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NDE Capital Holds a US$107 Million First Close for NDE Capital II (Asia)
ASEAN-focused private equity firm NDE Capital has held a first close on its second fund, NDE Capital II, with US$107 million in capital commitments. The fund, which has a US$350 million hard cap, will allocate 60 percent of its capital to investments in China and 40 percent to investments in Indonesia. Investors in the first close included funds of funds… Read More
Capital Group and Ping An Ventures Participate in a US$2 Billion Round for Didi Kuaidi (Asia)
China-based Didi Kuaidi, a taxi-hailing app operator, has raised a US$2 billion financing round from a group of investors that included global private equity firm Capital Group Private Markets and the venture capital arm of China-based Ping An Insurance, Ping An Ventures. Capital Group invested around US$350 million in the round. The latest funding round values the company at a… Read More
Xiaozhu.com Raises US$60 Million from Joy Capital, Morningside, CITIC Capital and Magic Stone (Asia)
China-based Xiaozhu.com, a short-term home-rental platform, has raised a US$60 million Series C financing round led by Joy Capital, a venture capital spinout from Legend Capital. Private investment group Morningside Technologies, China-focused private equity firm CITIC Capital and China-focused fund of funds and secondary investor Magic Stone Alternative Investments also participated in the round. Xiaozhu.com was launched in 2012 and… Read More
Metier Exits South Africa-based Property Redeveloper and Manager South Point (Sub-Saharan Africa)
Metier, a private equity and alternative asset management firm, has sold its stake in South Point, a South Africa-based company that redevelops distressed urban properties to provide accommodation to students and unemployed graduates. The Unemployment Insurance Fund, managed by South Africa’s Public Investment Corporation, acquired the company in June. Metier had originally invested in the company through the Lereko Metier… Read More
Tata Capital Growth Fund Leads a Series B Financing Round for Nearex (Asia)
Tata Capital Private Equity, the private equity arm of Indian conglomerate Tata Group, has led a Series B financing round for Singapore-based mobile payments start-up Nearex. The transaction was structured through Tata Capital Growth Fund. Nearex specializes in mobile payments and mobile points of sale systems for emerging markets, and has been pilot testing in Tanzania and Zimbabwe. Financial details… Read More
The Abraaj Group Acquires a Majority Stake in Mouka from Actis (Sub-Saharan Africa)
Global growth markets investor The Abraaj Group has acquired a majority stake in Nigeria-based mattress manufacturer Mouka from pan-emerging markets private equity firm Actis and the company’s founding Moukarim family, which will retain a minority stake. Actis originally invested in the company in 2007. Abraaj and the Moukarim family will focus on expanding Mouka’s product line into adjacent categories within… Read More
CITIC Capital, Tencent and Wanda Join an RMB6 Billion Financing Round for Tongcheng (Asia)
A consortium that includes China-focused private equity firm CITIC Capital, Chinese investment holding company Tencent’s Tencent Collaboration Fund and China-based Dalian Group’s media and arts subsidiary Wanda Culture Industry Group has participated in an RMB6 billion (approximately US$967 million) financing round for China-based Tongcheng Network Technology. Tongcheng, also known as LY.com, is an online travel service provider in China. The financing round reportedly… Read More
KKR Sells a Ten Percent Stake in Vietnam-based Masan Consumer (Asia)
Global investment firm KKR has sold a ten percent stake in Vietnam-based consumer goods company Masan Consumer to undisclosed buyers. KKR, which first invested in Masan Consumer in 2011, continues to hold a ten percent stake in the company post-transaction. Financial details of the transaction were not disclosed. Read More
IDG Capital Partners, DCM and Northern Light Venture Capital Back Facishare Technology (Asia)
Venture capital firms IDG Capital Partners, DCM and Northern Light Venture Capital have participated in a US$100 million Series D funding round for China-based Facishare Technology, operator of the mobile business management application Fxiaoke.com. The company intends to use the new capital to accelerate technology upgrades. Read More
TA Associates and India Value Fund Advisors to Invest US$500 Million in Atria Convergence Technologi
Global growth private equity firm TA Associates and India Value Fund Advisors (IVFA), a firm focused on investing in mid-sized businesses, have agreed to invest US$500 million in India-based broadband provider Atria Convergence Technologies (ACT). IVFA’s investment will be structured through Indium V, and will represent a partial exit for IVFA-managed India Value Fund III, the current majority shareholder of… Read More
Kibo Capital Partners Exits Uganda-based International Medical Group (Sub-Saharan Africa)
Kibo Capital Partners, a fund manager focused on Eastern and Southern Africa and the islands of the Indian Ocean, has sold its 40 percent stake in Uganda-based healthcare company International Medical Group (IMG). Kibo sold its stake to Ciel Group, a Mauritius-based conglomerate, and Fortis, an India-based healthcare company. Kibo initially invested in IMG in 2012 through its first fund,… Read More
Cloudcherry Analytics Raises US$1 Million in Seed Funding from IDG Ventures India and Chennai Angels
Venture capital firm IDG Ventures India and India-focused angel network Chennai Angels have invested US$1 million in Cloudcherry Analytics, an India-based software-as-a-service company. Cloudcherry Analytics will use the fresh capital to scale its enterprise business and invest in the analytics, features and support it provides its clients. Read More