Egypt-based transportation booking company Swvl has raised USD42 million from global investors Vostok New Ventures, BECO Capital, MSA Capital, and Endeavor Catalyst in its latest funding round. Founded in 2017, Swvl offers scheduled, shared bus rides to customers in Egypt and Kenya, and will use the capital to expand operations… Read More
South Africa-focused private equity fund manager Ethos has agreed to invest ZAR200 million (approximately USD13 million) in TymeBank, a South Africa-based digital bank. Ethos will acquire an eight percent stake in TymeBank through the Ethos AI Fund. TymeBank was officially launched in February 2019 and offers low-cost transactional banking services… Read More
CMB Prime, a Chile-focused infrastructure investor, and LarrainVial, a Chile-based financial services firm, have reached a final close for CMB LV Infraestructura III with USD400 million in capital commitments. Investors in the fund include Chilean pension funds and insurance companies. The fund will pursue both greenfield and brownfield opportunities in… Read More
Pan-African private equity fund manager EXEO Capital has reached a final close for Agri-Vie Fund II with capital commitments totaling USD146 million. Investors in the fund include development finance institutions Norfund and Proparco, as well as insurance companies and foundations. Agri-Vie Fund II will make growth investments of USD5 million… Read More
Global private equity firm Bain Capital has partially exited its stake in Brazil-listed health care provider Grupo Notre Dame Intermédica (GNDI), generating gross proceeds of BRL2.37 billion (approximately USD608 million). Bain sold 60 million shares for BRL39.50 (approximately USD10) per share. Bain originally acquired GNDI for BRL2 billion (USD861 million)… Read More
Global private equity fund manager Cathay Capital Private Equity has reached a first close for its second venture fund, Cathay Innovation Fund II, with EUR320 million (approximately USD359 million) in capital commitments. Investors in the fund include Bpifrance, Groupe ADP, Groupe SEB, Michelin, and Valeo—all of which previously committed to… Read More
China-based cosmetics and skin care products supplier Guangdong Marubi Biotechnology has raised CNY841 million (approximately USD122 million) in its initial public offering (IPO) on the Shanghai Stock Exchange. The company sold 41 million shares at a price of CNY20.5 per share (USD2.98) in the offering. Marubi is backed by global… Read More
India-based scooter rental company Bounce has secured USD72 million in a Series C funding round led by global venture investor B Capital Group and alternative asset manager Falcon Edge Capital. Other participants in the round include Sequoia Capital, Accel Partners, Chiratae Ventures, Qualcomm Ventures, Maverick Ventures, and Omidyar Network. Bounce,… Read More
Africa-focused private equity fund manager AfricInvest has acquired an additional 3 percent stake in Nairobi Stock Exchange-listed financial services group Britam for KES273 million (approximately USD3 million), bringing its total stake in the company to 18 percent. Britam provides insurance, banking, and asset management services across Eastern and Southern Africa. Read More
Hansoh Pharmaceuticals, a China-based drug developer, has completed its initial public offering on the Hong Kong Stock Exchange, selling 551 million shares at HKD14.26 per share, generating gross proceeds of HKD7.9 billion (approximately USD1 billion). Existing private investors Boyu Capital and Hillhouse Capital retained their stakes of 3.29 percent and… Read More
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