Deals from FinancePlus MENA

Deals from FinancePlus MENA


Startup Israeli medical device company seeking Series B funding for novel tissue MRI for cancer surgery

Established in 2010, this Israeli based medical device company is implementing a novel approach to using Diffusion Weighted MRI technology for assessment of tissue in cancer surgery. The highly accurate system is compact, portable and affordable for use in the operating room for real-time assessment of the excised tissue for cancer. Breast cancer conserving surgery will be the initial target procedure where between 25% to 30% of the nearly 700,000 annual patients return for a second operation due to not excising adequate tissue for a clean margin.
The system was CE Mark certified in September 2014 and an FDA 510(k) application is planned to be submitted by mid 2015. Commercialization is planned for early 2016. The company management is comprised of an experienced team with prior success in the medical device field. The system consists of the self-shielded portable MRI system and a single patient container made of high tolerance MRI-inert materials; thus providing multiple revenue stream options. The Series B Preferred offering is seeking funding with minimal investment of $200k per investor.

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Vaizra invests in Israeli and US startups

Vaizra Investments, the fund belonging to VKontakte founders Lev Leviev and Vyacheslav Mirilashvili, has invested in startups Moovit and Boxed. Moovit is an Israeli app which helps users to plan journeys on public transport, and Boxed is a US app for wholesale buyers.
Moovit monitors levels of traffic and the schedules of different forms of public transport in order to help users plan the most efficient route. It received $50 million from a group of funds, which also included Sequoia Capital, Nokia Growth Partners, BMW i Ventures, Keolis, Bernard Arnault Group, BRM Capital and Gemini Partners.
The app is currently used in over 400 cities across 40 countries, including Moscow and St Petersburg. Including the current deal, it has received over $81.5 million in investment since it was first launched in 2011, and is now valued at $450 million.
Boxed received $25 million in series B investment, with DST Global founder Yuri Milner also participating in the round, as well as GGV Capital, Founders Fund and AME Cloud Ventures.Boxed has now received a total of $33 million in investment, with the latest funds going towards increasing its range of products.

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Rapidly growing vegetable processing company seeking for working & expansion capital

The Company is a specialized agricultural business with a focus on garlic products. It produces garlic sauce, pickle, mash & powder in addition selling raw garlic. It also provides private labelling based on order for products such as ketchup, mayonnaise, lemon sauce, soy sauce, apple vinegar, pickled peppers and many more. Other features and terms include:
** New products currently under R&D such as black garlic, garlic jam, odorless garlic & garlic capsules;
** Early stage company operating since 2011 having invested app. $ 8 Mio;
** Facilities spread over an indoor area of 2,400 m2;
** Turnover forecast for 2015 is $3 Mio pointing out a 5 fold increase;
** Sales to Dominos, Pizza Hut, Ruffles, Ajinomoto, Carrefour, Edeka, Netto, Migros, Tesco, Wal-Marts;
** Exports to 3 continents;
** Seeks growth capital in the form of equity or debt.

For further information contact:
BYCap Advisors
[email protected]
+90 506 594 1878

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$400m Joint Investment betweenRussian Direct Investment Fund and Turkey’s Renaissance Holding

Joint investments in the healthcare and infrastructure sectors, using public private partnership (PPP) models, transport and commercial real estate projects, the construction of new shopping centres in projects across Russia’s regions – big step toward a bilateral trade goal of $100 billion a year.
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Turkish Bottle Cap Producer for Sale

Operating since 1970s, the company is involved with the production of caps from a 5,000 square meter facility. Caps are produced for:

  • Water products (produced of organoleptic PE)
  • Carbonated & non-carbonated beverage caps
  • Bottling liquid (i.e. milk, oil)

The Company has a complete production base with 64 employees, machinery together with quality control room, dining hall and storage room. The Company is among the leading producers in its segment and holds international certificates such as IS 9001, 22000, 14001 and 18001. The Company’s estimated sales for 2014 are around USD 10m with approximately 15% EBITDA margin.

Contact for further information:
BYCap Advisors
[email protected]
+90 5065 941878

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Abu Dhabi’s Gulf Capital $750 mln fund to invest in 10-12 firms

DUBAI, Oct 19 (Reuters) – Abu Dhabi-based buyout firm Gulf Capital is looking to invest in 10-12 companies over five years with the launch of its third private equity fund of $750 million, its chief executive said on Sunday. “We are making offers and talking to companies… we can move very quickly and close deals because we’ve raised the funds,” Karim El Solh said.

El Solh said the sectors the company is looking to invest in are power and water, oil and gas, healthcare and education as well as companies that will profit from government spending. Gulf Capital, with total assets of $3.3 billion, invests an average $60-75 million in each company and tends to buy partnerships that support rather than replace existing management.

Solh said 60 percent of the external investors in Gulf Capital’s new fund are from the United States, Europe and Asia and include sovereign wealth funds and pension funds.

Gulf Capital however, will be the anchor investor – it tends to be the largest investor in all of its funds at about 25-30 percent contribution.

As for its second private equity fund, the firm said 92 percent of $533 million had been invested and had generated a net internal rate of return of 25 percent as of June 30.

Private equity in the Middle East suffered a difficult time at the end of the last decade, as challenging global and domestic market conditions left some unable to exit investments without major losses.

The economic rebound both locally and internationally has revived deal making in the last two years, with many now divesting stakes and looking for new opportunities.

El Solh said Gulf Capital, which also has real estate development and credit units, may announce a revolving debt facility or tap the equity market to raise funds for its investments.

Sources told Reuters in July that Gulf Capital is looking to sell shares to the public.

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Turkey’s Yildiz Holding says interested in investing in United Biscuits

ISTANBUL, Sept 24 (Reuters) – Turkey’s Yildiz Holding, which owns food maker Ulker Biskuvi, said on Wednesday that it was interested investing in British snacks producer United Biscuits. Yildiz made the statement in a filing to the Istanbul stock exchange after news reports that unit Ulker was interested in bidding for United Biscuits. It clarified that Yildiz Holding was the interested party.

Last month, breakfast cereal maker Kellog emerged as a potential buyer for United Biscuits and Chinese private equity firm Hony Capital was linked to a deal in January.

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Dubai investor sells Al Noor Hospitals stake, raises $140 million

LONDON/DUBAI, Sept 11 (Reuters) – Dubai private equity firm Ithmar Capital has sold a 7.3 percent stake in Al Noor Hospitals for 10.30 pounds per share, two sources familiar with the matter said on Thursday, in a deal worth 87.55 million pounds ($142 million).
* Dubai private equity firm Ithmar Capital sells 7.3 percent stake
* Overnight sale priced at 10.3 pounds/share – sources
* Above midpoint of price range, 4.1 pct discount to Weds close
* First such sale since July 2013 listing (Confirms price, adds detail, context)

Ithmar offered 8.5 million shares in the healthcare firm in the first such sell-down since the company was listed in July 2013. The sale leaves Ithmar with a 20 percent stake, according to Thomson Reuters data. The sale price was above the mid-point of the original range of 10.00 pounds to 10.50 pounds, and came at a 4.1 percent discount to Wednesday’s closing price of 10.74 pounds.

The overnight sale was managed by Deutsche Bank, which was one of the banks that helped arrange the original flotation last year. One of the largest private healthcare providers in the oil-rich emirate of Abu Dhabi, Al Noor has seen its share price nearly double from its listing price of 5.75 pounds.

Gulf healthcare firms have become popular with investors, given the growing wealth of the region and also the increase in ‘lifestyle diseases’ – for example, five of the six Gulf states are in the global top 10 for prevalence of diabetes.

Al Noor’s other main shareholders are founders Sheikh Mohammed bin Butti Al Hamed and Chief Executive Kassem Alom, who own 28.25 percent and 10.32 percent respectively.

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Turkish Payment Platform Iyzico Raises Further $1.4M

Turkey’s Iyzico, which provides a platform to let e-commerce sites and other apps easily accept online payments (and can be thought of as the ‘Stripe of Turkey’), has raised a $1.4 million series B round. The funding was led by Turkish VC 212 Invest, along with previous backers Pahicle, and Speedinvest — adding to the $1.4 million it raised just over a year ago.

Iyzico says the new capital will be used to bolster its leadership position in Turkey where U.S.-based Stripe has yet to launch (despite ongoing European expansion), but where competition does exist in the form of the Samwer brothers’ Rocket Internet, which operates Stripe clone Paymill.

How long the Turkish startup can fend off Rocket Internet and Stripe, should the latter choose to enter the region, remains to be seen. That said, there are not-insignificant regulatory hurdles to cross in Turkey, as well as local market dynamics that are specific to the region.
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Catalyst CEL Fund invests $42 mln in Lamina Technologies

JERUSALEM, Aug 21 (Reuters) Aug 21 (Reuters) – The Catalyst CEL Fund said on Thursday it had agreed to invest $42 million in Lamina Technologies, a Swiss-based maker of metal-cutting tools. The fund said it would invest $10 million of new capital into Lamina, which was founded in Israel, to fuel global expansion and up to $32 million will be distributed to the company’s existing shareholders.

As a result, Catalyst CEL will take on a controlling stake in Lamina in partnership with the firm’s current management team, it said. Co-founder and Chief Executive Peleg Amir will remain in his post.

“We see significant opportunities for expansion into the China market,” said Edouard Cukierman, managing partner of Catalyst CEL, noting that Lamina already has a strong presence in Europe, North and South America and Asia-Pacific.

Catalyst CEL is a joint venture between China Everbright Ltd and Israel’s Catalyst Equity Management. The fund has raised more than $100 million and aims to reach as much as $300 million to invest in Israel-focused companies.

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