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Gaja Capital Reaches a Final Close on Gaja II with US$240 Million in Capital Commitments (Asia)
India-focused private equity firm Gaja Capital has reached a final close for its latest fund, Gaja II, with US$240 million in capital commitments. Investors in the fund included development finance institution International Finance Corporation. Gaja plans to make eight to ten investments of US$5 million to US$40 million apiece from the fund, targeting businesses established by first-generation entrepreneurs. Read More
Standard Chartered Private Equity and Goldman Sachs Invest in Vietnam-based MoMo (Asia)
Standard Chartered Bank’s private equity arm Standard Chartered Private Equity (SCPE) and investment bank Goldman Sachs have invested US$28 million in M_Service, a Vietnam-based company that operates mobile e-wallet app MoMo. SCPE contributed US$25 million to the round, while Goldman Sachs—an existing shareholder in the company—contributed US$3 million. MoMo provides e-wallet and over-the-counter remittance and payment services to a reported… Read More
Glenwood Private Equity and Baring Private Equity Asia Agree to Acquire Lafarge Halla Cement (Asia)
Private equity firms Glenwood Private Equity and Baring Private Equity Asia have agreed to acquire South Korea-based cement company Lafarge Halla Cement for an enterprise value of KRW560 billion (approximately US$469 million). Global cement company LafargeHolcim is selling the company as part of a broader global divestment program. The transaction is expected to close in the second quarter of 2016… Read More
Bain Capital Acquires a Majority Stake in Asia Pacific Medical Group for US$150 Million (Asia)
Global private equity firm Bain Capital has acquired more than a 90 percent stake in China-based hospital operator Asia Pacific Medical Group (APMG) for US$150 million. The transaction, which was structured through Bain Capital Asia Fund II and Bain Capital Asia Fund III, facilitated an exit for two existing investors: China-focused private equity firm Cathaya Capital and development finance institution… Read More
InvAscent’s India Life Sciences Fund II Invests in Biorad Medisys (Asia)
India-focused private equity firm InvAscent has invested INR500 million (approximately US$7.4 million) in India-based medical device manufacturer Biorad Medisys. The transaction was structured through India Life Sciences Fund II. Biorad Medisys, which makes orthopedic implants for knee and hip replacements and disposable surgical devices used in radiology procedures, will use the new capital for expansion and acquisitions. Read More
Flint Capital Invests EUR1 Million in Consumer Finance Company Creamfinance (CEE and CIS)
Venture capital firm Flint Capital has invested EUR1 million (approximately US$1.1 million) for a minority stake in Poland-based consumer finance services provider Creamfinance. Flint Capital is an existing investor in the company, having originally backed the company in 2014. The firm plans to support Creamfinance’s expansion into Scandinavian markets. Creamfinance uses algorithms and machine learning to offer customizable personal loans… Read More
The Abraaj Group Acquires Themis Energy to Form an Energy Development Arm (Sub-Saharan Africa)
Global growth markets investor The Abraaj Group has acquired Turkey-based Themis Energy, an Africa-focused energy project development company. Themis will form The Abraaj Group’s dedicated project development arm, supporting energy infrastructure projects from concept to operation across target markets. Financial details of the transaction were not disclosed. Read More
NewQuest Asia Fund III Reaches a First Close with More than US$500 Million in Commitments (Asia)
Direct secondaries fund manager NewQuest Capital Partners has reached a first close for its third fund, NewQuest Asia Fund III, with more than US$500 million in capital commitments. The fund, which has a hard cap of US$520 million, has already exceeded its initial target. NewQuest Asia Fund III will focus on direct secondary deals in the Asia-Pacific region. Read More
Equator Capital Partners Acquires a Minority Stake in Fortis Microfinance Bank (Sub-Saharan Africa)
Impact fund manager Equator Capital Partners has acquired a minority stake in Nigeria-based commercial lender Fortis Microfinance Bank. The transaction was structured through Equator Capital Partners’ fund ShoreCap II. Financial details of the transaction were not disclosed. Read More
Lakeshore Capital Partners Invests in ReadyPlanet (Asia)
Thailand-focused private equity firm Lakeshore Capital Partners has invested in Thailand-based digital marketing company ReadyPlanet. The transaction was structured through Lakeshore Capital Fund I. ReadyPlanet intends to use the new capital to support its move from the enterprise market to the retail market. Financial details of the transaction were not disclosed. Read More
Hony Capital Leads a CNY500 Million Series B Round for Linmon Pictures (Asia)
China-focused private equity fund manager Hony Capital has led a CNY500 million (approximately US$77 million) Series B financing round for China-based boutique entertainment studio Linmon Pictures. Investment holding company Tencent Holding and philanthropic organization Mango V Foundation also participated in the round. Linmon Pictures plans to use the new capital to expand its TV productions and add more entertainment products… Read More
Aqua Capital Raises US$188 Million for Its Second Fund (Latin America)
Aqua Capital, a private equity firm focused on growth investments in mid-market companies in Latin America, has held a first close for its second fund, Agribusiness Latin America Fund II, with US$188 million in capital commitments. Investors in the fund included United States-based endowment University of Texas Management Company and development finance institution DEG. The fund, which is reportedly targeting… Read More