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.
EMF Capital Partners’ EMF New Europe Insurance Fund Invests in Russia-based Virtu Systems (CEE and CIS)
EMF Capital Partners, a private equity firm focused on financial institutions in emerging markets, has invested in Russia-based insurance software company Virtu Systems. The transaction was structured through EMF New Europe Insurance Fund (NEIF), which will become Virtu’s largest shareholder. The investment will allow Virtu to expand its team and create a new product range, with the aim of eventually… Read More
Hummingbird Ventures Invests US$1.2 Million in Souqalmal.com (MENA)
Venture capital firm Hummingbird Ventures has invested US$1.2 million in a venture financing round for United Arab Emirates-based financial comparison site Souqalmal.com. The site provides an interface for users to view and compare a range of financial products, including credit cards, loans and cars. With the new financing, the company will focus on long-term growth, including building its team and… Read More
Darby Acquires a Majority Stake in Acrecent (Latin America)
Darby Overseas Investments, the private equity arm of Franklin Templeton Investments, has made an investment in Puerto Rico-based commercial finance company Acrecent Financial Corporation for a majority control position. The transaction was structured through Darby ProBanco Fund II. The investment will allow Acrecent to expand further in Central America, with a particular focus on offering financing alternatives to medium-sized businesses.… Read More
IDG Ventures and SAIF Partners Participate in Temasek-led Round for BrainBees Solutions (Asia)
Vertex Venture Holdings, the venture investment arm of Singapore’s sovereign wealth fund Temasek, and venture capital firms IDG Ventures and SAIF Partners have participated in a US$15 million Series C funding round for India-based BrainBees Solutions, which operates baby and kids online retailer Firstcry.com. Vertex Venture led the round, contributing US$7.5 million, while IDG Ventures and SAIF Partners invested US$3.75… Read More
CVC Capital to Buy a US$200 Million Stake in EIC Group (Asia)
Private equity and investment advisory firm CVC Capital Partners has agreed to invest over US$200 million in China-based education company EIC Group. CVC Capital will purchase shares from pan-emerging markets private equity firm Actis and from EIC Group’s founder. Actis originally acquired a minority stake in EIC Group in 2011. The company provides coaching services to students in China seeking… Read More
ECP Exits Société d’Articles Hygiéniques Following Tunisia IPO (MENA)
Emerging Capital Partners (ECP), a private equity firm focused on growth capital investing in Africa, has exited Société d'Articles Hygiéniques (SAH), a feminine and baby hygiene products manufacturer, following the company’s listing on the Tunis Stock Exchange. The offering, which closed on December 23, 2013 after two days of subscription, is reported to be the largest to date since the… Read More
Trustbridge Partners Leads a US$130 Million Series A Financing Round for Renrendai.com (Asia)
Venture capital and private equity firm Trustbridge Partners has led a US$130 million Series A financing round for China-based online peer-to-peer lending platform Renrendai.com. Trustbridge committed a reported US$65 million to the transaction. Renrendai.com intends to use the capital injection to improve internal operations, product services and the firm’s risk control capacities. Read More
Enterprise Investors and Intel Capital Sell Back Stake in SIVECO Romania (CEE and CIS)
Enterprise Investors, a Central and Eastern Europe-focused private equity firm, and Intel Capital, the venture capital and private equity arm of Intel Corporation, have sold a joint 32.5 percent stake in Romania-based software company SIVECO Romania to the company’s management. Enterprise Investors and Intel Capital bought the stake in 2005, and since then, SIVECO has opened offices in Bulgaria, the… Read More
Ascent Capital and IDG Ventures Acquire a Stake in Newgen Software Technologies (Asia)
India-focused private equity firm Ascent Capital and venture capital firm IDG Ventures have acquired a minority stake in India-based document imaging solutions provider Newgen Software Technologies for INR800 million (approximately US$12.9 million). The transaction was structured through Ascent India Fund III and IDG Ventures India Fund II. Of the total deal amount, INR200 million (approximately US$3.2 million) was a fresh… Read More
AfricInvest Invests in Broron Oil & Gas (Sub-Saharan Africa)
AfricInvest Group, a private equity house focused on North and Sub-Saharan Africa, has invested a reported US$20 million in Nigeria-based oil and gas company Broron Oil & Gas. The transaction was structured through AfricInvest Fund II. Broron Oil & Gas provides offshore support to international oil companies in Nigeria and the Gulf of Guinea. Read More
The Carlyle Group Exits Tirumala Milk Products (Asia)
French dairy firm Groupe Lactalis has acquired a 100 percent stake in India-based dairy company Tirumala Milk Products for a reported US$250 million to US$300 million, allowing global alternative asset manager The Carlyle Group to exit its 26.4 percent stake in the company. The Carlyle Group originally invested US$22 million in Tirumala in 2010. The company sells a range of… Read More
IMM Private Equity Invests KRW200 Billion in Cable TV Operator T-Broad Holdings (Asia)
South Korea-focused private equity firm IMM Private Equity has acquired a 21 percent stake in T-Broad Holdings, a South Korea-based cable operator, for KRW200 billion (approximately US$187 million). The transaction, which was structured through IIM’s second fund, RoseGold II, was made in two tranches: KRW100 billion (approximately US$93.5 million) in common stock and the same amount in convertible preferred shares.… Read More