Rest of Asia
The firm is said to target $300 million for a USD-denominated portion of the fund.
Launched in 2017, China Walden Venture Investments III LP had a $250-million target.
It will invest in middle-market, growth-oriented companies with a target investment size of up to $18 million.
Based on its earnings, Velocity could be valued at around A$2 billion ($1.4 billion).
The Benettons sold 5% of a vehicle called ConnecT which holds 29.9% of Cellnex, with 2.5% going to each fund.
This is CVC Funds’ first major investment in the Gulf.
Temasek grew its India exposure to 5% in FY19, compared to 4% in the previous fiscal year.
This fresh tranche follows the previous funding round of $495 million in June by the sovereign wealth funds in Greenko to build power storage projects
The company plans to utilize the funding to further strengthen its technology and network coverage.
In May, ARA launched its first RMB-denominated investment vehicle in partnership with CICC Capital Management.
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