Global private equity fund manager Cathay Capital Private Equity has reached a first close for its second venture fund, Cathay Innovation Fund II, with EUR320 million (approximately USD359 million) in capital commitments. Investors in the fund include Bpifrance, Groupe ADP, Groupe SEB, Michelin, and Valeo—all of which previously committed to… Read More
China-based cosmetics and skin care products supplier Guangdong Marubi Biotechnology has raised CNY841 million (approximately USD122 million) in its initial public offering (IPO) on the Shanghai Stock Exchange. The company sold 41 million shares at a price of CNY20.5 per share (USD2.98) in the offering. Marubi is backed by global… Read More
India-based scooter rental company Bounce has secured USD72 million in a Series C funding round led by global venture investor B Capital Group and alternative asset manager Falcon Edge Capital. Other participants in the round include Sequoia Capital, Accel Partners, Chiratae Ventures, Qualcomm Ventures, Maverick Ventures, and Omidyar Network. Bounce,… Read More
Africa-focused private equity fund manager AfricInvest has acquired an additional 3 percent stake in Nairobi Stock Exchange-listed financial services group Britam for KES273 million (approximately USD3 million), bringing its total stake in the company to 18 percent. Britam provides insurance, banking, and asset management services across Eastern and Southern Africa. Read More
Hansoh Pharmaceuticals, a China-based drug developer, has completed its initial public offering on the Hong Kong Stock Exchange, selling 551 million shares at HKD14.26 per share, generating gross proceeds of HKD7.9 billion (approximately USD1 billion). Existing private investors Boyu Capital and Hillhouse Capital retained their stakes of 3.29 percent and… Read More
Southeast Asia-focused private equity firm Asia Partners Fund Management has reached a first close for its debut fund with approximately USD70 million in commitments. The fund will focus on providing growth capital to Southeast Asian technology companies in sectors such as travel, e-commerce logistics, and enterprise software. The expected ticket… Read More
Old Mutual Private Equity (OMPE), a division of Africa-focused asset manager Old Mutual Alternative Investments, has agreed to acquire a majority stake in South Africa-based shoe retailer Footgear. Founded in 2001, Footgear sells its branded footwear in 63 stores across South Africa. The investment will provide Footgear with strategic support,… Read More
Morocco-focused venture capital fund manager MITC Capital has sold its stake in on-demand transportation services provider Ma-Navette to Glen Invest, a Morocco-focused investment holding company. MITC originally invested in Ma-Navette, which manages a fleet of 130 vehicles in Morocco, in 2015 through Maroc Numeric Fund. Financial details of the transaction… Read More
Pan-African private equity fund manager Emerging Capital Partners (ECP) has agreed to acquire a majority stake in Mauritius-based Inter Africa Transport Forex through its fourth flagship fund. The financial technology company provides a platform that enables transportation and shipping companies to procure, manage, and track their expenditures across 11 countries. Read More
South Korea-based online travel platform Yanolja has raised USD180 million in a Series D funding round from Singaporean sovereign wealth fund GIC and online travel group Booking Holdings. Yanolja and Booking Holdings have also entered into a strategic partnership that will allow their respective customers to access both services. Previous… Read More
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