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Sequoia Capital Leads US$15m Series C Investment in App Annie (Asia)
Venture capital firm Sequoia Capital has led a US$15 million Series C financing round in China-based provider of app store analytics App Annie. Venture capital firms IDG Capital Partners, Greycroft Partners, e.ventures and Infinity Venture Partners also participated. The company intends to use the capital injection to expand the App Annie platform, grow sales and marketing teams in San Francisco… Read More
Phatisa Holds Final Close of African Agriculture Fund at US$243 Million (Sub-Saharan Africa)
Private equity fund manager Phatisa has concluded fundraising for its African Agriculture Fund (AAF), with US$243 million in total capital commitments. The fund will target agriculture and food production in Africa. Investors in the fund include development finance institutions, government agencies, commercial banks, fund-of-funds and private investors. Phatisa has already made nine investments via AAF, and hopes to disperse 50… Read More
IDFC Alternatives Closes Second Infrastructure Fund at US$644 Million (Asia)
IDFC Alternatives, the alternative asset management vertical at IDFC, has reached the first close of its second infrastructure fund India Infrastructure II (IIF2) with US$644 million in capital commitments. There will also be a co-investment pool alongside the fund that includes IDFC dry powder of over US$900 million. IIF2, which has a target of US$1 billion, will focus on core… Read More
Lunar Capital Exits China Mobile Payment Business to Ping An (Asia)
China-focused private equity firm Lunar Capital and co-investors, venture capital firms RRE Ventures and Icon, have sold their stake in China-based third-party online payment provider SmartPay to an affiliate of insurance and financial services holding company Ping An Insurance Company of China. Ping An intends to grow the business to expand its presence in the third-party payments space. Financial details… Read More
TPG Growth Invests INR1.5 Billion in Sutures India (Asia)
TPG Growth, the middle market and growth equity platform of global private investment firm TPG, has acquired a 25 percent stake in India-based surgical sutures manufacturer Sutures India for INR1.5 billion (approximately US$23.5 million). The transaction involved a mix of primary and secondary share purchases, with around INR750 million (approximately US$11.8 million) of the total investment used to purchase shares… Read More
Investcorp’s Gulf Opportunity Fund Acquires a 25 Percent Stake in Saudi Arabia’s Leejam Sports Company (MENA)
Investcorp, a global provider and manager of alternative investment products, has acquired a 25 percent stake in Saudi Arabia-based Leejam Sports Company, owner of the sports and fitness brand Fitness Time. The transaction was structured through Investcorp’s Gulf Opportunity Fund. Leejam has over 1,400 employees and currently operates over 62 locations in Saudi Arabia. It plans to use the new… Read More
Fanisi Capital Invests up to US$3 Million in Kenyan Pharmacy Chain Haltons (Sub-Saharan Africa)
East Africa-focused private equity and venture capital investor Fanisi Capital has acquired a significant stake in Kenya-based retail pharmacy chain Haltons for up to US$3 million. Haltons operates four retail outlets within Nairobi and intends to use the capital injection to expand its portfolio over the next two years to more than 100 outlets in Kenyan towns including Mombasa, Nakuru,… Read More
AION Capital Partners to Invest INR3 Billion in Jyoti Structures (Asia)
AION Capital Partners, a joint venture between alternative asset managers Apollo Global Management and ICICI Venture, is investing INR3 billion (approximately US$47.2 million) in India-based power company Jyoti Structures. AION, which has already committed INR2 billion (approximately US$31.4 million), will acquire a significant minority stake through long-dated structured securities and will deploy the remaining capital in tranches linked to certain… Read More
ADM Capital Invests in Agricultural Investment Platform Irrico (CEE and CIS)
ADM Capital, an investment firm focused primarily on recovery, special situations and event-driven opportunities in emerging markets, has invested US$30 million in Russia-based agricultural company Irrico. Irrico was formed by global investment bank VTB Capital in 2012 to acquire large scale operating farms in Southern Russia and install modern machinery and irrigation technology. The company intends to use the new… Read More
ChrysCapital Starts Selling Stake in JMT Auto (Asia)
ChrysCapital, an investment firm that focuses on growth sectors in India, has started selling its stake in India-based automobile component manufacturer JMT Auto, exiting 1.49 million shares, or a little over a ten percent stake, through block deals for INR192 million (approximately US$3 million). ChrysCapital originally invested in the company in 2006 and will make a reported marginal profit of… Read More
3TS Capital Partners Announces First Closing of TCEE Fund III at EUR103 Million (CEE and CIS)
Central and Eastern Europe-focused private equity firm 3TS Capital Partners has announced the first closing of its latest fund, TCEE Fund III, with EUR103 million (approximately US$136 million) in capital commitments. TCEE Fund III will continue the firm’s focus on growth capital investments in the broader telecommunications, media and technology sectors. Limited partners committing to the fund include Cisco Systems,… Read More
Baring Vostok Funds Pocket US$327 Million from Yandex Stake Sale (CEE and CIS)
Baring Vostok, a private equity firm operating in Russia and the CIS, has sold a three percent stake in Russia-based online search engine operator Yandex for US$327 million. Baring Vostok funds have steadily reduced their stake in the internet company from 16 percent as of December 2012 to about 7 percent after the latest sale. In March, Baring Vostok funds… Read More