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Ribbit Capital Leads a Series C Round for ContaAzul (Latin America)
ContaAzul, a Brazil-based provider of accounting and invoicing software to small- and medium-sized enterprises, has received a Series C funding round from venture capital firm Ribbit Capital, with participation from global investment firm Tiger Global Management and venture capital firms 500 Startups, Monashees Capital and Valar Ventures. The company intends to use the capital to develop a new platform catered… Read More
H Capital Leads a US$100 Million Series D Round for 17zuoye (Asia)
17zuoye, a China-based education start-up, has raised US$100 million in a Series D financing round led by venture capital firm H Capital, with participation from Singaporean sovereign wealth fund Temasek, Russian venture capitalist Yuri Milner and venture capital firm Shunwei Capital Partners. The company operates an online education platform for students, teachers and parents. It intends to use the funding… Read More
Shunwei Capital Partners Closes Its First RMB-denominated Fund (Asia)
China-focused venture capital firm Shunwei Capital Partners has closed its first RMB-denominated fund with RMB1 billion (approximately US$160 million) in capital commitments. The fund will invest in the areas of intelligent hardware, mobile internet, online finance, online education and travel sites. Shunwei previously raised two USD-denominated funds, with the most recent one holding a final close in June 2014. Read More
TPG Sells a 17.5 Percent Stake in Bank Tabungan Pensiunan Nasional to Sumitomo (Asia)
Global private investment firm TPG Capital has exited a 17.5 percent stake in Indonesia-based lender Bank Tabungan Pensiunan Nasional (BTPN) through a strategic sale to Japan-based conglomerate Sumitomo for IDR5.9 trillion (approximately US$457 million). Post-transaction, TPG will hold an 8.38 percent stake in BTPN, while Sumitomo will hold a 20 percent stake in the bank. TPG initially acquired a 71.6… Read More
VTB Capital and I2BF Global Ventures Participate in a US$3 Million Round for RoboCV (CEE and CIS)
RoboCV, a Russia-based developer of vehicle autopilot systems used in commercial vehicles, has received a US$3 million investment from asset manager VTB Capital, venture capital firms I2BF Global Ventures and Almaz Capital, corporate venture fund LETA Capital and global investment company Columbus Nova. The company will use the new funds in the development of existing autopilot systems to automate warehouse… Read More
Vogo Investment Group to Exit Tong Yang Life Insurance to Anbang Insurance Group (Asia)
Vogo Investment Group, a South Korea-focused buyout firm, is selling a 57.5 percent stake in South Korea-based insurer Tong Yang Life Insurance to China-based insurance conglomerate Anbang Insurance Group. This is part of a larger transaction in which Anbang is acquiring a 63 percent stake in Tong Yang in a deal worth KRW1.13 trillion (approximately US$1 billion). Vogo’s exit will… Read More
Warburg Pincus to Partner with Nirvana Development to Build Retail Platforms in Indonesia (Asia)
Global private equity firm Warburg Pincus will invest US$125 million—with the option to invest up to an additional US$75 million—in a joint venture with Indonesia-based real estate developer and operator Nirvana Development. The transaction will be structured through Warburg Pincus Private Equity XI. The joint venture will develop and open hypermarkets in malls across Indonesia. The transaction, which is subject… Read More
Alkhabeer Capital Acquires a Majority Stake in Eed Group (MENA)
Asset management and investment firm Alkhabeer Capital has acquired a majority stake in Saudi Arabia-based integrated healthcare provider Eed Group. The transaction was structured through Alkhabeer Healthcare Private Equity Fund I. The Eed Group recently expanded to add a pharmacy business, medical equipment supply and third-party management and operations. Financial details of the transaction were not disclosed. Read More
Equis Funds Group Invests INR7.2 Billion in Property Developer Assetz (Asia)
Energy and infrastructure investor Equis Funds Group has invested INR7.2 billion (approximately US$116 million) in India-based property developer Assetz. The company will use the funding to build mid-income housing townships across India over the next five years. Read More
New Release! Private Equity Investing in Emerging Markets
In Private Equity Investing in Emerging Markets: Opportunities for Value Creation, Roger Leeds, Professor at the School of Advanced International Studies (SAIS) of the Johns Hopkins University and Founding Chairman of EMPEA, illustrates how private equity is a tool uniquely suited to strengthening the value and performance of businesses in emerging market countries. The book outlines how private equity can… Read More
BaltCap Acquires a 25 Percent Stake in Ecoservice for EUR3.5 Million (CEE and CIS)
BaltCap, a private equity and venture capital firm focused on the Baltic countries, has acquired a 25 percent stake in Lithuania-based waste management company Ecoservice for EUR3.5 million (approximately US$4 million). The transaction was structured through BaltCap Private Equity Fund II. BaltCap, which now controls 100 percent of Ecoservice, intends to speed up implementation of Ecoservice’s expansion strategy in the… Read More
ARM-Harith Infrastructure Investment Fund Reaches a US$91 Million First Close (Sub-Saharan Africa)
ARM-Harith Infrastructure Investment Fund, a joint venture between Nigeria-based asset manager Asset & Resource Management Company (ARM) and pan-African infrastructure fund manager Harith General Partners, has held a first close with US$91 million in capital commitments. The fund, which will focus on the transportation, energy and utilities sectors in West Africa, has a target of US$250 million. Investors in the… Read More