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DMI Alternatives Reaches USD40m Final Close for India Digital Finance Fund

DMI Alternatives reached a USD40m final close for The Sparkle Fund. The vehicle focuses on alternative lending, consumer finance, financial services IT,  payments, regtech, wealthtech and AI platforms to drive automation in India. Read More

Northern Light Venture Capital Reaches ~USD309m Final Close for Fund IV

Northern Light Venture Capital reached a CNY2b (~USD309m) final close for its CNY-denominated fourth fund targeting investments in early-stage companies across the TMT, advanced technology and healthcare sectors in China and the US. Read More

ARCH EM Partners Provides USD2.5m in Financing to South Africa’s Sun Exchange

ARCH Emerging Market Partners, through its Africa Renewable Power Fund, provided USD2.5m in financing to South Africa-based solar leasing platform Sun Exchange in the form of a convertible note. ARCH EM Partners led the company’s Series A in 2020. Read More

Global Ventures Leads USD4.5m Pre-Series A for Egypt’s Cartona

Global Ventures led a USD4.5m pre-Series A for Cartona, an Egypt-based e-commerce platform connecting retailers and manufacturers, with participation from Kepple Africa, T5 Capital and angel investors. Read More

CDC Invests in Fatima Gobi Ventures’ Pakistan Tech Fund

CDC Group made an undisclosed anchor investment in Techxila Fund I, a fund managed by Fatima Gobi Ventures targeting investments in early-stage tech companies across Pakistan. Read More

Quona Leads USD10m Series A for Cross-Border Payments Startup Verto

Quona Capital led a USD10m Series A for Verto, a global B2B payments platform that allows SMEs to make payments to their suppliers, with participation from Treasury, Middle East Venture Partners, TMT Investments, Unicorn Growth Capital, Zrosk Investment Management and P1 Ventures. Read More

DPI Partially Exits Nigeria’s Food Concepts via Sale to ACA

DPI sold a 31% stake in Nigeria-based QSR group Food Concepts to African Capital Alliance for an undisclosed amount. DPI will retain a majority stake in the company. Read More

Falcon Edge Leads USD200m+ Round for India’s Ola Electric

Falcon Edge Capital led a USD200m+ round for Ola Electric, the EV unit of India-based rideshare Ola, with participation from SoftBank and others at a reported USD3b valuation. TechCrunch reports that the round has not yet closed. Read More

Tiger Global Leads USD207m Series F for India’s OfBusiness

Tiger Global led a USD207m Series F for India-based B2B marketplace OfBusiness, with participation from SoftBank and Alpha Wave Incubation, at a reported USD3b valuation. Read More

Fidelity and B Capital Lead USD570m Round for India’s Meesho

Fidelity Management and B Capital led a USD570m round for India-based social commerce platform Meesho at a reported USD4.9b valuation, with participation from Footpath Ventures, Trifecta Capital and Good Capital, and follow-on from Prosus Ventures, SoftBank Vision Fund 2 and Facebook. Read M Read More

MSA Capital Leads USD15m Pre-Seed & Seed Round for Pakistan’s QisstPay

MSA Capital led a USD15m combined pre-seed and seed round with a mix of equity and debt for Pakistan-based BNPL platform QisstPay. Global Founders, Fox Ventures, First Check Ventures and angel investors including Simone Mancini and Johnny Mitrevski (Scalapay) participated in the round. Read More

Tarsadia and QED Investors Lead USD110m Series E+ for Mexican Fintech Konfio

Tarsadia Capital and QED Investors led a USD110m Series E+ for Konfio, a Mexican lending platform for SMEs, with follow-on from SoftBank, KASZEK, VEF, IFC and Lightrock.  Read More