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IDG Ventures India and Accel Partners Invest US$3 Million in Bizongo (Asia)
Venture capital firms IDG Ventures India and Accel Partners have made a US$3 million Series A investment in India-based Smartpaddle Technology, the owner of business-to-business packaging materials marketplace Bizongo. The company plans to use the funds to expand its seller base, build automation, improve its supply chain and strengthen its technology and operations teams. Accel is an existing shareholder in… Read More
IK Investment Partners Agrees to Sell Axtone Group (CEE and CIS)
Pan-European private equity firm IK Investment Partners has agreed to sell Poland-based railway components manufacturer Axtone Group to U.S.-based industrial engineering and manufacturing company ITT. IK originally invested in Axtone through its IK 2004 Fund. The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the first quarter of 2017. Financial details of… Read More
Qiming Venture Partners Reaches Final Close for its Fourth RMB Fund (Asia)
China-focused venture capital firm Qiming Venture Partners has reached a final close for its fourth RMB fund with CNY1.5 billion (approximately US$222 million) in capital commitments. Investors in the fund include CDB Capital, Oriza Holdings, Gopher Asset Management, Pingan Wealth and high net worth individuals. Qiming Venture Partners targets opportunities in the technology, media, consumer, health care and clean energy… Read More
Convergence Ventures Reaches US$30 Million Final Close for Debut Fund (Asia)
Indonesia-focused early-stage venture capital firm Convergence Ventures has reached a final close for its Convergence Capital Fund I with US$30 million in capital commitments. The firm, formerly known as Convergence Accel, plans to make around 30 investments from the fund, which will target companies focused on disruptive digital and mobile internet opportunities. Read More
Samena Capital Leads Series B Investment in Anghami (MENA)
Samena Capital, a principal investment group focused on the Indian subcontinent, the Middle East and North Africa, has led a Series B investment round for Lebanon-based music streaming platform Anghami. United Arab Emirates-based telecommunications service provider du also participated in the round and signed a commercial agreement to bundle the two companies’ products. Anghami will use the funds for song… Read More
responsAbility Leads US$1.5 Million Debt Round for PEG Africa (Sub-Saharan Africa)
Development finance-focused asset manager responsAbility Investments has led a US$1.5 million debt financing round for Ghana-based pay-as-you-go solar energy provider PEG Africa. Social investor Oikocredit and solar energy-focused crowdfunding platform SunFunder also participated in the round. The investment will be used to fund the purchase of solar home systems intended to reach 75,000 people in Ghana. Read More
CITIC Capital Partners Exits King Koil in Sale to Advent International (Asia)
CITIC Capital Partners, the China-focused private equity arm of CITIC Capital, has completed the sale of its controlling stake in China-based mattress manufacturer and retailer King Koil Shanghai Sleep System to global private equity firm Advent International. CITIC Capital Partners originally acquired the company in June 2014 through CITIC Capital China Partners II. Financial details of the transaction were not… Read More
KKR- and Baring Private Equity Asia-backed COFCO Meat Raises HKD1.95 Billion in IPO (Asia)
COFCO Meat, a subsidiary of China-based agricultural conglomerate COFCO Group backed by KKR and Baring Private Equity Asia, has raised HKD1.95 billion (approximately US$251 million) in its IPO on the Hong Kong Stock Exchange. The company sold 975.6 million shares for HKD2 (approximately US$0.26) a share. KKR and Baring Private Equity Asia did not dispose of any shares but had… Read More
Flint Atlantic Capital Partners & Polaris Partners Invest in Africa Healthcare (Sub-Saharan Africa)
Africa-focused health care impact investment firm Flint Atlantic Capital Partners and global health care venture capital firm Polaris Partners have invested in Rwanda-based dialysis and kidney care services provider Africa Healthcare Network. The company will use the funds for expansion in Rwanda and across the region. Financial details of the transaction were not disclosed. Read More
Warburg Pincus Invests US$75 Million in Rivigo, Announces Joint Venture with 21Vianet (Asia)
Global private equity firm Warburg Pincus has invested US$75 million for a minority stake in India-based transportation logistics company Rivigo. The company will use the funds to expand operations and improve technology. Separately, Warburg Pincus announced a joint venture with China-based internet data center services provider 21Vianet to acquire and develop data centers in China. The joint venture will initially… Read More
Private Equity-backed Alliar Raises BRL766 Million in IPO (Latin America)
Brazil-based medical diagnostic company Centro de Imagem Diagnosticos (Alliar) has raised a total of BRL766 million (approximately US$243 million) in its IPO on Novo Mercado, a segment of BM&F BOVESPA. Alliar is backed by Brazil-focused private equity firm Patria Investimentos and Kinea, the alternative asset management arm of Brazil-based bank Itau Unibanco. Kinea disposed of shares in the offering, while… Read More
PAG Asia Capital to Invest in Paradise Group Holdings (Asia)
PAG Asia Capital, the private equity arm of Asia-focused alternative investment management firm PAG, has agreed to invest in Singapore-based restaurant operator Paradise Group. Founded in 2008, Paradise Group runs more than 60 outlets in Southeast Asia, China, Hong Kong, Japan, Dubai and the United Kingdom. Financial details of the transaction were not disclosed. Read More