New GPCA Deal Book; Africa50 and AfricInvest Lead USD20m Round for Rwanda’s Africa Healthcare Network

29 November 2023
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GPCA Deal Book: Inclusive & Sustainable Growth

Fourth Edition

In this newest edition of the GPCA Deal Book, eleven cases from Member firms showcase impact across GPCA markets: a grid management software and data solutions provider helping African utilities deliver more reliable access to energy; an education platform bringing women into Vietnam's technology field; a bike-sharing company transforming the income potential of delivery workers in Latin America; a Polish fleet management solutions provider enabling local SMEs to become more efficient while complying with regulations; and a medical device manufacturer in India providing affordable orthopedic products to emerging consumers.

The GPCA Deal Book illustrates in practical terms the real impact of exemplary private capital investment in Asia, Latin America, Africa, Central & Eastern Europe and the Middle East.

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Openspace Ventures | Kumu

GPCA Deal Book: Inclusive & Sustainable Growth

In August 2019, Openspace invested in Kumu, a Philippines-based livestreaming company that is the first fully interactive social entertainment app in the country. The platform allows creators to stream content to audiences and monetize their work through virtual ‘gifts’ from viewers.

With Openspace's support, Kumu integrated an AI-driven content moderation solution that detects violence, solicitations, bullying and other hateful content. The content team has put extra focus on monitoring and addressing unwanted attention received by creators, especially women. Kumu’s ‘gifting’ model provided a source of income for its 1.3m content creators, particularly when traditional segments of the economy shut down during COVID-19 lockdowns. The number of financially successful creators in 2021 reached 15,000, about half of which are female, from just 280 in 2019.

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INVESTMENTS

► Africa Healthcare Network, a Rwanda-founded provider of dialysis services across Sub-Saharan Africa, raised a USD20m equity and debt round led by Africa50 and AfricInvest, with participation from Ohara Pharmaceutical. #Africa

► Panthera Growth Partners led a USD20m Series B for EMotorad, an India-based electric bicycle manufacturer, with follow-on from Alteria Capital, xto10x Technologies and Green Frontier Capital. #Asia

► Astella led a BRL30m (~USD6.1m) round for Destaxa, a Brazil-based sales management platform, with participation from Quona Capital, Supera Capital, Caravela Capital and Endeavor ScaleUp Ventures. #LatinAmerica

► Development Partners International and Verod Capital agreed to invest in Pan African Towers, a Nigeria-based digital infrastructure provider for the mobile telecoms industry. #Africa

► INVL Baltic Sea Growth Fund and Eco Baltia acquired a 70% stake in Metal-Plast, a Poland-based recycler of PVC window and door profiles. #CEE

► ESTELA, a digital compliance technology platform backed by Accel-KKR, acquired Chile-based software company DBNet and Peru-based software company DigiFlow. #LatinAmerica

FUNDRAISING

► Asia Business Builders reached a USD52m first close for its second fund focused on high-growth SMEs in Vietnam. #Asia

EXITS

► Carlyle agreed to sell its 28% stake in McDonald’s business in mainland China, Hong Kong and Macau back to McDonald's Corporation for USD1.8b. A consortium led by CITIC Capital will continue to hold the remaining 52%. #Asia