GPCA Asia Members Meeting Recap; Azalea Reaches USD262m First Close for Altrium PE Fund III

30 April 2025
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Alta Growth Capital | Grupo Industrial Artes Graficas

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Alta Growth Capital invested in Grupo Industrial Artes Graficas (AGH), a Mexico-based manufacturer of labels for consumer-packaged goods for the F&B, personal care and wine & spirits industries, in July 2016.

With Alta Growth Capital's support, AGH optimized its manufacturing processes and improved product quality. The company also implemented several environmental initiatives, including installing solar panels to generate 30% of its energy from renewable sources and recycling 1,400 tons of paper and 1,000 tons of BOPP plastic annually. AGH also earned an FSC certification, ensuring all sourced paper comes from well-managed forests.

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Member Meetup: Join Us Online

29 April & 8 May 2025 | Virtual

#GPCAEvents

Insurance companies are expanding their presence in private markets worldwide, as LPs, co-investors and direct investors. This session offers an opportunity for GPCA Members to better understand these trends and connect with insurers active in global markets.

M E M B E R M E E T U P

Meet the LPs - Insurance Companies in
Private Markets

Thursday, 8 May 9:00 – 10:00 am ET

Liam Coppinger

Senior Manager Director,
Head of Private Equity Asia

Manulife Investment Management

Andrea Kaufman

Managing Director & Head of
Sustainable Investing

PGIM Private Alternatives

Ksenija Jovanovic

Managing Director, GH of Private Equity & Real Estate Equity

Aflac Global Investments

REGISTER

Asia Members Meeting Recap

24 April 2025 | Singapore

#GPCAEvents

GPCA’s Asia Members Meeting on 24 April 2025 featured a panel discussion moderated by GPCA Senior Advisor Steve Okun. The session explored two critical areas shaping Asia’s investment landscape. Simon Kahn, Vice President of Marketing, Asia Pacific, Google, provided a deep dive into how artificial intelligence is transforming businesses, offering investors key insights into leveraging AI for innovation, efficiency and market growth across the region. Meanwhile, Stefano Ghezzi, Senior Vice President, Brookfield, highlighted the vast opportunities presented by the energy transition, focusing on the potential of renewable energy and climate tech investments. The discussion addressed the challenges investors face and outlined actionable strategies for capitalizing on these dynamic trends.

The event also included a Profiling Women in Private Capital panel, featuring Jessica Huang Pouleur of Openspace and Ke Qi Zhang of Triple P Capital. They explored leveraging the Southeast Asia Women Investors Directory to enhance the visibility of women investors in the region.

If you'd like to receive a copy of the data featured in the meeting, please contact Anissa Bokhari at abokhari@gpcapital.org.

INVESTMENTS

► Warburg Pincus and Abu Dhabi Investment Authority agreed to invest INR75b (~877m) in IDFC First Bank, an India-based private sector bank. #Asia

► iMENA Group, a Saudi Arabia-based digital platform operator for SMEs, has raised a USD135m pre-IPO investment from Sanabil Investments, FJ Labs and others. #MiddleEast

► Mirova committed USD40m to large-scale natural capital projects in Argentina, Costa Rica and Madagascar. #LatinAmerica

► Bek Ventures led a USD19m seed round for Lace AI, a Bulgaria-based revenue intelligence platform, with participation from LAUNCHub Ventures, Horizon VC and others. #CEE

► Surfin Meta, a Singapore-based provider of digital financial solutions for underserved communities, raised USD26.5m from Woori Venture Partners, Washington University and Phillip Private Equity. #Asia

► BTG Pactual acquired a significant stake in Inter & Co, the Brazil-based financial technology arm of Banco Inter. #LatinAmerica

► Clay Capital led a USD6.2m Series A for Eratani, an Indonesia-based technology solutions provider for the rice sector, with participation from TNB Aura, SBI Ven Capital, AgFunder and others. #Asia

FUNDRAISING

► Azalea Investment Management, a part of Seviora Group, a wholly owned subsidiary of Temasek, reached a USD262m first close for its third Altrium PE Fund, which will co-invest with Azalea and allow accredited investors to access private funds globally. #Asia

► A91 Partners reached a USD665m final close for its third fund focused on investing in growth-stage businesses and supporting founders with scale and strategic capital across India. #Asia

► Canary and Valor Capital each raised USD100m for their respective new funds to invest in early-stage startups in Brazil and Latin America. #LatinAmerica

► Orios Venture Partners reached a INR7.28b (~USD85.3m) final close for its fourth fund focused on early-stage investments in fintech, financial services and agtech across India. #Asia

► Trident Growth Partners reached a INR10b (~USD117.4m) first close for its maiden fund focused on growth-stage investments across India. #Asia

EXITS

► Gulf Capital exited Kuiper Group, a UAE-based provider of integrated manpower solutions in the energy sector, via a sale to Asian Energy Services. #MiddleEast

► Temasek partially exited its stake in the India-based National Stock Exchange for USD200m+. Temasek will continue to hold a 4.5% stake following the transaction. #Asia

► Chagee, a China-based bubble tea chain backed by XVC, raised USD411m through an IPO on the Nasdaq Global Select Market. #Asia

► Multiples exited PeopleStrong, an India-based HR management system, via a sale to Goldman Sachs for USD130m. #Asia