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CrossBoundary Energy Fund I Reaches a US$8 Million First Close (Sub-Saharan Africa)
Investment and economic advisory firm CrossBoundary has reached a first close on CrossBoundary Energy Fund I with US$8 million in capital commitments. The fund, which plans to invest in Africa-based businesses in the commercial and industrial solar sector, also announced its first investment in a Kenya-based 858 kWp solar installation project. Investors in the first close included family offices Blue… Read More
Linzor Capital Partners to Buy General Electric’s Mexican Equipment Business (Latin America)
Latin America-focused private equity firm Linzor Capital Partners has agreed to acquire the Mexico-based equipment lending and leasing business of multinational conglomerate General Electric. The transaction includes over US$1.1 billion in assets. Financial details of the transaction, which is subject to regulatory approval and expected to close in the first quarter of 2016, were not disclosed. Read More
Golden Gate Ventures Invests in Vietnam-based Lozi (Asia)
Southeast Asia-focused early-stage venture capital firm Golden Gate Ventures and Japan-based internet media firm DesignOne Japan have invested in Lozi, a Vietnam-based food ordering company. The company plans to use the new funds to grow the number of its website and mobile app users and to develop technology that will connect restaurants to users. Financial details of the transaction were… Read More
Novastar Ventures East Africa Fund I Reaches a Final Close (Sub-Saharan Africa)
East Africa-focused venture capital firm Novastar Ventures has reached a final close on Novastar Ventures East Africa Fund I with US$80 million in capital commitments. Investors in the fund included development finance institutions CDC, FMO, Norfund and European Investment Bank. Multinational bank JP Morgan, global multi-asset investor AXA Investment Management and Netherlands-based lender Triodos Bank also committed to the fund.… Read More
Clearwater Capital Partners Partially Exits Jamna Auto (Asia)
Clearwater Capital Partners, an investment firm focused on credit and special situations in Asia, has exited a 16.5 percent stake in India-based auto component maker Jamna Auto Industries. Clearwater Capital Partners returned INR770 million (approximately US$11.5 million) in open market transactions on the Bombay Stock Exchange and the National Stock Exchange on 7 December 2015. Clearwater Capital Partners, which held… Read More
Actis Invests in Food Lover’s Market (Sub-Saharan Africa)
Pan-emerging markets private equity firm Actis has acquired a minority stake in South Africa-based food retailer Food Lover’s Market for ZAR760 million (approximately US$54 million). The company owns more than 120 stores across 11 countries in Africa. Food Lover’s Market intends to use the funding to continue its growth both in South Africa and in other Sub-Saharan African countries. Read More
ChrysCapital Acquires Sequoia Capital’s Stake in GVK Biosciences for US$25 Million (Asia)
India-focused private equity firm ChrysCapital has acquired a ten percent stake in India-based contract research and discovery services company GVK Biosciences from Sequoia Capital for US$25 million. ChrysCapital has also reportedly committed additional funds to back GVK Biosciences’ plans to grow through acquisitions. The transaction, which recently received Foreign Investment Promotion Board approval, valued the company at US$250 million. Read More
Enterprise Investors Partially Exits Kofola via IPO (CEE and CIS)
Czech Republic-based soft drink producer Kofola, which is backed by Central and Eastern Europe-focused private equity and venture capital firm Enterprise Investors, has raised CZK11.37 billion (approximately US$446 million) in an initial public offering (IPO) on the Prague Stock Exchange. Enterprise Investors’ Polish Enterprise Fund VI, which originally invested in Kofola in 2008, sold a six percent stake for EUR23… Read More
Goldman Sachs Invests US$20 Million in China-based Ascletis (Asia)
Global banking, securities and investment management group Goldman Sachs has invested US$20 million in China-based biotechnology company Ascletis. The company focuses on the discovery, development and commercialization of treatments for infectious diseases and cancer and owns four products in the clinical phase. Ascletis will use the funds to strengthen its research and development capacity and broaden the scope of its… Read More
Old Mutual Private Equity Acquires a Majority Stake in MoreCorp (Sub-Saharan Africa)
Old Mutual Private Equity (OMPE), a division within Africa-focused investment manager Old Mutual Alternative Investments, has acquired a 70 percent stake in South Africa-based sport, leisure and wellness business MoreCorp for reportedly more than ZAR300 million (approximately US$20.8 million). The transaction was structured through OMPE’s Fund IV. MoreCorp owns golf retailers The Pro Shop, World of Golf and Playmoregolf and cycling… Read More
Trifecta Capital Invests in NephroPlus, Rivigo and HelpChat (Asia)
India-focused venture debt firm Trifecta Capital Advisors has invested INR360 million (approximately US$5.4 million) across three India-based start-ups. The companies that received investment were dialysis network provider NephroPlus, logistics firm Rivigo and personal assistant mobile application HelpChat. Financial details of the individual transactions were not disclosed. Read More
Navis Capital Partners Agrees to Sell Golden Foods Siam to BRF for US$360 Million (Asia)
Southeast Asia-focused private equity firm Navis Capital Partners has agreed to sell Thailand-based poultry producer Golden Foods Siam (GFS) to Brazil-listed food producer BRF for US$360 million. Navis originally invested in GFS in 2009 and is reportedly set for a 3.4x return on its investment. The transaction is subject to regulatory approval in Japan and Germany. Read More