Central & Eastern Europe-focused private equity fund manager Abris Capital Partners has agreed to acquire a majority stake in Poland-based personal hygiene product manufacturer Velvet CARE. Abris will invest through Abris CEE Mid-Market Fund III. Velvet CARE will partner with Abris to expand operations in Poland and the region. Financial… Read More
South Africa-focused alternative investment fund manager Ethos has acquired a 31 percent stake in South Africa-based internet service provider Echo. The company, which provides internet connectivity and cloud computing services to corporations in South Africa, plans to partner with Ethos to grow operations in the region. Ethos invested through Ethos… Read More
Global energy and resources-focused private equity fund manager Denham Capital has established a new Africa power investment platform in partnership with project development and investment advisory firm Themis. Denham and Themis will invest up to US$250 million in equity to develop natural gas-fired and renewable power generation assets across Africa. Read More
Emerging markets specialist fund manager LeapFrog Investments has sold its stake in Ghana-based pension trustee Petra Trust to pan-African investment firm African Capital Alliance (ACA). LeapFrog originally invested in Petra in 2014 through LeapFrog Financial Inclusion Fund. ACA acquired LeapFrog’s stake through Capital Alliance Private Equity IV. Petra currently manages… Read More
Global alternative investment firm KKR has partially exited its stake in India-listed coffee shop operator Coffee Day Enterprises. KKR, which originally invested in the company in 2010, sold a total of 12.5 million shares for INR4.05 billion (approximately US$62 million) on the open market. Read More
NASDAQ-listed and China-based mobile social networking platform Momo has agreed to acquire a 100 percent equity stake in China-based social and dating application Tantan for a consideration of 5.3 million newly issued Class A ordinary shares in Momo and US$601 million in cash. Previous investors in Tantan include Genesis Capital,… Read More
Financial inclusion-focused impact fund manager Goodwell Investments has acquired an equity stake in Nigeria- and Croatia-based Oradian, a provider of digital solutions for financial institutions in frontier markets, through uMunthu Inclusive Growth Investment Fund. Oradian’s cloud-based banking platform, Instafin, currently serves more than 50 financial institutions across seven countries. Oradian… Read More
Brazil-focused private equity fund manager Portcapital has invested more than BRL3 million (approximately US$1 million) in Brazil-based flight simulation startup Virtual Avionics, through the Embraer-backed aerospace and defense vehicle Fundo Aerospacial. Virtual Avionics plans to use the funds to manufacture and market virtual cockpits for pilot training. Read More
Singapore- and India-based retail software solutions provider Capillary Technologies has raised US$20 million from a consortium including global private equity fund managers Warburg Pincus and Sequoia Capital. The round also includes a secondary investment of US$2.5 million from LionRock Capital, facilitating an exit for employees and early-stage angel investors. Capillary… Read More
India-based Hiveloop Technology, which operates business-to-business (B2B) e-commerce platform Udaan, has raised a US$50 million Series B round led by existing investor Lightspeed Venture Partners and new investor Yuri Milner, who invested through his Apoletto Fund. Lightspeed reportedly invested between US$30 million and US$35 million while Yuri Milner accounted for… Read More
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