurain Petrochemical Industries Company (QPIC). GCM… Read More
Emerging markets-focused private equity fund manager Affirma Capital has invested approximately USD40 million in Tirupati Medicare, an India-based developer and manufacturer of nutraceutical and pharmaceutical products. Tirupati plans to use the funds for research and development and to fulfill its capital expenditure and working capital needs. In another development, Affirma… Read More
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