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Industry News

Morningside Venture Capital Reaches US$145 Million Final Close for First RMB Fund (Asia)

Posted On: 31 Mar 2017  |  Source(s): Asian Venture Capital Journal | Author(s): Winnie Liu

China-focused venture capital firm Morningside Venture Capital has reached a final close for its first RMB fund with CNY1 billion (approximately US$145 million) in capital commitments. Investors in the fund include Gopher Asset Management, CICC Qiyuan National New Industry Venture Capital Guidance Fund, Suzhou Guochuang Kaiyuan Fund, Huatai Merchants Capital Market Investment FoF, China Merchants Venture, Shengjing FoF and CreditEase Wealth Management. The fund will focus on early-stage investments in technology, media and telecom (TMT) companies.

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Actis Acquires 44.4 Percent Stake in GHL Systems, Creador Exits (Asia)

Posted On: 31 Mar 2017  |  Source(s): Actis, New Straits Times | Author(s): Farah Adilla

Global growth markets investor Actis has acquired a 44.4 percent stake in Malaysia-listed payments company GHL Systems for a reported MYR290 million (approximately US$66 million) from South- and Southeast Asia-focused private equity firm Creador and Simon Loh, executive vice-chairman of GHL. Actis also extended a mandatory takeover offer for the remaining shares of GHL. Creador originally invested in the company in 2013 through Creador II. GHL provides integrated payment services and solutions to traditional banks, telecom providers, retailers and airlines in Southeast Asia.

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True North to Acquire 40 Percent Stake in Kerala Institute of Medical Services for US$200m (Asia)

Posted On: 30 Mar 2017  |  Source(s): Private Equity International | Author(s): Carmela Mendoza

True North, an India-focused private equity firm formerly known as India Value Fund Advisors, has agreed to invest US$200 million for a 40 percent stake in India-based hospital chain Kerala Institute of Medical Services (KIMS). The deal will provide an exit to India-focused private equity firm Ascent Capital and health care-focused investment firm OrbiMed Advisors, which originally invested in the company in 2012. True North, which will invest through India Value Fund V, plans to support KIMS’ expansion of its operations in India and the Middle East.

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DOMO Invest Raises US$32 Million for Debut Fund (Latin America)

Posted On: 29 Mar 2017  |  Source(s): O Estado de São Paulo | Author(s): Renato Jakitas

Brazil-focused venture capital firm DOMO Invest has reportedly raised BRL100 million (approximately US$32 million) for its debut fund. Investors in the fund include Brazil-based family offices. The fund will target seed-stage companies in the technology sector in Brazil.

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Amazon to Acquire SOUQ.com from Tiger Global, Naspers, IFC, Others (MENA)

Posted On: 29 Mar 2017  |  Source(s): Amazon

Global e-commerce and technology company Amazon has agreed to acquire United Arab Emirates-based online retailer SOUQ.com from various investors including Tiger Global Management, Naspers, International Finance Corporation (IFC), Standard Chartered Private Equity (SCPE) and Baillie Gifford. SOUQ.com is an online retail and marketplace platform focused on the Arab world, with localized operations in Saudi Arabia, Egypt and United Arab Emirates. Financial details of the transaction, which is subject to closing conditions and expected to close in 2017, were not disclosed.

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