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Warburg Pincus and Legend Capital to Participate in a Funding Round for UCAR Group (Asia)
Warburg Pincus, a global private equity firm, and Legend Capital, an independent venture capital unit of China-based conglomerate Legend Holdings, are participating in a US$250 million funding round for China-based mobile taxi booking service provider UCAR Group. China-based CAR, an auto rental company and existing shareholder of UCAR, will invest US$125 million for a ten percent stake, while Warburg, Legend… Read More
Redpoint, Pinnacle Ventures and Redpoint e.ventures Invest US$30 Million (Latin America)
PSafe Tecnologia, a Brazil-based cloud computing security software company, has received US$30 million in a financing round from venture capital firms Redpoint, Pinnacle Ventures and Redpoint e.ventures, as well as China-based internet security company Qihoo 360. PSafe will use the funds to accelerate its growth and expand within Latin America. Read More
PENM Partners Reaches a US$120 Million First Close on Private Equity New Markets IV (Asia)
Vietnam-focused private equity firm PENM Partners has reached a first close on its fourth private equity fund in Vietnam, Private Equity New Markets IV, with US$120 million in capital commitments. The fund, which has a target of US$180 million, intends to invest in medium and large businesses in a wide range of industries, including downstream food and beverage, fast moving… Read More
Omidyar Network, Helion Venture Partners and Existing Investors Back RailYatri.in (Asia)
India-based RailYatri.in, operator of a mobile app for railway travelers in India, has raised a pre-Series A financing round led by philanthropic investment firm Omidyar Network and India-focused venture capital firm Helion Venture Partners. Existing investors Blume Ventures, an India-focused early-stage venture capital firm, and Ujama Ventures, an angel investment firm, also participated in the round. RailYatri.in intends to use… Read More
Apollo Global Management and EBRD to Acquire Slovenia-based Bank Nova KBM (CEE and CIS)
Global alternative investment manager Apollo Global Management and development finance institution European Bank for Reconstruction and Development (EBRD) have signed an agreement to acquire 100 percent of Slovenia-based bank Nova KBM (NKBM) from the Republic of Slovenia. Apollo will purchase an 80 percent stake in the company, while EBRD will purchase the remaining 20 percent. The transaction values NKBM at… Read More
Warburg Pincus Leads a US$100 Million Round in Vietnam-based Vincom Retail (Asia)
Global private equity firm Warburg Pincus has led a US$100 million follow-on investment round for Vietnam-based shopping mall operator Vincom Retail. Other investors in the consortium were not disclosed. The follow-on investment brings the Warburg-led consortium’s total investment in the company to US$300 million, after its first investment of US$200 million in May 2013. Vincom Retail will use the latest… Read More
The Carlyle Group Agrees to Invest in Shanghai ANE Logistics and JIC Leasing (Asia)
Global alternative asset manager The Carlyle Group has agreed to invest in two China-based companies: road transportation and delivery services provider Shanghai ANE Logistics and financial leasing company JIC Leasing. Carlyle will invest US$120 million for an undisclosed stake in ANE and US$115 million for an 18.5 percent stake in JIC. Both transactions will be structured through Carlyle Asia Growth… Read More
BECO Capital Leads a Series A Round for Bayzat (MENA)
BECO Capital, a venture capital firm focused on technology investments in the Gulf Cooperation Council countries, has led a AED3.7 million (approximately US$1 million) Series A investment round in Bayzat, a United Arab Emirates-based medical insurance technology startup. The round also included a series of undisclosed private investors. Bayzat will use the funds to accelerate its growth and expand its… Read More
CreditMantri Finserv Raises from IDG Ventures India, Elevar Equity and Accion Venture (Asia)
India-based online financial services company CreditMantri Finserv has raised US$2.5 million in a Series A funding round from venture capital firms IDG Ventures India and Elevar Equity and Accion Venture Lab, an investment initiative that provides seed capital for financial inclusion start-ups. CreditMantri will use the new funds to develop its technology and expand its user base. Read More
One Thousand & One Voices to Buy a Minority Stake in Beefmaster (Sub-Saharan Africa)
Private investment fund manager One Thousand & One Voices has proposed to invest in South Africa-based red meat producer Beefmaster for a minority stake in the company. The transaction will support Beefmaster’s domestic and international product growth. Financial details of the transaction, which has been approved by the Competition Commission of South Africa, were not disclosed. Read More
AAG Energy, Red Star Macalline and Vital Mobile Complete IPOs on the Hong Kong Stock Exchange (Asia)
Three private equity-backed, China-based companies—AAG Energy Holdings, Red Star Macalline Group and Vital Mobile Holdings—have completed initial public offerings (IPOs) on the Hong Kong Stock Exchange. Coalbed methane producer AAG backed by private equity firms Warburg Pincus, Baring Private Equity Asia and Chengwei Ventures, and CDB-CITIC Capital Investment, a joint venture of China Development Bank and CITIC Capital, raised HKD2.3… Read More
Standard Chartered Private Equity Invests in Maxpower and Crystal Jade Group (Asia)
Standard Chartered Private Equity (SCPE), the private equity arm of Standard Chartered Bank, has provided US$60 million in equity financing to Indonesia-based power plant developer Maxpower and served as joint lead arranger on a US$222 million debt refinancing for the company. Maxpower will use the funds to support its ongoing construction program. Separately, SCPE has invested US$52 million in Crystal… Read More