Africa-focused private investment fund manager Amethis has sold its stake in Ivory Coast-based consumer product marketing company Compagnie de Distribution de Côte d’Ivoire (CDCI) to Retail Holding, a Morocco-based collection of retail brands. Amethis and Retail Holding first invested in CDCI in December 2014. Financial details of the transaction were… Read More
Africa-focused evergreen investment company Tana Africa Capital has agreed to invest MAD200 million (approximately USD20 million) in the red fruits subsidiary of Palmagri, the agricultural division of Morocco-based conglomerate Palmeraie Holdings Group. Through the transaction, Tana Africa will secure a minority stake in Palmagri’s subsidiary and nominate a director to… Read More
China-focused venture capital fund manager INCE Capital has reached a final close for its first fund with USD351.9 million in capital commitments. Investors in the fund include endowments affiliated with the University of Pittsburgh, Duke University, and Carnegie Mellon University; insurance company C.V. Starr; non-profit organizations Dietrich Foundation and Mayo… Read More
India-based online cancer care company Onco has raised USD7 million in a Series A financing round from venture capital fund managers Accel Partners and Chiratae Ventures, as well as strategic consulting and investment firm Dream Incubator. Through its online platform, Onco provides cancer patients with treatment advice and connections with… Read More
Tell Group, a private equity and corporate advisory firm focused on Europe, the Middle East, and North Africa, has led a USD4 million Series A financing round for Algeria-based ride-hailing and delivery platform temtem. The company plans to use the new capital to accelerate its growth and launch new products,… Read More
Philippines-based online payments company PayMongo has raised USD2.7 million in a seed round from US-based internet company Stripe; venture capital firms Founders Fund, Soma Capital, Global Founders Capital, and Y Combinator; and angel investors including PayPal co-founder Peter Thiel and Tinder co-founder Justin Mateen. PayMongo enables local merchants to process… Read More
Financial services-focused venture capital fund manager Quona Capital has led a USD7.5 million seed-stage financing round for Mexico-based digital banking company Klar. Other participants in the round include venture capital firms aCrew, FJ Labs, Arc Labs, and Western Technology Investment, as well as Santander Innoventures, the corporate venture capital arm… Read More
Africa-focused private equity firms Development Partners International (DPI) and Convergence Partners have invested USD54 million in Channel VAS, a UAE-based financial technology company. Channel VAS provides mobile financial, airtime credit, and data analytics services to mobile network providers and financial institutions to facilitate micro-loans. The company currently operates in over… Read More
Estonia- and US-based software developer Snackable AI has raised EUR1.3 million (approximately USD1.4 million) in seed funding led by Europe-focused seed-stage venture capital firm Tera Ventures. Other investors in the funding round include early-stage venture capital firm Superangel and Skype co-founder Jaan Tallinn. The company is currently developing an artificial… Read More
Asia-focused private credit fund manager SSG Capital has agreed to sell a 14.6 percent stake in Future Supply Chain Solutions (FSC), the logistics subsidiary of India-listed conglomerate Future Group, to Japan-based logistics company Nippon Express for INR3.9 billion (approximately USD55 million). Through the transaction, Nippon will also acquire an additional… Read More
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