North Africa-focused venture capital firm Sawari Ventures has reached a first close for Sawari Ventures North Africa Fund I with US$35 million in capital commitments. Investors in the fund include development finance institutions CDC, Proparco, the Dutch Good Growth Fund and the European Investment Bank, which committed US$11 million. The… Read More
Tencent Music Entertainment (TME), the music streaming subsidiary of China-based technology conglomerate Tencent Holdings, has raised US$1.1 billion in its initial public offering (IPO) on the New York Stock Exchange. The company sold 82 million American Depository Shares (ADS)—including 41 million primary ADS and 41 million ADS sold by existing… Read More
Accion Venture Lab, the seed-stage investment initiative of financial inclusion-focused investor Accion, has exited its stake in Aye Finance, an India-based non-banking financial company providing loans to micro, small and medium-sized enterprises. Accion continues to hold a stake in the company through Accion Global Investments, the firm’s later-stage investment vehicle. Read More
Global private equity firm Bain Capital has reached a final close for its fourth Asia buyout fund with US$4.7 billion in capital commitments. The firm and affiliated parties committed US$650 million to the fund while the remaining US$4 billion was raised from external investors. Pennsylvania Public School Employees’ Retirement System… Read More
International Finance Corporation (IFC) has led a seed investment round of US$6 million for Kobo360, a Nigeria-based digital logistics platform serving agribusiness, consumer goods and manufacturing companies with long-haul freighting needs. Other investors in the round include private equity and venture capital firms Cardinal Stone Partners, Chandaria Capital, Sequoia Scout,… Read More
Central and Eastern Europe-focused private credit fund manager Mezzanine Management has reached a final close for Accession Mezzanine Capital IV with EUR264 million (approximately US$299 million) in capital commitments. The fund will employ a combination of long-term debt and equity to provide flexible growth capital to mid-market businesses in Central… Read More
Balkans-focused venture capital investor South Central Ventures has led a US$5.5 million financing round for U.S.-based software developer ConveyIQ. CEE-focused venture capital firm 3TS Capital Partners and technology-focused investor StarVest Partners also participated in the round. ConveyIQ, which develops talent acquisition software for businesses and has offices in the United… Read More
Triple P Capital, a private equity fund manager focused on financial inclusion in Southeast Asia, has reportedly invested US$3 million in Singapore-based financial literacy startup The Praxis Company. Praxis uses gamification to teach money management, providing services to financial firms, schools, universities and corporate clients. The company plans to use… Read More
China-focused venture capital fund manager Gaorong Capital, formerly known as Banyan Capital, has reached a final close for Gaorong Partners Fund IV with capital commitments totaling US$450 million. Investors in the fund include sovereign wealth funds, endowments, family foundations, pension funds, funds of funds and high-net worth individuals. Gaorong focuses… Read More
U.A.E.-based real estate classifieds portal Property Finder has raised US$120 million in an investment round led by global growth equity fund manager General Atlantic. Existing shareholder Vostok New Ventures also participated in the round. Property Finder provides real estate listing services across the Middle East, North Africa and Turkey and… Read More
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