India-based business-to-business e-commerce portal Udaan has raised USD585 million in a Series D funding round from corporate investors Tencent Holdings and Citi Ventures, as well venture capital fund managers Altimeter Capital, Footpath Ventures, Hillhouse Capital Management, GGV Capital, Lightspeed Venture Partners, and DST Global. Udaan plans to use the new… Read More
China-based sports apparel company Topsports International has raised HKD7.9 billion (approximately USD1 billion) through an initial public offering (IPO) on the Hong Kong Stock Exchange. The company sold 930 million shares at a price of HKD8.50 (USD1.08) per share in the IPO. Topsports, which is backed by China-focused private equity… Read More
Mexico-based job search platform Worcket has received a USD1.5 million seed investment from Latin America-focused early-stage investor NXTP Labs. The company uses artificial intelligence, big data, and machine learning technologies to provide human resources departments with a digital recruiting service available on the cloud. Worcket will use the new funding… Read More
Venture capital fund managers Gobi Partners and Khwarizmi Ventures have led a pre-Series A investment in UAE-based online marketplace Melltoo. Other participants in the funding round include venture capital firm Shorooq Partners and angel investors such as Al Elm Company founder Dr. Khalid Al-Tawil. Khwarizmi Ventures is the corporate venture… Read More
A consortium led by global alternative asset manager Blackstone has completed the acquisition of a 60 percent stake in Baltics-focused Luminor Bank for EUR1 billion (approximately USD1.1 billion). The consortium, which also includes a wholly owned subsidiary of Emirati sovereign wealth fund Abu Dhabi Investment Authority, acquired the majority stake… Read More
Africa-focused private investment fund manager Amethis has sold its stake in Ivory Coast-based consumer product marketing company Compagnie de Distribution de Côte d’Ivoire (CDCI) to Retail Holding, a Morocco-based collection of retail brands. Amethis and Retail Holding first invested in CDCI in December 2014. Financial details of the transaction were… Read More
Africa-focused evergreen investment company Tana Africa Capital has agreed to invest MAD200 million (approximately USD20 million) in the red fruits subsidiary of Palmagri, the agricultural division of Morocco-based conglomerate Palmeraie Holdings Group. Through the transaction, Tana Africa will secure a minority stake in Palmagri’s subsidiary and nominate a director to… Read More
China-focused venture capital fund manager INCE Capital has reached a final close for its first fund with USD351.9 million in capital commitments. Investors in the fund include endowments affiliated with the University of Pittsburgh, Duke University, and Carnegie Mellon University; insurance company C.V. Starr; non-profit organizations Dietrich Foundation and Mayo… Read More
India-based online cancer care company Onco has raised USD7 million in a Series A financing round from venture capital fund managers Accel Partners and Chiratae Ventures, as well as strategic consulting and investment firm Dream Incubator. Through its online platform, Onco provides cancer patients with treatment advice and connections with… Read More
Tell Group, a private equity and corporate advisory firm focused on Europe, the Middle East, and North Africa, has led a USD4 million Series A financing round for Algeria-based ride-hailing and delivery platform temtem. The company plans to use the new capital to accelerate its growth and launch new products,… Read More
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