GPCA covers the latest fund, investment and industry news across our markets in two newsletters: NewsWatch is a weekly round-up of key transactions across asset classes; the Global Tech Brief is a bi-weekly review of tech transactions and innovations with cross-border applications. Subscribe in the left-hand sidebar.
Access past editions of NewsWatch here.
Cordiant Capital Closes a US$15 Million Loan to SA Taxi Development Finance (Sub-Saharan Africa)
Cordiant Capital, a fund manager specializing in emerging markets investments, has closed a US$15 million loan to SA Taxi Development Finance, a South Africa-based mini-bus taxi finance provider. The loan was structured through Cordiant Emerging Loan Fund IV and is part of a six-year, US$36 million multi-currency loan facility with SA Taxi arranged by Dutch development bank FMO. Read More
500 Startups and DeNA Invest in Zeemi.tv and Blisby (Asia)
Venture capital firm 500 Startups and the venture arm of Japan-based e-commerce firm DeNA have participated in a seed investment round for two companies: Zeemi.tv, an Indonesia-based live-streaming entertainment company, and Blisby, a Thailand-based online marketplace for handicrafts. Zeemi.tv raised more than US$1 million and will use the fresh investment for marketing and technology improvements and for the development of… Read More
DST Global Leads an INR19.5 Billion Round for Ola (Asia)
ANI Technologies, operator of India-based taxi-booking platform Ola, has raised INR19.5 billion (approximately US$313 million) in a round of funding led by global venture capital firm DST Global, which contributed INR11.5 billion (approximately US$185 million). Other participants in the round included global investment firm Tiger Global, hedge fund Steadview Capital and global venture capital firm Accel Partners. Read More
Fanisi Capital Invests US$2.1 Million in European Foods Africa (Sub-Saharan Africa)
East Africa-focused private equity and venture capital investor Fanisi Capital has invested US$2.1 million in European Foods Africa, a Kenya-based food distribution and processing firm that sells pizzas, berries and fresh juice. The company intends to use the new investment to expand its business within Kenya. Read More
The Abraaj Group and TPG Invest in Kudu (MENA)
Kudu, a Saudi Arabia-based restaurant group, has raised sharia-compliant debt funding from global growth markets investor The Abraaj Group and global private investment firm TPG. The investment was structured through a vehicle jointly owned by Abraaj and TPG. Financial details of the transaction were not disclosed. Read More
IDG Capital Partners and SIG Asia Investment Participate in a Funding Round for 9fbank.com (Asia)
9fbank.com, a China-based online finance platform, has raised $110 million in a round of funding. Investors in the round included China-focused venture capital firm IDG Capital Partners; SIG Asia Investment, the venture capital and private equity arm of the Susquehanna International Group; China-based financial services holding company Ping An Insurance; Tsinghua University's joint ventures Incorp Capital and Union Fortune; fund… Read More
Denham Capital Sells Its Stake in Global Solar Development Company (Global)
Global energy-focused private equity firm Denham Capital has sold its stake in Fotowatio Renewable Ventures (FRV), a global solar development company with a portfolio spanning Australia, the Middle East, Africa and Latin America, to Abdul Latif Jameel Energy and Environmental Services, the energy and environmental services arm of Saudi Arabia- and Dubai-based conglomerate Abdul Latif Jameel. Qualitas Equity Partners, a… Read More
CDH-backed WoWo Completes a US$40 Million IPO (Asia)
WoWo, a China-based entertainment-focused e-commerce platform backed by China-focused private equity and venture capital firm CDH Investments and private investment firm Tianyou Investment, has raised US$40 million in an initial public offering (IPO). The company listed on the NASDAQ Stock Market on 8 April, selling four million shares at US$10 apiece. Neither CDH nor Tianyou disposed of any shares in… Read More
Vantage Capital and FMO Exit Plastic Polymer Manufacturer Safripol (Sub-Saharan Africa)
Pan-African mezzanine fund manager Vantage Capital and Dutch development bank FMO have exited their ZAR220 million (approximately US$31 million) investment in Safripol, a South Africa-based plastic polymer manufacturer. In 2007, Vantage Capital and FMO funded Thebe Investment Corporation, a South Africa-based black economic empowerment investment company, to acquire a stake in Safripol. Post-transaction, Thebe retains its stake in the company. Read More
Templeton Asset Management-led Consortium Acquires a Minority Stake (CEE and CIS)
A consortium led by Templeton Asset Management, a financial services subsidiary of Franklin Templeton Investments, has acquired a minority stake in Turkey-based apparel retailer Defacto Perakende Ticaret. The investment was structured through Templeton Strategic Emerging Markets Fund IV, which is managed by Templeton Emerging Markets Group of Templeton Asset Management. Defacto intends to use the investment to grow within Turkey… Read More
Aqua Capital Acquires a Majority Stake in Grand Cru (Latin America)
Aqua Capital, a private equity fund manager focused on mid-sized agribusiness, food and logistics companies in South America, has acquired a majority stake in Grand Cru, a Brazil-based wine retailer. Grand Cru intends to use the new funding to increase its number of stores within Brazil and expand its e-commerce operations. Financial details of the transaction were not disclosed. Read More
Actis Partially Exits Edita Food Industries in an IPO (MENA)
Pan-emerging markets private equity firm Actis has sold a 15 percent stake in Edita Food Industries, an Egypt-based snack food company, through an oversubscribed initial public offering (IPO) on the Egyptian Exchange and the London Stock Exchange. Actis sold 54.4 million shares in the offering at a price of EGP18.5 (approximately US$2.43) per share, for total proceeds of EGP1.0 billion… Read More