Euromena Exits North African Pharmaceutical Firm and Moroccan Retail Holding; MDI Novare Navegar Case Study

23 October 2024
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GPCA Investors Meeting

19 November 2024 | Hotel Café Royal, London

#GPCAEvents

Registration is open for the GPCA Investors Meeting on 19 November at Hotel Café Royal in London. Capped at 120 attendees, this one-day private meeting convenes a highly curated group of GPCA Member investors and global LPs for small-group discussions and one-on-one meetings to promote candid, peer-to-peer conversations between prominent private capital participants.

The day will open with a keynote discussion on the Institutional Investor Outlook for Private Markets featuring:

Institutional Investor Outlook for Private Markets

Other participating investors will include:

Charlie Bridgeland, Lexington Partners
Helen Steers, Pantheon
Nicolas Muller, Blue Earth Capital
Representatives of GPCA’s DFI Council
Other participants include: Aware Super, Actis, Cambridge Associates, Soros Economic Development Fund, CPP Investments, Ceniarth, Breakthrough Energy, Lightrock, Siguler Guff, L Catterton and Sackville Capital

A GPCA Members Reception, co-hosted by Debevoise & Plimpton, will be held the evening prior, on 18 November, for GPCA Members, global institutional investors and other invited guests.

For questions, please contact Megan Smith at msmith@gpcapital.org.

REGISTER NOW

Seedstars Africa | Beacon Power Services

GPCA Deal Book: Inclusive & Sustainable Growth

#DealCases

GPCA Deal Book Seedstars Africa Ventures, Beacon Power Services

In January 2022, Seedstars Africa Ventures invested in Beacon Power Services (BPS), a Nigeria-based developer of proprietary grid management software and data solutions for Africa’s power industry. BPS seeks to improve the reliability and quality of the continent’s energy supply through the creation of smart grids and by leveraging extensive data collected on the ground.

With Seedstars’ support, the population that BPS reaches through its clients has grown from eight million in January 2022 to over 60 million as of September 2023. The company expanded from working with one utility in Lagos to opening two more in Ghana. Seedstars has also pushed BPS to recruit more women across all levels of the company, recognizing that they are underrepresented in the energy industry. Over 30% of the staff is female, and BPS is striving to integrate more women on both the accounting and technology sides of the business.

READ FULL DEAL CASE

READ FULL DEAL BOOK

Investing in Infrastructure Report by Control Risks

GPCA Member Control Risks recently released its "Investing in Infrastructure Report," offering valuable insights on this complex landscape and providing practical advice on how to mitigate risk and increase the value of infrastructure investments.

Key topics include navigating land rights issues globally, trends and risks in digital infrastructure as an asset class, mitigating political exposure risks in consortia and how geopolitics has and will shape infrastructure investment.

DOWNLOAD REPORT

INVESTMENTS

► TPG’s The Rise Fund led a USD150m Series F for Eruditus, an India-based education platform for executive-level courses, at a reported USD3b valuation, with follow-on from Softbank, Leeds Illuminate, Accel and others. #Asia

► A subsidiary of Abu Dhabi Investment Authority led a INR15b (~USD180m) Series F for India-based beauty and skincare retailer Purplle, with participation from Sharrp Ventures, as well as follow-on from Premji Invest, and Blume Ventures and others. #Asia

► Vantage Capital and Eurazeo invested EUR81m (~USD88m) in Camusat, a telecommunications company operating across 15 countries in Africa. #Africa

► Raffles Family Office led an investment in Singapore-based digital healthcare provider WhiteCoat to support its acquisition of Indonesia-based telemedicine platform Good Doctor, with participation from MDI Ventures and SoftBank Vision Fund. #Asia

► Creation Investments and Syngenta Group Ventures led a USD53m Series C for Agrolend, a Brazil-based agribusiness credit platform. #LatinAmerica

► General Atlantic led a USD50m round for Jüsto, a Mexico-based online grocer. #LatinAmerica

► Ashmore invested in Liceo Pino Verde, a Colombian K-12 school known for its international academic curriculum. #LatinAmerica

► Blockchain Capital led a USD33m Series C for Yellow Card, a Nigeria-based crypto platform, with participation from Polychain Capital, Third Prime Ventures, Castle Island Ventures and others. #Africa

► Eight Roads Ventures led a USD30m Series B for Everstage, an India-based sales management platform, with follow-on from Elevation Capital and 3one4 Capital. #Asia

► Granite Asia led a USD8m Series A for Chickin, an Indonesia-based provider of livestock monitoring and financial services for poultry farmers, with participation from Integra Partners, ADB Ventures, 500 Southeast Asia and others. #Asia

► Franklin Templeton and Polychain Capital led a USD9m Series A+ for Bitlayer, a Singapore-based Bitcoin second-layer network, with participation from SCB, Selini Capital, G-20 Group and others. #Asia

► Lateral Frontiers and E4E Africa led a USD3.9m seed round for Octavia Carbon, a Kenya-based direct air capture (DAC) company, with participation from Catalyst Fund, Launch Africa, Fondation Botnar and Renew Capital. #Africa

FUNDRAISING

► Adams Street Partners reached a USD1.2b final close for its fourth Venture Innovation Fund focused on innovative and disruptive companies across a diverse portfolio of secondaries, venture fund investments and direct investments. #Global

EXITS

► Zabka, a Poland-based chain of convenience stores, raised PLN6.45b (~USD1.62b) through an IPO on the Warsaw Stock Exchange. CVC Capital Partners will remain the biggest shareholder with a ~40% stake. #CEE