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IDFC Alternatives Exits Ashoka Buildcon (Asia)
IDFC Alternatives, the alternative asset management vertical at infrastructure financing company IDFC, has exited India-based Ashoka Buildcon, which constructs and operates roads and bridges on a build, operate and transfer basis. The firm started selling shares in Ashoka Buildcon in 2013 and recently completed its exit with a reported 2x return on its initial INR1 billion (approximately US$22 million) investment… Read More
Vantage Capital Provides ZAR77 Million in Funding to AfriSam (Sub-Saharan Africa)
Africa-focused mezzanine investor Vantage Capital has provided ZAR77 million (approximately US$7 million) for the acquisition of preferred equity facilities in a Pembani Group-owned special purpose vehicle that holds a 30 percent stake of the ordinary equity and payment-in-kind notes in South Africa-based AfriSam, a building and construction materials company. The transaction was structured through Vantage Mezzanine Fund II. Pembani Group… Read More
Vaatsalya Raises Funding from Existing Investors Aavishkaar and Bamboo Finance (Asia)
India-based hospital chain operator Vaatsalya Healthcare Solutions has raised a financing round from early-stage investor Aavishkaar and global microfinance private equity investor Bamboo Finance, both existing investors in the company. Aavishkaar’s investment was structured through Aavishkaar India II. Vaatsalya intends to use the funding to upgrade its existing hospitals, expand its current services, build its management team and widen its… Read More
Advent International and EBRD Agree to Acquire the Balkans-focused Banking Unit of Hypo Alpe-Adria-Bank International (CEE and CIS)
Global private equity firm Advent International and development finance institution European Bank for Reconstruction and Development (EBRD) have agreed to acquire Hypo SEE Holding, the Balkan-focused banking unit of Austria-based bank Hypo Alpe-Adria-Bank International. Advent will pay a reported EUR100 million (approximately US$127 million) for the unit, which owns banks in Slovenia, Croatia, Serbia, Bosnia-Herzegovina and Montenegro. After the acquisition, the… Read More
Dymon Asia Private Equity Acquires a Stake in Atlas Vending (Asia)
Investment management company Dymon Asia Private Equity (DAPE) has acquired a majority stake in Singapore-based vending machine owner and operator Atlas Vending from Atlas’s founding Tan family. Atlas Vending manages more than 5,000 machines in Singapore and Malaysia. DAPE intends to increase the number of Atlas’s vending machines and deploy new technologies. Financial details of the transaction were not disclosed. Read More
Warburg Pincus Invests INR5.5 Billion in Laurus Labs (Asia)
Global private equity firm Warburg Pincus has acquired a 32 percent stake in India-based Laurus Labs, a developer and manufacturer of active pharmaceutical ingredients, for INR5.5 Billion (approximately US$90 million). The company had previously raised a financing round from Fidelity Growth Partners India (FGPI), the private equity arm of Fidelity International, and Fidelity Biosciences, a United States-based division of Fidelity… Read More
NYLIM Jacob Ballas India Invests INR500 Million in Adlabs Entertainment (Asia)
NYLIM Jacob Ballas India, a vehicle co-owned by New York Life Insurance Company and private equity advisory firm Jacob Ballas Capital India, has invested INR500 million (approximately US$8 million) in a pre-IPO financing round for India-based theme park operator Adlabs Entertainment. The company, which owns the Adlabs Imagica theme park, received approval for its IPO from the Securities and Exchange… Read More
KPCB China Leads a US$30 Million Series B Round for Mobile Marketing Company Lomark (Asia)
Venture Capital firm Kleiner Perkins Caufield & Byers China (KPCB China) has led a US$30 million Series B financing round for China-based mobile advertising company Lomark. Venture capital firms DFJ DragonFund, ABC Capital and Shenzhen Fortune Venture Capital also participated in the round. Lomark had previously raised a Series A round from DFJ. The company intends to use the new… Read More
CDH Venture and Shenzhen Green Pine Capital Partners Invest in Upyun.com (Asia)
CDH Venture, a venture capital team under the umbrella of alternative asset fund manager CDH Investments, and China-based venture capital firm Shenzhen Green Pine Capital Partners have invested in a Series A financing round for China-based cloud services company Upyun.com. Upyun, which started as a project to provide cloud computing services to China-based photo-sharing site Yupoo in 2005, has also… Read More
Badia Impact Fund Leads a Series A Financing Round for Wysada (MENA)
Early stage technology investor Silicon Badia has led a Series A financing round of more than US$5 million for Jordan-based online retailer Wysada. The transaction was structured through Silicon Badia’s Badia Impact Fund. The round also included participation from new and existing investors from the Gulf Cooperation Council countries. Wysada intends to use the funding to expand its operations in… Read More
EIG Global Energy Partners Invests US$125 Million in Greenko Group (Asia)
Global energy investor EIG Global Energy Partners has invested US$125 million in India-based renewable energy developer Greenko Group. EIG has invested through a six-year instrument with a cash coupon of five percent per annum and a payment-in-kind (PIK) coupon of six percent due on maturity, with the option of converting the PIK coupon to Greenko shares. Greenko intends to use… Read More
Middle East Venture Partners Reaches a First Close on Its Latest Fund (MENA)
Middle East-focused venture capital firm Middle East Venture Partners (MEVP) has reached a first close on its IMPACT Fund with more than US$50 million in capital commitments. Investors in the first closing included the fund’s co-sponsors, BLOM Invest Bank and MedSecurities Investment, as well as other Lebanese banks. The fund is compliant with Banque Du Liban’s Intermediate Circular 331, a program… Read More