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Silver Lake Leads a US$500 Million Investment Round in Qunar (Asia)
Global technology-focused investor Silver Lake has led a US$500 million round of funding in China-based mobile and online travel platform Qunar in the form of two percent senior unsecured convertible notes with an initial conversion price of US$55 per share. Silver Lake invested US$330 million, while another undisclosed investor contributed US$170 million. Qunar will use the funding to expand its… Read More
ChrysCapital Sells Its Stake in Mankind Pharma to Capital Group Private Markets (Asia)
ChrysCapital, an investment firm that focuses on growth sectors in India, has sold its 11 percent stake in India-based prescription drug producer Mankind Pharma to Capital Group Private Markets, a global private equity investor, for INR13 billion (approximately US$203 million). The exit reportedly returned a 10x cash multiple to ChrysCapital. Read More
Cathay Capital Private Equity Acquires a 25 Percent Stake in Cabio Bioengineering (Asia)
Global private equity firm Cathay Capital Private Equity has acquired a 25 percent stake in Cabio Bioengineering, a China-based biologically fermented foods producer. The transaction was structured through the Sino French (Midcap) Fund. The new investment will help the company to diversify its product portfolio and increase its market coverage. Financial details of the transaction were not disclosed. Read More
Ontario Teachers’ Pension Plan, Banco Santander Launch Cubico Sustainable Investments (Global)
Canadian pension funds Ontario Teachers’ Pension Plan (Teachers) and Public Sector Pension Investment Board (PSP Investments) and retail and commercial bank Banco Santander have formed Cubico Sustainable Investments, a United Kingdom-based firm established to manage and invest in renewable energy and water infrastructure assets globally. The firm, owned equally by Teachers, PSP Investments and Santander, launched with a portfolio valued… Read More
Omidyar Network and EchoVC Partners Invest US$1.2 Million in Hotels.ng (Sub-Saharan Africa)
Nigeria-based hotel booking website Hotels.ng has secured a US$1.2 million investment from philanthropic investment firm Omidyar Network and EchoVC Partners, a seed and early stage venture capital firm focused on North America, Africa and Southeast Asia. EchoVC’s investment was structured through its EchoVC Pan-Africa Fund. The fresh investment will be used to expand Hotels.ng’s platform of Nigerian hotels in the… Read More
Warburg Pincus to Sell a 7.1 Percent Stake in CAR (Asia)
Global private equity firm Warburg Pincus has agreed to sell a 7.1 percent stake in China-based car rental company CAR for HKD3.1 billion (approximately US$401 million) to independent third parties. The share sale on the Hong Kong Stock Exchange will total 168 million shares, priced at HKD18.5 (approximately US$2.39) apiece. Following the sale, Warburg’s holding in CAR will be reduced… Read More
MCI Management to Acquire Lithuania-based Pigu Group (CEE and CIS)
Central and Eastern Europe-focused private equity group MCI Management has agreed to acquire a controlling stake in Pigu Group, a Lithuania-based operator of online marketplaces in the Baltic states. The transaction will be structured through MCI.TechVenures 1.0, and is subject to clearances from competition authorities. Financial details of the transaction were not disclosed. Read More
Tata Capital to Acquire a Minority Stake in TVS Logistics Services (Asia)
Tata Capital, the private equity arm of Indian conglomerate Tata Group, has agreed to acquire a minority stake in India-based third-party logistics provider TVS Logistics Services. The transaction is reportedly valued at up to INR2.5 billion (approximately US$39 million), and will be structured through Tata Opportunities Fund. The investment will fund TVS’s acquisition of Drive India Enterprise Solutions, an India-based… Read More
SparkLabs Global Ventures Invests in Dating LATAM (Latin America)
SparkLabs Global Ventures, a global seed stage fund, has invested in Dating LATAM, a Peru-based online dating start-up that operates the website MiMediaManzana.com. Financial details of the transaction were not disclosed. Read More
Batuta Raises a US$2.5 Million Series A Round from Siraj Fund Management Company (MENA)
Palestine-based online travel site Batuta has raised a US$2.5 million Series A round of funding from Palestine-focused private equity fund manager Siraj Fund Management Company. The transaction was structured through Siraj Palestine Fund I. The company will use the new funds to grow its core business and develop a new booking platform. Read More
IFC and Swicorp Back Luminus Education with an US$18 Million Investment (MENA)
Development finance institution International Finance Corporation (IFC) and MENA-focused investment banking and asset management firm Swicorp have invested US$18 million in Jordan-based vocational and technical education provider Luminus Education. Luminus will use the new funds to diversify its offerings and expand locally and regionally. Swicorp first invested in Luminus in July 2014 in an investment structured through its Intaj II… Read More
Zodius Capital II Reaches a First Close with INR7 Billion in Commitments (Asia)
Technology-focused private equity firm Zodius Capital Advisors, in partnership with India-focused alternative asset manager Avendus Capital, has reached a first close for its second fund, Zodius Capital II, with INR7 billion (approximately US$110 million) in capital commitments. Zodius Capital II plans to back eight to ten enterprise software and consumer technology companies in India by the end of this year. Read More