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Advent International Agrees to Acquire Agrochemical Manufacturer VIAKEM (Latin America)
Global private equity firm Advent International has agreed to acquire Mexico-based agrochemical manufacturer VIAKEM. Founded in 1938, VIAKEM manufactures crop protection chemicals for global agrochemical companies. Financial details of the transaction, which is expected to close in the third quarter of 2016, were not disclosed. Read More
Vantage Capital Provides NAD80M of Debenture Funding to United Africa Group (Sub-Saharan Africa)
Pan-African mezzanine fund manager Vantage Capital has provided a debenture facility of NAD80 million (approximately US$5.5 million) to Namibia-based hospitality and property company United Africa Group (UAG). The transaction was structured through Vantage Capital Fund III. UAG will use the funding to support its equity contribution to the construction of a new Hilton Garden Inn located in Windhoek, Namibia. Read More
Catalyst Principal Partners Invests in Orbit Chemical Industries (Sub-Saharan Africa)
East Africa-focused private equity firm Catalyst Principal Partners has invested in Kenya-based manufacturing company Orbit Chemical Industries. The investment was structured through Catalyst Fund I. Orbit Chemical—which manufactures a diversified line of household and personal care products, industrial chemicals and agro-chemicals—will use the new capital to increase the capacity of its existing lines, extend its products range and expand regionally.… Read More
IDFC and Micromax Lead a US$15 Million Funding Round for TranServ (Asia)
India-focused investment management firm IDFC Asset Management and India-based consumer electronics company Micromax Informatics have led a US$15 million Series C funding round for India-based digital payments company TranServ. Existing investors in the company, early-stage investor Nirvana Ventures and private equity firm Faering Capital, also participated in the round. IDFC’s investment was structured through IDFC SPICE Fund, while Faering’s investment… Read More
ICICI Venture Reaches a US$190 Million First Close for India Advantage Fund Series 4 (Asia)
India-focused private equity fund manager ICICI Venture has reached a first close for its India Advantage Fund Series 4 with US$190 million in capital commitments. Investors in the fund included an Asian sovereign wealth fund and ICICI’s existing investors. The fund will be sector agnostic and will invest US$25 million to US$50 million per deal. Read More
Hony Capital Fund VIII Reaches a US$2.7 Billion Final Close (Asia)
China-focused private equity firm Hony Capital has reached a final close for Hony Capital Fund VIII with US$2.7 billion in capital commitments. Investors in the fund included pensions California State Teachers’ Retirement System, Canadian Pension Plan Investment Board and BBC Pension Trust; sovereign wealth funds Temasek Holdings and Abu Dhabi Investment Authority; investment bank Goldman Sachs; global private markets investment… Read More
KKR Supports Astarc Group’s Buyback of Navis Capital Partners’ Stake in Classic Stripes (Asia)
Global investment firm KKR has backed India-based conglomerate Astarc Group in support of Astarc Group’s buyback of a 51 percent stake in its subsidiary Classic Stripes from Asia-Pacific-focused private equity firm Navis Capital Partners. The deal was reportedly valued at INR3.6 billion (approximately US$54 million). Established in 1987, Classic Stripes designs, manufactures and distributes automotive graphics. Navis originally invested in… Read More
Jacob Ballas Capital Partially Exits PNC Infratech via Share Sale (Asia)
Private equity advisory firm Jacob Ballas Capital India has partially exited its investment in India-based infrastructure construction company PNC Infratech, selling a 2.6 percent stake on the Bombay Stock Exchange. Jacob Ballas sold 1.3 million shares and is estimated to have returned INR670 million (approximately US$10 million). Post-transaction, Jacob Ballas holds a 5.8 percent stake in the company. Read More
Tiger Global, IDG Ventures India and Yuri Milner Lead a US$30M Series C Round for NestAway (Asia)
Global investment firm Tiger Global, venture capital firm IDG Ventures India and individual investor Yuri Milner have led a US$30 million Series C round for India-based online rental property manager NestAway. The company, which acts as an agent for homeowners looking to rent out their homes, plans to use the new capital to scale up its operations and improve its… Read More
The Abraaj Group to Lead a US$30 Million Financing Round for Ninja Logistics (Asia)
Global growth markets investor The Abraaj Group is leading a consortium of investors in a US$30 million funding round for Singapore-based Ninja Logistics, operator of last-mile logistics company Ninja Van. Other participants in the round include venture capital firm Monk’s Hill Ventures, growth stage investment firm B Capital Group and Yahoo Japan’s investment arm YJ Capital. Ninja Van—which operates in… Read More
ARX Equity Partners Exits Tomplast to KJK Capital (CEE and CIS)
ARX Equity Partners, a private equity investor focused on mid-sized companies in CEE, has sold its stake in Slovenia-based plastic components producer Tomplast to funds managed by Finnish investment manager KJK Capital. ARX, which originally invested in Tomplast in 2007, reported a 4.1x cash-on-cash return multiple and an IRR exceeding 20 percent. Financial details of the transaction were not disclosed. Read More
TPG Leads a US$210 Million Financing Round for Janalakshmi Financial Services (Asia)
Global private equity firm TPG has led a US$210 million financing round for India-based microfinance institution Janalakshmi Financial Services. Asia-Pacific-focused private equity investor Morgan Stanley Private Equity Asia, India-based electrical equipment company Havells India and individual investor Vallabh Bhansali also participated in the round. The investment consisted of US$150 million in primary equity financing and US$60 million in secondary transactions,… Read More