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KKR, Alibaba and Ping An Group to Invest US$300 Million in China-based 58 Daojila (Asia)
Global investment firm KKR, China-based e-commerce company Alibaba and China-based insurance company Ping An Group have agreed to invest US$300 million in China-based online marketplace 58 Daojia (“58 Home”), a subsidiary of 58.com, in a Series A funding round. The company will use the capital to enhance its platform with new investments in marketing, research and development, and other operating… Read More
Actis Sells Its Remaining Stake in Phoenix Lamps to Suprajit Engineering (Asia)
Pan-emerging markets private equity firm Actis has sold its remaining stake in India-listed automotive lighting company Phoenix Lamps to auto component manufacturer Suprajit Engineering via an off market sale for INR271.2 million (approximately US$4.2 million). Actis sold its 10.88 percent stake at a share price of INR89 (approximately US$1.40). Read More
Northstar Group’s Venture Arm NSI Ventures Raises US$80 Million for Its Debut Fund (Asia)
Southeast Asia-focused early-stage technology investor NSI Ventures, the venture arm of Southeast Asia-focused private equity fund manager Northstar Group, has closed its debut fund with more than US$80 million in capital commitments. NSI Ventures invests in startups in the areas of consumer applications, fintech, cloud software and smart hardware. Northstar Group was an anchor investor in the fund. Read More
Golden Gate Ventures Invests in Singapore-based Companies HipVan and MoneySmart (Asia)
Southeast Asia-focused early-stage venture capital firm Golden Gate Ventures has led a SGD4.7 million (approximately US$3.3 million) Series A round for Singapore-based HipVan, an online store for designer furniture. Other investors in the round included early-stage venture capital firm East Ventures, family office LionRock Global and several individual investors. Separately, Golden Gate Ventures has participated in a SGD2.8 million (approximately… Read More
NBK Capital Partners Exits Turkey-based Kiliç Deniz (CEE and CIS)
NBK Capital Partners, a private equity and mezzanine fund manager focused on the Middle East and North Africa region, has sold its stake in Turkey-based Kiliç Deniz, an aquaculture company that specializes in sea water and fresh water fish production. The transaction was structured through NBK Capital Equity Partners Fund I. Financial details of the transaction were not disclosed. Read More
FountainVest Partners-backed IMAX China Completes an HKD1.92 Billion IPO (Asia)
IMAX China, a China-based subsidiary of entertainment technology company IMAX Corporation, has raised HKD1.92 billion (approximately US$248 million) in an initial public offering (IPO) on the Hong Kong Stock Exchange. The company sold 62 million shares at a price of HKD31 (approximately US$4) apiece. China-focused private equity firm FountainVest Partners sold 11 million shares, returning HKD342 million (approximately US$44 million).… Read More
Ascent Capital Africa Raises KES8 Billion for Ascent Rift Valley Fund (Sub-Saharan Africa)
East Africa-focused private equity firm Ascent Capital Africa has reached a final close for Ascent Rift Valley Fund with more than KES8 billion (approximately US$76 million) in capital commitments, exceeding the initial target of KES6 billion (approximately US$57 million). The fund invests in Kenya, Uganda and Ethiopia. Local pension funds Kenya Power Pension Fund and Nation Media Group Pension Fund… Read More
Amethis Finance, DEG, Swedfund and FMO Provide a Loan to Ecobank Nigeria (Sub-Saharan Africa)
Amethis Finance, a fund manager that provides debt and equity financing to companies in Africa, and development finance institutions DEG, Swedfund and FMO have provided a US$75 million syndicated subordinated term loan to commercial bank Ecobank Nigeria. Amethis invested US$15 million, while DEG and Swedfund invested US$20 million and US$10 million, respectively. FMO, which arranged the loan, invested US$30 million.… Read More
SSG Capital Management Reaches a US$325 Million Final Close for Its Fourth Fund (Asia)
Asia-focused asset management firm SSG Capital Management has reached a final close for its fourth fund, SSG Capital Partners IV, with US$325 million in commitments. The fund focuses on higher grade secured private lending to corporations in Asia, rather than the distressed debt strategy of SSG’s previous funds. Read More
The Abraaj Group Raises MXN3.2 Billion with Aditya Birla Group (Asia, Latin America)
Global growth markets investor The Abraaj Group has closed on the issuance of MXN3.2 billion (approximately US$191 million) of Mexican publically traded certificates, or CKD (Certificado de Capital de Desarrollo). The Mexico-focused CKD will invest in mid-sized businesses in the retail, consumer goods, healthcare, education, logistics and financial services sectors. Separately, Abraaj has partnered with Aditya Birla Group, an India-based… Read More
Anchor Equity Partners Reaches a Final Close for Its Second Fund (Asia)
South Korea-focused Anchor Equity Partners has reached a final close for its second fund with US$850 million in capital commitments. The fund, which focuses on buyout, growth capital and industry consolidation opportunities, surpassed its target of US$750 million. Read More
Gaja Capital Invests INR650 Million in SportzVillage (Asia)
India-focused private equity firm Gaja Capital has invested INR650 million (approximately US$9.9 million) in India-based Junior Sports and Services, operator of sports and fitness education company SportzVillage. The transaction was structured through Gaja Capital III. The company plans to use the new capital to expand its operations within India. Read More