27 August 2025
View in browser

GPCA RESEARCH

Mid-Year Update on Private Capital Markets

GPCA’s Mid-Year 2025 Industry Data & Analysis features in-depth data, commentary and analysis on key trends across global markets.

Highlights:

Private capital investment value across GPCA markets – including Asia, Latin America, Africa, CEE and the Middle East – rose 33% to USD72.3b in 1H 2025, even as deal count continued to slow.
Amid a global backdrop of interest rate volatility and tighter lending from traditional banks, private credit is emerging as a critical alternative financing source. Investors deployed USD11.7b, putting the asset class on track for a record year.

GPCA Members can log in to download the Excel file for more data.

For questions and feedback or to request custom data cuts from the research team, please contact research@gpcapital.org.

VIEW FULL REPORT

GPCA NEXT GEN PARTNERS

First Cohort Graduates, Second Cohort Announced

GPCA is pleased to announce the graduation of the first cohort from GPCA Next Gen Partners and welcome 19 new participants to the second cohort. This global peer networking and leadership program is designed for rising talent in private capital.

Next Gen participants build community, connect with some of the most successful and influential private capital investors globally and develop interpersonal and leadership skills within a curated cohort. Participants have the opportunity to engage in in-person events in London, New York and Singapore as well as virtually.

Participating Firms

AC Ventures, ACON Investments, Actis, Advent, Ascent Capital, Asia Business Builders, Gazelle Finance, Global Ventures, HELIOS, Horizon Capital, Insitor, Joliba Capital, KKR, LeapFrog Investments, LightRock, Linzor Capital Partners, monashees, Monk's Hill Ventures, Navegar, Navis Capital Partners, PAG, Patria Investments, Quona Capital, responsAbility, Sarona Asset Management, Siguler Guff, SPE Capital, Turkven

The 2025 cohort of Next Gen Partners is supported by grant funding from FMO in partnership with GPCA, with scholarship support from Investing in Women.

GPCA EVENTS

Recap: Singapore Investor Training

GPCA's Gender-Informed Decision Making as a Growth Strategy training on 19 August had a singular focus: to examine whether female representation at all levels within an organization can drive stronger financial performance, better decision-making and more inclusive growth.

Key takeaways:

Beyond having women in leadership roles, LPs increasingly expect GPs to incorporate gender considerations throughout investment firms and portfolio companies, from policies to practices.
LPs say clear, detailed gender reporting is essential for credibility and aligns with emerging frameworks like the 2X Challenge, IRIS+ and DEI Gold Standards.

data_room___lp_intelligence_nw_banner__1_

Industry News

INVESTMENTS

► IDB Invest, IFC, Finnvera, JP Morgan and others invested USD2.2b in Celulosa Arauco's Sucuriú Greenfield Project, focused on developing a pulp mill in Brazil. #LatinAmerica

► BTG Pactual and BCI invested USD700m in Klabin's timberland assets in southern Brazil. #LatinAmerica

► Premji Invest and Lightspeed led a USD170m investment in India-based housing finance company Weaver Services, with participation from Gaja Capital. #Asia

► General Atlantic invested BRL640m (~USD115m) in Starian, a Brazil-based software provider for the private sector. #LatinAmerica

► Colombia-based delivery platform Rappi raised USD100m in debt financing from Banco Santander and Kirkoswald Capital Partners. #LatinAmerica

► QED Investors led a USD80m Series B for Turkey-based commission-free trading platform Midas, with participation from IFC, HSG, QuantumLight and others. #CEE

► Sanabil Investments led a USD72m Series B for Saudi Arabia-based vacation rental platform Gathern, with participation from Endeavor Catalyst, STV, Pinnacle Capital and others. #MiddleEast

► Ezdehar Management acquired a majority stake in Kemet, an Egypt-based savory snacks company. #Africa

► The Wealth Company Asset Management invested INR4.6b (~USD52.7m) in Amnex InfoTechnologies, an India-based tech solutions provider for high-impact sectors. #Asia

► Legend Capital and IDG led a USD42m Series A for BCIFlex, a China-based brain-computer interface system, with participation from China Life Capital and Beijing Pharmaceutical and Healthcare Industry Investment Fund. #Asia

► Riverwood Capital led a USD35m round for AgendaPro, a Chile-based management software for beauty salons, physicians and sports centers. #LatinAmerica

► Novastar Ventures led a USD9m Series A for Nigeria-based food delivery platform Chowdeck, with participation from Y Combinator, AAIC Investment, Rebel Fund and others. #Africa

► TNB Aura led a USD7m Series A for Nibertex, a Singapore-based deep-tech manufacturer of textile membranes, with follow-on from Asian Development Bank, Faircrest Holding and Foxmont Capital Partners. #Asia

► AfricInvest-managed Maghreb Private Equity Fund IV invested MDH30m (~USD3.3m) in Land'Or Maroc Industries, a Morocco-based subsidiary of the Tunisia-based food manufacturer Land'Or. #Africa

FUNDRAISING

► Africa50 reached a USD118m first close for its Alliance for Green Infrastructure in Africa Project Development Fund, which is focused on energy transition and climate resilient investments across Africa. #Africa

► Artha India Ventures reached a INR4.32b (~USD49.6m) final close for its Select Fund focused on investing in top-performing companies in India from the firm’s existing portfolios. The vehicle exceeded its INR3.3b (~USD37.7m) target. #Asia

EXITS

► China-based agricultural B2B platform Yimutian raised ~USD20.5m through an IPO on the Nasdaq. #Asia

► CVC Capital Partners fully exited Tidlor Holdings, a Thailand-based microfinance company. #Asia

► Aura Private Equity has arranged a USD6m partial secondary sale of LP interests in a vehicle backing Singapore-based fitness center operator Inspire Brands Asia. #Asia