16 August 2023
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GPCA Southeast Asia Members Meeting & Singapura Sundown Reception

#SoutheastAsia

Join the global GPCA Member community and special invited guests for the annual Singapura Sundown Reception at the iconic rooftop lounge CÉ LA VI on 21 September 2023.

The reception will be preceded by the Members Meeting with LP panelists including Edward J. Grefenstette, CIO at The Dietrich Foundation and Craig Thorburn of Future Fund among others.

If you have any questions about the program or meeting details, please contact Jia Xin Ong at jxong@gpcapital.org.

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Nominations Open for GPCA Better Tech Award 2023

The 2023 GPCA Better Tech Award seeks to identify a high-growth company leveraging technology to provide breakthrough solutions and measurable positive impact in Asia, Africa, Latin America, CEE and/or the Middle East.

The inaugural 2022 GPCA Better Tech Award was won by India-based Tricog Health, nominated by GPCA Member Blume Ventures. Tricog is an India-based healthtech providing remote cardiac diagnosis and care coordination in healthcare centers across India, Southeast Asia and Africa.

Interested GPCA Member investors are welcome to submit an application before 25 August or contact Carlos Ramos de la Vega and Alex Fichter at bettertechawards@gpcapital.org with any questions.

INVESTMENTS
► ADQ provided USD100m in convertible debt to Loft, a Brazil-based residential property marketplace. #LatinAmerica

► Moove, a Nigeria-based vehicle financing platform for rideshare workers, raised USD76m in new funding. This included USD28m in equity led by Mubadala Investment Company, USD10m in venture debt from BlackRock and USD38m of previously undisclosed funding. #Africa

► Leadsynbio, a China-based synthetic biotechnology company, raised a CNY100m+ (~USD13.9m+) Series D from Lilly Asia Ventures and Sherpa Healthcare Partners. #Asia

► Cathay Capital Private Equity led a USD10m+ Series A for Mogic AI, a China-based automated adtech platform, with follow-on from ZhenFund. #Asia

► Cultivation Capital led a EUR1.8m (~USD2m) round for Satim, a Poland-based provider of object detection software for satellite imagery, with participation from Verissimo Ventures, The Flying Object, Everywhere Ventures, Hustle Fund and Startupist Ventures. #CEE

► Sanlam Private Equity acquired a majority stake in Danny's Auto Body Parts, a South Africa-based aftermarket automotive parts and accessories supplier. #Africa

► Ibtikar Fund invested in DataQueue, a Palestine-based AI data training company. #MiddleEast

► Studenac, a Croatia-based retail chain backed by Enterprise Investors, acquired Spar Trgovina, a retail chain with 40 stores. #CEE

FUNDRAISING
► GEF Capital Partners reached a BRL1.05b (~USD214m) final close for GEF LatAm Climate Solutions Fund III. The fund will invest in middle-market companies focused on opportunities addressing climate change and pollution in Brazil. #LatinAmerica

EXITS
► General Atlantic fully exited 360 ONE (formerly IIFL Wealth Management), an India-based wealth and alternates-focused asset management firm, by selling its remaining 1.16% stake. General Atlantic sold a 3.55% stake in December 2022. #Asia

► Baring Private Equity Asia sold a 19.4% stake in India-based cash management and payment solutions provider CMS Info Systems via a share sale on the BSE for INR10.7b (~USD129.1m). #Asia

► Bain Capital and Advent International exited Quest Global, a Singapore-based engineering services company, through a secondary sale to The Carlyle Group. Bain and Advent first invested in the company in 2016. #Asia