GPCA covers the latest fund, investment and industry news across our markets in two newsletters: NewsWatch is a weekly round-up of key transactions across asset classes; the Global Tech Brief is a bi-weekly review of tech transactions and innovations with cross-border applications. Subscribe in the left-hand sidebar.

Access past editions of NewsWatch here.

Warburg Pincus Partially Exits Chinese Oncology Group Hygeia via IPO

Warburg Pincus has partially exited its 17.24% stake in China-based oncology health care group Hygeia Healthcare via the company’s IPO on the HKEX. Warburg initially invested in Hygeia in 2015 and now holds a 13.79% stake. Read More

Bain Capital to Subscribe to USD100m Convertible Bonds in China Logistics Property

China Logistics Property Holdings has agreed to issue Bain Capital Credit USD100m convertible bonds at an initial conversion price of HKD3.19 per share. The proceeds from the bonds will be used for the repayment of existing indebtedness and other general corporate purposes. Read More

IFC, IFU, and Proparco Invest USD108.5m in African Health Care Company Humania

International Finance Corporation, IFU, and Proparco have agreed to provide up to USD108.5m in equity financing to health care company Humania to help improve medical care in Morocco and Egypt. The package comprises USD45m from the IFC, USD43.5m from IFU on behalf of the Danish SDG Investment Fund, and USD20m from Proparco. Read More

CDC Commits USD100m to Helios IV and Closes USD100m Trade Finance Risk Sharing Facility with SocGen

CDC Group has made a USD100m commitment to Helios Investors IV, a pan-African fund managed by Helios Investment Partners. CDC has also closed a USD100m trade finance risk sharing facility with Société Générale. The facility will support Société Générale’s efforts to increase the limits that it currently provides to local banks and extend limits to new banks in Africa. Read… Read More

Warburg Pincus Sells Remaining Stake in Indian Pharmaceutical Company Laurus Labs for ~USD84m

Warburg Pincus has exited its remaining 11.68% stake in Mumbai-listed drugmaker Laurus Labs for USD84m. Warburg originally acquired a 32% stake in the company in 2014 and divested part of its shares through the company’s IPO in 2016 and through a recent transaction in May 2020. Read More

FMO Commits USD10m to Eco.business II Sub-Fund

FMO has approved the commitment of USD10m to Eco.business II Sub-Fund, an open ended debt fund managed by Finance-In-Motion, which will invest in ecologically sustainable businesses with a special focus on fighting deforestation in sub-Saharan Africa. Read More

FountainVest and Tiger Global Lead USD750m Series E for Chinese Edtech Zuoyebang

FountainVest and Tiger Global Management led a USD750m Series E for China-based edtech Zuoyebang, with participation from Qatar Investment Authority, Sequoia Capital China, Softbank Vision Fund I, Tiantu Capital, and Xianghe Capital. Read More

KKR Acquires 11.9% Stake in Filipino Power Developer First Gen Corp for USD192.2m

KKR has agreed to acquire an 11.9% stake in Philippines-listed power developer First Gen Corp for USD192.2m through its Singapore-based subsidiary Valorous Asia Holdings. Read More

Carlyle Acquires 20% Stake in India’s Piramal Pharma for USD490m

The Carlyle Group has agreed to acquire a 20% stake in the pharmaceutical unit of Indian conglomerate Piramal Enterprises for USD490m. Read More

IFC Provides USD50m in Financing to Equity Bank Kenya

International Finance Corporation has agreed to provide a USD50m senior loan to Kenya-based financial services provider Equity Bank Kenya under its COVID-19 Emergency Response WCS Envelope. The loan will expand the Bank’s lending operations to MSMEs in Kenya. Read More

Bond Capital Invests Undisclosed Amount in Indian Edtech Byju’s

US-based VC Bond Capital has invested an undisclosed amount in India-based edtech Byju’s, joining investors General Atlantic, Tiger Global Management, and Tencent. Read More

East Ventures Reaches First Close for Southeast Asia Seed Fund

Southeast Asia-focused VC East Ventures has reached a first close for its latest seed fund targeting USD88m. The vehicle will focus on tech investments in digital companies in Southeast Asia in the aftermath of COVID-19. Read More