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Innova Capital Exits Wirtualna Polska (CEE and CIS)
CEE-focused mid-market private equity firm Innova Capital has fully exited its investment in Poland-based internet portal Wirtualna Polska (WP), selling its remaining 27 percent stake for PLN50 (approximately US$11.96) per share on the Warsaw Stock Exchange. Innova Capital originally invested in WP in 2014 through Innova/5 and subsequently merged the company with Poland-based o2 Group. The exit reportedly generated an… Read More
Jungle Ventures Reaches US$100 Million Final Close for Second Fund (Asia)
Southeast Asia-focused venture capital firm Jungle Ventures has reached a final close for Jungle Ventures II with US$100 million in commitments. Investors include sovereign wealth fund Temasek Holdings, Singapore-based National Research Foundation, Germany-based Hubert Burda Media, Singapore-based consumer electronics distributor Thakral and family offices Kewalram Chanrai Group and Khoon Hong Kuok. Development finance institution International Finance Corporation also committed US$10… Read More
Accel India V Reaches US$450 Million Final Close (Asia)
Global venture capital firm Accel Partners has reached a final close for its fifth India-focused fund with US$450 million in commitments. The fund will invest in the consumer internet, enterprise software, financial technology and health care sectors. Accel reportedly plans to begin investing from the fund in early 2017. Read More
Lumos Global Raises US$90 Million from OPIC, Pembani Remgro, VLTCM and ICV (Sub-Saharan Africa)
Nigeria-based off-grid solar firm Lumos Global has raised US$90 million from development finance institution Overseas Private Investment Corporation (OPIC), Sub-Saharan Africa-focused investment firm Pembani Remgro Infrastructure Managers, VLTCM and Israeli cleantech venture specialist ICV. The new funding comprises US$50 million in debt provided by OPIC and US$40 million in equity from Pembani Remgro, VLTCM and ICV. Lumos Global will use… Read More
Lok Capital Leads US$6.6 Million Series B Round for HR Food Processing (Asia)
India-focused impact investment firm Lok Capital has led an INR450 million (approximately US$6.6 million) Series B round for India-based dairy producer HR Food Processing. Lok invested through its third fund, Growth Catalyst Partners. South- and Southeast Asia-focused impact fund advisory firm Aavishkaar also participated in the round via Aavishkaar II. HR Food Processing plans to use the funds to expand… Read More
Everbright Reinfore Leads US$102 Million Series C Round for Beijing DS365 Technology (Asia)
China-focused private equity firm Everbright Reinfore has led a CNY700 million (approximately US$102 million) Series B round for Beijing DS365 Technology, a China-based provider of supply chain management, transaction and logistics solutions for convenience stores. Financial services provider China UCF Group also participated in the round. DS365 will use the new capital to scale its business into additional Chinese cities. Read More
AfricInvest Exits Cotugrain Hortimag (MENA)
Pan-African private equity firm AfricInvest has sold its 20.06 percent stake in Tunisia-based seed, fresh vegetable and young plant producer Cotugrain Hortimag to a consortium composed of BIAT Capital Risque, the private equity arm of Tunisia-based bank BIAT, and Adel Ghariani, the company’s owner. AfricInvest originally invested in Cotugrain in 2007 through its Maghreb Private Equity Fund II. Financial details… Read More
Abris Capital Partners Acquires Graal in Delisting from Warsaw Stock Exchange (CEE and CIS)
Central & Eastern Europe-focused mid-market private equity firm Abris Capital Partners has acquired Warsaw Stock Exchange-listed fish processing company Graal through a tender offer completed in partnership with company founder Boguslaw Kowalski, who previously held a 44 percent stake in the business. Abris and Kowalski reportedly offered PLN32 (approximately US$7.65) per share for the outstanding 4.49 million shares in Graal,… Read More
NBK Capital Partners Invests in Kaumeya Language Schools (MENA)
NBK Capital Partners, a private equity and mezzanine fund manager focused on the Middle East and North Africa, has invested in Egypt-based Kaumeya Language Schools (KLS), a K-12 school established in 1959. Development finance institution European Bank for Reconstruction and Development also provided financing. KLS intends to use the new capital to expand its campus, upgrade its facilities and modernize… Read More
IMM Investment to Acquire Eco Management Korea Holdings for US$338 Million (Asia)
Korea-focused private equity firm IMM Investment has agreed to acquire Korea-based waste management and recycling services provider Eco Management Korea Holdings from JP Morgan Asset Management for KRW400 billion (approximately US$338 million). Almost half of the funding for the deal will come from IMM Investment’s blind pool fund, while the remaining will be raised through loans from financial institutions. The… Read More
Brookfield Asset Management to Acquire Odebrecht’s Olmos Concessions (Latin America)
Brookfield Asset Management and France-based industrial services and solutions company Suez have agreed to acquire Peru-based water infrastructure concessions H2Olmos and Concesionaria Trasvase Olmos from Odebrecht Latininvest, a subsidiary of Brazil-based engineering group Odebrecht. Both concessions form part of the Olmos project, which consists of a trans-Andean water transfer tunnel and related infrastructure for irrigation and hydroelectric power generation. Brookfield… Read More
Aspada Advisors and Michael & Susan Dell Foundation Invest US$1M in Shiksha Financial Service (Asia)
Aspada Advisors, an investment firm focused on small and medium-sized enterprises in India, and the Michael & Susan Dell Foundation have invested INR67 million (approximately US$1 million) in India-based school financing company Shiksha Financial Services. Aspada invested through Aspada Investment Company. Shiksha will use the new capital to launch more products, expand into new markets and provide loans to 2,300… Read More