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Helios Investment Partners Agrees to Exit HTN Towers to IHS Towers (Sub-Saharan Africa)
Africa-focused private investment firm Helios Investment Partners has agreed to sell its stake in Nigeria-based telecommunications tower company Helios Towers Nigeria (HTN Towers) as part of Africa-focused mobile telecommunications infrastructure provider IHS Towers’ acquisition of a 100% stake in the company. Other sellers in the transaction include South Africa-based holding company Pembani Group and Nigeria-based lender First City Monument Bank.… Read More
21 Concordia Backs Poland-based Laundry Service Provider Hollywood (CEE and CIS)
21 Concordia, a Poland-focused private equity firm affiliated with 21 Partners, has invested in Poland-based business to business laundry service provider Hollywood. With 21 Concordia's support, Hollywood plans to grow its business in Poland and enter new market segments and geographies. Financial details of the transaction were not disclosed. Read More
AfricInvest Invests in Silafrica Plastics and Packaging International (Sub-Saharan Africa)
Pan-African private equity firm AfricInvest has invested in Tanzania-based plastics manufacturer Silafrica Plastics and Packaging International (Silafrica). The transaction was structured through AfricInvest Fund III. Silafrica, which has a presence in Tanzania, Kenya, Ethiopia, Uganda and India, will use the new capital to expand both its product range and its geographic presence in Africa. Financial details of the transaction were… Read More
InQuba Receives an Investment from Convergence Partners (Sub-Saharan Africa)
Africa-focused investment management firm Convergence Partners has acquired a minority stake in South Africa-based customer experience software provider InQuba. The transaction was structured through Convergence Partners Fund I. InQuba will use the new funds to expand its presence and to enhance its product offering. Financial details of the transaction were not disclosed. Read More
Paragon Partners Growth Fund I Reaches a US$50 Million First Close (Asia)
India-focused private equity firm Paragon Partners has reached a first close for its maiden fund, Paragon Partners Growth Fund I, with US$50 million in capital commitments. Investors included India-based financial services companies IIFL and Edelweiss Group; India-based investment company Infina Finance; and Canada-based financial holding company Fairfax Financial. The fund will target companies in India across multiple sectors and has… Read More
Medu Capital Acquires Universal Paints and Elite Truck Hire for ZAR450 Million (Sub-Saharan Africa)
South Africa-focused private equity firm Medu Capital has acquired 100 percent ownership stakes in two South Africa-based companies, paint manufacturer Universal Paints and truck rental company Elite Truck Hire, for a total of ZAR450 million (approximately US$29 million). The transactions were structured through Medu III. Universal Paints manufactures and supplies decorative paint and coatings, while Elite Truck Hire provides short-… Read More
Amadeus Capital Leads a Series C Round for IndiaMART (Asia)
Technology-focused venture capital firm Amadeus Capital Partners has led a Series C round for India-based online marketplace IndiaMART. Other participants in the round included India-focused private investment firm WestBridge Capital; Quona Capital, an investor in growth-stage financial technology companies in emerging markets; and Intel Corporation’s venture capital arm Intel Capital. IndiaMART will use the new capital to scale its Indiamart.com… Read More
Aspada and Blume Ventures Participate in a Funding Round for Dunzo (Asia)
India-focused investment firm Aspada Investment Advisors, India-focused early stage venture capital firm Blume Ventures and a series of angel investors have invested US$650,000 in India-based Dunzo, the operator of a mobile application for managing personal tasks. The company, launched in 2015, allows consumers to complete a range of everyday tasks by connecting them with small merchants and contractors via a… Read More
MENA Infrastructure Exits Alexandria International Container Terminals & United Power Company (MENA)
MENA Infrastructure, an infrastructure fund manager focused on the Middle East, North Africa and Turkey region, has sold its 30 percent stake in Egypt-based port terminal operator Alexandria International Container Terminal to global port investor Hutchison Port Holdings. Separately, MENA Infrastructure has exited its 38 percent stake in Oman-based power plant operator United Power Company to Saudi Arabia-based renewable energy… Read More
Africa Internet Group Raises EUR225 Million (Sub-Saharan Africa)
Nigeria-based e-commerce company Africa Internet Group (AIG) has secured EUR225 million (approximately US$244 million) from investment bank Goldman Sachs, South Africa-based telecom company MTN Group and global e-commerce investment company Rocket Internet. This amount is in addition to France-based insurer AXA’s EUR75 million (approximately US$81 million) investment in the company that was announced in February 2016. AIG owns several technology… Read More
Union Square Ventures, LocalGlobe and SmartCap Invest US$2 Million in Jobbatical (CEE and CIS)
Jobbatical, an Estonia-based platform that connects jobseekers to global tech jobs, has raised a US$2 million financing round from venture capital firms Union Square Ventures and LocalGlobe. Early-stage venture capital fund manager SmartCap also participated in the round. Jobbatical plans to use the new funding to improve its product and user experience, grow its team and open a regional hub… Read More
ALLVP Invests in Mexico-based Mobile Virtual Network Operator Weex (Latin America)
Mexico-focused venture capital firm Antoni & Lelo de Larrea Venture Partners (ALLVP) has invested in Weex, a Mexico-based mobile virtual network operator. The company offers a platform on which users can create their own personalized mobile phone plans from a selection of talk, text and data bundles. Financial details of the transaction were not disclosed. Read More