United States- and Latin America-focused private equity firm ACON Investments has held a first close for ACON Latin America Opportunities Fund V with USD253 million in commitments. The firm, which raised approximately USD668 million for its fourth fund in 2014, is targeting USD600 million in total commitments for the new… Read More
Tulip Diagnostics, an India-based reproductive health diagnostics company, has acquired India-based diagnostics device manufacturer Biosense Technologies, facilitating an exit for Asia-focused venture capital impact investors Insitor Partners and Menterra Venutures. Biosense produces affordable point-of-care diagnostic products for the screening, diagnosis, and management of chronic diseases. Insitor and Menterra originally invested… Read More
Affirma Capital, an EM-focused private equity firm operated by the former management team of Standard Chartered Private Equity (SCPE), has exited Bombay Stock Exchange-listed media services provider Prime Focus to Singapore-based investor Augusta Investments. Affirma, which originally invested in the company through SCPE in 2012, sold 29 million shares representing… Read More
India-based e-commerce company WMall has raised INR640 million (approximately USD9 million) in a Series B funding round from India-focused venture capital firms Chiratae Ventures, SAIF Partners, and Venture Highway (also known as VH Capital). The platform, which primarily offers kitchen, beauty, clothing, and home decor products, aims to introduce women… Read More
Global alternative asset management firm The Carlyle Group has completed a partial exit of Bombay Stock Exchange-listed life insurance company SBI Life Insurance, selling 30 million shares representing a 3 percent stake for INR938.83 (approximately USD13) per share and retuning INR28.2 billion (USD392 million). Carlyle acquired a 9.2 percent stake… Read More
Global private equity fund manager Advent International has agreed to acquire a majority stake in India-based biopharmaceutical company Bharat Serums and Vaccines. Advent will acquire Bharat Serums from alternative investment firms OrbiMed Advisors and Kotak Private Equity, as well as the Daftary Family, which founded Bharat Serums in 1971. Kotak… Read More
Nigeria-based mobile payments company OPay has raised a USD120 million Series B funding round from China-based e-commerce company Meituan-Dianping and private equity and venture capital firms IDG Capital, Sequoia Capital, Source Code Capital, GSR Ventures, Gaorong Capital, Redpoint Ventures, Softbank Ventures Asia, and Bertelsmann Asia Investments. OPay intends to use… Read More
Asia-focused alternative asset manager Baring Private Equity Asia (BPEA) has reportedly acquired a majority stake in USA Society English Centres (VUS), a Vietnam-based chain of English language training centers. The company operates 20 centers across Vietnam, enrolling approximately 200,000 students annually. Financial details of the transaction were not disclosed. Read More
Asia-focused direct secondaries fund manager NewQuest Capital has reached a final close for NewQuest Asia Fund IV with USD1 billion in commitments. Investors in the fund include endowments, pension funds, sovereign wealth funds, insurance companies, financial institutions, and family offices across Asia, North America, Europe, and the Middle East. In… Read More
Africa-focused private credit fund manager Vantage Capital has exited its investment in Genser Energy, a US-based company that provides distributed power generation services to industrial and mining companies in Ghana. Vantage exited Genser to a consortium consisting of Africa-focused trade finance firm Barak Fund Management and South Africa-based banks Standard… Read More
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