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AfricInvest and Siparex Reach a First Close for Fonds de Co-Localisation Franco-Tunisien (MENA)
Pan-African private equity firm AfricInvest and private equity firm Siparex have reached a first close for the Fonds de Co-Localisation Franco-Tunisien (FCFT) with EUR20 million (approximately US$22.4 million) in capital commitments. The fund was promoted and equally subscribed by France-based investment bank Bpifrance and the Tunisian branch of the French development agency Caisse des Dépôts et Consignations. FCFT, which will… Read More
Rockaway Capital Leads a US$2 Million Financing Round for Gjirafa (CEE and CIS)
Global technology venture capital firm Rockaway Capital has led a US$2 million financing round for Albania- and Kosovo-based search, e-commerce and online advertising platform Gjirafa. The company, which caters to the Albanian language community, will use the new capital to digitize and index information in Albania and Kosovo and build a native online advertising network for the region. Read More
Investec Africa Private Equity Fund 2 Reaches a US$295 Million Final Close (Sub-Saharan Africa)
Africa-focused asset management firm Investec Asset Management has reached a final close for Investec Africa Private Equity Fund 2 (IAPEF 2) with US$295 million in capital commitments. Investors in the fund included pension funds, endowments, funds of funds and development finance institutions. IAPEF 2 focuses on consumer sector businesses in Africa and has already invested in three companies: South Africa-based… Read More
Amethis Finance and PCM Capital Partners Complete a Follow-on Investment (Sub-Saharan Africa)
Amethis Finance, a fund manager that provides debt and equity financing to companies in Africa, and private equity fund manager PCM Capital Partners (PCP) have completed a follow-on investment through a capital increase and convertible bonds in Côte d’Ivoire-based oil and gas distributor Pétro Ivoire. The Kadio-Morokro family, the family of the company’s founder, also participated in the transaction. PCP… Read More
Karma Ventures Reaches a First Close for its Initial Fund (CEE and CIS)
Estonia-based early-stage venture capital firm Karma Ventures has reached a first close for its debut fund with EUR40 million (approximately US$45 million) in capital commitments. The fund will focus on early-stage companies in Europe. Investors in the fund included Estonia-based investment company Ambient Sound Investments and the Baltic Innovation Fund, the fund of fund initiative launched by the European Investment… Read More
Amadeus Capital Partners Leads a US$40 Million Funding Round for Travelstart (Sub-Saharan Africa)
Technology-focused venture capital firm Amadeus Capital Partners has led a US$40 million financing round for South Africa-based online travel agency Travelstart. South Africa-based mobile telecommunications company MTN Group also participated in the round. Travelstart will use the new capital to expand into key markets and to grow its team and product offerings. Read More
EMPEA Appoints André Roux as Senior Advisor and Africa Council Chair
EMPEA, the global industry association for private capital in emerging markets, announces today that it has appointed André Roux to serve as a Senior Advisor to the organization and Chair of its Africa Council. Mr. Roux previously served on EMPEA’s Board of Directors from the association’s inception in 2004 to 31 December 2013 and he was a Founding Member representing… Read More
EMX Capital Acquires Mexico Unit of Kidde (Latin America)
Mexico-focused private equity fund manager EMX Capital has acquired the Mexico unit of fire and safety products, systems and service provider Kidde. The company manufactures smoke and carbon monoxide detectors, fire extinguishers and safety accessories for both homes and businesses. Financial details of the transaction were not disclosed. Read More
Bamboo Finance Invests US$6 Million in Colombia-based MovilRed (Latin America)
Bamboo Finance, a private equity firm specializing in investing in essential services sectors in emerging economies, has invested US$6 million as part of a Series B financing round for Colombia-based banking correspondent agent network MovilRed. The transaction was structured through Bamboo Finance Financial Inclusion Fund II. MovilRed offers financial and transactional services to consumers across Colombia. Read More
IDG Capital Partners Agrees to Participate in a Financing Round for Kingsoft Cloud Group (Asia)
Hong Kong-listed parent company Kingsoft, China-based investment entity ChinaAMC Special Investment and venture capital firm IDG Capital Partners have agreed to invest US$60 million in China-based cloud hosting, storage and database services company Kingsoft Cloud Group. Kingsoft will invest US$31.1 million, while ChinaAMC Special Investment and IDG will contribute US$26.31 million and US$2.59 million, respectively. Kingsoft Cloud Group will use… Read More
MCI Management Agrees to Sell Its 80 Percent Stake in Invia to Rockaway Capital (CEE and CIS)
Central and Eastern Europe-focused private equity group MCI Management has agreed to sell its 80 percent stake in Czech Republic-based online travel agency Invia to global venture capital firm Rockaway Capital for PLN270 million (approximately US$68 million). Including MCI’s stake, Rockaway Capital will acquire Invia for a reported total transaction value of PLN325 million (approximately US$82 million). MCI originally invested… Read More
CDIB Capital Invests US$30 Million in Anhui Dong Jin Renewable Resource Technology (Asia)
CDIB Capital, the international private equity arm of China Development Financial, has invested US$30 million in China-based recycled fiber, filament and fabric manufacturer Anhui Dong Jin Renewable Resource Technology (Dong Jin). The transaction was structured through CDIB Capital Asia Partners Fund. With CDIB Capital’s support, Dong Jin will expand its production capacity and enhance research and development efforts. Read More