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Brazil’s Patria-backed Lavoro To List on Nasdaq via SPAC Merger
Lavoro, a Brazil-based agricultural inputs retailer backed by Patria Investments, agreed to list on the Nasdaq through a SPAC merger with TPB Acquisition Corporation I, sponsored by investment holding company The Production Board (TPB), at an implied enterprise value of ~USD1.2b. The merger will include a USD180m contribution by the SPAC and an additional USD100m private placement with TPB. Read… Read More
AfricInvest and Novastar Ventures Lead USD10m Series A for Kenya’s Turaco
AfricInvest, through its Cathay AfricInvest Innovation Fund, and Novastar Ventures led a USD10m Series A for Turaco, a Kenya-based insurance and credit solutions platform, with participation from Enza Capital, Global Partnerships, Zephyr Acorn, Operator Stack, Asi Ventures and Push Ventures. Read More
Colombia’s RappiPay Secures USD11m Syndicated Credit Line from Bancolombia, Others
RappiPay, a Colombia-based payments platform joint venture between Rappi and Banco Davivienda, secured a USD11m syndicated credit line from Bancolombia, Banco de Bogotá, Davivienda and Itau. Read More
Dragon Ball Capital and Genbridge Capital Lead ~USD86m Series A for China’s Xueji Chaohuo
Dragon Ball Capital and Genbridge Capital led a CNY600m (~USD86m) Series A for Xueji Chaohuo, a China-based retailer of roasted seeds and nuts. Read More
Jeneration Capital Leads USD10m+ Series A for China’s Vesoft
Jeneration Capital led a USD10m+ Series A for Vesoft, a China-based open-source graph database developer, with follow-on from Matrix Partners, Red Dot Ventures and Source Code Capital. Read More
Everstone Capital Acquires India’s Softgel Healthcare
Everstone Capital acquired a controlling stake in Softgel Healthcare, an India-based niche dosage manufacturer specializing in global nutraceutical, pharmaceutical and over the counter drugs, for an undisclosed amount at a reported USD125m valuation. Read more here and h Read More
KASZEK and Y Combinator Leads USD5m Investment for Mexico’s DolarApp
KASZEK and Y Combinator led a USD5m investment for DolarApp, a Mexico-based fintech that allows users to open a bank account converting Mexican pesos to dollar stablecoin USD Coin (USDc), with participation from a group of over 50 angel investors. Read More
Mexico’s Naya Homes Raises USD5.6m Seed Round From Carao Ventures, Clocktower Technology Ventures, Others
Naya Homes, a Mexico-based short-term and vacation rental platform, raised a USD5.6m seed round from Carao Ventures, Clocktower Technology Ventures, Flybridge Capital Partners, Primary Venture Partners, K50 Ventures and Derive Ventures. Read More
Almaz Capital Leads USD25m Series A for Bulgaria’s Alcatraz AI
Almaz Capital led a USD25m Series A for Alcatraz AI, a Bulgaria-based security solutions provider using facial recognition, with participation from EBRD, Endeavor Catalyst, Silverline Capital and Golden Seeds, and follow-on from JCI Ventures, Ray Stata and LDV Partners. Read More
China’s Worg Pharmaceuticals Raises ~USD58m Series B Led by Junson Capital, Lapam Capital, Kaitai Capital, Puhua Capital and Anji Ruixing Capital
Worg Pharmaceuticals, a China-based biopharmaceutical company developing allergy and autoimmune treatments, raised a CNY400m (~USD58m) Series B led by Junson Capital, Lapam Capital, Kaitai Capital, Puhua Capital and Anji Ruixing Capital. Read More
Warburg Pincus and Gávea Investimentos Partially Exit Brazil’s Grupo GPS for ~USD106m
Warburg Pincus and Gávea Investimentos partially exited Brazil-listed facilities company Grupo GPS for BRL546m (~USD106m). Warburg and Gavea maintain ~5% and ~1% stakes in the company, respectively. Read More
KKR Leads Investment in China’s Ruichen Pet Hospital
KKR led an investment in Ruichen Pet Hospital, a China-based veterinary hospital chain, with follow-on from Firstred Capital, for an undisclosed amount. Read More