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Ibtikar Fund Reaches USD15m First Close for Palestine Tech Fund

Ibtikar Fund reached a USD15m first close for its second fund targeting investments in early-stage tech companies based in Palestine as well as in Palestinian founders throughout the MENA region. The vehicle has a USD30m target. Read More

Actis-Backed Honoris United Universities Acquires South Africa’s FEDISA Fashion School

Actis-backed Honoris United Universities agreed to acquire South Africa-based fashion and design institution FEDISA Fashion School. Honoris United Universities acquired Egypt-based Merit University in December 2021. Read More

Vantage Provides ~USD28.4m Mezzanine Financing for South Africa’s Seaton Estates

Vantage Capital agreed to provide ZAR430m (~USD28.4m) in mezzanine funding for the development of Seaton Estates, a residential coastal development located on the North Coast of Kwa-Zulu Natal, South Africa. Read More

Ethos and BluePeak Invest USD31.5m in Mauritius’ Grit Real Estate Income

Ethos Mezzanine Partners and BluePeak Private Capital invested USD31.5m in Grit Real Estate Income Group, a pan–African real estate company headquartered in Mauritius. Read More

Goodwell Leads USD50m Series C for Kenya’s Copia Global

Goodwell Investments led a USD50m Series C for Copia Global, a Kenya-based e-commerce logistics platform, with participation from Zebu Investment Partners, DFC and Koa Labs, and follow-on from Lightrock, DEG and Perivoli Innovations. Read More

Tiger Global and Sequoia India Lead USD80m Series C for Indonesia’s Lummo

Tiger Global and Sequoia Capital India led a USD80m Series C for Lummo (formerly BukuKas), an Indonesia-based startup focused on digitizing SMEs, with participation from CapitalG and angels including Max Bittner (Lazada) and Santiago Sosa (Nuvemshop). Read More

Africa50 Leads USD28m Series C for Kenya’s Poa Internet

Africa50 led a USD28m Series C for Kenya-based ISP Poa Internet, with follow-on from Novastar. Read More

Tiger Global, Steadview Capital and Dragoneer Lead USD75m Series D for India’s INDmoney

Tiger Global, Steadview Capital and Dragoneer Investment Group led a USD75m Series D for India-based wealth management platform INDmoney at a reported USD640m valuation. Read More

Paradigm and Kleiner Perkins Lead USD110m Series B for Bahrain’s Rain Financial

Kleiner Perkins and Paradigm led a USD110m Series B for Bahrain-based crypto exchange Rain Financial at a reported USD500m valuation, with participation from Coinbase Ventures, Global Founders Capital, MEVP, Cadenza Ventures, JIMCO and CMT Digital. Read More

Index Ventures Leads USD255m Series C for Turkey’s Dream Games

Index Ventures led a USD255m Series C for Turkey-based game studio Dream Games, with participation from Black Rock, Makers Fund, IVP,  Kora and Balderton Capital. Read More

Liberty City Ventures Leads USD358.8m Round for Hong Kong’s Animoca Brands

Liberty City Ventures led a USD358.8m round for Hong Kong-based metaverse gaming company Animoca Brands at a reported USD5b premoney valuation, with participation from 10T Holdings, C Ventures, Delta Fund, Gemini Frontier Fund, Gobi Partners Greater Bay Area, Kingsway, L2 Capital, Mirae Asset, Pacific Century Group, ParaFi Capital, Provident and Sequoia China, among others. Read More

Lightrock India, Quona Capital and Asia Impact Lead USD46m Series C for India’s Arya

Lightrock India, Quona Capital and Asia Impact led a USD46m Series C for India-based agtech Arya. DFC and others provided an additional USD14m as debt. Read More