MENA
Sovereign investors and technology: Smart nations
Conservative sovereign wealth investors are increasingly comfortable making direct commitments to venture-oriented technology companies. The strategy appears to suit them but remains to be validated
Chinese GPs back Nigeria’s OPay
Nigeria-based online services platform OPay has raised a $50 million funding round with participation by a number of Chinese investors, including IDG Capital, Source Code Capital, Sequoia Capital China, Meituan-Dianping, and GSR Ventures.
Oman's Jabreen Capital buys stake in EastBridge
Oman-based private equity firm Jabreen Capital is expanding into Southeast Asia with the acquisition of a stake of undisclosed size in the Singapore division of Korean counterpart EastBridge Partners.
Investcorp: Into Asia
Investcorp entered the region last year through a fund commitment in China and the acquisition of an alternative investment platform in India. The firm’s top executives explain the rationale
Abraaj executives arrested on fraud charges
Two executives from The Abraaj Group, including founder Arif Naqvi, have been arrested on US fraud charges relating to the collapse of the growth markets-focused private equity firm.
Deal focus: Boomplay aspires to become Africa’s Spotify
Boomplay has leveraged demand for its Chinese parent's smart phones to become the leading music streaming platform in Africa. Maison Capital and Yunshi Capital were sufficiently impressed to back a $20 million Series A round
Saudi Arabia’s PIF commits $500m to China-Russia fund
Saudi Arabia’s Public Investment Fund (PIF) will invest $500 million into the Russia-China Investment Fund (RCIF), a vehicle established in 2012 by China Investment Corporation (CIC) and the Russian Direct Investment Fund (RDIF).
ADIA hires ex-KKR executive to lead India, SE Asia PE
The Abu Dhabi Investment Authority (ADIA) has hired Kabir Mathur, a former member of KKR’s Asia leadership team, to head its private equity investments in India and Southeast Asia.
Abraaj files for restructuring
The Abraaj Group – which has been under pressure since governance concerns emerged in February – has appointed provisional liquidators to work on a restructuring of the firm after a second creditor filed a petition seeking to recover unpaid debts.
Abraaj releases LPs from commitments to latest fund
The Abraaj Group is releasing investors from commitments made to its latest flagship fund – which targets growth markets in Asia and other regions – having previously decided to suspend the fundraising process in the wake of governance concerns.
Abraaj founder steps back as part of governance review
Arif Naqvi, founder of The Abraaj Group, has stepped back from the fund management business as part of changes to the firm’s governance and operating model. This comes after LPs expressed concerns that a healthcare fund had been misused.
Q&A: Samena Capital's Shirish Saraf
With its focus on Asia and the Middle East and a roster of big-name owner-shareholders, Samena Capital is a GP with a difference. Shirish Saraf, the firm’s founder and vice chairman, explains the strategy
Chinese GP to buy Camtek's printed circuit board business
Chinese private equity firm Principle Capital has agreed to buy the printed circuit board (PCB) business of Israel-based semiconductor component manufacturer Camtek for $35 million.
Japan's Softbank invests $100m in Cybereason
SoftBank Corp. has agreed to invest $100 million in a Series D funding round for Cybereason, a US-headquartered cybersecurity platform provider targeting expansion in Japan.
Warburg Pincus invests $300m in emerging markets TMT platform
Warburg Pincus has invested $300 million in Princeton Growth Ventures (Princeton GV), a telecom, media and technology (TMT) buy-out platform that seeks to acquire assets in emerging markets.
PE and Islamic finance: Underlying themes
Encouraging trends in population, social mobility, commodities, technology, and governance standards are converging on Islamic finance. PE plays a small role with strong upside in Asia
Hong Kong's AID Partners buys Israel's GeneSort
Hong Kong-listed private equity firm AID Partners has acquired Israel-based molecular diagnostics company GeneSort for $23 million.
Japan’s Orix to acquire 22% of PE-backed Ormat
Japanese financial services group Orix Corp. has agreed to buy a 22.1% stake in Israeli geothermal energy producer Ormat Technologies for $627 million from an investor group led by PE firm FIMI Opportunity Funds.
CMIG to create $15b One Belt One Road fund
China Minsheng Investment Group (CMIG), the largest privately-held investment group in China, has initiated a new fund that could raise up to $15 billion for investment in overseas projects under the government-backed "One Belt One Road" initiative.
GE Ventures backs Hong Kong digital logistics business
GE Ventures, the VC arm of General Electric, has led a $25 million extended Series B round of funding for Freightos, a Hong Kong-based logistics technology company. It brings total funding for the business to $50 million.
Hong Kong's Kerogen makes Israel energy investment
Kerogen Capital, a Hong Kong-headquartered GP specializing in international energy investments, has committed an initial $50 million to a planned $1.3 billion development in gas fields off the coast of Israel.
China’s CreditEase reaches $32m first close on Israel VC fund
Chinese asset manager CreditEase Wealth Management has reached a first close of $32.2 million on its second Israel-focused venture capital fund.
Israel's Yozma to invest $41m in Korean health tech start-ups
Israeli venture capital firm Yozma Group has agreed to invest KRW50 billion ($41.4 million) in Korean biotechnology and healthcare start-ups, starting in the first half of 2017.
XIO Group to acquire Israel's Meitav Dash for $387m
XIO Group, a PE firm founded by several Asia-based investment professionals with a view to buying companies in North America and Europe and helping them tap emerging market opportunities, has agreed to acquire Israeli investment firm Meitav Dash for ILS1.48...
