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Creador Reaches US$430 Million First Close for Fourth Fund (Asia)
South and Southeast Asia-focused private equity fund manager Creador has reportedly reached a first close for Creador IV with US$430 million in capital commitments. The fund, which has a target of US$500 million, will invest primarily in Malaysia, India, Indonesia, Vietnam and the Philippines. Read More
SRI Capital Reaches US$40 million First Close for Debut Fund (Asia, North America)
U.S.- and India-focused venture capital fund manager SRI Capital has reportedly reached a first close for SRI Capital Fund I with US$40 million in capital commitments. Investors in the fund include the family office of SRI Capital founder Sashi Reddi, which contributed US$20 million, and U.S.-based individuals. The fund, which is targeting US$100 million in total commitments, will make early-stage… Read More
Luckin Coffee Raises US$200 Million in Series A Round (Asia)
China-based coffee shop operator Luckin Coffee has raised US$200 million in a Series A round led by Centurium Capital. GIC Private, Legend Capital and Joy Capital also participated in the round. The company, which operates 525 stores in 13 cities in China, will use the funds for product research, technology innovation and business development. Read More
Panda Capital Reaches US$105 Million Final Close for Second RMB Fund (Asia)
Panda Capital, a venture capital fund manager focused on technology, media and telecom in China, has reportedly reached a final close for its second renminbi-denominated fund with CNY700 million (approximately US$105 million) in capital commitments. Investors in the fund, which will focus on artificial intelligence, retail, mobility, entertainment, fintech and health care, include Sequoia Capital, IDG Capital, Redbud Capital and… Read More
Adansonia Corporate Finance Leads US$2.6 Million Investment in betPawa (Sub-Saharan Africa)
Africa-focused investment advisor Adansonia Corporate Finance has led a US$2.6 million investment in U.K.-based online sports betting company betPawa. The company operates primarily in Kenya, Uganda, Nigeria and Zambia and plans to expand its presence to Ghana. Several individual investors and family offices also participated in the round. Adansonia invested through Adansonia PE Opportunities. Read More
Inventus Capital Reaches US$29 Million First Close for Third Fund (Asia)
U.S.- and India-focused venture capital fund manager Inventus Capital has reportedly reached a first close for its third fund with INR2 billion (approximately US$29 million) in capital commitments. The fund, which is targeting INR3.25 billion (approximately US$47 million) in total commitments, will make Series A investments in India-based technology companies with a special focus on machine learning and artificial intelligence… Read More
ACON Investments Exits Hidrotenencias (Latin America)
U.S.- and Latin America-focused private equity fund manager ACON Investments has sold Panama-based Hidrotenencias to EnfraGen Spain, an energy-focused platform backed by U.S.-based investment firm Glenfarne Group. ACON originally invested in Hidrotenencias, which operates three run-of-the-river hydropower plants in Panama, in 2012 through ACON Latin America Opportunities Fund. Financial details of the transaction were not disclosed. Read More
JD Finance Raises US$2 Billion in New Funding Round (Asia)
A group of investors led by CITIC Capital, CICC Capital, Bank of China Group Investment and CITIC Securities has agreed to invest CNY13 billion (approximately US$2 billion) in JD Finance, the consumer credit and wealth management spinout of China-based e-commerce retailer JD.com. JD Finance spun out from JD.com in 2017 in order to become a fully Chinese-owned entity for regulatory… Read More
Elevar Equity, Omidyar Network and TPG’s Rise Fund Invest in Grupo VI-DA (Latin America)
Grupo VI-DA, an Argentina-based developer of digital education products, has raised a financing round from emerging markets-focused venture capital firm Elevar Equity, philanthropic investment firm Omidyar Network and The Rise Fund, TPG’s global impact investment private equity fund. Grupo VI-DA plans to use the new funds to further develop its existing literacy products, including the digital library platform BIDI, and… Read More
Lightspeed Venture Partners Reaches US$175 Million Final Close for Second India Fund (Asia)
Global venture capital fund manager Lightspeed Venture Partners has reportedly reached a final close for Lightspeed India Partners II with US$175 million in capital commitments from U.S.- and East Asia-based investors. The fund plans to back 25 to 30 India-based companies across a variety of sectors. While it will focus on early-stage investments, the fund expects to participate in a… Read More
XSML Backs TMR International Hospital (Sub-Saharan Africa)
Central and East Africa-focused impact investment fund manager XSML has invested in Uganda-based TMR International Hospital through the African Rivers Fund. Located in Kampala, TMR is a general hospital specializing in maternity, emergency and ear, nose and throat care. The company plans to use the new funding to expand into the health insurance market, acquire additional medical equipment and expand… Read More
Private Capital-backed Xiaomi Raises US$4.7 Billion in Hong Kong IPO (Asia)
China-based electronics producer Xiaomi—which is backed by private equity and venture capital fund managers DST Global, Hopu Investment Management, IDG Capital, Matrix Partners, Morningside Ventures, Qiming Venture Partners, Shunwei Capital Partners and Yunfeng Capital—has raised HKD37 billion (approximately US$4.7 billion) through its initial public offering on the Hong Kong Stock Exchange. The company sold 2.18 billion shares at a price… Read More