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CDC and The Abraaj Group Invest in Rainbow Hospitals (Asia)
The United Kingdom’s development finance institution CDC and global growth markets investor The Abraaj Group will invest US$17.5 million in Rainbow Hospitals, an India-based 450-bed pediatric and maternity healthcare company. Rainbow Hospitals intends to use the new financing to expand beyond the state of Andhra Pradesh to cities such as Bangalore, Chennai and Pune. Read More
China Venture Capital Invests in Soil Remediation Firm (Asia)
China-focused venture capital firm China Venture Capital has agreed to invest RMB15m (approximately US$2.4 million) in China-based Jiangsu Suntime Environmental Remediation, a company specializing in contaminated soil remediation. The company has worked on soil remediation projects in Jiangsu, Gaohyou, Yangzhou and Changzhou. Read More
Cordiant Inks First Deal with Fourth Fund (Asia)
Cordiant Capital, a fund manager specializing in emerging markets credit and private equity investments, has provided a US$55 million loan to Sri Lanka-based microfinance institution Lanka Orix Micro Credit (LOMC). The transaction, which was made in partnership with the Dutch development bank FMO, was structured through Cordiant Emerging Loan Fund IV and was the first deal from this fund. LOMC… Read More
Northstar Moves into Real Estate Through Debut Deal (Asia)
Southeast Asia-focused private equity firm The Northstar Group has partnered with Singapore-based brokerage firm ERA Real Estate to lead a management buyout of ERA Real Estate from Hersing Corporation, a Singapore-based brand manager and service provider. Local media reports valued the deal at SGD$130 million (approximately US$102.5 million), which is understood to include some leverage. Northstar has created Realty Partners… Read More
Orchid Asia, GGV Capital Jointly Invest in Beauty Plus (Asia)
Venture capital firm GGV Capital and Asia-focused investment group Orchid Asia participated in a Series A investment in Beauty Plus, a China-based cosmetics retailer. Beauty Plus intends to use the capital injection for brand building and business development, with the goal to work towards an IPO. Financial details of the transaction were not disclosed. Read More
Private Equity Funds to Buy Stake in Janalakshmi Financial Services for INR3.5 Billion (Asia)
A consortium of private equity firms including Tata Capital, the private equity arm of the Indian conglomerate Tata Group, and Morgan Stanley Global Private Equity will acquire a significant minority stake in India-based microlender Janalakshmi Financial Services for INR3.5 billion (approximately US$56.8 million). Janalakshmi, a non-banking financial company focused on India’s urban poor, offers financial services to five million customers… Read More
Organica Water Closes Series B Financing (CEE and CIS)
Hungary-based wastewater treatment and recycling provider Organica Water has closed a Series B round of financing led by International Finance Corporation. Other participants in the round included Invesco WLR Private Equity Investment Management Company (Huaneng Invesco), a joint venture between Huaneng Capital, Invesco and Invesco affiliate WL Ross & Co., and existing investors environmental markets-focused private equity firm RNK Capital… Read More
ASK Pravi Invests INR600 Million in Omni Hospitals (Asia)
Private equity firm ASK Pravi Capital Advisors, a joint venture between ASK Group and Pravi Capital, has invested INR600 million (approximately US$9.7 million) in India-based tertiary care hospital chain Omni Hospitals for a significant minority stake. The company, which operates as a unit of Incor Hospitals, intends to use the new financing to expand its business across South and East… Read More
FINAM Sells 30 Percent of Shares in Banki.ru for US$6 Million (CEE and CIS)
Russia-focused growth capital and buyout investor FINAM Global has sold its 30 percent stake in Russian bank information website Banki.ru for US$6 million to Russia Partners, a Russia and CIS-focused private equity firm. The secondary transaction was structured through Russia Partners Technology Fund. FINAM Global originally bought the 30 percent stake in 2010 for US$3 million. Read More
Brazilian Vacation Bookings Company HotelUrbano Gets US$20 Million in Third Round Led By IVP (Latin America)
Global private equity and venture capital firm Insight Venture Partners (IVP) led a US$20 million Series C round investment in Brazil-focused vacation bookings e-platform HotelUrbano for about a four percent stake. The company, which was valued at approximately US$250 million in April, plans to use the new capital to launch in other Latin American markets, develop new product lines and… Read More
Aavishkaar II Announces Its Final Close at US$94 Million (Asia)
Aavishkaar Venture Management Services, a venture capital firm focused on India’s rural areas, has announced the final close of Aavishkaar India II Company, a venture capital fund that targets India’s low-income states, at US$94 million. The fund, which held a first close in September 2011 at US$70 million, has already made seven investments in early-stage enterprises across sectors including agriculture,… Read More
Actis Buys African Payments Business for US$95 Million (Sub-Saharan Africa)
Pan-emerging markets private equity firm Actis will acquire a 100 percent stake in Paycorp, a South Africa-based payments business, together with the company’s management team for US$95 million. Actis and the management will purchase the stake from financial services group Transaction Capital, which bought the company in 2006. Paycorp is a non-bank card issuer and ATM company, operating nearly 5,000… Read More