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IDG Ventures India Participates in Two Financing Rounds (Asia)
IDG Ventures India and philanthropic investment firm Omidyar Network have led a US$5 million Series A venture capital round for India-based Rejuvenate Solutions, operator of on-demand home services platform Zimmber. Existing investors Aarin Capital and Sherpalo Ventures also participated in the round. The company will use the fresh capital for marketing, brand building and technology optimization. Separately, IDG Ventures India… Read More
ARX Equity Partners CEE IV Reaches a EUR54 Million First Close (CEE and CIS)
ARX Equity Partners, a private equity fund manager focused on mid-sized companies in Central Europe, has reached a first close for ARX CEE IV at EUR54 million (approximately US$60 million), with total subscribed commitments of EUR66 million (approximately US$73 million). Investors in the fund included the development finance institution European Investment Fund, Czech Republic-based retail bank Ceska Sporitelna, investment firm… Read More
Vantage Capital Invests ZAR200 Million in New GX Capital (Sub-Saharan Africa)
Pan-African mezzanine fund manager Vantage Capital has provided a ZAR200 million (approximately US$13.6 million) expansion capital facility to South Africa-based investment company New GX Capital. The transaction was structured through Vantage Mezzanine Fund III. New GX Capital will use the new financing for additional investments in the telecommunications infrastructure, energy, waste management and information technology sectors in South Africa and… Read More
WDB Investment Holdings and Grovest Acquire 57.5 Percent Stake in Seed Engine (Sub-Saharan Africa)
WDB Investment Holdings, a South Africa-focused private investor focused on women’s empowerment, and Grovest, a South Africa-focused venture capital company, have acquired a 57.5 percent stake in South Africa-based Seed Engine, a company that offers training, support and funding mechanisms to startups. WDB and Grovest acquired 30 percent and 27.5 percent stakes, respectively. Financial details of the transaction were not… Read More
CMC Capital Partners Reaches a US$350 Million First Close for Its China Media Fund (Asia)
Media-focused alternative investment management company CMC Capital Partners has reached a first close for its second U.S. dollar-denominated China media fund with more than US$350 million in capital commitments. Existing investors accounted for the bulk of commitments. The fund has a hard cap of US$600 million and will focus on investments in the media, entertainment and technology sectors, with a… Read More
Farallon Capital’s FASS III Completes a US$1.12 Billion Final Close (Multi Region)
Global institutional investment management firm Farallon Capital Management has reached a final close for Farallon Asia Special Situations III and Farallon Asia Special Situations Master III (collectively FASS III), with a combined total of US$1.12 billion in capital commitments. Investors in FASS III included United States-based pension groups New York State Common Retirement Fund, Duke University Pension Plan, Massachusetts Institute… Read More
Omidyar Network Participates in a US$3 Million Series A Round for Overcart (Asia)
Philanthropic investment firm Omidyar Network has participated in a US$3 million Series A round for India-based Overcart, a marketplace for businesses with unboxed, refurbished, preowned and excess electronic products. Other investors in the round included JSW Group’s venture arm JSW Ventures and India-based investor Venture Works. Overcart will use the new capital to build out its hardware and software and… Read More
Metier Capital Growth Fund II Completes Additional Closes (Sub-Saharan Africa)
Metier, a private equity and alternative asset fund manager, has completed additional closes for Metier Capital Growth Fund II with more than ZAR2.5 billion (approximately US$170 million) in capital commitments. Investors in the fund included development finance institutions DEG, FMO, IFC and Proparco; frontier market investor Sarona Asset Management; Averroès Finance III, a fund sponsored by Proparco and France-based investment… Read More
African Infrastructure Investment Managers Sells Three Toll Roads (Sub-Saharan Africa)
Infrastructure investment firm African Infrastructure Investment Managers has exited three toll road projects in Southern Africa: N3 Toll Concession, Trans African Concessions and the South African Toll Road Company. AIIM originally invested in the projects through South Africa Infrastructure Fund (SAIF). The buying consortium included South African investment manager Public Investment Corporation, South African financial services firms Liberty Group and… Read More
500 Startups Invests in United Arab Emirates-based Joi (MENA)
Venture capital firm 500 Startups has invested in United Arab Emirates-based flower and gift online marketplace Joi. The platform will work with offline vendors who want to expand into online delivery. Financial details of the transaction, which was structured through 500 Startups’ global fund and 500 Falcons fund, were not disclosed. Read More
Joy Capital I Reaches a Final Close with US$200 Million in Capital Commitments (Asia)
India-based Bigtree Entertainment, which owns and operates online entertainment ticketing platform BookMyShow, has raised more than INR5.5 billion (approximately US$82 million) from growth-stage private equity firm Stripes Group, India-based media and entertainment conglomerate Network18 Group, global venture capital firm Accel Partners and Asia-focused private equity firm SAIF Partners. Founded in 1999 and re-launched in 2007, BookMyShow is present in more… Read More
NeoGrowth Raises a Financing Round from IIFL, Quona Capital, Omidyar Network & Other Investors(Asia)
India-based investor IIFL Private Wealth Management and financial services-focused venture capital firm Quona Capital have led a financing round for India-based loan provider NeoGrowth. Other investors included philanthropic investment firm Omidyar Network, India-focused investment firm Aspada Investment Advisors and impact investor Khosla Impact Fund. Quona Capital structured its contribution through the Accion Frontier Inclusion Fund. NeoGrowth has raised US$35 million… Read More