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XSML’s African Rivers Fund Reaches a US$45 Million First Close (Sub-Saharan Africa)
Central Africa-focused private equity firm XSML has reached a first close for its African Rivers Fund with US$45 million in capital commitments. The fund will provide debt, equity and mezzanine financing to small- and medium-sized enterprises in Central Africa. Investors in the fund included development finance institutions International Finance Corporation, FMO, CDC Group, Agence Française de Développement’s FISEA Fund and… Read More
Axon Partners Group Invests US$2 Million in Mercadoni (Latin America)
International investment group Axon Partners Group has invested US$2 million in Mercadoni, a food delivery platform operating in Mexico and Colombia. The transaction was structured through Axon’s Amerigo Pacific Ventures fund vehicle. With Axon’s support, Mercadoni plans to consolidate its market position in Mexico and Colombia. Read More
Amwal AlKhaleej Sells Its Stake in Sarwa Capital to the Egyptian-American Enterprise Fund (MENA)
Middle East-focused private equity firm Amwal AlKhaleej has sold its stake in Egypt-based consumer finance company Sarwa Capital, the parent company of car loan company Contact Car Trading, to the Egyptian-American Enterprise Fund, an investment fund set up by the United States government. Amwal AlKhaleej originally acquired a majority stake in Contact Car Trading in 2008 through Amwal II. Since… Read More
KFit Raises a US$12 Million Series A Round Led by Venturra Capital (Asia)
Southeast Asia-focused venture capital firm Venturra Capital has led a US$12 million Series A financing round for Malayasia-based mobile fitness-sharing platform KFit. Venture capital firms Sequoia Capital India, 500 Startups and Intres Capital’s Axiata Digital Innovation Fund also participated in the round, as did global trading firm Susquehanna International Group. KFit intends to use the new capital to expand within… Read More
Wamda Capital, twofour54 and Endeavor Catalyst Lead a Series B Round for Mumzworld (MENA)
MENA-focused venture capital firm Wamda Capital, United Arab Emirates-based media and entertainment free zone twofour54 and non-profit Endeavor’s co-investment vehicle Endeavor Catalyst have led a Series A funding round for Mumzworld, a United Arab Emirates-based bilingual e-commerce site that focuses on products for mothers, babies and children. Mumzworld plans to use the new capital for expansion across the Gulf region,… Read More
Advent International Agrees to Acquire an Eight Percent Stake in QuEST Global (Asia)
Global private equity firm Advent International has agreed to acquire an eight percent stake in Singapore-based engineering solutions provider QuEST Global for a reported US$80 million. The transaction values the company at around US$1 billion. Advent International originally bid for the company in December 2015, but lost to a consortium that included global private equity firm Bain Capital and the… Read More
Sequoia Capital India V Reaches a US$920 Million Final Close (Asia)
Venture capital firm Sequoia Capital has reached a final close for its latest India-focused fund, Sequoia Capital India V, with US$920 million in capital commitments. The fund, which will primarily target companies in India, also includes a minority allocation to Southeast Asia. Institutional investors committed US$875 million to the fund, with a GP commitment of US$45 million rounding out the… Read More
Qiming Venture Fund V Reaches a US$648 Million Final Close (Asia)
China-focused venture capital firm Qiming Venture Partners has reached a final close for Qiming Venture Fund V with US$658 million in capital commitments. Investors in the fund included United States-based university endowments Princeton University, Duke University and Massachusetts Institute of Technology; United States-based private foundations the Robert Wood Johnson Foundation, the Mayo Foundation, Commonfund and the Dietrich Foundation; and global… Read More
Nexxus Capital Completes Its Acquisition of IRCC (Latin America)
Nexxus Capital has completed the acquisition of Mexico-based multi-brand restaurant platform Invesionistas en Restaurantes de Carnes y Cortes (IRCC). The acquisition was funded through a capital increase in diversified platform Taco Holding by Nexxus VI and Nexxus VI Trust, funds managed by Nexxus Capital. Taco Holding is a portfolio company of Fideicomiso Nexxus Capital IV and Nexxus Capital Private Equity… Read More
InvAscent Invests in Sandor Medicaids; Sells Stake in Dr. Agarwal’s Healthcare to ADV Partners(Asia)
India-focused private equity firm InvAscent has invested INR600 million (approximately US$8.8 million) in India-based medical device and pharmaceutical distributor Sandor Medicaids. The transaction, which included convertible and non-convertible notes, was composed of a primary issue of shares and a secondary purchase from Somerset Indus Capital Partners, a private equity firm focusing on healthcare in India. InvAscent structured the transaction through… Read More
Verod Capital Growth Fund II Reaches a US$115 Million Final Close (Sub-Saharan Africa)
Nigeria-focused private equity firm Verod Capital has reached a final close for its second fund, Verod Capital Growth Fund II, with US$115 million in capital commitments, exceeding its US$100 million target. Investors in the fund included fund of funds, asset managers, sovereign wealth funds, pension funds, family offices and development finance institutions. The fund has already invested more than 25… Read More
KKR Sells Its Remaining Stake in Masan Consumer to Parent Company Masan Group (Asia)
Global investment firm KKR has sold its remaining stake in Vietnam-based food and beverage company Masan Consumer to parent entity Masan Group. Masan Group’s agreement with Thailand-based beer producer Singha Asia to create a combined food and beverage platform facilitated KKR’s exit. KKR reportedly generated a return of more than 2x on its investments, which included a US$159 million investment… Read More