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Abris Capital Partners to Sell Novago to China Everbright International (CEE and CIS)
CEE and CIS-focused mid-market private equity firm Abris Capital Partners has agreed to sell Poland-based waste management platform Novago to China Everbright International, the Hong Kong-listed industrial subsidiary of China Everbright Group. Abris Capital Partners originally acquired a majority stake in Novago in 2013. Financial details of the transaction, which is pending regulatory approval, were not disclosed. Read More
SAIF Partners Invests in FarEye and YourDOST (Asia)
India-based software-as-a-service workforce management platform FarEye has raised US$3.5 million in a Series A financing round from Asia-focused private equity firm SAIF Partners. FarEye intends to use the new capital to double its staff. Separately, SAIF Partners has led a US$1.2 million pre-Series A financing round for India-based online counselling and psychological support platform YourDOST. SAIF Partners contributed US$1 million,… Read More
Phatisa Invests in Torre Equipment Africa (Sub-Saharan Africa)
Private equity fund manager Phatisa has invested in South Africa-based equipment distributer Torre Equipment Africa (TEA). With Phatisa’s support, TEA intends to expand its product offering and sales within the agricultural sector. TEA operates in Côte d’Ivoire, Ghana, Liberia, Sierra Leone, Cameroon and Botswana, among others. Financial details of the transaction were not disclosed. Read More
IFC, IFC AMC, Ascension & Sanlam to Provide US$117m in Funding for Lekela Power (Sub-Saharan Africa)
Global renewable energy developer Mainstream Renewable Power has signed a US$117.5 million equity investment from development finance institution International Finance Corporation (IFC); IFC Asset Management Company (IFC AMC), a wholly-owned subsidiary of IFC; Ascension Investment Management, an asset manager for faith-based organizations; and South Africa-based financial services group Sanlam. IFC AMC structured its commitment through IFC African Latin American and… Read More
Denham Capital and GreenWish Partners Form a Partnership to Finance Renewables (Sub-Saharan Africa)
Energy-focused private equity firm Denham Capital has agreed to partner with Sub-Saharan Africa-focused renewable energy investment company GreenWish Partners to develop, build and finance a portfolio of 600 megawatts of renewable energy assets across Sub-Saharan Africa by 2020. The capital commitment will allow the new African renewables platform to carry out a US$1 billion project pipeline. Financial details of the… Read More
Northern Light Venture Capital and New Horizon Capital Lead a US$100 Million Round for Beibei (Asia)
China-focused venture capital firm Northern Light Venture Capital and private equity firm New Horizon Capital have led a US$100 million financing round for China-based maternal and infant products e-commerce platform Beibei. Venture capital firm Banyan Capital and private equity firm Capital Today also participated in the round. Beibei will use the new financing to develop its own supply chains, improve… Read More
Mid Europa Partners Agrees to Increase Its Stake in Waberer’s International (CEE and CIS)
Mid Europa Partners, a private equity firm focused on Central and Eastern Europe and Turkey, has agreed to increase its stake in Hungary-based road freight transportation company Waberer's International from 56.8 percent to 97.1 percent. Mid Europa originally invested in Waberer’s in 2011. Financial details of the transaction, which is subject to anti-trust clearance, were not disclosed. Read More
Emerging Investment Partners Acquires General Cable Egypt (MENA)
MENA-focused private equity firm Emerging Investment Partners (EIP) has acquired General Cable Egypt (GC Egypt), the Egypt-based subsidiary of the United States-listed cable producer General Cable USA. With EIP’s support, GC Egypt intends to expand its market share in Egypt, as well as more broadly in the Middle East and Africa. Financial details of the transaction were not disclosed. Read More
NewMargin Ventures Leads a CNY70 Million Series A Round for Flower Plus (Asia)
China-focused venture capital firm NewMargin Ventures has led a CNY70 million (approximately US$10.7 million) Series A financing round for China-based flower delivery platform Flower Plus. Other participants in the round included China-focused fund managers Guanghe Venture, Telescope Investment and Harmony Invest. Flower Plus plans to use the new capital to grow its user base and improve its logistics system. Read More
Northgate Capital & Alta Growth Capital Invest MXN530m in Grupo Estancias Extendidas (Latin America)
Global private equity fund manager Northgate Capital has led an MXN530 million (approximately US$28.4 million) investment in Mexico-based hotel developer and operator Grupo Estancias Extendidas (Extended Suites) with participation from Mexico-focused private equity firm Alta Growth Capital. The company will use the capital to boost its expansion plan of adding more than 40 new properties in the next five years.… Read More
NewQuest Asia Fund III Reaches a US$540.5 Million Final Close (Asia)
Direct secondaries fund manager NewQuest Capital Partners has reached a final close for its latest fund, NewQuest Asia Fund III, with US$540.5 million in capital commitments, exceeding its original US$500 million target. Investors in the fund included pension funds, sovereign wealth funds, insurers and financial institutions in Asia, North America, Europe and the Middle East. The fund will invest in… Read More
Private Equity-backed L’azurde Completes an IPO (MENA)
Saudi Arabia-based jewelry manufacturer L’azurde Company for Jewelry, which is owned by a consortium of private equity firms comprising Investcorp, Eastgate Capital Group and The National Investor, has completed an initial public offering (IPO). The company raised SAR419.7 million (approximately US$111.9 million) in the retail tranche offering, which accounted for 30 percent of shares on offer, selling 11.3 million shares… Read More