Indonesia-focused early-stage venture capital firm Convergence Ventures has reached a final close for its Convergence Capital Fund I with US$30 million in capital commitments. The firm, formerly known as Convergence Accel, plans to make around 30 investments from the fund, which will target companies focused on disruptive digital and mobile… Read More
Samena Capital, a principal investment group focused on the Indian subcontinent, the Middle East and North Africa, has led a Series B investment round for Lebanon-based music streaming platform Anghami. United Arab Emirates-based telecommunications service provider du also participated in the round and signed a commercial agreement to bundle the… Read More
Development finance-focused asset manager responsAbility Investments has led a US$1.5 million debt financing round for Ghana-based pay-as-you-go solar energy provider PEG Africa. Social investor Oikocredit and solar energy-focused crowdfunding platform SunFunder also participated in the round. The investment will be used to fund the purchase of solar home systems intended… Read More
CITIC Capital Partners, the China-focused private equity arm of CITIC Capital, has completed the sale of its controlling stake in China-based mattress manufacturer and retailer King Koil Shanghai Sleep System to global private equity firm Advent International. CITIC Capital Partners originally acquired the company in June 2014 through CITIC Capital… Read More
COFCO Meat, a subsidiary of China-based agricultural conglomerate COFCO Group backed by KKR and Baring Private Equity Asia, has raised HKD1.95 billion (approximately US$251 million) in its IPO on the Hong Kong Stock Exchange. The company sold 975.6 million shares for HKD2 (approximately US$0.26) a share. KKR and Baring Private… Read More
Africa-focused health care impact investment firm Flint Atlantic Capital Partners and global health care venture capital firm Polaris Partners have invested in Rwanda-based dialysis and kidney care services provider Africa Healthcare Network. The company will use the funds for expansion in Rwanda and across the region. Financial details of the… Read More
Global private equity firm Warburg Pincus has invested US$75 million for a minority stake in India-based transportation logistics company Rivigo. The company will use the funds to expand operations and improve technology. Separately, Warburg Pincus announced a joint venture with China-based internet data center services provider 21Vianet to acquire and… Read More
Brazil-based medical diagnostic company Centro de Imagem Diagnosticos (Alliar) has raised a total of BRL766 million (approximately US$243 million) in its IPO on Novo Mercado, a segment of BM&F BOVESPA. Alliar is backed by Brazil-focused private equity firm Patria Investimentos and Kinea, the alternative asset management arm of Brazil-based bank… Read More
PAG Asia Capital, the private equity arm of Asia-focused alternative investment management firm PAG, has agreed to invest in Singapore-based restaurant operator Paradise Group. Founded in 2008, Paradise Group runs more than 60 outlets in Southeast Asia, China, Hong Kong, Japan, Dubai and the United Kingdom. Financial details of the… Read More
Private equity firms Cinven, Permira and Mid Europa Partners have agreed to acquire Poland-based online marketplace Allegro Group from Johannesburg-listed internet and entertainment group Naspers for US$3.25 billion. Allegro Group, which was established in 1999, has more than 20 million registered users and carries out 14 million transactions monthly. The… Read More
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