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Shoreline Capital Management Reaches US$150 Million First Close on Shoreline China Value III (Asia)
Shoreline Capital Management, a credit investor focused on China, has reached a first close on its latest distressed debt fund, Shoreline China Value III, with US$150 million in capital commitments. The fund has a target of US$500 million, and a final close is anticipated later this year. Shoreline’s predecessor fund, Shoreline China Value II, held a final close in 2012… Read More
Sequoia Capital Raises US$530 Million for India-focused Fund, Leads US$100 Million Financing Round for E-Commerce Company Coupang (Asia)
Venture capital firm Sequoia Capital has reached a final close on its fourth India-focused fund with US$530 million in capital commitments. The fund will focus on early stage companies, and will deploy capital in India as well as in Southeast Asia. Nearly 98 percent of the capital raised came from Sequoia’s existing limited partners. Separately, Sequoia Capital has led a… Read More
App Annie Raises US$17 Million from IDG Capital Partners, Greycroft Partners and Sequoia Capital (Asia)
Hong Kong-based provider of app store analytics App Annie has raised a US$17 million financing round from existing investors venture capital firms IDG Capital Partners, Greycroft Partners and Sequoia Capital. The financing will be used in part to fund App Annie’s recent acquisition of United States-based Distimo, a mobile analytics company, as well as for product development. App Annie previously… Read More
Hony Capital Partially Exits CSPC Pharmaceutical Group for HKD4.4 Billion (Asia)
China-focused private equity firm Hony Capital has partially exited its investment in China-based generic drugs manufacturer CSPC Pharmaceutical Group. Hony’s affiliate Joyful Horizon sold 600 million shares in CSPC to third parties and 105.9 million shares to an entity owned by the company’s chairman at HKD6.25 (approximately US$0.81) a piece, generating HKD4.4 billion (approximately US$569 million) and representing a total… Read More
iTech Capital and Runa Capital Back Ecwid (CEE and CIS)
Global private equity and venture capital firm iTech Capital has led a US$5 million Series B financing round in Russia-based e-commerce platform Ecwid. Existing investor venture capital firm Runa Capital also participated in the round. Ecwid, which allows retailers to create online stores and add them to web platforms, will utilize the funds to expand its global distribution partner network… Read More
Clearwater Capital Partners Partially Exits Diamond Power Infrastructure, Sells Oil Rig to Arabian Drilling Company (Asia)
Clearwater Capital Partners, an investment firm focused on credit and special situations in Asia, has partially exited its stake in India-based Diamond Power Infrastructure, selling a 5.5 percent stake for INR271 million (approximately US$4.6 million) on the open market. Clearwater, which holds a 5.7 percent stake in the company post-transaction, originally invested in Diamond Power in 2006. Separately, Clearwater has… Read More
KKR Invests in India-based Archean Group, Plans to Acquire Singapore-listed Goodpack (Asia)
Global investment firm Kohlberg Kravis Roberts & Co. (KKR) has completed a mezzanine investment in India-based business conglomerate Archean Group. Archean Group, which has interests in salt manufacturing, coal, phosphatic fertilizers and chemicals, intends to use the funding for company expansion. Financial details of the transaction were not disclosed. Separately, KKR has agreed to acquire Singapore-listed Goodpack, a provider of… Read More
Bertelsmann and Norwest Venture Partners Invest US$16 Million in TrendSutra Platform Services (Asia)
Bertelsmann India Investments, the investment arm of international media company Bertelsmann in India, has led an INR950 million (approximately US$16 million) financing round in India-based TrendSutra Platform Services, which runs online home products marketplace Pepperfry.com. Existing investor venture capital firm Norwest Venture Partners (NVP) also participated in the round. The company had raised INR670 million (approximately US$11.4 million) from NVP… Read More
The Abraaj Group Acquires a Stake in KPN Academy (Asia)
Global growth markets investor The Abraaj Group has acquired a stake in Thailand-based education service provider KPN Academy. The transaction was structured through The Abraaj Group’s Southeast Asia Fund. KPN Academy operates more than 103 centers across Thailand, offering a variety of subjects including music, mathematics, chemistry, physics and social sciences. With the investment, KPN Academy intends to expand its… Read More
Kaszek Ventures Participates in a Series B Investment Round for GuiaBolso (Latin America)
Venture capital firm Kaszek Ventures has led a Series B financing round for Brazil-based GuiaBolso, an online financial management platform. Venture capital firms e.Bricks Digital and Valor Capital Group also participated. The company intends to develop a mobile version of the platform. Financial details of the transaction were not disclosed. Read More
TPG Closes US$3.3 Billion Asia Fund (Asia)
Global private investment firm TPG has closed its sixth Asia-focused fund, TPG Asia VI, with US$3.3 billion in capital commitments. The fund will target investments in the health care, consumer, retail and financial services sectors, with a regional focus on Australia, India, Southeast Asia and China. Half of the fund will likely be dedicated to buyout deals, and the other… Read More
Phatisa to Build Housing Development in Partnership with Africa Reit (Sub-Saharan Africa)
Private equity fund manager Phatisa will invest in a special purpose vehicle with Kenya-based real estate and investment trust Africa Reit to develop a 66-unit apartment complex in Kikuyu Town, located to the west of Nairobi, Kenya. Phatisa’s investment will be structured through its Pan African Housing Fund. Financial details of the transaction were not disclosed. Read More