INVESTMENTS
► US International Development Finance Corporation (DFC) has approved up to USD425m in debt funding for TP Solar, a subsidiary of India-based Tata Power Renewable Energy. The funding will be used for a 4.3 GW greenfield solar cell and module manufacturing plant. #Asia
► KKR invested USD250m in India-based retail chain Reliance Retail, at a reported USD100b valuation. #Asia
► Kedaara Capital invested USD229m Series D in Perfios, an India-based credit underwriting solution for banks and non-banking financial institutions. #Asia
► Temasek led a USD140m round for Ola Electric, an India-based electric scooter manufacturer, at a reported USD5.4b valuation. #Asia
► Hyperview, a China-based full-stack autonomous driving solutions provider, raised a CNY600m (~USD83m) Series B from Aramco Ventures' Properity7 Ventures, Hefei Industry Investment Group, Zhongan Capital and others. #Asia
► QED Investors and Bicycle Capital led a BRL250m (~USD51m) Series C for Mottu, a Brazil-based motorbike rental service for last-mile delivery companies, with participation from Endeavor Catalyst and Caravela. #LatinAmerica
► UOB Venture Management led a USD23m Series C for ELSA, a Vietnam-based English learning platform, with participation from UniPresident, Aozora Bank, Vietnam Investments Group and the Development Bank of Japan, as well as follow-on from Gradient Ventures, Monk’s Hill Ventures and Globant Ventures. #Asia
► BTG Pactual increased its stake by 6.85% in Gran Cursos, a Brazil-based education platform providing online courses for post-graduate students. #LatinAmerica
► SPX and Lightrock acquired a 31% stake in ComBio Energia, a Brazil-based biomass thermal energy provider. #LatinAmerica
► Monk's Hill Ventures led a pre-Series A for Saladin, a Vietnam-based insurtech platform, with participation from Peak XV Partners, Venturra Capital, Patamar Capital and angel investors. #Asia
FUNDRAISING
► Vertex Ventures Southeast Asia and India reached a USD541m final close for its fifth fund focused on early-stage, high-growth startups. The vehicle exceeded its target of USD450m. #Asia
► Joliba Capital reached a EUR55m (~USD59m) first close for its debut fund focused consumer-driven sectors in Francophone countries in Western and Central Africa. #Africa
► IDB Invest committed USD25m to FCP Sura Private Debt, a Colombia-focused peso-denominated fund targeting SMEs and middle-market companies. #LatinAmerica
EXITS
► I Squared Capital exited Energuate, a Guatemala-based electricity distribution asset and subsidiary of Inkia Energy, to Threelands Energy. #LatinAmerica
► Aqua Capital and GIC exited Biotrop, a Brazil-based developer of biological-based products for agricultural producers, through a sale to Biobest Group, a Belgium-based horticulture and pollination specialist, for EUR532m (~USD568m). #LatinAmerica
