China-focused private equity fund manager Bull Capital Partners has led a US$30 million Series C round for Baibu, a China-based business-to-business (B2B) trading platform for textile and fabrics. Existing investors Source Code Capital, Yunqi Partners and Chengwei Capital also participated in the round. Read More
Finch Capital, a venture capital firm investing in early-stage financial technology businesses in Southeast Asia and Europe, has exited its minority stake in Indonesia-based online financial product marketplace Cermati to Indonesia-based conglomerate Djarum Group. Finch originally invested in Cermati’s Series A round in February 2017 and reportedly generated a 2.7x… Read More
Global venture capital firm Sequoia Capital has reached final closes for its latest China-focused funds with US$2.5 billion in aggregate capital commitments. Sequoia raised US$1.8 billion for Sequoia Capital China Growth Fund V, US$550 million for Sequoia Capital China Venture Fund VII and US$150 million for Sequoia Capital China Seed… Read More
Global alternative investment manager KKR, through its credit arm, has agreed to acquire 100 percent of JBF Petrochemicals, a subsidiary of India-based polyester manufacturer JBF Industries. The parent company, which reportedly has total debt of about INR110 billion (approximately US$1.6 billion), will use the funds to partly repay obligations to… Read More
The Off-Grid Energy Access Fund (OGEF), an Africa-focused fund providing debt financing to companies in the household energy access sector, has reached a first close with US$58 million in capital commitments. Investors in the fund, which will be managed by investment advisory and asset management group Lions Head Global Partners,… Read More
Mexico-focused private equity fund manager EMX Capital has agreed to fully exit Mexico-based specialized cargo transportation company Autotransportes El Bisonte, selling its controlling stake to Mexico-listed transportation company Grupo Traxion. EMX originally invested in Bisonte through EMX Capital Partners I in 2014. Financial details of the transaction, which is subject… Read More
Global private equity fund manager Advent International, which agreed to acquire an 80 percent stake in Walmart Brasil in June 2018, has agreed to invest BRL1.9 billion (approximately US$463 million) in the company’s existing operations across three installments. Advent, which completed the first capital increase of BRL750 million (approximately US$183… Read More
Fincare Business Services, the India-based promoter of Fincare Small Finance Bank (SFB), has raised INR950 million (approximately US$13.5 million) from existing investors through a rights issue. Participants in the round include private equity fund managers True North, TA Associates, LeapFrog Investments and Tata Capital, with the latter investing through Tata… Read More
Asia-focused alternative asset manager Baring Private Equity Asia (BPEA) has partially exited India-listed IT services company Hexaware Technologies, selling an 8.4 percent stake in the company for INR11.2 billion (approximately US$160 million) on the National Stock Exchange of India. After the sale, BPEA retains a 63 percent stake in Hexaware… Read More
Private investment firm DST Global has led a US$200 million Series D round for Maimai, a China-based professional networking platform. Existing investors IDG Capital, DCM and Morningside Venture Capital also participated in the round. The company reportedly plans to hold an IPO in the United States and expand overseas in… Read More
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