Bain Exits Brazilian Medical Conglomerate in USD709m Secondary Offering; CICC, Matrix Partners, Shenzhen, & Others in USD376m Pre-IPO Round for Chinese Satellite Developer
A weekly newsletter on private capital in emerging markets
Is this email not displaying correctly?
View it in your browser.

8-9 December 2020 | Member Program Recap | Industry News | Programming | EMPEA Data 


Member Program Recap


Access Recording: Learning from Practitioners: GP-Led Secondaries

19 November 2020 | Virtual Meeting in Review 

Thank you to the EMPEA member GPs who participated in the recent virtual program: Learning from Practitioners: GP-Led Secondaries.

The current crisis has sparked increased interest in secondaries as a solution for liquidity. This practical training program took an in-depth look at these complex transactions, current and anticipated trends, and key considerations for GPs. 

During Part I of this virtual meeting Lexington Partners and Evercore shared a deep dive into global market trends in secondaries. In Part II, experts from Debevoise & Plimpton addressed processes around how secondaries work in practice, with an interactive discussion from EMPEA member GPs.

EMPEA members can access a recording of the session using their EMPEA login here.

 

 

Bain Capital Exits Brazilian Medical Conglomerate Notre Dame Intermedica for USD709m in Secondary Offering

Region: Latin America

Bain Capital has sold 54m shares in Brazilian medical conglomerate Notre Dame Intermedica for BRL3.75b (approximately USD709m) in a secondary offering. Read more

CICC, Haitong, Shenzhen Capital, Matrix Partners, Others Invest USD376m Pre-IPO Round for Chinese Satellite Developer Chang Guang

Region: Asia

CICC Capital, Haitong Innovation, Rosefinch Investments, Matrix Partners China, Shenzhen Capital Group, Estar Capital, Shanda Capital, CAS Star, and startup iFlytek invested a CNY2.46b (approximately USD376m) pre-IPO round for China-based commercial satellite developer Chang Guang Satellite Technology. Existing backers Jilin Province Guidance Fund and Chenrui Tech re-upped. Read more

CDH Reaches USD228m First Close for China Industry Data Center Fund

Region: Asia

CDH Investments has reached a USD228m first close for its debut industry data center vehicle, a sub-fund under the CDH Mezzanine and Credit Fund. The vehicle, which has an initial target of CNY2b (approximately USD304m), will invest in data center projects across China. Read more

Baring PE Leads USD198m Series D for Chinese Edtech Codemao

Region: Asia

An affiliate of Baring Private Equity Asia led a USD198m Series D financing for Codemao, a China-based edtech focused on coding, with participation from a range of state-owned players and investment firms. Read more

Victory Park Provides USD100m Debt to Indonesian Digital Credit Platform Kredivo

Region: Asia

Victory Park Capital has provided a debt facility of up to USD100m to Kredivo, an Indonesia-based digital credit platform for retail borrowers. Read more

AIIM Completes USD80m Capital Increase for AIIF3

Region: Africa

African Infrastructure Investment Managers (AIIM) has completed a USD80m capital increase for AIIF3, its pan-Africa infrastructure fund, bringing the total capital committed to the vehicle to USD400m. Read more

DST Global Leads USD80m Series C for Indian Fintech Cred

Region: Asia

DST Global led a USD80m Series C for CRED, an India-based fintech helping credit card users manage their finances, with follow-on from Sequoia Capital and Ribbit Capital. Read more

Climate Fund Managers to Provide USD40m in Financing to Develop Senegal’s Niakhar Project

Region: Africa

Climate Fund Managers has agreed to provide up to USD40m in financing via the Climate Investor One’s Construction Equity Fund to support the development of the Niakhar Project, a solar power plant with an associated battery storage system in Senegal, as part of a joint development agreement with Energy Resources Senegal. Read more

KV Asia Exits Malaysian Grocery Retailer TF Value Mart via Sale to ICG

Region: Asia

KV Asia Capital has fully exited Malaysia-based grocery retailer TF Value Mart via a sale to Intermediate Capital Group (ICG) for an undisclosed amount.  Read more

Criterion Africa Partners Exits Ugandan Timber Plantation Global Woods to Nile Fibrewood

Region: Africa

Criterion Africa Partners has exited Uganda-based timber plantation Global Woods via a sale to Nile Fibrewood for an undisclosed amount. Read more

Finch Capital Leads Undisclosed Investment in Indonesian Fintech Pintek

Region: Asia

Finch Capital led an undisclosed investment in Pintek, a fintech providing credit to students and education institutions in Indonesia, with participation from Accion Venture Lab and unnamed angel investors. Read more

BRI Ventures Reaches USD10.6m First Close for Indonesia Tech Venture Fund

Region: Asia

BRI Ventures has reached a USD10.6m first close for Sembrani Nusantara, a tech venture fund focused on early-stage investments in MSMEs operating in the education, agro-maritime, retail, transportation, and health care sectors in Indonesia. Read more

Ethos Sells 1.4% Stake in UAE’s Fintech Channel VAS to Convergence for USD5m

Region: Middle East

Ethos Capital has sold a 1.4% stake in Channel VAS, a UAE-based provider of airtime credit services and mobile financial solutions across emerging markets, to Convergence Partners for USD5m. Ethos retains a 8.89% stake in the company. Read more

I Squared-Backed Cube Highways to Acquire India’s Chenani Nashri Tunnelway from IL&FS for USD598m

Region: Asia

I Squared Capital-backed Cube Highways and Infrastructure has agreed to acquire the Chenani Nashri Tunnelway in India from Infrastructure Leasing & Financial Services (IL&FS) for INR39b (approximately USD598m). Read more

Toesca Reaches USD310m Close for Toesca Deuda Privada DIP LATAM

Region: Latin America

Toesca has reached a USD310m close for Toesca Deuda Privada DIP LATAM, a fund aimed at financing the restructuring of Chile-based regional carrier LATAM Airlines, which filed for bankruptcy in May 2020. Read more

Harith General Partners and Pembani Remgro Invest in USD296m Zimbabwe Border Post Project

Region: Africa

Harith General Partners and the Pembani Remgro Infrastructure Fund are investing an undisclosed amount in Zimborders Mauritius, an entity set up to develop the USD296m Zimbabwe Beitbridge border post complex.  Read more

Providence Equity Partners Sells Bharti Infratel Stake to Bharti Airtel for USD225m

Region: Asia

Providence Equity Partners has sold its stake in Bharti Infratel, the telecom tower infrastructure unit of India-based telco Bharti Airtel, to Nettle Infrastructure Investments, a subsidiary of Bharti Airtel, for INR16.6b (approximately USD225m). Read more

Alibaba and Jeneration Capital Lead USD196m Series C3 for Chinese E-Commerce Platform Nice Tuan

Region: Asia

Alibaba and Jeneration Capital led a USD196m Series C3 for Nice Tuan, a Chinese community-based e-commerce platform for fresh produce and household products, with participation from Kunlun Capital, China Capital Investment Group, CDH Investments, GGV Capital, Joy Capital, Qiming Venture Partners, Ince Capital, and Cygnus Equity. Read more

AIIB Seeds Newly Launched ADM Renewable Energy Fund with USD100m Commitment

Region: Asia

The Asian Infrastructure Investment Bank (AIIB) has committed USD100m to ADM Capital to seed ADM Capital Elkhorn Emerging Asia Renewable Energy Fund, a new USD-denominated private debt fund focused on renewable energy investments in Asia. Read more

3W Fund Management Leads USD43m Series E for Chinese Drug Developer CANbridge Pharma

Region: Asia

3W Fund Management led a USD43m Series E for China-based drug developer CANbridge Pharmaceuticals, with participation from Casdin Capital, Summer Capital, SPDBI, and Yaly Capital, and follow-on from Hudson Bay Capital, RA Capital, Lyfe Capital, and Tigermed. Read more

Riverwood Invests USD32m in Brazilian E-Commerce and Omnichannel Logistics Company Intelipost

Region: Latin America

Riverwood Capital has invested USD32m in Intelipost, a Brazil-based e-commerce and omnichannel logistics tech company. Intelipost also announced a merger with Brazil-based logistics technology startup AgileProcess. Read more

Kinea Acquires Minority Stake in Brazilian Security and Cleaning Services Company Verzani & Sandrini for USD28m

Region: Latin America

Kinea has acquired a minority stake in Verzani & Sandrini, a Brazil-based security, maintenance, and facilities management company, for BRL150m (approximately USD28m). Read more 

3TS-Backed Catalyst Romania Reaches First Close for Second VC Fund

Region: CEE & CIS

3TS Capital Partners-backed Catalyst Romania has reached a first close of at least USD15m for Catalyst Romania Fund II, its second VC fund. The vehicle, which targets USD40-50m, will invest in TMT companies operating in Romania. Read more

FMO and EAV Invest USD2.4m in Chad’s Electrification Company ZIZ Energie

Region: Africa

FMO, through its Ventures Program, has signed an EUR500k (approximately USD598k) convertible note to Chad-based power and electrification company ZIZ Energie as part of a EUR2m (approximately USD2.4m) convertible round in a co-investment with Energy Access Ventures (EAV). Read more

EXEO Capital Invests in Kenyan Ice Cream & Chocolate Brand Glacier Products

Region: Africa

EXEO Capital, through its Agri-Vie Fund II, has invested an undisclosed amount in Glacier Products, the Kenya-based producer of ice-cream and chocolate brand Dairyland. The transaction is subject to regulatory approvals. Read more

monashees Leads USD5m Series A for Brazilian Coffee Chain The Coffee

Region: Latin America

monashees led a BRL28m (approximately USD5m) Series A for Brazil-based coffee chain The Coffee, with participation from Norte Ventures and Shift Capital. Read more
Programming

Global Private Equity Conference 2021 | 17-20 May 2021

Registration coming soon
 

Singapore FinTech Festival (SFF) | 7-11 December 2020

 
Latest EMPEA Data & Intelligence
EMPEA’s Mid-Year 2020 Global Private Capital Industry Data & Statistics*
2020 YTD Trends in VC+Tech Dealmaking
2020 Global Limited Partners Survey
Legal & Regulatory Bulletin – Issue No. 29, June/July 2020
 Trends in Global VC+Tech

* Available to EMPEA members only

Copyright © 2020. All rights reserved.
EMPEA
 
New York
589 8th Ave, Floor 18
New York, NY 10018
 
Washington, DC
The Watergate Office Building
2600 Virginia Avenue NW, Suite 500
Washington, DC 20037
 
update subscription preferences