15 May 2024
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Q1 2024 GPCA Industry Data & Analysis

GPCA’s Q1 2024 Industry Data & Analysis, featuring in-depth data, commentary and analysis on key trends across global markets, is now available as a benefit for GPCA Members.

Key data takeaways:

Overall private capital investment across GPCA’s markets – including Asia, Latin America, Africa, CEE and the Middle East – remained on par with the past two quarters, as investors deployed USD21.5b across 775 disclosed transactions in Q1.

As digitalization continues to reshape GPCA’s markets, investors have deployed more than USD25b toward developing and servicing data centers and telecom towers since 2021, ensuring sustainable long-term growth.

Highlighting the growing importance of digital infrastructure in Southeast Asia, KKR announced a USD400m follow-on investment in Philippines-based Pinnacle Towers in Q1 to support the development and acquisition of 2,000 additional towers across the country. Meanwhile, Singapore-based GDS International secured USD587m to fuel data center development and operations outside of Mainland China.
In CEE, an Actis-led consortium acquired 1,800 macro towers across Serbia, Bosnia & Herzegovina and Montenegro in a portfolio carve-out from Telekom Srbija.

For questions and feedback or to request custom data cuts from the research team – including GPCA’s complete fund- and deal-level dataset – contact research@gpcapital.org.

ACCESS DATA

Crescera Capital

Priscila Rodrigues, Senior Partner

#MemberProfiles

GPCA recently spoke with Priscila Rodrigues, Senior Partner at Crescera and Latin America Council Chair at GPCA, about the firm’s investment outlook.

READ PROFILE

GPCA Training Email Header (1200 x 310 px)

Training on Trends in Fundraising
and Secondaries

21 May | Hong Kong

#GPCAEvents

GPCA and HKVCA will be hosting an Investor Training on Tuesday, 21 May at Debevoise & Plimpton in Hong Kong from 9:30 am-12 pm, after the HKVCA China Private Equity Summit, a GPCA partner event in Hong Kong.

The training will comprise the following sessions:

Session 1: Trends in the Current Fundraising Environment with Nick Thorn (Managing Director, EQT Group), Thomas Swain (Managing Director, Jefferies

Private Fund Group), Joe Chang (Principal, AlpInvest) and Shawn Yang (Partner, Debevoise & Plimpton)
Session 2: GP-Led Secondaries with Timothy Huang (Partner, Lexington Partners), Jude Wong (Director, Lazard), Martin Yung (Principal, HarbourVest Partners) and Shawn Yang (Partner, Debevoise & Plimpton)

The training is complimentary for GPCA and HKVCA Members. A USD130 fee applies for non-member firms. Register now as space is limited.

If you have any questions about the program details, please contact Felicia Chia at fchia@gpcapital.org.

REGISTER NOW

INVESTMENTS

► GIC led USD105m Series C for Atlan, a Singapore-founded data and AI governance platform, with participation from Meritech Capital, Insight Partners and Waterbridge Ventures, as well as follow-on from Salesforce Ventures and Peak XV Partners. #Asia

► Openspace Ventures led a Series B for Fano Labs, a China-based startup leveraging AI to develop speech and natural language processing solutions, with participation from HSBC, Greater Good Investment, as well as follow-on from Horizon Ventures and Saltagen Ventures. Fano Labs will use the funding to expand into the APAC market and establish a Singapore office. #Asia

► Jeeves, a US-based B2B payments and corporate card platform, secured a USD75m credit facility from Community Investment Management. The financing will be used to scale Jeeves’ financial product suite in Brazil, Colombia and Mexico. #LatinAmerica

► Brookfield Asset Management acquired a 10% stake in Brazil-based integrated logistics operator VLI from Mitsui. Brookfield now holds a 36.5% stake in the company. #LatinAmerica

► Plata, a Mexico-based financial services startup, secured a USD100m credit facility from Fasanara Capital. #LatinAmerica

► TaiDoc Health, a China-based telehealth platform, raised a CNY920m (~USD127.3m) round from SIG Asset Management and Mitsui Sumitomo Insurance, with follow-on capital from HongShan and China Pacific Insurance. #Asia

► GEF Capital Partners invested INR5.8b (~USD69.5m) in TI Clean Mobility, an India-based manufacturer of electric three-wheelers for logistics and passenger transportation. #Asia

► Quadria Capital invested INR8.5b (~USD102m) in NephroPlus, an India-based dialysis service network, providing a partial exit for Investcorp. #Asia

► Accel led a USD4m seed round for Swypex, an Egypt-based financial management platform for businesses, with participation from Foundation Ventures, The Raba Partnership and others. #Africa

FUNDRAISING

► IvyCap Ventures reached a INR21b (~USD252m) final close for its third early-stage fund focused on seed and Series A investments in India. #Asia

► TPG has closed TPG Asia VIII with USD5.3b in capital commitments, marking the firm’s largest Aisa-dedicated fund to date. TPG also secured USD2.5b for a pair of real estate funds - TPG AG Asia Realty V and TPG AG Japan Realty Value. #Asia

EXITS

► Confrapar exited JobConvo, a Brazil-based applicant tracking software company, to Senior Sistemas, a Brazilian management software firm. #LatinAmerica

► Apis Partners fully exited its stake in Adumo, a South Africa-based payments platform, through a strategic sale to Lesaka Technologies for ZAR1.59b (~USD85.9m). #Africa

► Ontario Teachers’ Pension Plan (OTPP) partially exited its stake in Multiplan, a Brazil-based public mall operator. OTPP continues to hold an 18.5% stake in the company. #LatinAmerica

► AfricInvest partially exited its stake in One Tech, a Tunisia-based electrical equipment manufacturer and services provider, for TND8m (~USD2.6m). #Africa

► Navis Capital Partners fully exited its remaining 20.5% stake in SEG International (SEGi), a Malaysia-based education group, for MYR113m (~USD23.7m) through a sale to SEGi managing director Clement Hii. #Asia