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Ethos Private Equity Reaches First Close for Ethos Mid Market Fund I (Sub-Saharan Africa)
South Africa-focused private equity fund manager Ethos Private Equity has reached a first close for Ethos Mid Market Fund I with an undisclosed amount of committed capital. Investors in the fund include investment management firm Ethos Capital, which committed ZAR550 million (approximately US$38 million). The fund will seek to deploy between ZAR100 million and ZAR350 million (approximately US$6.9 million and… Read More
Gramercy Funds Management Reaches Final Close for Gramercy Distressed Opportunity Fund III (Pan-EM)
Emerging markets-focused investment manager Gramercy Funds Management has reached a final close for Gramercy Distressed Opportunity Fund III with nearly US$1 billion in capital commitments. The fund will invest opportunistically in dislocated and defaulted sovereign, quasi-sovereign and corporate credits, as well as actively short bonds and hedge long positions. To date, the fund has called 50 percent of its capital… Read More
Victoria Capital Partners Leads US$100 Million Capital Increase for Grupo Los Grobo (Latin America)
South America-focused private equity fund manager Victoria Capital Partners (VCP) has led a US$100 million capital increase for Argentina-based agribusiness and investment company Grupo Los Grobo. University of Texas Investment Management Company and development finance institutions International Finance Corporation and FMO also participated in the capital increase. Simultaneously, VCP has acquired a block of additional shares from existing shareholders in… Read More
General Atlantic Invests US$80 Million in MAP Boga Adiperkasa (Asia)
Global growth equity firm General Atlantic has subscribed to IDR1.08 trillion (approximately US$80 million) in zero-coupon bonds issued by Indonesia-based lifestyle retailer Mitra Adiperkasa (MAP), which are convertible into shares in MAP’s food and beverage subsidiary, MAP Boga Adiperkasa (MBA). MBA operates over 300 stores across 24 cities in Indonesia and will use part of the investment for network expansion.… Read More
Buran Venture Capital and Vision Plus Invest in Kopikot.ru (CEE and CIS)
Russia-based e-commerce cashback rewards platform Kopikot.ru has received an investment from venture capital firms Vision Plus and Buran Venture Capital. The investment is part of a larger deal in which Buran and Vision Plus invested EUR3.7 million (approximately US$4 million) in Bonusway, the Finland-based parent company of Kopikot.ru. Financial services companies Nordea and Finnvera also provided an EUR3.2 million (approximately… Read More
CDH Investments and CCB International Sell Stakes in Harmonicare Medical Holdings (Asia)
China-focused private equity firm CDH Investments and investments services provider CCB International have sold their stakes in Hong Kong Stock Exchange-listed hospital operator Harmonicare Medical Holdings to China-based life insurance company Taikang Insurance Group. CDH sold a 10.37 percent stake in the company for HKD514 million (approximately US$66 million) and CCB sold a 6.07 percent stake for HKD301 million (approximately… Read More
Actis Exits Stake in Power Distribution Company Umeme (Sub-Saharan Africa)
Growth markets investor Actis has sold its remaining 14.3 percent stake in Uganda Securities Exchange- and Nairobi Securities Exchange-listed power distribution company Umeme. Actis sold its shares via private placement to institutional investors, including Uganda-based private pension fund National Social Security Fund, which acquired a 7.5 percent stake and increased its overall holding in the company to 23 percent. Actis… Read More
Newly Launched EMPEA Institute Presents Sustainability & Operational Excellence Challenge Winner
The newly launched EMPEA Institute presents the winner of the 2016 Sustainability and Operational Excellence Challenge (“the Challenge”): MCap Fund Advisors. MCap was selected for its active management of Ganesha Ecosphere Ltd. by securing the most votes from a global audience of over 200 leading emerging market private capital investors convened at the EMPEA/FT Sustainable Investing in Emerging Markets leadership summit. Read the full press release » Read More
PC Capital Management &Creation Investments Make Follow-on Investment in Te Creemos (Latin America)
Private equity and investment banking firm PC Capital Management and Creation Investments Capital Management, an investment management firm with a focus on financial services, have made a follow-on investment in Mexico-based Te Creemos. The new financing will be used to support Te Creemos’s acquisition of a 100 percent stake in Financiera FINCA, the Mexico-based subsidiary of microfinance institution FINCA International.… Read More
IDG Ventures India and SAIF Partners Invest US$4 Million in PlaySimple Games (Asia)
Venture capital firms IDG Ventures India and SAIF Partners have led a INR270 million (approximately US$4 million) Series A round for India-based mobile social gaming company PlaySimple Games. The company will use the funds for game development, team expansion and marketing. IDG originally invested in the company’s seed round in 2014. Read More
Delta Partners Capital and SEQ Capital Partners Lead Investment Round in STARZ Play (MENA)
Investment and advisory companies Delta Partners Capital and SEQ Capital Partners have led an investment round in United Arab Emirates-based on-demand video streaming service STARZ Play. The company will use the funds to launch new content offerings and expand its partnerships across the MENA region. Financial details of the transaction were not disclosed. Read More
IDG Ventures India and Kalaari Capital Invest US$3 Million in Active.ai (Asia)
Venture capital firms IDG Ventures India and Kalaari Capital have invested US$3 million in Singapore-based fintech startup Active.ai, which employs artificial intelligence (AI) to deliver virtual assistant banking services. Active.ai will use the investment to expand its clientele and improve its AI technology. Read More