GPCA covers the latest fund, investment and industry news across our markets in two newsletters: NewsWatch is a weekly round-up of key transactions across asset classes; the Global Tech Brief is a bi-weekly review of tech transactions and innovations with cross-border applications. Subscribe in the left-hand sidebar.
Access past editions of NewsWatch here.
Southern Cross Agrees to Acquire Controlling Stake in Intellego (Latin America)
Latin America-focused private equity firm Southern Cross Group has agreed to acquire a controlling stake in Mexico-based IT consulting company Intellego. Established in 1999, Intellego operates in Mexico, Guatemala, Ecuador, Peru, Chile, Argentina and Brazil. Financial details of the transaction, which is subject to regulatory approval, were not disclosed. Read More
IFC, Omidyar, Quona Capital and Others Participate in US$15 m Series B Round (Sub-Saharan Africa)
Development finance institution International Finance Corporation (IFC) has led a US$15 million Series B round for South Africa-based financial technology company Zoona. Other participants in the round included financial services-focused venture capital firm Quona Capital, philanthropic investors Omidyar Network and the Lundin Foundation, South Africa-focused venture capital firm 4Di Capital and individual investor Patrick Pichette. Zoona will use the investment… Read More
Hike Raises More than US$175 Million Series D Round from Tencent, Foxconn and Others (Asia)
China-based investment holding company Tencent and Taiwan-based electronics manufacturer Foxconn have led a Series D round of more than US$175 million for India-based instant messaging application Hike. Other investors in the round included global investment firm Tiger Global Management, India-based conglomerate Bharti Enterprises and Japan-based telecommunications company Softbank. Hike was founded in 2012 and claims to have 100 million users. Read More
Cathay Capital, Matrix Partners & K2 Ventures Participate in CNY1 Billion Round for Meet You (Asia)
China-based Meet You, a female social network and mobile application, has raised CNY1 billion (approximately US$151 million) in new financing from existing investors, including cross-border private equity firm Cathay Capital Private Equity and venture capital firms Matrix Partners and China Renaissance K2 Ventures. Meet You, which is operated by Xiamen Information Technology, will use the proceeds to allow existing U.S.… Read More
Kerogen Capital Closes Kerogen Energy Fund II with US$830 Million in Commitments (Global)
Energy focused private equity fund manager Kerogen Capital has reached a final close for its Kerogen Energy Fund II. The fund, together with its parallel funds and related co-investment funds, closed with capital commitments of US$830 million. Investors in the fund include endowments, foundations, pension funds, insurance companies, funds of funds, international corporations and family offices. The fund will make… Read More
Zubr Capital Fund I Completes US$50 Million Close (CEE and CIS)
Belarus-focused fund manager Zubr Capital has completed a close for Zubr Capital Fund I with US$50 million in capital commitments. Development finance institution European Bank for Reconstruction and Development (EBRD) is the anchor investor of the fund and has committed US$12.5 million, an amount which may increase in the coming year. The fund will target Belarus-based companies in the IT,… Read More
African Capital Alliance, 8 Miles and DEG Invest in Nigeria-based Beloxxi (Sub-Saharan Africa)
West Africa-focused investment firm African Capital Alliance, Africa-focused private equity firm 8 Miles and development finance institution DEG have invested US$80 million for a minority stake in Nigeria-based biscuit manufacturer Beloxxi. DEG invested US$10 million in the round. The company will use the new capital to expand its capacity and grow its regional distribution presence. Read More
Kleoss Capital Acquires Minority Stake in Real Foods (Sub-Saharan Africa)
South Africa-focused private equity fund manager Kleoss Capital has acquired a minority stake in South Africa-based multi-brand food group Real Foods. Kleoss Capital invested through Kleoss Capital Fund I. Real Foods will use the new capital to execute its acquisition strategy in the natural foods industry. Financial details of the transaction were undisclosed. Read More
ICICI Venture Partially Exits TeamLease via INR1 Billion Share Sale (Asia)
India-focused private equity fund manager ICICI Venture has completed a partial exit of National Stock Exchange-listed recruitment and human resources company TeamLease, selling a block of 910,000 shares for INR1 billion (approximately US$15 million). ICICI Venture originally invested in TeamLease through India Advantage Fund Series 3. After the share sale, ICICI Venture continues to hold around 112,000 shares in TeamLease. Read More
Advent International Agrees to Acquire Brazil-based Fortbras Group (Latin America)
Global private equity firm Advent International has agreed to acquire Brazil-based auto parts distributor Fortbras Group through its Latin American Private Equity Fund VI. The transaction, which is subject to regulatory approval and customary closing conditions, is expected to be completed in the third quarter of 2016. Financial terms of the transaction were not disclosed. Read More
IFC, IFC AMC Invest BRL125 Million in Aegea Saneamento e Participações (Latin America)
Development finance institution International Finance Corporation (IFC) and IFC Asset Management Company (IFC AMC), a wholly-owned subsidiary of IFC, have invested BRL125 million (approximately US$40 million) in Brazil-based water supply and wastewater treatment company Aegea Saneamento e Participações. Each investor contributed BRL62.5 million (approximately US$20 million), with IFC AMC investing through its Global Infrastructure Fund. Read More
Wamda Capital Leads US$5 Million Financing Round for Kharabeesh (MENA)
MENA-focused venture capital firm Wamda Capital has led a US$5 million financing round for Jordan-based online media producer Kharabeesh. Endeavor Catalyst, the philanthropically-funded co-investment vehicle of global investment and entrepreneurship network Endeavor, and seed investor DASH Ventures also participated in the round. Kharabeesh will use the new capital to expand in Dubai, Jeddah and Riyadh and develop its technology. Read More