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Equator Capital Partners Invests in MFS Africa (Sub-Saharan Africa)
Impact investment fund manager Equator Capital Partners has invested in pan-African fintech company MFS Africa through ShoreCap III. MFS Africa offers merchants, banks, mobile operators and money transfer companies access to over 170 million mobile wallets through its digital payments hub. Financial details of the transaction were not disclosed. Read More
Jaguar Arranges US$77 Million in Financing for LatAm Logistic Properties (Latin America)
Real estate investment and development company LatAm Logistic Properties (LLP) has raised US$77 million in new funding arranged by real estate-focused emerging markets investment firm Jaguar Growth Partners. The transaction was structured as a co-investment from new and existing institutional investors. LLP operates Class A warehouse and logistics facilities in Costa Rica, Peru and Colombia and currently has over 1… Read More
Darby Latin American Private Debt Fund III Reaches US$300 Million Final Close (Latin America)
Darby Private Equity, the private equity and mezzanine arm of Franklin Templeton Investments, has reached a final close for Darby Latin American Private Debt Fund III, reaching its hard cap of US$300 million. Institutional investors from Europe, Asia, the United States and Latin America committed to the fund. The fund invests in middle-market companies across the region through senior-secured debt… Read More
Gaw Capital Raises US$1.95 Billion for Sixth Fund and Co-investment (Asia)
Real estate-focused private equity fund manager Gaw Capital Partners has reached a first close for Gateway Real Estate Fund VI with US$1.3 billion in capital commitments and raised a further US$650 million for co-investment opportunities. Approximately 50 percent of the new fund will be invested in Greater China while the remaining half will be invested in select Asian markets, including… Read More
Injaro Invests in Novafrique (Sub-Saharan Africa)
West Africa-focused private investment fund manager Injaro Investments has invested in Côte d’Ivoire-based soap manufacturer Novafrique Industries. The company plans to partner with Injaro to optimize utilization of its current facilities and improve profitability. Financial details of the transaction were not disclosed. Read More
Novastar Reaches US$72.5 Million First Close for Second Venture Fund (Sub-Saharan Africa)
Africa-focused venture capital fund manager Novastar Ventures has reached a first close for Novastar Ventures Africa Fund II with US$72.5 million in capital commitments. Investors in the fund include AXA, CDC Group, FMO, the European Investment Bank and the Dutch Good Growth Fund. Novastar’s second fund, which is targeting US$120 million in total commitments, will invest in early- and growth-stage businesses across East Africa and West Africa. The expansion of Novastar’s remit to West Africa follows the establishment of a new… Read More
Nexxus Capital and Alta Growth Capital to Invest in Grupo Turistore (Latin America)
Mexico-focused private investment fund managers Nexxus Capital and Alta Growth Capital have agreed to invest in Mexico-based retailer Grupo Turistore. Nexxus will invest through Nexxus Capital VI. Grupo Turistore operates 56 stores across Mexico, focusing on key beach destinations for tourists. Financial details of the transaction, which is subject to regulatory approval, were not disclosed. Read More
Zebra Global Capital Closes Second Fund (Asia)
Asia-focused private equity fund manager Zebra Global Capital has reportedly reached a final close for its second fund, bringing the firm’s total assets under management to approximately US$2 billion. The size of the new fund, which received commitments from U.S.-based university endowments, the Hillhouse Foundation and Tencent Holdings, was undisclosed. Zebra closed its first fund at US$800 million last year. Read More
Airtel Africa to Raise US$1.25 Billion from Consortium of Investors (Sub-Saharan Africa)
Airtel Africa, a unit of India-based telecommunications group Bharti Airtel, has agreed to raise US$1.25 billion via new share subscriptions from a consortium of investors including global private equity fund manager Warburg Pincus, Singaporean sovereign wealth fund Temasek Holdings and corporate investors Singapore Telecommunications and SoftBank Group. Airtel Africa will use the funds to pare down its debt and expand… Read More
DPI Acquires 20 Percent Stake in Dolidol for US$30 Million (MENA)
Pan-African private equity fund manager Development Partners International (DPI) has acquired an approximately 20 percent stake in Morocco-based Dolidol for US$30 million. Dolidol manufactures and distributes foam, mattress and bedding products in Morocco and Côte d’Ivoire. The company plans to partner with DPI to grow its business in West Africa. DPI invested through African Development Partners II Read More
StoneCo Raises US$1.2 Billion in IPO (Latin America)
Brazil-based payments and financial technology company StoneCo has raised US$1.2 billion in its initial public offering (IPO) on NASDAQ. The offering included 46 million newly issued shares and a secondary offering of 5 million shares sold for US$24 per share. gStoneCo is backed by various investors, including private investment fund managers Actis, Tiger Global Management, Gávea Investimentos and Valor Capital… Read More
JSW Steel Acquires Dolvi Minerals for US$15 Million from SCPE and Others (Asia)
India-based steel manufacturer JSW Steel has increased its stake in India-based minerals trading company Dolvi Minerals and Metals from 60 percent to 100 percent, acquiring stakes from existing investors including Standard Chartered Private Equity (SCPE) for INR1.09 billion (approximately US$15 million). Dolvi Minerals is a trader, wholesaler and retailer of metallic and non-metallic minerals, including coal, lignite and iron steel… Read More