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Affinity to Sell Its Majority Stake in Digital Music Company Loen Entertainment to Kakao (Asia)
Asia-focused private equity firm Affinity Equity Partners has agreed to sell its 61.4 percent stake in South Korea-listed digital music company Loen Entertainment to South Korea-listed media company Kakao, as part of Kakao’s acquisition of a 76.4 percent stake in the company for US$1.6 billion. As part of the deal, Affinity will reportedly receive US$748 million in cash as well… Read More
Bridgepoint Acquires Poland-based Smyk (CEE and CIS)
International private equity group Bridgepoint has acquired Poland-based children’s apparel and toy retailer Smyk in a transaction totaling EUR247 million (approximately US$269 million), including debt, from Poland-listed retail company Empik Media & Fashion. Cornerstone Partners, a Poland-based private equity firm, also participated in the deal and acquired a minority stake in Smyk. Bridgepoint’s portion of the transaction was structured through… Read More
Azura-Edo Independent Power Project Reaches a US$876 Million Financial Close (Sub-Saharan Africa)
West Africa-focused principal investment firm Amaya Capital and Nigeria-based power development company Azura Power have reached a US$876 million financial close for the Azura-Edo Independent Power Project (IPP), a 450MW gas-fired open cycle power plant in Nigeria. The financing for the Azura-Edo IPP involved US$190 million in equity and US$686 million in debt from a consortium of local and international… Read More
ChrysCapital Reaches a US$350 Million First Close for Its Seventh Fund (Asia)
India-focused private equity firm ChrysCapital has reached a first close for its seventh fund with US$350 million in capital commitments. The fund is targeting US$600 million with a hard cap of US$650 million. The India-dedicated fund will make investments ranging from US$20 million to about US$100 million in a variety of sectors, including healthcare, financial services, business services and consumer… Read More
Vantage Capital Closes Its Third Mezzanine Fund (Sub-Saharan Africa)
Pan-African mezzanine fund manager Vantage Capital has reached a final close for its third mezzanine fund, Vantage Mezzanine Fund III, with ZAR3.7 billion (approximately US$224 million) in capital commitments, exceeding the fund’s target. The fund will allocate US$150 million for investments outside of South Africa, and more than ZAR1 billion (approximately US$61 million) for companies in South Africa. Read More
NSI Ventures, Digital Media Partners and 500 Startups Participate in a Series A Round (Asia)
Grain, a Singapore-based food delivery startup, has raised a reported SGD2.45 million (approximately US$1.7 million) in a Series A financing round led by Southeast Asia-focused early-stage technology investor NSI Ventures. Venture capital firms Digital Media Partners and 500 Startups also participated in the round, along with angel investor Ivan Lee. Grain plans to use the new funding to expand its… Read More
Temasek, March Capital and Warburg Pincus Invest INR9.5 Billion in CarTrade (Asia)
India-based online auto classifieds company CarTrade has raised INR9.5 billion (approximately US$142 million) in a funding round led by Singaporean sovereign wealth fund Temasek and global venture investment firm March Capital. Existing investor global private equity firm Warburg Pincus also participated in the round. CarTrade plans to use the new capital to diversify and strengthen its offerings for consumers and… Read More
Lok Capital and Aspada Investment Advisors Invest in Siddhivinayak Agri Processing (Asia)
Venture capital firm Lok Capital has led a Series B financing round for India-based agriculture processing and distribution company Siddhivinayak Agri Processing (SV Agri). Existing investor Aspada Investment Advisors, an investment firm focused on small- and medium-sized enterprises in India, also participated in the round. SV Agri plans to use the capital to expand its procurement operations and scale up… Read More
The Abraaj Group Agrees to Acquire a Majority Stake in Quality CARE India (Asia, MENA)
Global growth markets investor The Abraaj Group has agreed to acquire a majority stake in India-based healthcare provider Quality CARE India from global private equity firm Advent International. Abraaj reportedly agreed to purchase a 72 percent stake in the company from Advent, valuing the company at more than US$269 million. The transaction is subject to customary closing conditions. Separately, Abraaj… Read More
LIV Capital Reaches an MXN2.88 Billion First Close for Mexico Growth Fund IV (Latin America)
Mexico-focused growth equity and venture capital investor LIV Capital has reached a first close on its Mexico Growth Fund IV with MXN2.88 billion (approximately US$168 million) in capital commitments. LIV Capital raised the first close amount through a Certificado de Capital de Desarrollo (CKD) on the Mexican Stock Exchange, representing the Mexican investment vehicle of Fund IV. LIV is targeting… Read More
Vantage Capital Exits Packaging Company TrenStar (Sub-Saharan Africa)
Pan-African mezzanine fund manager Vantage Capital has fully exited its investment in South Africa-based recyclable packaging company TrenStar. Following the exit, the new investors in TrenStar are South Africa-focused private equity fund manager Kleoss Capital, South Africa-based financial services and private equity firm Leaf Capital and TrenStar management. Kleoss Capital’s transaction was structured through Kleoss Capital Fund I. Vantage originally… Read More
Update: The Abraaj Group Acquires a Stake in Cellulose Processing (MENA)
Global growth markets investor The Abraaj Group has acquired a minority stake in Algeria-based baby diaper and feminine sanitary pad manufacturer and distributor Cellulose Processing (CEPRO) from North Africa-focused private equity firm Mediterrania Capital Partners. The transaction, which represents a full exit for Mediterrania, was structured through Abraaj’s Abraaj North Africa Fund II and Mediterrania’s Fons Mediterrania Capital. Abraaj intends… Read More