Indonesia-based online travel platform Traveloka has reportedly raised USD420 million in a funding round led by Singaporean sovereign wealth fund GIC. Existing investors in the company, including Hillhouse Capital Management, Sequoia Capital, East Ventures, Global Founders Capital, JD.com, and Expedia, also participated in the round. Traveloka will use the funds… Read More
China-focused venture capital fund manager Source Code Capital has reportedly raised a combined USD570 million for Source Code Venture Fund IV and Source Code Growth Fund I. Investors in the funds include sovereign wealth funds, endowments, foundations, pension funds, funds of funds, family offices, and executives from global companies. Source… Read More
Africa-focused private equity fund manager Phatisa has agreed to sell its controlling stake in Africa-based fertilizer distributor Meridian Group to Saudi Arabia-listed mining and metals group Ma’aden. Phatisa originally invested in Meridian, which has a presence in Malawi, Mozambique, Zimbabwe, and Zambia, in 2014 through its African Agriculture Fund. Financial… Read More
Global private equity fund manager Warburg Pincus has led a Series D funding round of USD140 million for China-based K-12 education company Gaosi Education. The company provides one-on-one and live-streamed tutoring services in various subject areas, as well as tools and services for educators, and plans to use the funds… Read More
China-based coffee chain Luckin Coffee has raised USD150 million in a funding round led by global asset manager BlackRock, which contributed USD125 million of the total. Luckin, which is also backed by Singaporean sovereign wealth fund GIC and China-focused investors Centurium Capital, CICC, Legend Capital, and Joy Capital, plans to… Read More
India-based non-banking financial company Electronica Finance (EFL) has issued USD10 million in INR-denominated, senior-secured green bonds to impact investment fund manager responsAbility Investments. EFL will use the funds to provide equipment financing for small and medium-sized enterprises (SMEs) in the machine tools, plastics, printing, and packaging industries in India. The… Read More
Global growth equity fund manager TA Associates has acquired a significant minority stake in India-based fertility treatment provider Indira IVF. The company operates 59 treatment centers across 16 states in India and will partner with TA to grow its business in India and abroad, as well as to expand its… Read More
Malaysian national oil and gas company Petroliam Nasional (Petronas) has agreed to acquire 100 percent of Singapore- and India-based distributed solar power developer Amplus Energy Solutions (also known as M+) for a reported INR27 billion (approximately USD389 million). The transaction will provide an exit for global infrastructure fund manager I… Read More
Kinea Investimentos, the alternative asset management subsidiary of Brazil-based financial services group Itaú, has agreed to acquire a 20 percent stake in Brazil-based foreign language education group Wiser Educação for BRL200 million (approximately USD52 million). Wiser’s existing shareholders Flávio Augusto da Silva and Carlos Wizard Martins will each reportedly receive… Read More
China-focused private equity fund manager DCP Capital has reached a final close for its debut fund with USD2.5 billion in capital commitments, including USD500 million raised through a local RMB-denominated vehicle. Investors in the fund include sovereign wealth funds GIC, Temasek Holdings, and Abu Dhabi Investment Authority and pension funds… Read More
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