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Golden Gate Ventures Invests in Singapore-based Companies HipVan and MoneySmart (Asia)
Southeast Asia-focused early-stage venture capital firm Golden Gate Ventures has led a SGD4.7 million (approximately US$3.3 million) Series A round for Singapore-based HipVan, an online store for designer furniture. Other investors in the round included early-stage venture capital firm East Ventures, family office LionRock Global and several individual investors. Separately, Golden Gate Ventures has participated in a SGD2.8 million (approximately… Read More
NBK Capital Partners Exits Turkey-based Kiliç Deniz (CEE and CIS)
NBK Capital Partners, a private equity and mezzanine fund manager focused on the Middle East and North Africa region, has sold its stake in Turkey-based Kiliç Deniz, an aquaculture company that specializes in sea water and fresh water fish production. The transaction was structured through NBK Capital Equity Partners Fund I. Financial details of the transaction were not disclosed. Read More
FountainVest Partners-backed IMAX China Completes an HKD1.92 Billion IPO (Asia)
IMAX China, a China-based subsidiary of entertainment technology company IMAX Corporation, has raised HKD1.92 billion (approximately US$248 million) in an initial public offering (IPO) on the Hong Kong Stock Exchange. The company sold 62 million shares at a price of HKD31 (approximately US$4) apiece. China-focused private equity firm FountainVest Partners sold 11 million shares, returning HKD342 million (approximately US$44 million).… Read More
Ascent Capital Africa Raises KES8 Billion for Ascent Rift Valley Fund (Sub-Saharan Africa)
East Africa-focused private equity firm Ascent Capital Africa has reached a final close for Ascent Rift Valley Fund with more than KES8 billion (approximately US$76 million) in capital commitments, exceeding the initial target of KES6 billion (approximately US$57 million). The fund invests in Kenya, Uganda and Ethiopia. Local pension funds Kenya Power Pension Fund and Nation Media Group Pension Fund… Read More
Amethis Finance, DEG, Swedfund and FMO Provide a Loan to Ecobank Nigeria (Sub-Saharan Africa)
Amethis Finance, a fund manager that provides debt and equity financing to companies in Africa, and development finance institutions DEG, Swedfund and FMO have provided a US$75 million syndicated subordinated term loan to commercial bank Ecobank Nigeria. Amethis invested US$15 million, while DEG and Swedfund invested US$20 million and US$10 million, respectively. FMO, which arranged the loan, invested US$30 million.… Read More
SSG Capital Management Reaches a US$325 Million Final Close for Its Fourth Fund (Asia)
Asia-focused asset management firm SSG Capital Management has reached a final close for its fourth fund, SSG Capital Partners IV, with US$325 million in commitments. The fund focuses on higher grade secured private lending to corporations in Asia, rather than the distressed debt strategy of SSG’s previous funds. Read More
The Abraaj Group Raises MXN3.2 Billion with Aditya Birla Group (Asia, Latin America)
Global growth markets investor The Abraaj Group has closed on the issuance of MXN3.2 billion (approximately US$191 million) of Mexican publically traded certificates, or CKD (Certificado de Capital de Desarrollo). The Mexico-focused CKD will invest in mid-sized businesses in the retail, consumer goods, healthcare, education, logistics and financial services sectors. Separately, Abraaj has partnered with Aditya Birla Group, an India-based… Read More
Anchor Equity Partners Reaches a Final Close for Its Second Fund (Asia)
South Korea-focused Anchor Equity Partners has reached a final close for its second fund with US$850 million in capital commitments. The fund, which focuses on buyout, growth capital and industry consolidation opportunities, surpassed its target of US$750 million. Read More
Gaja Capital Invests INR650 Million in SportzVillage (Asia)
India-focused private equity firm Gaja Capital has invested INR650 million (approximately US$9.9 million) in India-based Junior Sports and Services, operator of sports and fitness education company SportzVillage. The transaction was structured through Gaja Capital III. The company plans to use the new capital to expand its operations within India. Read More
RRJ Capital Master Fund III Reaches a Final Close with US$4.5 Billion in Capital Commitments (Asia)
Asia-focused private equity firm RRJ Capital has reached a final close for its third fund, RRJ Capital Master Fund III, with US$4.5 billion in capital commitments. The fund invests globally, with an emphasis on China and Southeast Asia. A series of pension funds committed to the fund, including: US$150 million each from New Jersey Division of Investment and Oregon Public… Read More
Helios Investment Partners Provides a Debt Facility (Sub-Saharan Africa)
Africa-focused private investment firm Helios Investment Partners has provided a debt facility to Nigeria-based marine logistics company Starzs Investments Company. Starzs has made an initial drawdown of the debt facility to acquire MV Varada Queen, a terminal tugboat that Starzs has been operating on a lease-purchase agreement since 2013. Financial details of the transaction were not disclosed. Read More
Capitalworks Acquires a Majority Stake in Robertson and Caine for US$25 Million (Sub-Saharan Africa)
Sub-Saharan Africa-focused alternative asset management firm Capitalworks has acquired a majority stake in South Africa-based boat manufacturer Robertson and Caine for US$25 million. The investment was made alongside Robertson and Caine co-founder John Robertson. The transaction was structured through Capitalworks Private Equity Fund II. Read More