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Metier Capital Growth Fund II Reaches a First Close (Sub-Saharan Africa)
Metier, a private equity and alternative asset firm, has completed a first close for Metier Capital Growth Fund II with an undisclosed amount of committed capital. Investors included South African institutional investors, as well as development finance institutions FMO and DEG. The fund will target mid-cap growth investment opportunities in Sub-Saharan Africa in sectors including transport and logistics, retail, health and… Read More
JD Capital-backed Well Lead Medical Completes an IPO (Asia)
China-based medical device manufacturer Well Lead Medical, backed by China-focused investment firm JD Capital, has completed an initial public offering (IPO) on the Shanghai Stock Exchange, raising RMB385 million (approximately US$61 million) by issuing 25 million new shares at RMB15.4 (US$2.5) apiece. JD Capital, which invested an undisclosed amount in the company in 2011, saw its eight percent stake diluted… Read More
CIMB Group and Mitsubishi Reach a First Close for ASEAN Industrial Growth Fund (Asia)
Malaysia-based financial services group CIMB Group and Japan-based conglomerate Mitsubishi have held a first close for their joint fund ASEAN Industrial Growth Fund (AIGF) with US$130 million in capital commitments. Investors in the first close included Development Bank of Japan, Japan-based conglomerate Hitachi, steel manufacturer Yamato Kogyo and financial institutions The Toho Bank and Shinsei Bank. AIGF, which was launched… Read More
Tribeca Asset Management Exits Bogota CargoCity for US$56.5 Million (Latin America)
Latin America-focused private equity fund manager Tribeca Asset Management has fully exited Colombia-based Operador del Terminal de Carga Aeropuerto Internacional El Dorado, operator of Bogota CargoCity, the air cargo terminal at Bogota’s El Dorado International Airport. The investment returned US$56.5 million, resulting in a reported IRR of 22.9 percent and a cash multiple of 1.8x. Tribeca initially invested in the… Read More
The Abraaj Group, EBRD, DEG and Proparco Form the North Africa Hospital Holdings Group (MENA)
Global growth markets investor The Abraaj Group, along with development finance institutions European Bank for Reconstruction and Development (EBRD), DEG and Proparco, has formed the North Africa Hospital Holdings Group (NAHHG), an Egypt- and Tunisia-focused healthcare investment platform. Abraaj contributed US$145 million to the platform, EBRD contributed US$25 million and DEG and Proparco each contributed US$15 million. NAHHG currently encompasses… Read More
Elixir Capital Leads a Funding Round for FashionValet (Asia)
Global private equity firm Elixir Capital has led a round of financing for Malaysia-based online fashion retailer FashionValet. The transaction was structured through Elixir Capital’s ECM Straits Fund. The company intends to use the fresh investment to expand its mobile e-commerce presence, improve its big data strategies and costumer content and scale its operations into other cities in Asia. Financial… Read More
KV Asia Capital Invests in Aalst Chocolate (Asia)
Southeast Asia-focused private equity firm KV Asia Capital has invested in a round of financing for Singapore-based premium chocolate manufacturer Aalst Chocolate. The investment was structured through KV Asia Capital’s investment vehicle International Chocolate and Cocoa Holdings. Aalst Chocolate intends to use the fresh funding to expand into new markets. Financial details of the transaction were not disclosed. Read More
Cartica Capital Sells a 1.4 Percent Stake in TTK Prestige to Nalanda Capital (Asia)
Emerging markets-focused alternative asset manager Cartica Capital has sold a 1.4 percent stake in India-based kitchen appliance manufacturer TTK Prestige to India-focused public markets investment manager Nalanda Capital. The secondary sale totaled INR483 million (approximately US$7.8 million). Cartica’s remaining 1.5 percent stake is reportedly worth around INR530 million (approximately US$8.6 million), while Nalanda now holds a three percent stake in… Read More
Fondo de Fondos Raises MXN 3.3 Billion for Its Mexican CKD (Latin America)
Mexico-focused fund of funds manager Fondo de Fondos has raised MXN3.3 billion (approximately US$219 million) for a new vehicle, which will make both fund investments and co-investments in private equity, infrastructure and real estate. It is structured as a CKD (Certificado de Capital de Desarrollo), a vehicle listed on the Mexican Stock Exchange that allows Mexican pension funds to invest… Read More
IDG Ventures India, Jungle Ventures and India Quotient Back Momoe Technologies (Asia)
Venture capital firms IDG Ventures India, Jungle Ventures and India Quotient have invested INR74 million (approximately US$1.2 million) in India-based Momoe Technologies, the operator of a mobile payments application. The company, which is currently active in Bangalore, offers an app-based payment option where users can pay using a virtual wallet. It plans to expand to other cities across India. Read More
Amethis Finance Acquires a Minority Stake in CIEL Finance (Sub-Saharan Africa)
Amethis Finance, a fund manager that provides debt and equity financing to companies in Africa, has acquired a 17.1 percent stake in CIEL Finance, the Mauritius-based banking and financial services division of CIEL Group. Amethis Finance plans to increase its stake to 24.9 percent later in 2015. CIEL Finance intends to use the fresh capital to consolidate and expand its… Read More
LeapFrog Invests US$25 Million in AFB Mauritius (Sub-Saharan Africa)
Emerging markets financial services investor LeapFrog Investments has invested US$25 million in AFB Mauritius (afb), a Mauritius-based financial technology company serving consumers and small businesses. The investment was structured through LeapFrog Financial Inclusion Fund II. Afb is active in Kenya, Zambia and Ghana, with plans to expand to adjacent markets in Sub-Saharan Africa. Read More