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TA Associates Backs RateGain (Asia)
Global growth private equity firm TA Associates has invested a reported US$50 million in India-based software company RateGain. RateGain provides revenue management and distribution channel management software and real-time pricing data and analytics to help businesses streamline operations and sales, primarily serving the hotel industry. With the new capital, the company intends to explore new business opportunities among current and… Read More
Tiger Global Participates in a US$600 Million Series D Round for Kuaidi Dache (Asia)
Japan-based telecommunications company SoftBank Group has led a US$600 million Series D financing round for China-based Travice, the operator and developer of mobile taxi booking app Kuaidi Dache, with participation from existing shareholders investment firm Tiger Global and e-commerce company Alibaba Group. The company intends to use the capital to expand and improve its services in China. Read More
Yunfeng Capital Agrees to Invest RMB500 Million in Baiyunshan (Asia)
Private equity firm Yunfeng Capital has agreed to participate in an RMB10 billion (US$1.6 billion) financing round for China-based pharmaceutical manufacturer Guangzhou Baiyunshan Pharmaceutical Holdings. Baiyunshan’s controlling shareholder, state-owned Guangzhou Pharmaceutical Holdings Limited (GPHL), agreed to contribute RMB3.5 billion (approximately US$571 million), while Yunfeng will invest RMB500 million (approximately US$82 million). Other investors include China Life Insurance, state-owned Asset Development… Read More
Elbrus Capital Invests in Online Real Estate Classifieds Platform Cian (CEE and CIS)
Elbrus Capital, a private equity firm focused on Russia and CIS, has invested in Russia-based Cian Group, the operator of a real estate classified ads website. The deal included an acquisition of existing shares and a subscription of new shares. Cian Group plans to use the proceeds to finance regional expansion and to advance its product development. Financial details of… Read More
ChrysCapital Sells a 3.7 Percent Stake in ING Vysya Bank for US$108 Million (Asia)
ChrysCapital, an investment firm that focuses on growth sectors in India, has partially exited its stake in India-listed private sector bank ING Vysya Bank. The firm sold a 3.7 percent stake in ING Vysya Bank for INR6.7 billion (approximately US$108 million) through open market transactions. ChrysCapital originally invested in the bank in 2004. Read More
Helios Investment Partners Poised to Close Helios Investors III (Sub-Saharan Africa)
Pan-African private investment firm Helios Investment Partners has exceeded the US$1 billion target set for its third Africa-focused fund, Helios Investors III, and will be closing the fund shortly with US$1.1 billion in capital commitments, reaching the fund’s hard cap. Investors in the fund include sovereign wealth funds, corporate and public pension funds, endowments and foundations, funds of funds, family… Read More
Gávea Investimentos Sells Its Stake in Simpress to Samsung (Latin America)
Brazilian antitrust agency CADE has approved multinational electronics conglomerate Samsung’s proposed acquisition of Brazil-based digital printing services company Simpress, facilitating an exit for private equity firm Gávea Investimentos. Samsung had agreed to acquire Gávea’s entire 43 percent stake in the company. Gávea originally invested in Simpress through its second fund, GIF II. Financial details of the transaction were not disclosed. Read More
Sahel Capital Buys a 25 Percent Stake in L&Z Integrated Farms (Sub-Saharan Africa)
West Africa-focused fund manager Sahel Capital has acquired a 25 percent stake in Nigeria-based dairy producer and processor L&Z Integrated Farms. The transaction was structured through Sahel Capital’s Fund for Agricultural Finance in Nigeria (FAFIN). L&Z has an integrated facility that produces yogurt, fresh milk and ice cream from its dairy operations, and eggs and poultry meat from its poultry… Read More
Sequoia Capital Exits TD Power Systems for INR795 Million (Asia)
Venture capital firm Sequoia Capital has exited its investment in India-based power equipment manufacturer TD Power Systems through an open market share sale on 8 January. Sequoia sold its entire stake in the company for INR795 million (approximately US$6.4 million). Sequoia had originally acquired around a 4.5 percent stake in TD Power through two tranches in 2011, later acquiring more… Read More
Spruce Capital Partners and Xeraya Capital Hold a First Close on MLS Capital II (Asia)
Private investment firms Spruce Capital Partners and Xeraya Capital announced the first close of MLS Capital Fund II with US$150 million in capital commitments. Investors in the fund included both institutional and global corporate investors. MLS Capital Fund II is co-managed by Spruce Capital Partners and Xeraya Capital, and will target companies at all stages of development in sectors such… Read More
Actis Invests in Egypt-based Integrated Diagnostics Holdings and Brazil-based Genesis Group (MENA)
Pan-emerging markets private equity firm Actis has acquired a 21 percent stake in Egypt-based Integrated Diagnostics Holdings, a private sector healthcare diagnostics service provider. Global growth markets investor The Abraaj Group partially exited through the transaction. The company intends to accelerate its growth and offer new and complementary services to its customers. Separately, Actis has acquired a stake in Brazil-based… Read More
Aqua Capital Acquires and Merges Comfrio Soluções Logísticas & Stock Tech Logística (Latin America)
Aqua Capital, a private equity fund focused on mid-sized agribusiness, food and logistics companies in Brazil and the southernmost areas of South America, has completed the merger of two Brazil-based cold storage logistics companies: Comfrio Soluções Logísticas and Stock Tech Logística. After owning a co-controlling stake in Comfrio for three years, Aqua acquired the remaining equity as well as 100… Read More