New CEE Private Capital Report; KKR Reached USD6.4b Final Close for Asia Pacific Infrastructure Investors Fund II

7 February 2024
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Private Capital in CEE

#GPCAResearch

GPCA released its latest report, Private Capital in CEE: Building Businesses Against the Backdrop of a War.

For private capital investors in Central & Eastern Europe (CEE), the economic and geopolitical developments of the last several years – including Russia’s invasion of Ukraine – have presented a unique set of challenges, particularly around the international perception of the region. Yet even against the backdrop of the war and a more uncertain global environment, fundamentals remain strong across most CEE economies. Moreover, the structural drivers of investment opportunity in the region – including EU convergence, regional integration and tech talent – are intact.

This report takes a closer look at recent private capital trends in CEE and the broader environment for dealmaking. Commentaries from fund managers and allocators point to gaps between perception and reality – and the enduring strength of private capital-backed businesses in the region.

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GPC Conference 2024

25-27 March | Conrad New York Downtown

#GPCAEvents

GPCA's  Global Private Capital Conference in partnership with IFC will convene on 25-27 March at the Conrad New York Downtown.

Selected program highlights and participating firms include:

Breakthrough Energy Ventures on Funding Innovative Climate Solutions
Beyond the Buzz: The Growth of Private Credit with Kotak Alternate Asset Managers and Vinci Partners
Actis and Alcazar Energy on How is the Energy Transition Translating Into Returns
Reorganizing Global Supply Chains with Innova Capital and Vietnam Investments Group
Fajr Capital on its billion-dollar deal for Aster DM Healthcare
Disrupting Traditional Banking Systems with Blume Ventures, EBANX and Quona Capital
And more….

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GPCA at MEVCA Investors Summit

31 January 2024 | Abu Dhabi

#IndustryEvents

GPCA's CEO Cate Ambrose joined Middle East institutional partner MEVCA for the MEVCA Investors Summit in Abu Dhabi on 31 January. Cate led a panel of local early-stage investors in a discussion on 'Building a Significant VC in an Emerging Ecosystem' and met with GPCA Members, SWFs and other investors in UAE and Saudi Arabia during her trip.

INVESTMENTS

► IFC provided USD125m in debt financing for Tata Capital, the financial services arm of India-based conglomerate Tata Group. #Asia

► Resource Partners agreed to acquire a significant stake in Flex To Go, a Poland-based car rental agency. #CEE

► CICC Capital and Haitong New Energy Private Equity Management led a CNY500m (~USD70.4m) Series D for Advanced Materials Technology & Engineering, a China-based developer of semiconductor front-end processing equipment, with participation from Hongtai Aplus, Svolt Capital and others. #Asia

► Matrix Partners led a USD50m round for Krutrim, an India-based AI platform. The round values Krutrim at USD1b, making it the first Indian unicorn in 2024. #Asia

► Riverwood Capital invested ~USD33m in Amigo Tech, a Brazil-based digital accounting and backend management platform for clinics and doctors. #LatinAmerica

► Bessemer Venture Partners led a USD31m Series B for Incognia, a Brazil-based geolocation data platform for credit origination, with participation from FJ Labs and follow-on from Valor Capital Group, Prosus Ventures, Point72 Ventures and Unbox Capital. #LatinAmerica

► Impact investor Blue Earth Capital provided USD20m in debt financing for Bayport Colombia, a financial institution specializing in personal credit and insurance for underserved communities. #LatinAmerica

► Sony Africa Innovation Fund announced a strategic investment in Carry1st, a South Africa-based game publisher and digital commerce platform. #Africa

► ARCH Sustainable Resources Fund invested USD10m in Giyani Metals, the developer of the K.Hill battery-grade manganese project in Botswana. #Africa

► Saudi Arabia-based English learning platform iStoria raised a USD1.3m seed round from Nama Ventures, Classera, Flat6Labs, BIM Ventures and other angel investors. #MiddleEast

FUNDRAISING

► KKR reached a USD6.4b final close for its second Asia Pacific Infrastructure Investors fund. KKR closed its inaugural Asia-Pacific infrastructure fund at USD3.9b in 2021. #Asia

► 3TS Capital Partners reached a EUR111m (~USD120m) final close for its fourth flagship fund focused on rapidly growing technology companies in Central & Eastern Europe. #CEE

► Practica Capital reached a EUR80m (~USD86.7m) final close for its third venture fund focused on equity and quasi-equity investments in seed-stage technology-driven companies in Estonia, Latvia and Lithuania. The European Bank for Reconstruction and Development (EBRD) committed EUR10m (~USD11m) to the fund. #CEE

EXITS

► Carlyle agreed to exit Amecor, a South Africa-based designer, manufacturer and distributor of security communication equipment, via a sale to ASSA ABLOY Group. #Africa