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Vantage Capital Launches The Vantage GreenX Fund with Total Commitments of ZAR2.2 Billion (Sub-Saharan Africa)
Mezzanine-focused private equity fund manager Vantage Capital Group has launched a renewable energy debt fund, The Vantage GreenX Fund, with ZAR2.2 billion (approximately US$215 million) in capital commitments. Investors include a number of South African pension funds. The Vantage GreenX Fund will invest in the senior debt of projects that were awarded as part of the South African Renewable Energy… Read More
IvyCap Ventures, IDG Ventures India and RVCF Participate in a Series B Round for Aujas Networks (Asia)
Venture capital firm IvyCap Ventures has led an INR310 million (approximately US$5 million) financing round for India-based information risk management service provider Aujas Networks. Existing investor IDG Ventures India, a technology-focused venture capital firm, and new investor Rajasthan Venture Capital Fund (RVCF), a venture capital fund manager, also participated in the round. Aujas was originally incubated by IDG as part… Read More
VTB Capital Sells Shares in Russia-based Luxoft in NYSE Follow-on Offering (CEE and CIS)
VTB Capital, the investment arm of Russia-based VTB Group, has completed the sale of its stake in Russia-based Luxoft Holding, a provider of software development services and IT solutions, in a secondary public offering on the New York Stock Exchange (NYSE) that was more than three times oversubscribed. VTB Capital sold 2.8 million Class A ordinary shares held by its… Read More
Investcorp Acquires Minority Stake in Turkey-based Meat Producer Namet (CEE and CIS)
Investcorp, a Bahrain-based manager of alternative investment products, will acquire a minority stake in Turkey-based meat producer Namet, which offers products such as pastrami, sausage, salami, bacon, smoked hot dogs and roast beef. Financial details of the transaction, which is subject to approval by the Turkish Competition Authority, were not disclosed. Read More
Convergence Partners Holds a US$145 Million First Close on Africa-focused ICT Infrastructure Fund (Sub-Saharan Africa)
Africa-focused investment management firm Convergence Partners has reached a first close on Convergence Partners Communications Infrastructure Fund (CPCIF) with US$145 million in capital commitments. Investors include development finance institutions International Finance Corporation, European Investment Bank, Netherlands Development Finance Company, Development Bank of Southern Africa and CDC Group. CPCIF, which has a final target of US$250 million, aims to invest in… Read More
KKR to Invest Around US$200 Million in India-based Gland Pharma (Asia)
Global investment firm Kohlberg Kravis Roberts & Co. (KKR) has reached an agreement with India-based pharmaceutical developer and manufacturer Gland Pharma to acquire a minority stake in the company for approximately US$200 million. The transaction will be structured through the KKR Asian II Fund, and includes KKR’s acquisition of the entire stake held by life science-focused private equity investor Evolvence… Read More
IDFC Alternatives Partially Exits Construction Company Ashoka Buildcon (Asia)
IDFC Alternatives, the alternative asset management vertical at infrastructure financing company IDFC, has sold a six percent stake in India-based Ashoka Buildcon, which constructs and operates roads and bridges on a build, operate and transfer basis, for INR513 million (approximately US$8.2 million). The transaction was structured through IDFC Infrastructure Fund II. All of the shares were acquired by investment manager… Read More
Warburg Pincus Partially Exits India-based Amtek Auto (Asia)
Global private equity firm Warburg Pincus has partially exited India-based auto components manufacturer Amtek Auto, selling a 1.1 percent stake over two days on the Bombay Stock Exchange for around INR170 million (approximately US$2.7 million). With this sale, Warburg’s stake fell from 7.4 percent to 6.3 percent, worth around INR940 million (approximately US$15 million). The firm originally picked up more… Read More
GGV Capital, Morningside Group and Shunwei Invest US$50 Million in Kingsoft Office Software (Asia)
Hong Kong-based software development company Kingsoft Office Software has raised US$50 million in new funding from venture capital firms Morningside Group, GGV Capital and Shunwei Capital Partners, structured through Shunwei China Internet Fund. The company, which makes an office suite that competes with Microsoft Office, intends to use the capital injection to support its U.S. operations and expand globally by… Read More
Phatisa Acquires a Majority Stake in Malawi-based Farming and Engineering Services (Sub-Saharan Africa)
Private equity fund manager Phatisa has acquired a majority stake in Malawi-based agricultural engineering and equipment distribution company Farming and Engineering Services (FES). The transaction was structured through Phatisa’s African Agriculture Fund. FES intends to use the new capital to expand services to Malawi’s agricultural sector. Financial details of the transaction were not disclosed. Read More
Private Equity-backed GTS Central Europe Sold to Deutsche Telekom for EUR546 Million (CEE and CIS)
Germany-based telecommunications company Deutsche Telekom has agreed to acquire Poland-based telecommunications service provider GTS Central Europe from the company’s private equity backers, including private equity firm Columbia Capital, fund of funds HarbourVest Partners, mid-market private equity firm Innova Capital and private equity firm M/C Partners, for EUR546 million (approximately US$730 million). The purchase price values GTS, which sells internet and… Read More
Phillip Private Equity Leads a US$3 Million Series B Round for Singapore-based Clozette (Asia)
Private equity firm Phillip Private Equity has led a US$3 million Series B financing round for Singapore-based fashion social network Clozette. Existing stakeholders, including venture capital firm Walden International and angel investors, also participated in the round. The company intends to use the new funds to recruit talent, accelerate growth and build partnerships in Japan, Taiwan and Indonesia. It previously… Read More