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Kedaara Capital Acquires Sunbeam Auto (Asia)
India-focused private equity fund manager Kedaara Capital has acquired India-based auto component manufacturer Sunbeam Auto at a reported enterprise value of INR8.5 billion (approximately US$127 million) to INR9 billion (approximately US$134 million). The company designs, manufactures and sells automotive aluminum die casting components. Read More
Australis Partners to Invest in Grupo Vitalmex (Latin America)
Latin America-focused private equity fund manager Australis Partners has agreed to acquire a minority stake in Mexico-based medical services provider Grupo Vitalmex. Vitalmex’s activities span integrated surgical support services, inventory management, medical equipment outsourcing and maintenance, as well as the supply and sale of instruments, materials and disposables to over 200 hospitals in Mexico. Financial details of the transaction were… Read More
Bain Capital- and Piramal-backed India Resurgent Fund Invests US$119 Million in Archean Chemical (Asia)
India Resurgent Fund (IRF), a joint venture between Bain Capital Credit and India-based conglomerate Piramal Enterprises, has invested INR8 billion (approximately US$119 million) in India-based Archean Chemical Industries in a debt and equity transaction. IRF has reportedly acquired the existing loans of Archean from a group of public sector banks to help the company restructure its cash flows and will… Read More
Mekong Capital Invests in Vua Nem (Asia)
Vietnam-focused private equity fund manager Mekong Capital has invested in Vietnam-based mattress and bedding retailer Vua Nem through Mekong Enterprise Fund III. With Mekong’s support, Vua Nem plans to merge its two existing brands, Dem.vn and Vuanem.vn, into the unified Vua Nem brand, build a new e-commerce website and expand its network from 40 stores to 300 stores. Financial details… Read More
Middle East Venture Partners Invests in Eat (MENA)
Middle East Venture Partners (MEVP) has invested in Bahrain-based real-time restaurant reservation platform Eat. The company offers restaurants an online reservation and table management system that enables users to reserve tables online. Financial details of the transaction were not disclosed. Read More
Warburg Pincus to Invest US$105 Million in IndiaFirst Life Insurance (Asia)
Global private equity fund manager Warburg Pincus has agreed to acquire a 26 percent stake in IndiaFirst Life Insurance from U.K.-based financial services provider Legal & General Group for INR7.1 billion (approximately US$105 million). Legal & General, Bank of Baroda and Andhra Bank founded IndiaFirst in 2009 as a joint venture. The latter two institutions will retain 44 percent and… Read More
Ijara Capital Partners Acquires Quick Foods (Asia)
Pakistan-focused Ijara Capital Partners has acquired a 100 percent stake in Pakistan-based frozen food company Quick Foods Industries. The company principally operates under the Mon Salwa brand, offering a range of frozen meatballs, kebabs, burger patties and nuggets. Financial details of the transaction, which is the first completed by Ijara’s Pakistan Emerging Markets Fund, were not disclosed. Read More
Ashburton Mezzanine Fund I Reaches US$40 Million First Close (Sub-Saharan Africa)
Africa-focused investment manager Ashburton Investments has reached a first close for its inaugural mezzanine fund with ZAR507.5 million (approximately US$40 million) in capital commitments from four undisclosed investors. Ashburton Mezzanine Fund I, which is targeting ZAR1 billion (approximately US$79 million) in total commitments, will focus on South Africa with an allocation of up to 20 percent for investments in Botswana,… Read More
SenseTime Raises US$620 Million Series C+ Round from Hopu, Tiger Global and Others (Asia)
China-based artificial intelligence company SenseTime has raised a US$620 million Series C+ round valuing the company at more than US$4.5 billion. Investment firms Fidelity International, Hopu Investment Management, Silver Lake and Tiger Global Management led the round, which also included participation from Qualcomm Ventures and other financial and strategic investors. SenseTime plans to use the new capital to invest in… Read More
CredRight Raises US$1.3 Million from Accion Venture Lab, YourNest and Others (Asia)
Accion Venture Lab, the seed-stage investment vehicle of financial inclusion-focused investor Accion, India-focused venture capital fund manager YourNest and several angel investors have jointly invested INR90 million (approximately US$1.3 million) in India-based fintech startup CredRight. CredRight provides credit to unserved and underserved micro-, small- and medium-sized enterprises. The company partners with chit funds, which use a reverse auction process to… Read More
Zynga Acquires Hummingbird Ventures-backed Gram Games for US$250 Million (CEE and CIS)
U.S.-listed social game developer Zynga has acquired Turkey-based mobile game developer Gram Games, which is backed by Hummingbird Ventures, for US$250 million in cash. Zynga will also pay a three-year earn-out if Gram Games meets undisclosed financial targets. Hummingbird Ventures originally invested in Gram Games in 2012, when the company was founded. Read More
Mid Europa to Invest in JS Hamilton (CEE and CIS)
Central and Eastern Europe-focused private equity fund manager Mid Europa Partners has agreed to invest in Poland-based JS Hamilton, a testing, inspection and certification company engaged in food, non-food, fuel and environmental testing, as well as cargo and engineering inspection. With Mid Europa’s support, JS Hamilton plans to broaden its service portfolio and seek new customers through national and international… Read More