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Africa Internet Group Raises EUR225 Million (Sub-Saharan Africa)
Nigeria-based e-commerce company Africa Internet Group (AIG) has secured EUR225 million (approximately US$244 million) from investment bank Goldman Sachs, South Africa-based telecom company MTN Group and global e-commerce investment company Rocket Internet. This amount is in addition to France-based insurer AXA’s EUR75 million (approximately US$81 million) investment in the company that was announced in February 2016. AIG owns several technology… Read More
Union Square Ventures, LocalGlobe and SmartCap Invest US$2 Million in Jobbatical (CEE and CIS)
Jobbatical, an Estonia-based platform that connects jobseekers to global tech jobs, has raised a US$2 million financing round from venture capital firms Union Square Ventures and LocalGlobe. Early-stage venture capital fund manager SmartCap also participated in the round. Jobbatical plans to use the new funding to improve its product and user experience, grow its team and open a regional hub… Read More
ALLVP Invests in Mexico-based Mobile Virtual Network Operator Weex (Latin America)
Mexico-focused venture capital firm Antoni & Lelo de Larrea Venture Partners (ALLVP) has invested in Weex, a Mexico-based mobile virtual network operator. The company offers a platform on which users can create their own personalized mobile phone plans from a selection of talk, text and data bundles. Financial details of the transaction were not disclosed. Read More
U.S. President Obama’s Global Entrepreneurship Summit at Stanford University, Deadline 18 March 2016
Now accepting applications for investors, funders, accelerators and incubators On 22-24 June 2016, United States President Barack Obama will host the seventh annual Global Entrepreneurship Summit (GES) at Stanford University. The application for investors, funders, accelerators and incubators to apply to attend is now open. GES offers an opportunity to meet hundreds of dynamic, hand-picked entrepreneurs from around the world, who seek… Read More
Gulf Capital Expands to Sub-Saharan Africa Through a Partnership with Serengeti Capital
Middle East-focused alternative asset manager Gulf Capital will expand its private debt business to Sub-Saharan Africa through a partnership with Africa-focused investment bank Serengeti Capital. Through this partnership, Serengeti Capital will be advising Gulf Capital on credit and mezzanine investment opportunities in Sub-Saharan Africa. Gulf Capital will make investments in Sub-Saharan Africa through Gulf Credit Opportunities Fund II, which recently… Read More
PENM Partners Sells a 30 Percent Stake in Vietnam-based European Plastics Window Company (Asia)
Vietnam-focused private equity firm PENM Partners has sold a 30 percent stake in European Plastics Window Company—a Vietnam-based door, window and partition manufacturer that markets under the Eurowindow brand—to Japan-based sliding door manufacturer Bunka Shutter. PENM Partners originally invested in the company in 2007 and made a follow-on investment in 2011, both structured through its fund Private Equity New Markets… Read More
AION Capital Partners Agrees to Acquire GE Capital’s India Lending Businesses (Asia)
AION Capital Partners, a joint venture between private equity firms ICICI Venture and Apollo Global Management, has agreed to back a consortium of former GE Capital executives to acquire GE Capital’s India commercial lending and leasing businesses, namely GE Capital Services India and GE Money Financial Services. The transaction will include approximately US$400 million in ending net investment. The companies,… Read More
Warburg Pincus Agrees to Sell a 16 Percent Stake in China Biologic Products for US$425 Million(Asia)
Global private equity firm Warburg Pincus has agreed to sell a 16 percent stake in China-based biopharmaceutical company China Biologic Products for US$425.7 million via a secondary offering on the NASDAQ Stock Market. Warburg Pincus originally invested in the company in 2010 in a transaction structured through Warburg Pincus Private Equity X. The company manufactures more than 20 different dosage… Read More
Innova Capital Sells Provus Group to Wirecard (CEE and CIS)
Mid-market private equity firm Innova Capital has sold Romania-based payments processing company Provus Group to Germany-based electronic payments company Wirecard. According to Wirecard, the compensation owed within the scope of this transaction was EUR32 million (approximately US$35 million) in cash payments. Innova originally acquired the company in 2011. Read More
Souq.com Raises US$275 Million from Tiger Global, Naspers, SCPE, IFC and Baillie Gifford (MENA)
United Arab Emirates-based online marketplace Souq.com has raised US$275 million from global investment firm Tiger Global Management, South Africa-based internet and media company Naspers, Standard Chartered Bank’s private equity arm Standard Chartered Private Equity (SCPE), development finance institution International Finance Corporation (IFC) and global investment management firm Baillie Gifford. SCPE contributed US$50 million to the round. Read More
Actis Exits Plateno Hotel Group and Agrees to Sell Stake in Emerging Markets Payments (Asia, MENA)
Pan-emerging markets private equity firm Actis has sold its minority stake in China-based budget and mid-range hotel chain Plateno Hotel Group to China-based hotel group Shanghai JinJiang International Hotels (JinJiang Hotels). The transaction took place as part of JinJiang Hotels’ acquisition of an 81 percent stake in Plateno at an enterprise value exceeding CNY10 billion (approximately US$1.53 billion). Financial details… Read More
Elbrus Capital-led Consortium Agrees to Acquire HeadHunter from Mail.ru Group (CEE and CIS)
Mail.ru Group, a London-listed internet access service company headquartered in Russia, has agreed to sell Russia-based online recruitment website HeadHunter to a consortium of investors led by Russia and CIS-focused private equity firm Elbrus Capital for RUB10 billion (approximately US$131 million). The amount will be paid in two tranches before the end of April 2016. HeadHunter was founded in 2000… Read More