The Africa-focused private equity arm of investment group Investec Asset Management has acquired a controlling stake in Egypt-based supermarket chain Spinneys Egypt from global growth markets investor The Abraaj Group. Investec invested through its second Africa-focused private equity fund. Financial details of the transaction were not disclosed. Read More
Global private equity, debt, and real estate fund manager H.I.G. Capital has agreed to acquire Brazil-listed glass manufacturer Nadir Figueiredo for BRL836 million (approximately USD222 million). Nadir plans to spin out non-core assets into a separate entity, after which H.I.G. will make a tender offer for the company’s shares at… Read More
South Africa-based footwear company Footgear has agreed to acquire sports apparel retailers Edgars Active and High Key from Edcon Group, a South-Africa based retail company. The transaction will be backed by Old Mutual Private Equity, a division of Africa-focused asset manager Old Mutual Alternative Investments, which recently acquired a majority… Read More
India-based robotics developer Emotix has raised an INR186 million (approximately USD2.7 million) seed investment round from India-focused venture capital firms Chiratae Ventures, YourNest Venture Capital, and Technology Venture Fund. Chiratae committed INR90.8 million (USD1.3 million) of the total amount, while YourNest contributed INR82.6 million (USD1.2 million), and Technology Venture Fund… Read More
Central Europe-focused private equity firm Innova Capital has agreed to acquire a 100 percent stake in Optical Network, a Romania-based optical product distributor and retailer. The company sells eyewear merchandise in stores and online through the OPTIblu, Klarmann, and Conga store brands. Innova, which will invest from buyout fund Innova/6,… Read More
China-focused venture capital firm Plum Ventures has reached a final close for its fifth early-stage fund with CNY533 million (approximately USD77 million) in capital commitments. Institutional investors reportedly committed 80 percent of the fund’s corpus, and the remaining 20 percent was committed by individual investors. The fund reached a first… Read More
Peru-focused private equity fund manager Nexus Group has sold a 6 percent stake in Peru-listed retail company InRetail Perú for USD240 million. InRetail operates supermarkets and shopping malls in Peru, as well as pharmacies in Peru, Ecuador, Colombia, and Bolivia. Nexus first invested in the company in 2011 via NG… Read More
Nigeria-based mobile payments company OPay has raised USD50 million from China-based e-commerce company Meituan-Dianping; Norway-based, US-listed internet browser company Opera; and venture capital fund managers IDG Capital, Sequoia Capital, Source Code Capital, and GSR Ventures. OPay plans to use the new funding to strengthen its presence in Nigeria, expand to… Read More
Global private equity fund manager Warburg Pincus and India-focused venture capital firm SAIF Partners have led a USD65 million Series E investment round for Rivigo, an India-based logistics technology company. The round is reportedly ongoing and includes USD36 million committed by the two lead investors in February 2019. Separately, Warburg… Read More
Philippines-focused private equity fund manager Navegar has reached a first close for its second fund with USD87 million in capital commitments. The fund received commitments from 20 investors, including development finance institution IFC, which committed USD20 million. Navegar II, which is seeking USD200 million in total commitments, plans to make… Read More
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