Middle East & North Africa

Ethos leads investment in African minerals

Ethos Private Equity and Old Mutual Private Equity have invested in the African Northern Cape-based lime and calcium processing plant Idwala Industrial, for a reported 44 % stake. The deal represented an exit for the Tisco Group and RMB Ventures.

Bessemer promotes three

Bessemer Venture Partners has promoted three professionals, two of whom are located in Mumbai and one in Massachusetts.

Yea resigns from beleaguered 3i

3i veteran Michael Queen will now steer the firm, whose top 50 investments lost £682m in the past nine months. Last year, 3i invested a total of £841m, down dramatically from the £1.8bn the prior year. 3i's share price has plummeted in recent months, this morning losing nearly 4%, giving it a £941m market capitalisation.

Infinity backs life sciences company again

For its second funding round, the Israel- and China-focused private equity firm invested $13m alongside other investors in Chiral Quest Corporation.

Venture firms pump $24m in Israeli tech company

Aurum Ventures, Canaan Partners and Evergreen Venture Partners are among the firms that have invested in N-trig. The investment will be used to fund technological innovation and the development of new platforms.

Canaan promotes two to general partner

Alok Mittal and Izhar Shay will augment the firm’s presence in India and Israel respectively. Both will continue to focus on the technology sector.

ECP nets 2x return on agribusiness exit

The pan-African investor has sold sugar, flour and animal feed producer SOMDIAA to its majority shareholders for $26m as Africa Fund I continues to divest.

Report: Cerberus to cut 10% of staff

The New York-based private equity firm is reportedly on the brink of making up to 27 of its 275 employees redundant.

African fund in debut deal

Africa-focused private equity firm Development Partners International has backed South Africa-based telecom company Q-Venture. The firm has raised €272m toward its debut fund, which it aims to close on €400m in 2009.

Israeli venture market grows 18%

Israeli companies drew $2.1bn in venture funding in 2008, the highest in eight years, although there was a marked slowdown in investment activity in the last quarter.