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.
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.
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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