GPCA covers the latest fund, investment and industry news across our markets in two newsletters: NewsWatch is a weekly round-up of key transactions across asset classes; the Global Tech Brief is a bi-weekly review of tech transactions and innovations with cross-border applications. Subscribe in the left-hand sidebar.

Access past editions of NewsWatch here.

Multiply Ventures Reaches ~USD33.3m Final Close for Early-stage India VC Fund

Multiply Ventures reached a INR2.6b (~USD33.3m) final close for its first fund, which will make early-stage investments in fintech, edtech, retail and health in India. Read More

Launch Africa Ventures Reaches USD36.3m Final Close for Early-stage VC Fund

Launch Africa Ventures reached a USD36.3m final close for its first fund. The vehicle will invest in early-stage B2B and B2B2C startups across Africa. Read More

India’s UpGrad Raises USD225m From Educational Testing Service and Lupa Systems

UpGrad, an India-based edtech for higher education, raised a USD225m round at a USD2.25 reported valuation from investors including Educational Testing Service and James Murdoch’s Lupa Systems. Read More

BNDES To Invest ~USD495m in Funds Managed by Vinci, BTG Pactual, Kinea and Patria

BNDES will invest a combined ~USD495m (BRL2.5b) in Brazil-based infrastructure funds managed by Vinci Partners, BTG Pactual, Kinea and Patria. Read More

Alpha Wave Leads USD45m in Series C for India’s Chaayos

Alpha Wave Ventures led a USD45m Series C for India-based tea-focused café chain Chaayos at a reported USD225-250m valuation, with follow-on from Tiger Global, Elevation Capital and Think Investments. Read More

DFC To Invest USD30m in Omnivore’s Agritech & Climate Sustainability Fund

DFC has agreed to invest up to USD30m in Omnivore Agritech & Climate Sustainability Fund 3, a fund targeting investments in early-stage startups focused on agriculture, food, climate and the rural economy in India. The vehicle is managed by Omnivore and has a USD130m target. Read More

DFC Commits USD40m to Africa Funds

DFC has agreed to invest a combined USD40m to two Africa-focused funds, including USD25m to West Africa-focused PE fund Uhuru Growth Fund I and USD15m to women-led tech-focused vehicle Norrsken22 Africa Fund. Read More

Sequoia Reaches Combined USD2.85b Final Close for India and Southeast Asia Funds

Sequoia Capital reached a USD2b final close for its early-to-growth stage India fund and a  USD850m final close for its debut Southeast Asia fund. Read More

Red Med Reaches ~USD30m First Close for Morocco PE Fund

Red Med Capital reached a MAD300m (~USD30m) first close for Columbus I. The PE fund, which has a MAD1.1b (~USD110m) target, will invest in Moroccan businesses whose capitalization has been affected by the pandemic. Read More

500 Istanbul Leads USD1m Seed Round for Turkey’s Refine

500 Istanbul led a USD1m seed round for Refine, a React-based web application development platform based in Turkey, with participation from Emre Baran (Cerbos) and Emre Burak Kabakcı (Rakam/Liveramp). Read More

Actis Acquires Indian Highway Toll Road Projects From Welspun Enterprises for USD775m

Actis acquired six India-based operating highway toll road projects from Welspun Enterprises Limited for USD775m. Read More

IndInfravit To Acquire Indian Road Projects From Brookfield Asset Management for USD1.2b

IndInfravit Trust, whose unit holders include CPP Investments, Allianz Capital Partners and OMERS Infrastructure, agreed to acquire five India-based operational road projects from Brookfield Asset Management in a deal valued at USD1.2b. Read More