New Zealand-based private equity firm Direct Capital and the country’s Accident Compensation Corporation (ACC) have picked up a combined 50 per cent stake in freight forwarder Mondiale, while Australia’s courier service startup Sendle has raised A$19 million ($13.72 million) in a funding round led by King River Capital.
Direct Capital, ACC pick 50% in logistics firm Mondiale
New Zealand’s largest private equity firm Direct Capital and Accident Compensation Corporation (ACC) have acquired a combined 50 per cent stake in the country’s largest private freight forwarder Mondiale.
Financial terms were not disclosed.
The investment is the first from Direct Capital’s latest fund, Direct Capital VI, which had raised NZ$425 million ($277.75 million) in March.
Mondiale’s founders and management will hold the remaining 50 per cent stake in the business, according to a statement issued by Direct Capital on August 5.
Established in 1989, Mondiale has operations in New Zealand, Australia, China, and The Philippines.
Australia’s Sendle raises $13.7m
Australia’s sustainable courier service startup Sendle has raised A$19 million ($13.72 million) in its latest funding round, led by King River Capital, a venture capital firm based in Sydney and San Francisco.
“The funding round, which was oversubscribed, welcomed King River Capital, alongside Alberts Impact Capital and Marinya Capital, as new investors. King River brings expertise across both Australian and US markets as Sendle expands internationally,” the company said in a statement on Tuesday.
The fresh capital will be deployed to ensure small businesses can deliver to increased customer demand in the coming months and ahead of Christmas, said Sendle in the statement.
Sendle raised $20 million in a Series B round in 2018 led by Federation, a fund with a focus on renewable energy, health & education, and real estate.
