22 May 2024
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GPCA in India

GPCA and the Indian Venture Capital Association (IVCA) co-hosted a gathering of member firms for a conversation with Tom Easton, India bureau chief of The Economist and author of the 27 April cover story on "How Strong is India’s Economy." IVCA Vice Chair Srini Sriniwasan of Kotak and GPCA CEO Cate Ambrose were joined by investors from Tata Capital, L Catterton, Eversource, Alteria, HDFC, Aavishkaar and NIIF for a dynamic discussion on what is working and what needs to change in India for finance and business to thrive.

In a separate event, Siguler Guff and General Atlantic co-hosted a dinner in Mumbai with GPCA for senior dealmakers from CPP Investments, Kotak, A91, Avanna, Norwest Venture Partners, OTPP, Blume Ventures and GEF Capital Partners. The Ideas Dinner, centered on catalyzing global capital into Indian private markets, spurred a wide-ranging discussion and a consensus that the opportunity has never been better for Indian investors to outperform.

Training on Trends in Fundraising and Secondaries

#GPCAEvents

On 21 May, GPCA and Hong Kong Venture Capital and Private Equity Association (HKVCA) co-hosted an Investor Training on Trends in Fundraising and Secondaries in Hong Kong.

Thank you to our faculty practitioners Nick Thorn (EQT Group), Martin Yung (HarbourVest Partners), Niklas Risberg (Lexington Partners), Shawn Yang (Debevoise & Plimpton), Jude Wong (Lazard), Thomas Swain (Jefferies) and Joe Chang (AlpInvest Partners) for leading the discussions.

Thank you to Debevoise & Plimpton for hosting the training.

Call for Participation: 2024 GPCA Deal Book and Awards

#DealAwards #DealBooks

GPCA is pleased to invite GPCA Member firms to participate in the 2024 GPCA Deal Awards and GPCA Deal Book. Both initiatives highlight fund managers who have achieved extraordinary investment outcomes in Asia, Africa, Latin America, Central & Eastern Europe and the Middle East.

The GPCA Deal Awards program recognizes investments across five categories:

2024 GPCA Environmental Sustainability Award (an exit is not mandatory)
2024 GPCA Social Impact Award (an exit is not mandatory)
2024 GPCA Gender/Diversity Award (an exit is not mandatory)
2024 GPCA Innovation Award (an exit is not mandatory)
2024 GPCA Deal of the Year Award (requires a partial or full exit)

Member firms have the option to submit one deal for consideration for the Deal Awards, Deal Book or both.

To request a submission form and submit a deal, please contact Toluwani Adedeji at tadedeji@gpcapital.org. All submission forms must be completed and received by 14 June 2024. Please visit the GPCA website for more information on the GPCA Deal Awards program, including the 2023 winners, as well as previous editions of the GPCA Deal Book.

Winners will be chosen by an independent panel of LP judges and announced at the GPCA Investors Meeting in London on 19 November 2024.

INVESTMENTS

► BOND led a ~USD78m Series B for CRMBonus, a Brazil-based marketing automation platform, with participation from Valor Capital, SoftBank, Riverwood Capital and Igah Ventures. #LatinAmerica

► SeaTown, a firm owned by Temasek-backed asset management group Seviora, led a USD40m investment in Linnovate Partners, a Singapore-based asset services provider. #Asia

► Bolt, an Estonia-based ride-sharing and food delivery app, raised a EUR220m (~USD235.7m) revolving credit facility from Barclays, BNP Paribas, Citi, Deutsche Bank, Goldman Sachs, JPMorgan, LHV Pank and Luminor. #CEE

► Rize, a Singapore-based agtech platform focused on sustainable rice cultivation, raised a USD14m Series A led by Breakthrough Energy Ventures, GenZero, Temasek and Wavemaker Impact. #Asia

► Keyper, a UAE-based real estate investment management platform, raised USD34m, with USD30m from Franklin Templeton Investments and a USD4m pre-Series A led by BECO Capital and Middle East Venture Partners. #MiddleEast

► Ventures Platform led a USD3.2m debt and equity round for Maad, a Senegal-based logistics platform for informal retailers, with participation from Seedstars International Ventures, Reflect Ventures, Oui Capital, Launch Africa, Voltron Capital and Alumni Ventures. #Asia

► Spire Capital acquired a majority stake in Poland-based chocolate company Chocolissimo. #CEE

► SQREEM Technologies fully acquired TotallyAwesome, a Singapore-based contextual digital advertising platform previously backed by Partners for Growth. #Asia

FUNDRAISING

► Accion launched its Digital Transformation Fund, a USD152.5m vehicle focused on financial institutions connecting SMEs and individuals to the digital economy in South and Southeast Asia, Latin America and Africa. #Global

► Golden Gate Ventures reached a USD20m first close for its USD100m fund focused on startups operating in the alternative energy, green technology, B2B AI, energy-related deep tech, fintech, healthtech and edtech sectors across the Middle East and North Africa. #MiddleEast

► Kadita Partners reached a USD100m+ first close for its maiden fund focused on real assets and infrastructure, energy security and transition, resources management and logistics sectors in Southeast Asia. The vehicle has a USD250m target. #Asia

EXITS

► Alterra Capital Partners acquired a significant stake in South Africa-based soft drink distributor Chill Beverages, facilitating an exit for Old Mutual Private Equity. #Africa

► IG4 Capital exited Iguá Saneamento, a Brazil-based sanitation company that IG4 established. #LatinAmerica