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Foursan Group Completes Investments in Shamsuna Power, Nafith Logistics and National Bank of Iraq (MENA)
Foursan Group, a private equity firm primarily focused on the Middle East, has completed investments in Jordan-based solar energy project Shamsuna Power, Jordan-based freight management company Nafith Logistics and Iraq-listed private sector bank National Bank of Iraq (NBI). The transactions were structured through Foursan Capital Partners I. Foursan now holds an 85 percent stake in Shamsuna Power, which obtained a… Read More
iTech Capital Invests US$10 Million in Russia-based MFMSolutions (CEE and CIS)
Russia-focused venture capital firm iTech Capital has invested US$10 million in Russia-based SMS marketing technology company MFMSolutions. The company’s technology allows customers to send high volumes of text messages, up to 10,000 per second or 25 billion per month. Its clients include banks, insurance companies, online and offline retailers and government agencies. Read More
RRJ Capital Invests US$50 Million for a Minority Stake in Jing King Technology Holdings (Asia)
Asia-focused private equity firm RRJ Capital is investing around US$50 million for a minority stake in China-based credit card manufacturer Jing King Technology Holdings. The company’s chairman and chief executive Lennon Tan will continue to hold a controlling stake. Jing King was previously owned by Southeast Asia-focused private equity firm Southern Capital Group before being bought out by management in… Read More
Amadeus Capital Partners Backs Bidu Holdings (Latin America)
Technology-focused venture capital firm Amadeus Capital Partners has led a BRL20 million (approximately US$8.9 million) Series B financing round in Brazil-based online insurance comparison platform Bidu Holdings. The transaction was structured through Amadeus IV Digital Prosperity Fund. Venture capital firm Monashees Capital, German media conglomerate Bertelsmann and investment firm Otto Capital Partners also participated in the round. The company intends… Read More
Harvest Capital Completes Fundraising for Two Vehicles, Invests in Boloni and Hunan Tea (Asia)
China-focused private equity firm Harvest Capital has closed its second USD-denominated vehicle, Greater China Motivation Fund Phase I, with US$300 million in capital commitments. The firm has also completed fundraising for an RMB-denominated vehicle, Hexing (Tianjin) Equity Investment Fund, with RMB500 million (approximately US$81 million) in capital commitments. Investors in the USD-denominated fund include Agricultural Bank of China’s investment arm… Read More
Lok Capital Partially Exits RuralShores Business Services (Asia)
Venture capital firm Lok Capital has partially exited its investment in India-based rural business process outsourcing firm RuralShores Business Services by selling its stake to an unnamed buyer. The transaction was structured through Lok Capital Fund I. Lok Capital made a reported 6x return in INR on the investment, and remains invested in the company through a separate fund. Lok… Read More
Alibaba Group and Yunfeng Capital to Invest US$1.2 Billion in NYSE-listed Youku Tudou (Asia)
Internet-based e-commerce business Alibaba Group and private equity firm Yunfeng Capital will invest US$1.2 billion in New York Stock Exchange-listed and China-based internet television company Youku Tudou through a joint venture vehicle. Post-transaction, Alibaba and Yunfeng will hold a 16.5 percent stake and a two percent stake, respectively, in the company. The transaction is subject to customary closing conditions. Read More
Zoyi Capital Invests in Souvenir Shop and Pineapple Cake Bakery Vigor Kobo (Asia)
China- and Taiwan-focused investment firm Zoyi Capital has invested in Taiwan-based Vigor Kobo, a souvenir shop and pineapple cake bakery. The company has identified further growth potential via a cross‐border souvenir business model catering to tourist locations in China and intends to work with Zoyi to expand Vigor Kobo’s footprint throughout the region. Financial details of the transaction were not… Read More
Leopard Haiti Fund Invests in NUtv (Latin America)
Frontier markets investment firm Leopard Capital has invested US$2.5 million for a minority stake in Haiti-based Digital Satellite Systems, the owner and operator of prepaid television service NUtv. The transaction was structured through Leopard Haiti Fund. NUtv intends to use the investment to enhance its existing network and expand its coverage, supporting Haiti’s transition from analog to digital television. Read More
CVC Capital Partners Completes an Investment in Restaurant Chain South Beauty (Asia)
Private equity and investment advisory firm CVC Capital Partners has completed an investment in China-based restaurant chain South Beauty Investment Company. After obtaining approval from relevant regulatory authorities, CVC is now the major shareholder of the company. CVC’s investment will help South Beauty drive greater economies of scale and increase operational efficiency, supporting management in areas such as upgrading their… Read More
ARIF Fund to Invest in 120 MW Wind Project in Morocco (MENA)
Infra Invest, a management company for investment funds specializing in infrastructure projects in Africa and a subsidiary of asset manager RMA Capital, has reached an agreement with UPC North Africa Renewables, part of wind energy project developer and operator the UPC Group, to acquire a 25 percent ownership position in the 120 MW Jbel-Sendouq (Khalladi) wind farm near Tangiers, Morocco.… Read More
Mekong Capital and CDH Partially Exit Mobile World (Asia)
Vietnam-focused private equity firm Mekong Capital, structured through Mekong Enterprise Fund II, has sold 5.6 million shares of Vietnam-based mobile device retailer MobileWorld Investment Corporation (Mobile World) at VND85,000 (approximately US$4) per share, equivalent to nine percent of the company’s issued shares, in a pre-listing share placement for a total consideration of VND480.2 billion (approximately US$22.8 million). Including dividends, this… Read More