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Industry News

VU Security Raises US$4.3 Million Series A Round from INICIA and NXTP Labs (Latin America)

Posted On: 22 Mar 2017  |  Source(s): NXTP Labs

Argentina-based cybersecurity solutions company VU Security has raised US$4.3 million in a Series A round led by Latin America-focused private asset management firm INICIA, with participation from seed fund and accelerator NXTP Labs. VU plans to use the funds to expand its team and presence in the region. NXTP Labs originally invested in VU in the company’s seed round in 2012.

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CDC Group and AgDevCo Invest US$11.5 Million in Jacoma Estates (Sub-Saharan Africa)

Posted On: 20 Mar 2017  |  Source(s): CDC Group, AgDevCo

Development finance institution CDC Group and Africa-focused agriculture social impact investor and project developer AgDevCo have invested US$11.5 million in Malawi-based agriculture developer Jacoma Estates. CDC will invest US$8 million in equity and AgDevCo will provide US$3.5 million structured as debt and preferred shares. Jacoma plans to use the funds to expand its farming operations in northern Malawi and to provide up to 100 hectares of irrigation to local smallholder farmers. The investment will be accompanied by a technical assistance grant to support the strengthening of the company’s environmental and social practices.

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DEG & African Development Bank Lead US$84 Million Loan for Berkeley-backed ARPE (Sub-Saharan Africa)

Posted On: 20 Mar 2017  |  Source(s): DEG

ARPE, a Uganda-based power project developer backed by emerging markets-focused fund manager Berkeley Energy and Italy-based construction company PAC, has received a US$84 million loan package to support the construction of a 42-megawatt hydroelectric plant in the Pader district of northern Uganda. The African Development Bank will commit US$19 million and a consortium of European development finance institutions led by DEG will provide the remaining US$65 million, of which DEG will contribute US$25 million. The consortium includes the Evangelical Bank-advised European Renewable Energy Fund for Emerging Markets (EREFEM), Belgian Investment Company for Developing Countries (BIO), the OPEC Fund for International Development (OFID) and the Emerging Africa Infrastructure Fund (EAIF), a joint public-private investment fund owned by the Private Infrastructure Development Group and managed by Investec Asset Management.

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Ethos Exits Universal Industries to Rand Merchant Bank-led Consortium (Sub-Saharan Africa)

Posted On: 19 Mar 2017  |  Source(s): Africa Capital Digest

RMB Corvest and RMB Ventures, investment arms of South Africa-based Rand Merchant Bank (RMB), together with South Africa-based Mineworkers Investment Company, have acquired South Africa-based industrial equipment manufacturer Universal Industries, giving Africa-focused alternative investment firm Ethos a full exit from the company. Ethos originally invested in Universal Industries in 2011 through Ethos Fund V. Financial details of the transaction were not disclosed.

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PAG Asia Capital Leads US$100 Million Series C Round for Mychebao (Asia)

Posted On: 17 Mar 2017  |  Source(s): Mychebao, Asian Venture Capital Journal | Author(s): Winnie Liu

PAG Asia Capital, the private equity arm of Asia-focused alternative investment management firm PAG, has led a US$100 million Series C round for China-based online used-car auction platform Mychebao. The company, also known as Chezhibao, will use the funds to provide financial, logistics, cloud technology and car evaluation services to user-car retailers. Concurrently, the company also announced the completion of the acquisition of China-based high-end used-car trading platform Youyiche, which will operate under the Mychebao brand.

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