Global venture capital and growth equity investment firm Norwest Venture Partners has reached a final close for Norwest Venture Partners XV with USD2 billion in capital commitments. The fund will make seed-to-late-stage investments in consumer, enterprise, and health care companies based in North America, India, and Israel. Read More
Jamaica-focused investment holding company PanJam Investment and Caribbean-focused fund manager Portland Private Equity have agreed to each acquire a 15 percent stake in Outsourcing Management, a Jamaica-based business process outsourcing company operating under the brand itelpo. The company offers voice and digital contact center and customer experience management services in… Read More
Global growth markets investor Actis, through its Azura Power platform, and Africa-focused infrastructure investor Africa50 have completed an investment in Senegal-based Tobene Power. The 115-megawatt Tobene Power plant was previously part of the development portfolio of Lebanon-based Melec Power Gen (MPG). Actis and Africa50 plan to convert the Tobene plant… Read More
China-based electric vehicle manufacturer Xpeng Motors has secured USD400 million in a Series C financing round led by China-based electronics producer Xiaomi. Other investors in the funding round reportedly include the company’s existing shareholders, such as venture capital fund managers Morningside Ventures and Matrix Partners. The company, which recently released… Read More
China-focused private equity firm Primavera Capital Management has reached a final close for Primavera Capital Fund III with USD3.4 billion in capital commitments. Investors in the fund include Taiwan Life Insurance and US-based pension funds Pennsylvania State Employees’ Retirement System, New York State Teachers’ Retirement System, and Texas Permanent School… Read More
US-based global payments company Visa has agreed to acquire a minority stake in Nigeria-based digital payments processing and switching services provider Interswitch, facilitating a partial exit for Africa-focused private equity fund manager Helios Investment Partners. Helios originally invested in the business in 2010 and sold a partial stake to global… Read More
India-focused venture capital firm Windrose Capital has reached a first close for The Next Billion Fund with USD30 million in capital commitments. Investors include individual entrepreneurs operating in a variety of industries. The fund has already reportedly completed three investments and will target seed and early-stage funding rounds for companies… Read More
Middle East- and North Africa-focused venture capital firm Saudi Technology Ventures (STV) has led a USD23 million Series A investment in TruKKer, a UAE-based digital trucking logistics platform. Other participants in the funding round include development finance institution IFC; Middle East-focused investment firm Alturki Holding; and private equity and venture… Read More
China-based baby formula producer China Feihe has raised HKD6.7 billion (approximately USD856 million) in its initial public offering (IPO) on the Hong Kong Stock Exchange. The company sold 893 million shares at a price of HKD7.50 (USD0.96) per share. Investors in Feihe include Asia-focused private equity investor Morgan Stanley Private… Read More
Pan-African private equity fund manager Emerging Capital Partners (ECP) has agreed to partially exit its stake in BRVM-listed, pan-African financial services provider Oragroup as part of Côte d’Ivoire-based Caisse Générale de Retraite des Agents de l’Etat (CGRAE)’s acquisition of a 61.45 percent stake in the company. ECP originally acquired Oragroup… Read More
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