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CrossBoundary Raises US$16 Million for Mini-Grid Project Finance Facility
Frontier market investment firm CrossBoundary has reached a first close for CrossBoundary Energy Access, an Africa-focused project financing facility for power mini-grids, with US$16 million in capital commitments. Investors in the first close include the Rockefeller Foundation and family office Ceniarth. The facility has a blended finance structure and will initially invest in mini-grids serving 170,000 people in Tanzania, Nigeria… Read More
Colony Capital to Acquire Abraaj Group’s Latin America Private Equity Platform
Global investment manager Colony Capital has agreed to acquire the Latin American private equity platform of global growth markets investor the Abraaj Group in partnership with the platform’s existing management. The platform, which currently manages more than US$500 million, will rebrand as Colony Latam Partners and its current senior management team—including partners Miguel Angel Olea Sisniega, Hector Martinez Fry, Gerardo… Read More
Advent International to Acquire Controlling Stake in Prisma at US$1.42 Billion
Global private equity fund manager has agreed to acquire a 51 percent stake in Argentina-based payments company Prisma Medios de Pago from a group of 14 Argentine banks and global financial services provider Visa International. The company offers various point-of-sale, transaction processing and e-wallet services to merchants in Argentina and 14 countries across Latin America. The transaction, which values Prisma… Read More
Aye Finance Raises US$10 Million from responsAbility Investments and Northern Arc Capital
India-based non-banking finance company Aye Finance has raised US$10 million via non-convertible debentures from impact investment fund manager responsAbility Investments and India-based lender Northern Arc Capital. Aye will use the proceeds to bolster its business loan offerings to micro-, small- and medium-sized enterprises in India. Read More
Warburg Pincus Leads Investments in DaDa and MoMo
Global private equity fund manager Warburg Pincus has led a US$255-million Series D investment round for DaDa, a China-based K-12 online English language tutoring service. Existing investors TAL Education Company and Yonghua Capital also took part in the round. Separately, Warburg has led a Series C funding round, reportedly of US$100 million, for Vietnam-based mobile payments company MoMo. The company… Read More
Tiger Global Management Leads US$44-Million Series C Round for
Global private investment firm Tiger Global Management has led a CNY300-million (approximately US$44 million) Series C funding round for China-based software developer GaiaWorks. Existing investors Warburg Pincus and Matrix Partners also participated in the round. GaiaWorks, which provides workforce management software and cloud services to manufacturing, retail and services companies in China, will use the funds to grow operations and… Read More
LGT Impact Leads US$17-Million Investment in WayCool
WayCool Foods, an India-based food distribution platform, has raised INR1.2 billion (approximately US$17 million) in equity and debt financing from private equity impact investor LGT Impact, India-based lenders Northern Arc Capital and Caspian and unnamed angel investors. The company will use the funds to expand operations across Southern and Western India and improve its technology and supply-chain infrastructure. Read More
Cinven Agrees to Invest in RTB House
Pan-European private equity firm Cinven has agreed to invest in Poland-based digital advertising company RTB House. Through the deal, Cinven plans to help RTB House expand its global customer base, develop its technology, pursue buy-and-build acquisition opportunities and implement business best practices. Financial details of the transaction, which is subject to customary regulatory and antitrust approvals, were not disclosed. Read More
Air Premia Raises US$36 Million from Neoplux and Yuanta Investment
South Korea-based commercial air carrier Air Premia has raised KRW40 billion (approximately US$36 million) from Neoplux, the investment arm of South Korea-based conglomerate Doosan Group, and Yuanta Investment, a U.S.- and Asia-focused asset management firm. Neoplux and Yuanta have reportedly committed KRW30 billion (US$27 million) and KRW10 billion (US$9 million), respectively, to the company. Read More
Chiratae Ventures Exits Stake in Vserv Digital Services to Maverick Capital
India-focused venture capital firm Chiratae Ventures has sold a 36 percent stake in Vserv Digital Services, an India-based digital advertising company, to global hedge fund manager Maverick Capital. Vserv offers targeted mobile marketing solutions through its online platform. Chiratae first invested in the company in July 2011 through IDG Ventures India Fund I. Financial details of the transaction were not… Read More
Kinea Agrees to Purchase 48 Percent Stake in Quartier Participações
Kinea, the alternative asset management subsidiary of Brazil-based financial services group Itaú, has agreed to purchase a 48 percent stake in Quartier Participações, a Brazil-based holding company with interests in textbook publishing and digital education platforms, including Grupo A Educação. Quartier reportedly plans to use the funds to purchase shares in Artmed Panamericana Editora, a Brazil-based educational product developer, and… Read More
Patria Investments Acquires Impacto
Brazil-focused alternative asset manager Patria Investments has reportedly purchased a majority stake in Impacto, a Brazil-based agricultural input distributor. The company operates four stores, which sell farming inputs such as seeds and agrichemicals, across the state of Mato Grosso. Financial details of the transaction were not disclosed. Read More