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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
Al Masah Capital Acquires United Arab Emirates-based Al Faris Restaurant (MENA)
MENA- and Southeast Asia-focused alternative investment management firm Al Masah Capital has acquired United Arab Emirates-based Al Faris Restaurant, the owner and operator of a Johnny Rockets franchisee in the United Arab Emirates and Oman. The transaction was structured through Diamond Lifestyle, a food and beverage-focused private equity platform managed by Al Masah Capital. Financial details of the transaction were… Read More
Clearwater Capital Partners Exits GSS Infotech via Share Sale (Asia)
Clearwater Capital Partners, an investment firm focused on credit and special situations in Asia, has fully exited its stake in India-based information technology solutions and outsourcing company GSS Infotech. Clearwater sold its 18.2 percent stake in the company for INR46.6 million (approximately US$732,000) via open market transactions on the Bombay Stock Exchange and National Stock Exchange. The transactions were structured… Read More
The Carlyle Group Commits up to US$500 Million to Magna Energy (Asia)
Global alternative asset manager The Carlyle Group has committed an equity line of up to US$500 million to India-focused upstream oil and gas company Magna Energy. The equity will reportedly be delivered from an initial equity line of US$250 million, with an option to draw down an additional US$250 million at a later stage. The transaction will be structured though… Read More
KKR to Invest in Tarena International (Asia)
Global investment firm KKR has agreed to acquire a 13 percent stake in Tarena International, a China-based professional education company listed on the NASDAQ Stock Market. KKR will purchase 6.8 million shares in the company from existing shareholders–investment bank Goldman Sachs and venture capital firm IDG Technology Venture Investments–for US$70 million. The transaction, which will be structured through KKR’s China… Read More
The Rohatyn Group Exits Turkey-based Luxury Retailers Beymen and Boyner (CEE and CIS)
Emerging markets asset management firm The Rohatyn Group (TRG) has fully exited Turkey-based luxury retailers Beymen Mağazacılık and Boyner Büyük Mağazacılık to Boyner Perakende ve Tekstil Yatırımları, a company controlled by Turkey-based retail conglomerate the Boyner Group. Beymen and Boyner had been portfolio companies of Citi Venture Capital International, which TRG acquired from Citigroup in 2013. Financial details of the… Read More
Aavishkaar Frontier Fund Reaches a First Close with US$45 Million in Capital Commitments (Asia)
South- and Southeast Asia-focused impact fund advisory firm Aavishkaar has reached a first close for Aavishkaar Frontier Fund with US$45 million in capital commitments. The fund has a target of US$75 million and seeks to invest in socially beneficial and commercially viable companies in Indonesia, Bangladesh, Sri Lanka and Pakistan. The fund is anchored by German development bank KfW and… Read More
Incofin Investment Management Reaches a US$71 Million First Close for agRIF Fund (Pan-Emerging Marke
Incofin Investment Management, an impact investment fund manager focused on rural and agricultural finance, has reached a first close for its agRIF Fund with US$71 million in capital commitments. The fund will invest in financial intermediaries across emerging markets. Investors in the first close included European Union lender European Investment Bank, development finance institutions Proparco, BIO and SIFEM, investment company… Read More