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Tanzania-based Off Grid Electric Raises US$18m from Helios and responsAbility (Sub-Saharan Africa)
Tanzania-based solar electricity provider Off Grid Electric has raised a total of US$18 million from Africa-focused private investment firm Helios Investment Partners and impact investment firm responsAbility Investments. Helios committed US$10 million and responsAbility provided US$8 million in debt financing. The firms’ investments will be used to support the rollout of Off Grid’s distributed solar home and batteries product. Read More
Warburg Pincus Agrees to Invest US$125 Million in Stellar Value Chain Solutions (Asia)
Global private equity firm Warburg Pincus has agreed to invest US$125 million in India-based third-party logistics platform Stellar Value Chain Solutions. Stellar aims to provide integrated logistics services, including multi-user modern warehousing, primary and secondary distribution, e-fulfillment and cold storage. Read More
Da Vinci Capital Invests US$40 Million for Minority Stake in Softline (CEE and CIS)
Da Vinci Capital, an independent asset manager focusing on mid-market private equity investments in Russia and the Commonwealth of Independent States, has acquired a minority stake in Russia-based IT solutions and services provider Softline for a reported US$40 million. Da Vinci invested through Da Vinci Private Equity Fund II and Da Vinci Pre-IPO Fund. Softline will use the new capital… Read More
Sequoia Capital, Omidyar and Kae Capital Participate Series E Round for Healthkart (Asia)
Venture capital firm Sequoia Capital has led an INR800 million (approximately US$12 million) Series E round for India-based online health products vendor Healthkart. Philanthropic investment firm Omidyar Network and India-focused venture capital firm Kae Capital also participated in the round. Healthkart will use the new capital to support its marketing initiatives and offline expansion. Read More
Carousell Raises US$35 Million Series B from Rakuten Ventures, Sequoia Capital, and Others (Asia)
Rakuten Ventures, the corporate venture arm of Japanese e-commerce and internet company Rakuten, has led a US$35 million Series B round for Singapore-based online market application Carousell. Venture capital firms Sequoia Capital, Golden Gate Ventures and 500 Startups also participated in the round. Carousell will use the new capital to expand internationally. Read More
Investisseurs & Partenaires Invests in Enko Education, Baraji and Africa Radio (Sub-Saharan Africa)
Sub-Saharan Africa-focused impact investment group Investisseurs & Partenaires (I&P) and development finance institution Proparco have participated in a US$2.2 million Series A round for South Africa-based private school network Enko Education. Each investor committed US$1.1 million. Enko will use the new capital to fund the operation of its existing schools, as well as launch new schools. Separately, I&P invested in… Read More
Ovum Hospitals Raises US$5 Million from IL&FS Investment Managers and Norwest (Asia)
India-focused private equity firm IL&FS Investment Managers and global venture capital firm Norwest Venture Partners have invested INR330 million (approximately US$4.9 million) in India-based Neonatal Care & Research Institute, an operator of pediatric and neonatal care units under the Ovum Hospitals brand. Ovum, which currently offers its services using an embedded model within two hospitals in the Bangalore area, plans… Read More
Redpoint E.Ventures Invests in Brazil-based Olist (Latin America)
Venture capital firm Redpoint e.ventures has bought a 20 percent stake in Olist, a Brazil-based company that helps small businesses to sell their products on e-commerce websites. Olist plans to use the capital raised for the development of data analysis tools and process automation. Financial details of the transaction were not disclosed. Read More
IFC Emerging Asia Fund Reaches First Close (Asia)
Development finance institution International Finance Corporation (IFC) has reached a first close for its IFC Emerging Asia Fund. Investors in the fund include Korea Development Bank and the Fiji National Provident Fund, as well as IFC, which committed US$200 million. The fund will target opportunities that align with IFC’s strategy for the region, including addressing the infrastructure deficit and helping… Read More
Partners Group to Back Taiwan-based Solar Power Development Platform (Asia)
Global private markets investment manager Partners Group has agreed to invest more than US$200 million for a controlling stake in a solar power development platform in Taiwan. Cathay Life Insurance is also acquiring a minority stake in the platform through a Partners Group-managed vehicle. The platform has entered into an agreement with Taiwan-based solar power plant developer Sinogreenergy to develop… Read More
KKR to Sell Stake in Gland Pharma to Fosun Pharmaceutical for US$576 Million (Asia)
Global investment firm KKR has agreed to sell its approximately 38 percent stake in India-based pharmaceutical company Gland Pharma to Shanghai Fosun Pharmaceutical, a subsidiary of China-based conglomerate Fosun International, as part of Fosun’s acquisition of an 86 percent stake in the company. The transaction value will total as much as US$1.26 billion, of which KKR’s proceeds could reach US$576… Read More
EMX Capital Acquires 100 Percent Stake in Consorcio Industrial Valsa (Latin America)
Mexico-focused private equity fund manager EMX Capital has acquired a 100 percent stake in Mexico-based aluminum products manufacturer Consorcio Industrial Valsa. With EMX Capital’s support, Valsa will expand operations, increase productivity and improve its customer service. Financial details of the transaction were not disclosed. Read More