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Kibo Capital Partners Partially Exits Madison Finance Company (Sub-Saharan Africa)
Kibo Capital Partners, a fund manager focused on Eastern and Southern Africa and the islands of the Indian Ocean, has partially exited Zambia-based microfinance institution Madison Finance Company (MFinance) through the redemption of its preference shares. Kibo Capital Partners originally acquired a 25 percent stake in MFinance through The Kibo Fund I in 2013. Financial details of the transaction were not… Read More
Berytech Fund Announces Investments in Instabeat and Other Lebanon-based Companies (MENA)
Lebanon-focused venture capital firmBerytech Fund has announced just under US$20 million in investments across 13 early-stage companies. The transactions were structured through Berytech Fund II. Berytech’s investments in Lebanon-based companies included US$4 million in swimming tracker Instabeat and US$2 million each in telecom software provider Mobinets, video-on-demand platform Cinemoz, Lifestyle website Ounousa and dating website Et3arraf. Read More
Salim Group to Raise US$1 Billion from Northstar Group, TPG Capital and Gateway Management (Asia)
Indonesia-based conglomerate Salim Group will raise a reported US$1 billion from a consortium including Southeast Asia-focused private equity fund manager Northstar Group and global private investment firm TPG Capital. The consortium, which also includes investment firm Gateway Management, will provide secured financing to Salim Group companies. The Salim Group will in turn pledge shares of its Hong Kong-listed entity First… Read More
Olympus Capital Asia Invests US$45 Million in Li Tong Group (Asia)
Private equity firm Olympus Capital Asia has invested US$45 million in Hong Kong-based Li Tong Group (LTG), a reverse supply chain services provider and electronic waste processor. The transaction was structured through Asia Environmental Partners. With Olympus Capital Asia’s backing, LTG intends to expand in emerging markets such as India and China. Read More
Apollo Global Management Agrees to Acquire Slovenia-based Raiffeisen Banka (CEE and CIS)
Global alternative investment manager Apollo Global Management has reached an agreement to acquire Raiffeisen Banka, the Slovenian arm of Austria-based corporate investment bank Raiffeisen Bank International. This acquisition is reportedly part of Apollo’s plans to create a larger bank in Slovenia through acquisitions of private and state-owned banks. Financial details of the transaction, which is subject to regulatory approval, were… Read More
Tiger Global and Accel Partners Participate in a Series B Round for Zinka Logistics Solutions (Asia)
Global investment firm Tiger Global and global venture capital firm Accel Partners have participated in a US$25 million Series B financing round for Zinka Logistics Solutions, which operates India-based business-to-business logistics service provider BlackBuck. India-based e-commerce company Flipkart and Russian investor Yuri Milner also contributed to the round. Zinka plans to use the funding for company expansion and to build… Read More
Cathay Capital Private Equity Leads a Series D Round for Meet You (Asia)
Cross-border private equity firm Cathay Capital Private Equity has led a Series D financing round for Meet You, a China-based social networking platform for women. Cathay Capital, which structured its investment through its Sino-French Innovation Fund, was also joined by venture capital firm Matrix Partners. Meet You is operated by Xiamen Information Technology and intends to use the funds to transition… Read More
TPG Acquires Actis’s Stake in Asiri Hospital Holding; Acquires Stake in Distillery Company (Asia)
Global private investment firm TPG has acquired a 28 percent stake in Colombo Stock Exchange-listed private healthcare business Asiri Hospital Holding from pan-emerging markets private equity firm Actis. The transaction, which was structured through TPG Growth III, was valued at LKR7.6 billion (approximately US$52 million). Actis originally invested in Asiri in 2012. Separately, TPG has acquired a 50 percent stake… Read More
Nexus Ventures IV Reaches a Final Close with More Than US$450 Million in Capital Commitments (Asia)
India-focused venture capital firm Nexus Venture Partners has reached a final close on its fourth fund, Nexus Ventures IV, with more than US$450 million in capital commitments. Investors in the fund include endowments, foundations and financial institutions from North America, Europe and Asia. The fund will focus on seed and early-stage companies in the consumer retail, financial services, healthcare and… Read More
Morgan Stanley Private Equity Asia to Sell Its Stake in Sino Gas International (Asia)
Asia-Pacific-focused private equity investor Morgan Stanley Private Equity Asia (MSPEA) has agreed to sell its 38.7 percent stake in China-based natural gas distributor Sino Gas International to existing shareholder Hong Kong-listed gas service operator Zhongyu Gas for US$78.7 million. The transaction, which will be structured through Morgan Stanley Private Equity Asia IV, is subject to regulatory approval and scheduled to… Read More
Ethos Private Equity Exits Transaction Capital (Sub-Saharan Africa)
South Africa-focused private equity fund manager Ethos Private Equity has sold its entire 7.7 percent stake in Johannesburg Stock Exchange-listed financial services group Transaction Capital via a book build managed by Rand Merchant Bank for ZAR490 million (approximately US$34 million). The transaction was structured through Ethos Private Equity Fund V. Ethos had been invested in Transaction Capital, which operates both… Read More
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