5 June 2024
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New GPCA Program: Next Gen Partners

On 30 May, GPCA launched Next Gen Partners, a leadership program designed to connect investment professionals on the partner track across various geographies. This global peer networking platform enables rising talent to build a community and gain access to insights from some of the most successful and influential private capital investors worldwide.

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Beacon Fund | MindX

GPCA Deal Book: Inclusive & Sustainable Growth

#DealCases

In November 2021, the Beacon Fund invested in MindX Technology School, a Vietnam-based institution that offers online and in-person courses to advance technology education for children and adults. The company’s classes focus on computer science, software development and data analytics from beginner to advanced levels.

With Beacon's support, MindX launched 18 new centers in 2022 and grew revenue by 88% while remaining cash-flow positive. The company also implemented a gender-focused due diligence process and hired more women on the product development team. As a result, female enrollment increased from 13% in the fourth quarter of 2021 to 51% in the fourth quarter of 2022, and this parity has continued into 2023.

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Final Chance to Submit: 2024 GPCA Deal Book and Awards

#DealAwards #DealBook

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 can 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

► Ecosystem Integrity Fund led a USD16m Series A for Iyris, a Saudi Arabia-based agritech company focused on optimizing greenhouse covers, with participation from Global Ventures, Dubai Future District Fund, Kanoo Ventures, Globivest and Bonaventure Capital. #MiddleEast

► InvAscent and Morgan Stanley acquired a controlling stake in India-based sterile injectables manufacturer Maiva Pharma for INR10b (~USD120m). #Asia

► Arpwood Partners agreed to acquire a majority stake in Sitara, an India-based provider of affordable housing finance, for INR6.8b (~USD82m). #Asia

► Delivery Hero Ventures led a USD16m Series A for OneOrder, an Egypt-based logistics platform for the hotel, restaurant and catering sectors. #Africa

► Turkven invested in Turkey-based e-learning platform Enocta. #CEE

► Al Mada Ventures led a USD7m pre-Series A for YoLa Fresh, a Morocco-based fresh produce B2B platform connecting farmers to retailers, with participation from Algebra Ventures, E3 Capital, Janngo Capital and FMO. #Africa

FUNDRAISING

► Sorin Investments reached a INR13.5b (~USD162m) final close for its maiden fund focused on tech investments in India. #Asia

► China-based HM Capital reached a USD100m final close for its maiden fund focused on disruptive early-to-mid-stage healthcare companies. #Asia

► Yellowstone Capital Partners, a firm based in Colombia and the US, launched its Yellowstone Credit Strategies Fund V, a US-focused debt fund. #LatinAmerica

EXITS

► General Atlantic and Ares SSG Capital Management partially exited their stake in India-based lender PNB Housing Finance for INR8.43b (~USD101m). #Asia

► Adenia Partners fully exited Ghana-based paint manufacturer Cresta Paints via a sale to Uhuru Investment Partners. #Africa

► Apis Growth, Roc Star Investment Trust and Mio IV Star fully exited their stake in India-based health insurance company Star Health and Allied Insurance for INR22.1b (~USD265m). #Asia