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Gulf Capital Acquires Controlling Stake in Online Nutritional Supplement Retailer Sporter.com (MENA)
Middle East-focused alternative investment firm Gulf Capital has acquired a controlling stake in Sporter.com, an online retailer of sports and nutrition supplements operating primarily in Gulf Cooperation Council (GCC) countries. The company will use the investment the enter new markets and further expand its portfolio of businesses. Financial details of the transaction were not disclosed. Read More
Long Hill Capital Management Reaches Final Close for Debut Fund with US$125M in Commitments (Asia)
China-focused venture capital firm Long Hill Capital Management has reached a final close for Long Hill Capital Venture Partners 1 with US$125 million in capital commitments. The fund will focus on early-stage investments in technology-enabled health care and consumer services companies in China. Investors in the fund include global venture capital firm New Enterprise Associates, development finance institution International Finance… Read More
Accion Venture Lab Exits Varthana (Asia)
Accion Venture Lab, the seed-stage investment vehicle of financial inclusion-focused investor Accion, has sold its stake in Varthana, an India-based provider of specialized loans and support to private schools, to an undisclosed investor. Accion Venture Lab originally invested in Varthana in May 2013. Financial details of the transaction were not disclosed. Read More
LeapFrog Investments Partially Exits IFMR Capital (Asia)
Emerging markets specialist private equity investor LeapFrog Investments has partially exited its stake in IFMR Capital, an India-based provider of capital market access to financial institutions serving low-income consumers. The exit is part of a larger deal in which Eight Roads Ventures, the proprietary investment arm of United States-based Fidelity International, will invest up to US$25 million in the company.… Read More
FIR Capital BZPlan Partially Exits Myreks (Latin America)
FIR Capital BZPlan, a partnership between Brazil-focused private equity firms FIR Capital Partners and BZPlan, has partially exited Myreks, a Brazil-based online platform for recommending e-commerce products, through the sale of a 10 percent stake. The transaction was part of a larger deal in which Brazil-based corporate management solutions developer Grupo Nexxera acquired a 40 percent stake and United States-based… Read More
American Capital Energy & Infrastructure Exits Four Energy Companies (Asia)
American Capital Energy & Infrastructure (ACEI) has exited all of its energy investments, which comprise holdings in four companies: Nigeria-based Azura Power Holdings, Senegal-based Taiba Ndiaye Wind Project, Jamaica-based BMR Energy and Indonesia-based Ankora Hydro. Global growth markets investor Actis acquired ACEI’s stake in Azura, and Actis’s portfolio company Lekela Power acquired ACEI’s co-development rights and sole rights to invest… Read More
Adenia Partners Completes US$199 Million First Close for Adenia Capital IV (Sub-Saharan Africa)
Adenia Partners, a private equity fund manager focused on growth capital investments and mid-cap buyouts in Sub-Saharan Africa, has reached a first close for Adenia Capital IV with EUR180 million (approximately US$199 million) in capital commitments. The fund, which is targeting EUR200 million (approximately US$221 million) in total commitments, will primarily invest in mid-market companies in the consumer goods, business… Read More
Venture Capital-backed Betta Pharmaceuticals Raises US$106 Million in IPO (Asia)
Betta Pharmaceuticals, a China-based drug developer backed by Lilly Asia Ventures (LAV), Shenzhen Cowin Venture Capital and China Everbright, raised CNY720 million (approximately US$106 million) in its IPO on the Growth Enterprise Market Board of the Shenzhen Stock Exchange, selling 41 million shares for CNY17.57 (approximately US$2.59) per share. LAV, Shenzhen Cowin and China Everbright did not dispose of any… Read More
General Atlantic Acquires Additional Stake in Carlyle-backed PNB Housing Finance After IPO (Asia)
Global growth equity firm General Atlantic has acquired an additional 3.38 percent stake in PNB Housing Finance, a Bombay Stock Exchange-listed loan provider, for INR5.01 billion (approximately US$75 million) following the company’s trading debut. General Atlantic first acquired shares worth US$7 million in the company as an anchor investor in its IPO, concluded in late October 2016, in which PNB… Read More
EBRD Participates in US$3.2 Million Series A Round for GoOpti (CEE and CIS)
The European Bank for Reconstruction and Development (EBRD), along with Europe-focused venture capital firms RTA Ventures and Point Nine Capital, has participated in a EUR2.9 million (approximately US$3.2 million) Series A round for GoOpti, a Slovenia-based ride-sharing platform for shuttle bus services. In conjunction with the investment, the company also received a EUR1.5 million (approximately US$1.7 million) grant from the… Read More
Alkhabeer Capital Acquires Majority Stake in Rihab Al-Maarifa Company (MENA)
Asset management and investment banking firm Alkhabeer Capital has acquired a majority stake in Saudi Arabia-based K-12 education provider the Rihab Al-Maarifa Company. The company plans to use the investment to improve efficiency and implement new programs in order to strengthen its position in the Saudi Arabian education market. Financial details of the transaction were not disclosed. Read More
HarbourVest Partners Reaches US$4.77 Billion Final Close for Dover Street IX (Global)
Global private markets asset manager HarbourVest Partners has reached a final close for secondaries fund Dover Street IX with US$4.77 billion in capital commitments. The fund will focus on acquiring fund interests across different stages, geographies and investment years. Investors in the fund include corporations, pension funds, endowments, foundations and high-net worth individuals. Read More