New GPCA Deal Book; Temasek Leads USD210m Series G for India’s Rebel Foods

18 December 2024
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GPCA Deal Book: Inclusive & Sustainable Growth

Fifth Edition

In this latest edition of the GPCA Deal Book, eleven cases from Member firms showcase impact across GPCA markets, from an operator of the largest open-access fiber network in South Africa’s Western Cape region to a manufacturer of labels for consumer-packaged goods in Mexico and a provider of electric bus transportation services across India.

The GPCA Deal Book illustrates in practical terms the real impact of exemplary private capital investment in Asia, Latin America, Africa, Central & Eastern Europe and the Middle East.

VIEW EDITION V

Global Member Meetup
23 January 2025 | Virtual

#GPCAEvents

GPCA Members are invited to participate in the second installment of our global investor meetup series over Zoom.

With the start of President Trump’s second term, global investors are preparing for US tariffs and investment restrictions, increasing antagonism in US-China relations and an America First foreign policy which portends changing US relations across the globe.

This Global Member Meetup will feature firsthand insights from a Trump White House veteran and a former top US diplomat in Hong Kong. Members will be invited to ask questions and share comments in a moderated discussion.

Registration is free for all GPCA Members.

REGISTER HERE

CEE in Focus

#LeadershipCouncils

The GPCA CEE Council convened last week, with the meeting led by Council Chair Anne Fossemalle of EBRD. Key takeaways include:

The next Trump administration could influence CEE market dynamics in several ways. To the extent tariffs primarily target Canada, Mexico and Asian countries, CEE’s economies may benefit indirectly. Some scenarios for a resolution to the conflict in Ukraine could also unlock new high-growth opportunities. The US and Europe, including CEE, are likely to continue to diverge on ESG.
The new venture capital investment funds (GSYF) framework in Turkey has opened up new pockets of capital, with local Turkish LPs playing a larger role in fundraising. After a slower period, the VC landscape has become more dynamic with startups like Insider raising rounds from large foreign investors.
CEE, particularly Poland, is seeing a rise in domestic buyers consolidating local markets, leveraging improved access to debt to support strategic expansion.

VIEW CEE COUNCIL

Globalturk Event Recap

In October, GPCA traveled to Istanbul for Globalturk Capital’s 6th Annual Executive Briefing on Private Capital in Türkiye and Environs, which featured 400+ participants. Jeff Schlapinski, GPCA’s Managing Director for Research, shared key research highlights and moderated a panel that included GPCA Members CEECAT Capital, Innova Capital and Horizon Capital. Globalturk has now published a post-event report containing key findings and summaries of panel discussions at the event.

VIEW POST EVENT REPORT

This is the final edition of NewsWatch for 2024. We will resume on a weekly frequency in 2025 after a brief break for the holidays.

INVESTMENTS

► Temasek led a USD210m Series G for Rebel Foods, an India-based cloud kitchen operator, with follow-on from Evolvence. #Asia

► Blackstone acquired warehousing assets from logistics company LOGOS India for INR17.25b+ (~USD203.7m+). #Asia

► Growtheum Capital Partners invested PHP7b (~USD121m) in Mets Logistics, a Philippines-based cold-chain solutions provider. #Asia

► Multiples PE led a INR10b (~USD118m) Series F for India-based mortgage lender Shubham Housing, with follow-on from the Asian Development Bank and BII. #Asia

► IndiaRF, a firm backed by Bain Capital, agreed to acquire a controlling stake in Anthea Aromatics, an India-based chemicals manufacturer and exporter, for INR10b (~USD118m). #Asia

► Navis Capital Partners and Dragon Fund led a USD60m investment in CarDekho SEA, a Singapore-based auto financing service platform. #Asia

► Macquarie Asset Management invested in the Mexico-based Mayakan Natural Gas Pipeline to expand natural gas transportation in the Yucatan Peninsula. #LatinAmerica

► Enterprise Investors acquired NZOZ Śródmieście-Biały Kamień, a Poland-based primary care clinic with two locations. #CEE

► Revaia led a USD26m Series B for Ampeco, a Bulgaria-based EV charging platform, with follow-on from Cavalry Ventures, BMW iVentures and Launchhub. #CEE

► Accion invested USD15m in Banco Contactar, a Colombia-based bank focused on serving clients based in rural areas. #LatinAmerica

► Bewater invested BRL43m (~USD7.1m) in Trinus Co, a Brazil-based holding company focused on connecting the real estate market to the financial market. #LatinAmerica

► Global Ventures led a USD5.5m pre-Series A for BioSapien, a UAE-based drug delivery platform for colorectal cancer patients, with participation from Dara Holdings. #MiddleEast

FUNDRAISING

► Navis Capital Partners raised USD135m for its debut Asia Credit Fund focused on private credit in Southeast Asia. #Asia

► Iliad Partners launched its USD50m Tech Ventures Fund focused on early-stage B2B software startups in Saudi Arabia and the UAE. #MiddleEast

► Seedstars Africa Ventures reached a USD42m first close for its VC fund focused on early-stage investments in scalable startups in Africa. #Africa

► IDB Invest and Colabora Capital Partners announced a new investment management platform focused on Latin America and the Caribbean. #LatinAmerica