Southeast Asia-focused private equity firm Asia Partners Fund Management has reached a first close for its debut fund with approximately USD70 million in commitments. The fund will focus on providing growth capital to Southeast Asian technology companies in sectors such as travel, e-commerce logistics, and enterprise software. The expected ticket… Read More
Old Mutual Private Equity (OMPE), a division of Africa-focused asset manager Old Mutual Alternative Investments, has agreed to acquire a majority stake in South Africa-based shoe retailer Footgear. Founded in 2001, Footgear sells its branded footwear in 63 stores across South Africa. The investment will provide Footgear with strategic support,… Read More
Morocco-focused venture capital fund manager MITC Capital has sold its stake in on-demand transportation services provider Ma-Navette to Glen Invest, a Morocco-focused investment holding company. MITC originally invested in Ma-Navette, which manages a fleet of 130 vehicles in Morocco, in 2015 through Maroc Numeric Fund. Financial details of the transaction… Read More
Pan-African private equity fund manager Emerging Capital Partners (ECP) has agreed to acquire a majority stake in Mauritius-based Inter Africa Transport Forex through its fourth flagship fund. The financial technology company provides a platform that enables transportation and shipping companies to procure, manage, and track their expenditures across 11 countries. Read More
South Korea-based online travel platform Yanolja has raised USD180 million in a Series D funding round from Singaporean sovereign wealth fund GIC and online travel group Booking Holdings. Yanolja and Booking Holdings have also entered into a strategic partnership that will allow their respective customers to access both services. Previous… Read More
Global telecom and technology investment group SoftBank will lead existing investors, including private equity firms General Atlantic, Atomico, and Valor Capital Group, in a new USD300 million funding round for Brazil-based fitness company Gympass. Softbank’s investment will come from the SoftBank Vision Fund, with the SoftBank Latin America Fund expected… Read More
Aqua Ventures, a China-focused venture capital fund manager, has announced the final close of its second RMB-denominated fund. Investors include internet companies, funds of funds, government guidance funds, and high-net-worth individuals. The firm primarily makes early-stage investments in companies integrating the internet with traditional industries in sectors such as health… Read More
Global alternative investment manager KKR has agreed to sell KCF Technologies (KCFT), a South Korea-based producer of copper foils for lithium ion batteries, to SKC, an affiliate of Korean conglomerate SK Group, for KRW1.2 trillion (approximately USD1 billion). KCFT was carved out of LS Group alongside LS Automotive, a Korea-based… Read More
Africa-focused private investment fund manager Amethis has reached a final close for Amethis Fund II with EUR375 million (approximately USD425 million) in capital commitments. Investors in the fund include the Edmond de Rothschild Group, the family of Ariane and Benjamin de Rothschild, Madagascar-based conglomerate Axian Group, and development finance institutions… Read More
outh- and Southeast Asia-focused early-stage impact investor Aavishkaar will exit its stake in Jaypore E-Commerce, an India-based retailer of clothing, handicrafts, and accessories, to Aditya Birla Fashion and Retail (ABFRL). ABFRL has agreed to acquire 100 percent of Jaypore at an enterprise value of INR1.1 billion (approximately USD16 million). Separately,… Read More
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