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Permira Backs Management in Teraco Buyout (Sub-Saharan Africa)
International private equity firm Permira has agreed to acquire 100 percent of the equity in South Africa-based Teraco in partnership with the company’s management. The transaction was structured through Permira V. Established in 2008 after the deregulation of South Africa’s telecoms market, Teraco provides carrier-neutral datacenter services in Sub-Saharan Africa. Permira’s investment, the firm’s first in Africa, will support the Teraco’s… Read More
Cartica Capital Partially Exits Kitchen Appliance Manufacturer TTK Prestige (Asia)
Emerging markets-focused alternative asset manager Cartica Capital has partially exited India-based kitchen appliances manufacturer TTK Prestige for INR465 million (approximately US$7.5 million). Cartica’s remaining 5.7 percent stake is worth around INR2.5 billion (approximately US$40 million). Cartica originally invested in the company in June 2013. Read More
Aditya Birla Private Equity Among Anchor Investors in Monte Carlo Fashions IPO (Asia)
India-focused investment manager Aditya Birla Private Equity has acquired a 2.5 percent stake in India-based apparel manufacturer Monte Carlo Fashions for INR350 million (approximately US$5.6 million). The transaction, which was part of an anchor investor allotment ahead of the company’s public issue on the Bombay Stock Exchange and the National Stock Exchange, was structured through Aditya Birla Private Equity Fund… Read More
Qiming Venture Partners Participates in Financing Rounds for Wacai, CANbridge Life Sciences and SequoiaDB (Asia)
Venture capital firm Qiming Venture Partners has participated in financing rounds for three China-based companies: personal finance mobile app developer Hangzhou Wacai Science (Wacai), biopharmaceutical company CANbridge Life Sciences and NoSQL database provider SequoiaDB. Qiming participated in a US$50 million Series B financing round for Wacai, which was led by private equity firm China Broadband Capital and CICC Capital, a… Read More
DPI Acquires a Minority Stake in HomeChoice International (Sub-Saharan Africa)
Pan-African private equity firm Development Partners International (DPI) has acquired a minority stake in South Africa-based home shopping retailer HomeChoice International. The transaction was structured through DPI’s second fund, African Development Partners II. DPI’s investment will be followed by HomeChoice’s listing on the JSE in December. Financial details of the transaction were not disclosed. Read More
NBK Capital Acquires a Majority Stake in Sistem-9 Medya (CEE and CIS)
NBK Capital’s Alternative Investments Group, a private equity and mezzanine fund manager in the Middle East and North Africa, has acquired a 51 percent stake in Turkey-based digital signage company Sistem-9 Medya. The transaction was structured through NBK Capital Equity Partners Fund II. Financial details of the transaction were not disclosed. Read More
TPG Capital to Sell Stake in China Grand Automotive Services to an Investor Group for US$700 Million (Asia)
TPG Capital, the principal investment platform of global private investment firm TPG, has agreed to sell its entire stake in China-based car dealer China Grand Automotive Services (CGA) to a group of investors, led by Chinese financial services company Haitong International Securities Group, for approximately US$700 million. Haitong International will buy 40 percent of TPG’s stake in the company, with… Read More
Middle East Venture Partners and DASH Ventures Invest in Altibbi (MENA)
MENA-focused venture capital firm Middle East Venture Partners and seed investor DASH Ventures have participated in a financing round for United Arab Emirates-based Altibbi, an Arabic language online medical platform. Altibbi intends to use the capital to accelerate revenue growth and expand the reach of its brand. Financial details of the transaction were not disclosed. Read More
Aavishkaar Announces Exit from Net Systems (Asia)
Aavishkaar, an India-focused early-stage investor, has exited its investment in India-based Net Systems to the company’s promoters, generating a reported cash-on-cash return multiple of approximately 3x. Net Systems, which operates under the BarrierBreak brand, specializes in accessibility testing and conversion and assistive technology products for people with disabilities. Aavishkaar first invested in Net Systems in 2005 through its Aavishkaar India… Read More
Goldman Sachs Leads US$36 Million Round for Food-ordering Platform Woowa Brothers (Asia)
A group of investors led by global banking, securities and investment management group Goldman Sachs has invested KRW40 billion (approximately US$36 million) in a Series D funding round for South Korea-based Woowa Brothers, which owns and operates the digital food-ordering platform Baedal Minjok. The company will use the new funds to upgrade its technology, improve customer experience and expand overseas.… Read More
DPI, AfricInvest, DEG, FMO and Proparco to Exit Their Investment in Mansard (Sub-Saharan Africa)
Funds managed by pan-African private equity firms Development Partners International (DPI) and AfricInvest Group, as well as European development finance institutions DEG, FMO and Proparco, have agreed to sell 100 percent of Assur Africa Holding (AAH) to global financial services company AXA Group for EUR198 million (approximately US$247 million). AAH holds a 77 percent interest in Mansard Insurance, a Nigeria-based… Read More
CITIC Capital Partners Completes Acquisition of Study & Share Education Company (Asia)
CITIC Capital Partners, the private equity arm of CITIC Capital Holdings, has acquired a controlling stake in China-based Study & Share Education Company, a provider of test preparation and vocational training for obtaining professional certificates in the construction industry. Study & Share operates more than 40 learning and student recruitment centers across China. Financial details of the transaction, which was… Read More