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South Korea’s CJ Logistics increases stake in Indian arm with $32-mn investment

VCCircle

VCCircle · 2m ago

South Korea’s CJ Logistics increases stake in Indian arm with $32-mn investment

South Korea’s largest logistics company, CJ Logistics Corporation, has increased its stake in its Indian subsidiary, CJ Darcl Logistics Ltd, from 50% to 56% through a $32 million investment. This capital infusion aims to bolster CJ Darcl's capital base and facilitate its expansion nationwide in the multimodal logistics infrastructure sector. The funds will support development in terminals, advanced warehousing, digital supply chain solutions, and alternative fuel platforms, enabling sustainable growth and next-generation technology investments.

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Mirae Asset to acquire BNP Paribas unit Sharekhan for $370 mn

VCCircle

VCCircle · 1y ago

Mirae Asset to acquire BNP Paribas unit Sharekhan for $370 mn

Mirae Asset Securities, a South Korean investment banking and stock brokerage firm, has announced its acquisition of BNP Paribas' Indian retail brokerage unit, Sharekhan, in a deal worth $370 million. Mirae Asset will acquire a 72.76% stake in Sharekhan, while also acquiring a 99.9% stake in Human Value Developers, which holds a 27.24% stake in Sharekhan. The acquisition aims to tap into the long-term growth potential of the Indian securities industry, amidst a surge in retail participation in the Indian stock market.

IFC set to invest in Moroccan warehousing and logistics firm

VCCircle

VCCircle · 1y ago

IFC set to invest in Moroccan warehousing and logistics firm

The International Financial Corporation (IFC), the private investment arm of the World Bank, has announced plans to acquire a minority stake in a Moroccan warehousing and logistics company. The investment will be used to support the company's organic growth and potential acquisitions. The IFC will acquire a 17% stake in Building... [Truncated]

Shiprocket raises $11 Mn from McKinsey at flat valuation

Entrackr

Entrackr · 1y ago

Shiprocket raises $11 Mn from McKinsey at flat valuation

Shiprocket, a logistics and supply chain solutions provider, has raised Rs 90.7 crore ($11 million) in an extended Series E funding round led by McKinsey's investment arm, AFOS LLC. This marks the first equity funding round for Shiprocket this year. Following the investment, McKinsey will hold a 0.91% stake in the company, valuing it at $1.23 billion. Shiprocket offers integration services to retailers for their e-commerce platforms and turned unicorn in August 2021. The company reported a revenue of Rs 611 crore in FY22 and a loss of Rs 93 crore.

Adenia Partners ropes in three LPs to acquire South Africa’s The Courier Guy

VCCircle

VCCircle · 1y ago

Adenia Partners ropes in three LPs to acquire South Africa’s The Courier Guy

Mauritius-based private equity firm Adenia Partners has acquired South African e-commerce logistics company The Courier Guy, in collaboration with three co-investors. This move marks Adenia's second transaction from its latest investment vehicle. The firm, which targets mid-sized businesses across Africa, has purchased a 100% stake in the Cape Town-based courier services provider. The Courier Guy offers a range of logistics services for e-commerce businesses in South Africa and is known for its efficient delivery network and customer service.

Rohatyn-owned Ethos PE to hit the exit button on decade-old bet

VCCircle

VCCircle · 1y ago

Rohatyn-owned Ethos PE to hit the exit button on decade-old bet

Ethos Private Equity, owned by The Rohatyn Group, is preparing to divest its investment in a South African logistics and distribution company. The exit comes after a decade of holding the investment and will be made through Ethos' sixth investment vehicle, valued at $800 million. The company plans to sell a strategic stake in the company, although further details on the transaction have not been disclosed.

Aramco's VC arm building India team; IndoSpace eyes $800 mn InvIT

VCCircle

VCCircle · 1y ago

Aramco's VC arm building India team; IndoSpace eyes $800 mn InvIT

Saudi Aramco's venture capital arm, Prosperity7 Ventures, is expanding its presence in India and looking for early-stage investment opportunities in the country. The unit, which has over $3 billion in assets under management globally, is in talks to hire a leader for its India operations. Meanwhile, IndoSpace is aiming to raise $800 million through an infrastructure investment trust (InvIT) to fund its logistics real estate projects in the country.

Brookfield to acquire majority stake in GII's 1.5-mn-sq-ft logistics portfolio

VCCircle

VCCircle · 1y ago

Brookfield to acquire majority stake in GII's 1.5-mn-sq-ft logistics portfolio

Canadian alternative investment firm Brookfield Asset Management is set to acquire a majority stake in UAE-based Gulf Islamic Investments' logistics real estate platform. The deal includes a portfolio of 1.5 million square feet of warehouses in the UAE, including the warehouse for e-commerce player Noon. This move marks Brookfield's entry into the logistics sector in the Middle East and aligns with GII's strategy to reduce its real estate holdings and focus on private equity and venture capital investments. Brookfield plans to invest and scale the logistics platform over time through the acquisition and development of quality logistics assets.

HCL Picks Up Minority Stake In Educational Initiatives For $20 Mn

Inc42 · 1y ago

HCL Picks Up Minority Stake In Educational Initiatives For $20 Mn

IT giant HCL Group has acquired a minority stake in education software company Educational Initiatives (Ei) for INR 166 Cr ($20 Mn). The investment will help Ei expand to new markets such as South Africa, Kenya, Ghana, and Saudi Arabia and explore acquisitions of edtech product companies. Ei is known for its K-12 assessments and adaptive learning offerings and operates in a business-to-business (B2B) model. This investment comes at a time when the Indian edtech market is expected to grow to a $29 Bn opportunity by 2030.

Itihasa, the new game in town - The Economic Times

Economic Times

Economic Times · 1m ago

Itihasa, the new game in town - The Economic Times

Despite the global success of folklore-based games, Indian itihasa, featuring epics like Ramayana and Mahabharata, remains underutilized in AAA gaming. These narratives offer deep storytelling suited for immersive games and could enhance cultural understanding globally. Gaming, valued at over $250 billion, offers a platform for India to reclaim and spread its cultural stories, potentially shaping global narratives and enhancing India's cultural soft power, similar to Japan and South Korea’s success.

Belkhayat-run Moroccan group raising equity from offshore investor for logistics arm

VCCircle

VCCircle · 1y ago

Belkhayat-run Moroccan group raising equity from offshore investor for logistics arm

Moroccan conglomerate H&S Invest Holding, also known as Dislog Group, is seeking investment for its logistics arm from a foreign investor. The family-owned group, operating in various sectors including FMCG, logistics, pharmaceuticals, media communication, and real estate, is based in Casablanca. The investment will provide equity capital for its subsidiary, Building Logistics.

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