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Amethis Finance Completes First Equity Transaction by Investing in Chase Bank (Sub-Saharan Africa)
Amethis Finance, a Luxembourg-based, Africa-focused investment firm, has invested US$10.5 million in Kenya’s Chase Bank. The deal represents Amethis Finance’s first equity investment and follows the December 2012 US$140 million first close of its maiden fund. Chase Bank, which specializes in lending to Kenyan SMEs, plans to use the investment to strengthen its market position and build out its retail… Read More
Sequoia Backs Chinese Publisher (Asia)
Global venture capital firm Sequoia Capital has reportedly invested RMB150 million (approximately US$23.8 million) in New Classic Culture Co., a Chinese publishing company. New Classic Culture publishes books and operates the website Readlife.com. The company has reportedly earmarked RMB40 million (approximately US$6.4 million) of the invested capital for new acquisitions. Read More
Summit Partners Invests in Jumia (Sub-Saharan Africa)
U.S.-based investment firm Summit Partners has invested US$26 million in Jumia, an online retailer based in Nigeria. Jumia sells a range of products in Nigeria, Egypt and Morocco, and the funding is intended to aid its expansion into additional African markets. Jumia was developed and launched by German incubator program Rocket Internet in 2012. Read More
Creation Investments Leads US$10 Million Grameen Equity Financing (Asia)
U.S.-based investment firms Creation Investments and MicroVentures, and Belgian microfinance investor Incofin have invested INR532 million (approximately US$10 million) in Indian microfinance company Grameen Financial Services. Creation Investments provided INR375 million (approximately US$6.8 million) of the invested capital, which is intended to help Grameen increase its coverage and expand its operations throughout India. Grameen provides credit and insurance to rural… Read More
Beamonte Investments Acquires Minority Stake in Financial Arm of Grupo Andrade (Latin America)
Beamonte Investments, a U.S.-based investment and advisory firm, has acquired a minority stake in Integra Arrenda, a Mexican transportation equipment leasing and financing company. Integra Arrenda is the financial arm of Mexico’s Grupo Andrade, which leases and sells automobiles and other vehicles in Mexico. Financial details of the transaction were not disclosed. Read More
Abris Closes Fund at EUR450 Million (CEE and CIS)
Central and Eastern Europe-focused private equity firm Abris Capital Partners has closed its second fund, Abris II, with EUR450 million (approximately US$586 million) in commitments. The fund, which was originally targeting EUR400 million (approximately US$521 million), received commitments from 21 institutional investors from Europe and abroad. Abris seeks to invest in deals with an enterprise value of EUR15 million to… Read More
Innova Capital Sells DONAKO to Rudolf Weinberger Holding (CEE and CIS)
Rudolf Weinberger Holding, the parent company of Austrian roll foundry Eisenwerk Sulzau-Werfen R. & E. Weinberger (ESW), has acquired a 100 percent stake in Polish manufacturer DONAKO from Central and Eastern Europe-focused private equity firm Innova Capital and Germany-based investment company Zeleznik Industrie Consulting. DONAKO produces high precision laminates and tools for electric generators and large motors. Financial details of… Read More
Bridge Launches with US$24 Million in Funding (Asia)
Bridge, a financial services company focused on extending access to finance to customers in rural Philippines, has received a US$24 million investment from Accion, a global non-profit microfinance organization, development finance institutions FMO and DEG, Bamboo Finance, a global private equity firm specializing in microfinance, and Paul Kocourek, Bridge’s Founding Principal and Chairman. Bridge aims to provide capital, as well… Read More
Resource Capital Funds Invests in Provale (Latin America)
Mining-focused private equity firm Resource Capital Funds has invested in Brazilian calcium carbonate producer Provale. Provale plans to use part of the invested capital to build two new production plants. Financial details of the transaction were not disclosed. Read More
China’s Beisen Gets Series B Funding from Matrix, Sequoia (Asia)
U.S.-based venture capital firms Sequoia Capital and Matrix Partners have invested US$10 million in Series B financing in Beisen, a Chinese supplier of human resources testing tools and services. Beisen has developed a cloud-based platform offering integrated recruitment, evaluation and talent management services. The funding is intended for additional product development. Read More
Apax Partners Continues Exit from Apollo Hospitals, Sells Stake Worth US$83 Million (Asia)
Global private equity investment group Apax Partners has sold a 3.88 percent stake in Indian hospital operator Apollo Hospitals Enterprise to investment management firm Oppenheimer Funds for INR4.45 billion (approximately US$83 million). The transaction took place through a bulk share sale on the Bombay Stock Exchange and National Stock Exchange and follows a similar share sale undertaken by Apax in… Read More
U.K. Music Retailer HMV’s Hong Kong, Singapore Businesses Sold to Private Equity Firm (Asia)
AID Capital Partners, a China-based private equity firm, has purchased the Hong Kong and Singapore operations of U.K.-based music retailer HMV Group. AID acquired six retail stores and an e-commerce outlet in Hong Kong and two stores in Singapore, along with licenses in China, Taiwan and Macau. Financial details of the transaction were not disclosed. Read More