► KKR agreed to acquire a majority stake in XCL Education, a Singapore-based operator of K-12 schools across Southeast Asia, for ~USD1.3b. #Asia
► A consortium led by Quadria Capital acquired Malaysia-based pharmaceutical group Apex Healthcare, valuing the company at ~MYR1.9b (~USD470m). #Asia
► Cowin Capital and Jingming Capital led a CNY5b (~USD729.1m) Series D+ for iSpace, a China-based commercial rocket developer. #Asia
► China-based embodied intelligence firm SpiritAI raised CNY2b (~USD290.5m) from HongShan Capital Group, YF Capital, Chao Investments and others. #Asia
► Hillhouse Investments acquired China-based pharmaceutical quality control platform Nanjing Milestone Pharma for CNY350m (~USD50.7m). #Asia
► Egypt-based grocery delivery platform Breadfast raised a USD50m pre-Series C from Mubadala Investment Company, Olayan Financing Company and others. #Africa
► Benin- and Togo-founded electric mobility company Spiro raised USD50m from Afreximbank, Nithio and Africa Go Green Fund. #Africa
► Blackstone invested in India-based school operator Globetrotters Educational Innoventions. #Asia
► responsAbility Investments invested in Latin America-based agribusinesses Alamos, Proserla and Mega Greenhouses. #LatinAmerica
► Plural led a EUR30m (~USD35.4m) Series A for Estonia-based defence technology company Frankenburg Technologies, with participation from SmartCap. #CEE
► Khosla Ventures led a BRL100m (~USD19.5m) Series A for Comp, a Brazil-based HR platform, with participation from KASZEK, Endeavor Catalyst and Canary. #LatinAmerica
► IDF Capital led a USD11.25m Series A for Zambia-based digital bank Lupiya with participation from INOKS Capital and KfW DEG. #Africa
► ffVC led a EUR4.5m (~USD5m) seed round for Poland-based defense technology company FlyFocus, with participation from the NCBR Investment Fund. #CEE
FUNDRAISING
► Asia Alternatives reached a USD900m first close for its seventh fund of funds and related vehicles focused on private equity investments across Asia. #Asia
► Development Partners International reached a first close for its fourth African Development Partners (ADP) fund focused on investing in growth-stage companies across Africa. #Africa
► AIGF Advisors reached a JPY12.1b (~USD130m) first close for its third fund focused on investing in small and mid-cap companies in the ASEAN region. #Asia
► Proparco committed USD42m to Development Partners International’s fourth ADP fund. #Africa
► IFC committed USD25m to Seraya Partners’ second fund, focused on investments that support decarbonization, improved connectivity and inclusive economic growth across Indonesia, Malaysia, the Philippines, Thailand and Vietnam. #Asia
EXITS
► Patria Investments fully exited Brazil-based gym chain SmartFit for BRL890m (~USD173m). #LatinAmerica