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InReturn Capital Invests in Leading Supplier of Relief Materials (Sub-Saharan Africa)
East Africa-focused private equity fund manager InReturn Capital has collaborated with the Belgian Investment Company for Developing Countries (BIO) to invest in Reltex Tarpaulins Africa (EPZ) Ltd., a Kenya-based supplier of relief materials, including plastic sheeting, tarpaulins and buckets. The value of the investment has been reported at US$2.6 million, equally split between InReturn and BIO. Read More
Accel Partners Invests US$2.8 Million in Cloud Firm Enterprise Nube (Asia)
India-based cloud services company Enterprise Nube Services has raised INR150 million (approximately US$2.8 million) from global venture capital firm Accel Partners. As part of the transaction, Mahendran Balachandran, a Partner at Accel, will join the board of Enterprise Nube. Accel Partners’ recent investments in the country include e-commerce startup Zanssar.com and online jewelry store Bluestone.com. Read More
MIF Launches Second Stage of Eco-Friendly Venture Capital Fund (Latin America)
The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank Group, in partnership with the European Investment Bank (EIB), the Dutch development bank (FMO) and The Nature Conservancy, has launched the next stage of a venture capital fund focused on community-based sustainable businesses in Latin America. The fund, EcoEnterprises Fund II, has a capitalization of US$20.5 million. Additional… Read More
Qatar’s Mannai, Egyptian Bank EFG Hermes Reach US$445 Million Deal to Buy Mideast Jeweler Damas (MENA)
Qatari conglomerate Mannai Corporation and Egyptian investment bank EFG Hermes have agreed to purchase Damas International, a Middle Eastern jewelry and watch retailer, with a bid of 45 cents per share. Under the terms of the transaction, Mannai will hold a controlling stake of 66 percent in Damas for approximately US$293 million, while EFG Hermes will hold a 19 percent… Read More
Brilla Reaches First Close for Colombian Hotel and Resorts Fund (Latin America)
Brilla Group, a U.S.-based private equity firm focused on luxury beachfront hotel and resort assets in South Florida, the Caribbean, Mexico, Central America and Colombia, has achieved a first closing on its Colombian Beachfront Hospitality Private Equity Fund. The fund has raised US$30 million in commitments to date from Colombian institutions including Bancoldex and local pension funds. The fund is… Read More
PVG Venture Capital Buys 3 Percent of CMGE (Asia)
PVG Venture Capital Partners, an affiliate of Taiwanese venture capital management firm Pacific Venture Group, has acquired a 3.3 percent stake in China Mobile Games and Entertainment (CMGE), a mobile games developer and subsidiary of Hong Kong-listed internet video broadcasting company VODone Limited. Financial terms of the transaction were not disclosed. Read More
New York Life Cuts Stake in CEBBCO (Asia)
New York Life Investment Management India Fund, advised by Jacob Ballas Capital India Private Limited, has sold an approximate 2.77 percent stake of its holding in Commercial Engineers & Body Builders Co. (CEBBCO), an Indian producer of vehicle and locomotive bodies, for an estimated US$1.8 million. Jacob Ballas Capital has been steadily reducing its stake in CEBBCO since the company’s… Read More
Russia’s Frontier Ventures Sets Sights on Internet Businesses (CEE/CIS)
Russian entrepreneur Dmitry Alimov has founded a US$50 million venture fund focused on the consumer sector in Russia. In particular, the fund, Frontier Ventures, will target early-stage internet-oriented consumer companies. Alimov previously ran ru-Net, a Russia-based internet and technology-focused investment company. Read More
Aceco TI Receives Investment from Global Growth Investor General Atlantic (Latin America)
Global growth equity firm General Atlantic has acquired a minority stake in Aceco TI, a company focused on the design and maintenance of data centers in Brazil and Latin America. The partnership will provide capital and strategic advice for the company as it continues to grow in the region. Financial terms of the transaction were not disclosed. Read More
Saudi-funded Eastgate Capital Invests in Fabeks Diş Ticaret Stake (CEE/CIS)
Eastgate Capital Group, the private equity fund management arm of Saudi Arabia’s NCB Capital, has invested in Fabeks Diş Ticaret A.Ş. (Silk & Cashmere), a Turkey-based retail apparel company, through its MENA Direct Equity Fund for a 49.8 percent equity stake. The capital will be used to facilitate the company’s expansion in Turkey and select international markets. The transaction, the… Read More
NetJets Inc. Unveils Joint Venture for China (Asia)
NetJets Inc., a private aviation company owned by Berkshire Hathaway, has announced plans for a new joint venture to bring their services to China. NetJets China Business Aviation Limited will be a joint venture between NetJets Inc. and a consortium of Chinese investors led by Hong Capital subsidiary Hony Jinsi Investment Management (Beijing) Ltd. and Fung Investments. The deal is… Read More
ChrysCapital Raises US$500 Million for New Fund (Asia)
India-focused private equity firm ChrysCapital has reportedly raised US$500 million for a new fund. This is the first fund since the firm announced that Co-Founder and Senior Managing Director Ashish Dhawan will leave the firm later this year. ChrysCapital is purported to have raised capital from a variety of foreign investors, including endowments, pension funds and sovereign wealth funds. Read More