India Resurgent Fund (IRF), a joint venture between Bain Capital Credit and India-based conglomerate Piramal Enterprises, has invested INR8 billion (approximately US$119 million) in India-based Archean Chemical Industries in a debt and equity transaction. IRF has reportedly acquired the existing loans of Archean from a group of public sector banks… Read More
Vietnam-focused private equity fund manager Mekong Capital has invested in Vietnam-based mattress and bedding retailer Vua Nem through Mekong Enterprise Fund III. With Mekong’s support, Vua Nem plans to merge its two existing brands, Dem.vn and Vuanem.vn, into the unified Vua Nem brand, build a new e-commerce website and expand… Read More
Middle East Venture Partners (MEVP) has invested in Bahrain-based real-time restaurant reservation platform Eat. The company offers restaurants an online reservation and table management system that enables users to reserve tables online. Financial details of the transaction were not disclosed. Read More
Global private equity fund manager Warburg Pincus has agreed to acquire a 26 percent stake in IndiaFirst Life Insurance from U.K.-based financial services provider Legal & General Group for INR7.1 billion (approximately US$105 million). Legal & General, Bank of Baroda and Andhra Bank founded IndiaFirst in 2009 as a joint… Read More
Pakistan-focused Ijara Capital Partners has acquired a 100 percent stake in Pakistan-based frozen food company Quick Foods Industries. The company principally operates under the Mon Salwa brand, offering a range of frozen meatballs, kebabs, burger patties and nuggets. Financial details of the transaction, which is the first completed by Ijara’s… Read More
Africa-focused investment manager Ashburton Investments has reached a first close for its inaugural mezzanine fund with ZAR507.5 million (approximately US$40 million) in capital commitments from four undisclosed investors. Ashburton Mezzanine Fund I, which is targeting ZAR1 billion (approximately US$79 million) in total commitments, will focus on South Africa with an… Read More
China-based artificial intelligence company SenseTime has raised a US$620 million Series C+ round valuing the company at more than US$4.5 billion. Investment firms Fidelity International, Hopu Investment Management, Silver Lake and Tiger Global Management led the round, which also included participation from Qualcomm Ventures and other financial and strategic investors. Read More
Accion Venture Lab, the seed-stage investment vehicle of financial inclusion-focused investor Accion, India-focused venture capital fund manager YourNest and several angel investors have jointly invested INR90 million (approximately US$1.3 million) in India-based fintech startup CredRight. CredRight provides credit to unserved and underserved micro-, small- and medium-sized enterprises. The company partners… Read More
U.S.-listed social game developer Zynga has acquired Turkey-based mobile game developer Gram Games, which is backed by Hummingbird Ventures, for US$250 million in cash. Zynga will also pay a three-year earn-out if Gram Games meets undisclosed financial targets. Hummingbird Ventures originally invested in Gram Games in 2012, when the company… Read More
Central and Eastern Europe-focused private equity fund manager Mid Europa Partners has agreed to invest in Poland-based JS Hamilton, a testing, inspection and certification company engaged in food, non-food, fuel and environmental testing, as well as cargo and engineering inspection. With Mid Europa’s support, JS Hamilton plans to broaden its… Read More
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