Proof – KKR Closes USD3.9b Asia Pacific Infra Fund; Yunfeng Invests USD300m in Chinese Edtech Yuanfudao; Intel, TPG Growth, EchoVC in USD85m Series B for Kenya’s Gro Intelligence
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19-20 January 2021 | GPEC 2021 | Industry News | Programming | EMPEA Data | Member Profile

GPEC 2021

SAVE THE DATE: 17-20 MAY 2021

Each year IFC and EMPEA gather over 600 global private capital investors from 60 countries across Asia, Africa, Latin America, MENA, and CEE & CIS, representing private equity, venture capital, impact, infrastructure, credit, sovereign wealth funds, pension funds, and family offices for this important meeting.

As investors seek new resources to deploy capital globally in the absence of travel and in-person meetings, EMPEA has been connecting private capital players around the world and innovating with new formats and initiatives on behalf of member firms.

IFC and EMPEA are hosting the 22nd annual Global Private Equity Conference (GPEC) as a highly interactive virtual gathering to connect global LPs and GPs on 17-20 May 2021

Registration to be launched soon. Check for updates. 

Members interested in participating should contact programs@empe​​​​​


KKR Reaches USD3.9b Final Close for Asia Pacific Infrastructure Fund

Region: Asia

KKR has reached a USD3.9b final close for its KKR Asia Pacific Infrastructure Investors fund. The vehicle will focus on infrastructure-related investments across Asia Pacific. Read more

CICC Capital Reaches USD648m Second Close for Biomedical Fund

Region: Asia

China’s CICC Capital reached a RMB4.2b (approximately USD648m) second close of its Qide Innovation Biopharmaceutical Equity Investment Fund, backed by China’s state-owned enterprises, corporations, and high-net-worth individuals. Read more

Yunfeng Capital Invests USD300m in Chinese Edtech Yuanfudao

Region: Asia

Yunfeng Capital has invested USD300m in China-based edtech Yuanfudao, bringing the overall funding raised by the company in 2020 to USD3.5b. In March 2020, Hillhouse led the company’s USD1b Series F, and in October 2020, Tencent and DST Global led the company’s USD2.2b Series G. Read more

Lightspeed VP, Tencent, DST Global, GGV Capital, and Altimeter Capital Invest USD280m in Indian B2B Marketplace Udaan

Region: Asia

Existing investors Lightspeed Venture Partners, Tencent Holdings, DST Global, GGV Capital, and Altimeter Capital, and new investors Octahedron Capital and Moonstone Capital have invested USD280m in India-based B2B e-commerce firm Udaan. Read more

Sequoia China Leads USD150m Series B for Chinese Biotech Visen Pharmaceuticals

Region: Asia

Sequoia Capital China led a USD150m Series B for China-based biotech firm Visen Pharmaceuticals, with participation from OrbiMed, Sherpa Healthcare Partners, Cormorant, HBM Healthcare Investments, Pivotal bioVenture Partners China, Logos Capital, and CDG Capital, as well as follow-on from existing investors, including Ascendis Pharma A/S, Vivo Capital, and Sofinnova Investments. Read more

Warburg Pincus and Goodwater Capital Lead USD100m Investment in Vietnamese Fintech MoMo 

Region: Asia

Warburg Pincus and Goodwater Capital co-led a USD100m Series D round for Vietnam-based M Service JSC which operates MoMo, a mobile wallet services provider. Affirma Capital, Kora Management, Tybourne Capital, and Macquarie Capital also participated in the round. Read more

Warburg to Invest USD100m in Indian Consumer Electronics Startup BoAt

Region: Asia

Warburg Pincus has agreed to invest USD100m in BoAt, an India-based consumer electronics startup that sells low-cost bluetooth speakers and other personal electronics products. Read more

Endiya Partners Reaches USD75m Final Close for India VC Fund

Region: Asia

Endiya Partners has reached a INR5b (approximately USD75m) final close for their second fund. The vehicle will make early-stage investments in startups in the consumer internet services, health care, SaaS, and financial technology sectors. Read more

SoftBank Leads Undisclosed Series C for Brazilian Online Accounting Services Startup Contabilizei

Region: Latin America

SoftBank’s Latin America Fund led an undisclosed Series C for Brazil-based online accounting services startup Contabilizei, with follow-on from KaszeK Ventures, Point72 Ventures, Quona Capital, and IFC. Read more

Greenspring Associates Leads USD35m Series B for Colombian Proptech La Haus

Region: Latin America

Greenspring Associates led a USD35m Series B for Colombia-based proptech La Haus, with participation from Hometeam Ventures and follow-on from Acrew Capital, KaszeK Ventures, NFX, IMO Ventures, and Zillow co-founder Spencer Rascoff. Read more

Australis Partners Acquires Stakes in Mexico’s Sekura and Chile’s Galénica

Region: Latin America

Australis Partners has acquired a majority stake in Mexico-based multiline insurance company Sekura for an undisclosed amount. As part of the transaction, Arpa Capital and non-executive shareholders exited from the ownership of Sekura. Australis Partners also recently acquired an 80% stake in Chile-based vitro diagnostic company Galénica. Read more

SP Ventures Reaches USD25.3m Second Close for AgVentures II

Region: Latin America

SP Ventures has reached a BRL130m (approximately USD25.3m) second close for AgVentures II, with a BRL40m (USD7.8m) commitment from French animal nutrition company Adisseo and US phosphate mining company Mosaic. Read more

Accial Capital Invests USD21m Debt in Indonesian Fintech Pintek

Region: Asia

Accial Capital has invested USD21m in debt in Pintek, an Indonesia-based fintech platform that provides credit to students and their families, educational institutions, and their suppliers. Read more

Innova Capital-Backed Prime Label Acquires Slovenian Digital Printing House LabelProfi

Region: CEE & CIS

Innova Capital-backed Prime Label Group has acquired a majority stake in Slovenia-based digital printing house LabelProfi. Read more

Omnivore Invests Seed Round for Indian Agtech Agri10x

Region: Asia

Omnivore has invested an undisclosed seed round for Agri10x, an India-based agtech that operates a blockchain-based marketplace connecting farmers and buyers. Read more

Capria Commits USD2m to Angel Ventures Pacific Alliance Fund II

Region: Latin America

Capria Ventures has invested USD2m in Angel Ventures Pacific Alliance Fund II. The vehicle, managed by Angel Ventures, will focus on addressing gaps in financial inclusion, food security, and access to education and information in Mexico, Colombia, Peru, and Chile. Read more

Appian Reaches USD775m Final Close for Appian Natural Resources Fund II

Region: Latin America

Appian Capital has reached a USD775m final close for its second fund. The vehicle will focus on investments in metals and mining, targeting assets in jurisdictions with proven geology, supportive governments, and a robust legal framework including Brazil, Australia, Mexico, Peru, Chile, and Canada, where Appian has existing operations. Read more

SHUAA Capital-Led Consortium Completes USD308m Debt Buyout of Dubai-Based Stanford Marine Group

Region: Middle East

SHUAA Capital completed a debt buyout of Stanford Marine Group’s AED1.13b (approximately USD308m) facility, including offshore services related to the oil and gas industry in the Middle East. Read more

Hanwha Leads USD300m Investment in Grab Financial

Region: Asia

South Korea’s Hanwha Asset Management led a USD300m investment in Southeast Asian ride-hailing and food delivery giant Grab’s fintech business. Flourish Ventures and Arbor Ventures, as well as existing investors GGV Capital and K3 Ventures also participated in the round. Read more

Bow Wave Capital Management Leads USD175m Investment in Mynt 

Region: Asia

Philippine mobile wallet GCash has raised more than USD175m from Bow Wave Capital Management. Bow Wave now has a 14% stake in Mynt, which operates GCash. Read more

Lion’s Head Facility for Energy Inclusion Reaches Final Close

Region: Africa

The Facility for Energy Inclusion (FEI), managed by Lion’s Head Global Partners, reached a final close of USD145m, with a total potential fund size of up to USD400m. KFW contributed an additional USD24m toward the final close. The African Development Bank is the anchor sponsor of FEI. Additional equity commitments include the European Commission and Norfund. Read more

Intel Capital, TPG Growth, and EchoVC Lead USD85m Series B for Kenya’s Global Agricultural Data & Analysis Platform Gro Intelligence

Region: Africa

Intel Capital, Africa Internet Ventures (a strategic partnership between TPG Growth and EchoVC), and the family offices of Ronald Lauder and Eric Zinterhofer led a USD85m Series B for Gro Intelligence, a Kenya-based, AI-powered insights company focused on the global agriculture industry. Schusterman Family Investments, Dick Parsons, Rethink Food, and unnamed family offices also participated in the round, and existing investors DCVC and GGV Capital followed on. Read more

Fubon Life Insurance Commits USD85m to Coller and Hamilton Lane Funds

Region: Asia

Taiwan-based insurer Fubon Life Insurance has committed a combined USD85m to two PE funds: Fubon committed USD65m to Coller International Partners VIII, a vehicle managed by Coller Capital; and USD20m to Hamilton Lane Secondary Fund V. Read more

Westbridge Exits Indian Gaming and Sports Media Company Nazara Technologies to Plutus Wealth Management

Region: Asia

Westbridge Capital has exited India-based gaming and sports media company Nazara Technologies to Plutus Wealth Management via a share sale worth INR5b (approximately USD68.5m). Read more

Denmark’s IFU Leads USD38m Series B for Nigerian Hybrid Solar Power Solutions Provider Daystar

Region: Africa

Denmark’s Investment Fund for Developing Countries (IFU) led a USD38m Series B for Nigeria-based hybrid solar power solutions provider Daystar Power, with participation from French impact infrastructure fund STOA, Proparco, and Morgan Stanley Investment Management. Read more

Actis Exits Stake in Nigerian Marine Logistics Company C&I Leasing to Peace Mass Transit

Region: Africa

Actis has exited its stake in C&I Leasing, a Nigeria-based company offering fleet management, outsourcing, and marine services, via a trade sale to Peace Mass Transit. Read more

Sequoia India Leads USD30m Investment in Indonesian Digital Investment Platform Bibit

Region: Asia

Sequoia Capital India led a USD30m investment in Indonesia-based digital investment platform Bibit, with follow-on from East Ventures, EV Growth, AC Ventures, and 500 Startups. Read more

Horizons Ventures and Alpha JWC Lead USD25m Series A for Indonesian Digital Investment Platform Ajaib

Region: Asia

Horizons Ventures and Alpha JWC led a USD25m Series A for Indonesia-based digital investment platform Ajaib Group, with follow-on from SoftBank Ventures Asia, Insignia Ventures, and Y Combinator. Read more

QED Investors Leads USD17.5m Series A for Chilean Insurtech Betterfly

Region: Latin America

QED Investors led a USD17.5m Series A in Betterfly (formerly Burn to Give), a Chilean certified B-Corp insurtech providing life insurance to SMEs and incentivizing policyholder’s wellbeing with subsidized coverage. Read more

Openspace Ventures, Northstar, Alpha JWC, and Others Invest Pre-Series B for Indonesian Edtech Zenius

Region: Asia

New investors Openspace Ventures and Alpha JWC Ventures and existing investors the Northstar Group, Kinesys, and BeeNext have invested an undisclosed pre-Series B round for Indonesia-based edtech Zenius Education. Read more

Global Private Equity Conference 2021 | 17-20 May 2021

Virtual Program | Registration Coming Soon

AVCJ Southeast Asia Private Markets Outlook | 28 January 2021
EMPEA members receive a 15% discount (Contact for discount code)
Pension Bridge ESG Summit | 23-25 February 2021
Virtual summit
Reimagine SAVCA 2021 Private Equity Industry Conference | 3-4 March 2021
Virtual and in-person (Sun City Resort, South Africa)
Venture Summit Virtual Connect West | 16-18 March 2021
Virtual summit
Latest EMPEA Data & Intelligence
EMPEA’s Mid-Year 2020 Global Private Capital Industry Data & Statistics*
2020 YTD Trends in VC+Tech Dealmaking
2020 Global Limited Partners Survey
Legal & Regulatory Bulletin – Issue No. 29, June/July 2020
 Trends in Global VC+Tech

* Available to EMPEA members only

New: EMPEA Member Profile

EMPEA recently spoke with Lenna Koszarny at Horizon Capital about the evolution of the private capital landscape in Emerging Europe and how the firm’s mandate and investment strategy have shifted to reflect the growing tech opportunity in the region and Ukraine in particular.

“Technology has emerged as the ultimate equalizer – eliminating borders and enabling founders from any nation to seize opportunities to compete in global markets. With education rooted in math and sciences, and proficiency in cybernetics, programming, and problem-solving, Ukraine’s tech talents have put the country firmly on the map, growing the IT industry from USD110m in 2003 to circa USD5b in 2019, a CAGR of 27%.”

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