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Hillhouse and Warburg Lead Series C Round for Mobike (Asia)
Global investment management firms Hillhouse Capital and Warburg Pincus have led a Series C round of more than US$100 million for China-based bike sharing mobile application Mobike. Venture capital firms Sequoia Capital and Qiming Venture Partners also participated in the round. Mobike was launched in December 2015 and has an estimated 200,000 registered users. Read More
DogHero Raises US$3.1 Million Round Led by monashees+ (Latin America)
Brazil-based pet-sitting marketplace DogHero has raised US$3.1 million in a new funding round led by Brazil-focused venture capital firm monashees+. DogHero previously raised seed capital in 2015 from Latin America-focused venture capital firm Kaszek Ventures. The company, which allows pet owners to find hosts willing to watch their pets, currently has 100,000 dogs registered on its platform and more than… Read More
Cauris Management Exits Atlantic Business International (Sub-Saharan Africa)
West Africa-focused private equity fund manager Cauris Management has sold its stake in Côte d’Ivoire-based banking group Atlantic Business International (ABI) to Morocco-based credit institution Banque Centrale Populaire. Cauris originally invested in ABI through Cauris Croissance II and reportedly generated a 1.7x cash multiple at exit. Separately, Cauris has sold its stake in Côte d’Ivoire-based Bridge Bank Group Côte d’Ivoire… Read More
Jacob Ballas Partially Exits India-based Vivimed Labs (Asia)
Private equity advisory firm Jacob Ballas Capital India has partially exited its investment in India-based active pharmaceutical ingredients and chemicals maker Vivimed Labs, selling an 8 percent stake on the Bombay Stock Exchange. Jacob Ballas, which originally invested through Jacob Ballas India Fund III, sold 6.5 million shares for INR10 (approximately US$0.15) each. Post transaction, Jacob Ballas holds a 5.1… Read More
The Abraaj Group Acquires Stake in Mexico-based Footwear Company Capa de Ozono (Latin America)
Global growth markets investor The Abraaj Group has acquired a minority stake in Mexico-based fashion footwear designer and retailer Capa de Ozono. Abraaj will work with the company to expand its network of stores and diversify its product categories and business lines. Financial details of the transaction were not disclosed. Read More
The Carlyle Group to Acquire Majority Stake in Amrod (Sub-Saharan Africa)
Global alternative asset manager The Carlyle Group has agreed to acquire a majority stake in South Africa-based promotional products and clothing supplier Amrod. Carlyle will invest from Carlyle Sub-Saharan Africa Fund, while the three founders of Amrod will reinvest alongside Carlyle. Financial details of the transaction, which is expected to close in 2016 and is subject to regulatory approvals, were… Read More
Global Capital Management Exits Jordan Trade Facilities Company for US$29 Million (MENA)
Global Capital Management (GCM), the alternative asset management arm of Global Investment House, has sold its 93.27 percent stake in financial services provider Jordan Trade Facilities Company to Jordan-based Invest Bank for US$29 million. GCM originally acquired a majority stake in the company in 2008 through Global MENA Financial Assets, a fund under its management, and associated companies. Read More
Adenia Partners Acquires Majority Stake in Ademat (Sub-Saharan Africa)
Adenia Partners, a private equity fund manager focused on growth opportunities and mid-cap buyouts in Sub-Saharan Africa, has acquired a majority stake in Ademat, a business services company in Côte d’Ivoire active in the power sector. Adenia invested through Adenia Capital (III). Ademat distributes, installs and maintains power devices, inverters, drive systems and other electrical and IT products. Adenia plans… Read More
FountainVest Reaches Final Close for Third Fund with US$2.1 Billion in Commitments (Asia)
China-focused private equity firm FountainVest has reached a final close for FountainVest China Capital Partners Fund III with US$2.1 billion in capital commitments. Investors in the fund, which was oversubscribed, include pension plans, sovereign wealth funds, insurance companies and other institutions from North America, Europe, Australia, the Middle East and Asia. The fund will continue to pursue the investment strategies… Read More
The Abraaj Group to Sell 80 Percent Stake in Jordan Aircraft Maintenance (MENA)
Global growth markets investor The Abraaj Group has agreed to sell an 80 percent stake in commercial aircraft maintenance, repair and overhaul facility manager Jordan Aircraft Maintenance to United Arab Emirates-based aerospace company Dubai Aerospace Enterprise. Financial details of the transaction were not disclosed. Read More
AfricInvest and Siparex Back Tunisia-based Menuiserie Aluminium du Sud (MENA)
Private equity firms AfricInvest and Siparex have invested EUR1.7 million (approximately US$1.9 million) in Tunisia-based aluminum products manufacturer Menuiserie Aluminium du Sud (MAS). The investment was completed in June 2016 and structured through Fonds de Co-Localisation Franco-Tunisian, which is co-managed by AfricInvest and Siparex. MAS will use the new capital in support of its commercial development and restructuring plans. Read More
Helios to Invest US$115.8 Million in Oando Gas and Power (Sub-Saharan Africa)
Africa-focused private investment firm Helios Investment Partners has agreed to acquire 49 percent of the voting rights in Oando Gas and Power (OGP), the midstream business subsidiary of Nigeria-based integrated oil and gas company Oando, for US$115.8 million. Upon completion of the deal, Oando will retain 49 percent of the voting rights in OGP. The residual two percent will be… Read More