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Matrix Partners China & Morningside Technologies Participate in a Series C Round for Lamabang (Asia)
China-based parenting e-commerce website Lamabang has raised US$100 million in a Series C round of funding led by China-based online retailer Vipshop, with participation from venture capital firms Matrix Partners China and Morningside Technologies and asset management firm Greenwoods Asset Management. Lamabang raised US$20 million in Series B funding led by Greenwoods in July 2014, in a round that also… Read More
DLM Invista to Acquire a Minority Stake in Navita (Latin America)
Brazil-focused private equity firm DLM Invista has agreed to purchase a minority stake in Brazil-based enterprise mobility solutions provider Navita. Navita previously received funding from venture capital firms Invest Tech and Intel Capital in 2009 and 2014, respectively. Financial details of the transaction were not disclosed. Read More
Enko Capital Managers Acquires a Minority Stake in Madison Financial Services (Sub-Saharan Africa)
Enko Capital Managers, an Africa-focused asset management firm, has acquired a minority stake in Madison Financial Services, a Zambia-based insurance and financial services company. The transaction was structured through Enko Africa Private Equity Fund. Financial details of the transaction were not disclosed. Read More
Metier Capital Growth Fund II Reaches a First Close (Sub-Saharan Africa)
Metier, a private equity and alternative asset firm, has completed a first close for Metier Capital Growth Fund II with an undisclosed amount of committed capital. Investors included South African institutional investors, as well as development finance institutions FMO and DEG. The fund will target mid-cap growth investment opportunities in Sub-Saharan Africa in sectors including transport and logistics, retail, health and… Read More
JD Capital-backed Well Lead Medical Completes an IPO (Asia)
China-based medical device manufacturer Well Lead Medical, backed by China-focused investment firm JD Capital, has completed an initial public offering (IPO) on the Shanghai Stock Exchange, raising RMB385 million (approximately US$61 million) by issuing 25 million new shares at RMB15.4 (US$2.5) apiece. JD Capital, which invested an undisclosed amount in the company in 2011, saw its eight percent stake diluted… Read More
CIMB Group and Mitsubishi Reach a First Close for ASEAN Industrial Growth Fund (Asia)
Malaysia-based financial services group CIMB Group and Japan-based conglomerate Mitsubishi have held a first close for their joint fund ASEAN Industrial Growth Fund (AIGF) with US$130 million in capital commitments. Investors in the first close included Development Bank of Japan, Japan-based conglomerate Hitachi, steel manufacturer Yamato Kogyo and financial institutions The Toho Bank and Shinsei Bank. AIGF, which was launched… Read More
Tribeca Asset Management Exits Bogota CargoCity for US$56.5 Million (Latin America)
Latin America-focused private equity fund manager Tribeca Asset Management has fully exited Colombia-based Operador del Terminal de Carga Aeropuerto Internacional El Dorado, operator of Bogota CargoCity, the air cargo terminal at Bogota’s El Dorado International Airport. The investment returned US$56.5 million, resulting in a reported IRR of 22.9 percent and a cash multiple of 1.8x. Tribeca initially invested in the… Read More
The Abraaj Group, EBRD, DEG and Proparco Form the North Africa Hospital Holdings Group (MENA)
Global growth markets investor The Abraaj Group, along with development finance institutions European Bank for Reconstruction and Development (EBRD), DEG and Proparco, has formed the North Africa Hospital Holdings Group (NAHHG), an Egypt- and Tunisia-focused healthcare investment platform. Abraaj contributed US$145 million to the platform, EBRD contributed US$25 million and DEG and Proparco each contributed US$15 million. NAHHG currently encompasses… Read More
Elixir Capital Leads a Funding Round for FashionValet (Asia)
Global private equity firm Elixir Capital has led a round of financing for Malaysia-based online fashion retailer FashionValet. The transaction was structured through Elixir Capital’s ECM Straits Fund. The company intends to use the fresh investment to expand its mobile e-commerce presence, improve its big data strategies and costumer content and scale its operations into other cities in Asia. Financial… Read More
KV Asia Capital Invests in Aalst Chocolate (Asia)
Southeast Asia-focused private equity firm KV Asia Capital has invested in a round of financing for Singapore-based premium chocolate manufacturer Aalst Chocolate. The investment was structured through KV Asia Capital’s investment vehicle International Chocolate and Cocoa Holdings. Aalst Chocolate intends to use the fresh funding to expand into new markets. Financial details of the transaction were not disclosed. Read More
Cartica Capital Sells a 1.4 Percent Stake in TTK Prestige to Nalanda Capital (Asia)
Emerging markets-focused alternative asset manager Cartica Capital has sold a 1.4 percent stake in India-based kitchen appliance manufacturer TTK Prestige to India-focused public markets investment manager Nalanda Capital. The secondary sale totaled INR483 million (approximately US$7.8 million). Cartica’s remaining 1.5 percent stake is reportedly worth around INR530 million (approximately US$8.6 million), while Nalanda now holds a three percent stake in… Read More
Fondo de Fondos Raises MXN 3.3 Billion for Its Mexican CKD (Latin America)
Mexico-focused fund of funds manager Fondo de Fondos has raised MXN3.3 billion (approximately US$219 million) for a new vehicle, which will make both fund investments and co-investments in private equity, infrastructure and real estate. It is structured as a CKD (Certificado de Capital de Desarrollo), a vehicle listed on the Mexican Stock Exchange that allows Mexican pension funds to invest… Read More