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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
Sequoia Capital China-backed 500.com Lists on the NYSE (Asia)
China-based sports lottery provider 500.com, backed by venture capital firm Sequoia Capital China and private equity fund Vision Knight Capital, has debuted on the New York Stock Exchange (NYSE). The company closed at US$20 on its first trading day, rising nearly 54 percent from its offer price of US$13. Concurrent with the offering, Sequoia purchased US$15 million worth of Class… Read More
The Abraaj Group and Swedfund Invest US$6.5 Million in The Nairobi Women’s Hospital (Africa)
Global growth markets investor The Abraaj Group and Swedish development finance institution Swedfund have invested US$6.5 million in The Nairobi Women’s Hospital, a Kenya-based provider of private healthcare for women and their families. The transaction was structured through The Abraaj Group’s Africa Health Fund, which previously invested US$2.7 million in The Nairobi Women’s Hospital in 2010. The Nairobi Women’s Hospital… Read More
NEVEQ Sells Bulgaria-based 3DC to TelecityGroup (CEE and CIS)
CEE-focused venture capital fund New Europe Venture Equity (NEVEQ) has exited Bulgaria-based data center provider 3DC to London-listed data center provider TelecityGroup. NEVEQ originally invested EUR2 million in 3DC, which provides carrier-independent co-location services for companies, in 2009. Financial details of the transaction were not disclosed. Read More
Nexxus Capital Holds US$550 Million Final Close on Fund VI (Latin America)
Mexico-based private equity firm Nexxus Capital has held a final close on its sixth private equity fund, Nexxus Capital VI, with US$550 million in capital commitments, exceeding its target of US$400 million. Investors include pension plans, sovereign wealth funds and endowments from North America, Europe and the Middle East. The fund is split into two vehicles to separately accommodate commitments… Read More
SNS FMO SME Finance Fund Reaches EUR100 Million First Close (Global)
FMO SME Finance Fund, a fund initiated by SNS Impact Investing, part of SNS Asset Management, and the Dutch development bank FMO, has reached a first close with EUR100 million in capital commitments. The fund aims to support local small- and medium-sized enterprises (SMEs) in emerging markets by providing loans to SME-focused financial institutions. Investors in this fund include Dutch… Read More
XSML Invests in Democratic Republic of the Congo-based Cotrama (Sub-Saharan Africa)
Frontier markets-focused private equity fund manager XSML has invested in Democratic Republic of the Congo-based transportation service provider Cotrama. The transaction was structured through XSML’s Central Africa SME Fund. Cotrama operates a fleet of around 40 trucks, and intends to use the capital injection to expand and modernize its fleet, as well as to open an additional petrol station in… Read More
Performa Investimentos and Mantiq Investimentos Back Brazil-based Fertilizer Producer Geociclo (Latin America)
Brazil-focused investment management firm Performa Investimentos and private equity fund manager Mantiq Investimentos have invested BRL70 million (approximately US$31 million) in Brazil-based fertilizer producer Geociclo. The company, which produces a fertilizer from poultry waste products and sugarcane waste, intends to use the capital injection for expansion projects. Read More
Mediterra Capital Partners Buys a 49 Percent Stake in Turkey-based Arzum (CEE and CIS)
Turkey-focused private equity firm Mediterra Capital Partners has acquired a 49 percent stake in Turkey-based household appliances producer Arzum Elektrikli Ev Aletleri. Mediterra, through its subsidiary SDA International, bought the stake from Turkish Household Appliance, a unit of emerging markets investment manager Ashmore Group. The company intends to use the capital injection to increase its market share by improving its… Read More