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Advent International eyes Apollo 24/7 stake ; Lohum mulls fresh capital
VCCircle
·
1y ago
Medial
Advent International is reportedly in discussions to acquire a minority stake in Apollo 24/7, the digital healthcare platform of Apollo Hospitals. The private equity firm is expected to invest approximately $250 million, valuing Apollo 24/7 at around $2 billion. In another development, Lohum, an Indian lithium-ion battery manufacturer, is considering raising fresh capital to support its expansion plans. Further details were not provided.
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Advent International to invest $296 mn in Apollo Hospital unit
VCCircle
·
1y ago
Medial
US private equity firm, Advent International, has agreed to invest INR 2,475 crore ($296m) to acquire a minority stake in Apollo HealthCo. The investment will allow for the merger of wholesale pharma distribution company Keimed and digital healthcare business Apollo 24/7. Advent will invest in two tranches to acquire a 12.1% stake in the merged entity, giving Apollo HealthCo an enterprise value of INR 22,481 crore. Following the merger, Apollo Hospitals will remain the largest controlling shareholder with a stake of at least 59.2%.
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Advent eyes benchmark returns from second portfolio exit in 2024
VCCircle
·
11m ago
Medial
Global private equity investor Advent International is planning to sell a portfolio company through a listing. This comes after the firm had a successful exit from Bharat Serums and invested in two more companies in India this year. Advent International has been active in the Indian market recently and is looking to capitalize on its investments.
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Medicine delivery enters quick lane but roadblocks remain
Economic Times
·
5m ago
Medial
The rapid delivery of prescription medicines is becoming a key focus in India’s quick commerce sector. Established firms like Tata Digital's 1mg and Apollo 24/7, alongside startups, are competing to dominate this market. The industry faces challenges like licensing and the need for physical stores. Companies like 1mg and Apollo 24/7 are piloting service expansions in multiple cities, aiming for faster deliveries while maintaining compliance with regulatory standards. New entrants also navigate this competitive landscape.
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Advent may invest up to $10 bn in India; Mizuho to buy stake in lender
VCCircle
·
1y ago
Medial
US private equity firm Advent International plans to invest $5-10 billion in India over the next five years. Despite concerns about high valuations, Advent remains optimistic about the Indian market. Advent International Chairman David Mussafer stated that the firm has already invested $5.8 billion in India since 2009 and is looking to make further significant investments. In another development, Mizuho is set to acquire a stake in an Indian lender.
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Lohum eyes $100 mn funding to grab a slice of global EV battery pie
Livemint
·
1y ago
Medial
Battery tech startup Lohum plans to raise $100 million in funding to expand its manufacturing operations in India and abroad, benefiting from the growing adoption of electric vehicles. The company aims to reach a valuation of $600-650 million, capitalizing on investor interest in the sector. Lohum recently raised $54 million in a Series B round led by Singularity Growth. It has appointed investment bank Avendus Capital to assist with fundraising efforts and plans to expand to North America, the Middle East, and Europe. Lohum specializes in repurposing and recycling EV batteries and offers an end-to-end battery lifecycle management ecosystem.
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CVC Capital mulls selling stake in Indian healthcare firm
Reuters
·
1y ago
Medial
Private equity firm CVC Capital Partners is reportedly considering selling a 60.4% stake in Indian cancer hospital chain, HealthCare Global Enterprises. The stake is valued at approximately $345 million, and CVC may seek a premium of 20-50% for the shares depending on market conditions. The Bengaluru-based chain operates 24 cancer centers across India and caters to over 200,000 patients each year. The private healthcare sector in India is rapidly growing due to a rising population and increasing disposable incomes.
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Advent kickstarts merger process of Suven Pharma & Cohance; engages Kotak & Citi
Money Control
·
1y ago
Medial
Private equity fund Advent International is working on a merger between its portfolio companies Suven Pharmaceuticals and Cohance Lifesciences, with the aim of creating an end-to-end contract development and manufacturing organization (CDMO) and active pharmaceutical ingredient (API) firm. The merger is set to be evaluated by the board, taking into consideration its strategic rationale and benefits for Suven Pharmaceuticals' shareholders. Investment banks Kotak Mahindra Capital and Citi have been appointed as advisors for the proposed deal. This move follows Advent International's recent acquisition of a majority stake in Suven Pharmaceuticals.
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Advent International looks to stitch secondaries deal to exit packaging firm
VCCircle
·
1y ago
Medial
Advent International, a global private equity firm, is looking to exit one of its portfolio companies through a secondaries deal. The firm has hired bankers to assist in the process. Advent International has been actively investing in India and is seeking to increase its share of funding in the country. The decision to exit the packaging firm highlights the firm's strategy to reallocate its capital and focus on new investment opportunities.
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Fisher Sells Stake of Up to $3 Billion to Advent, Abu Dhabi Fund
Livemint
·
1y ago
Medial
Private equity firm Advent International and a unit of the Abu Dhabi Investment Authority have acquired a minority stake in Fisher Investments, the investment firm founded by billionaire Ken Fisher. The deal, valued at up to $3 billion, is seen as part of Fisher's estate planning and will allow the firm to maintain its independence. Fisher Investments currently manages $275 billion for over 150,000 clients. Advent International has a focus on financial services and has previously backed companies such as Worldpay and Vantiv. The Abu Dhabi Investment Authority is a sovereign wealth fund.
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Grapevine: TA Associates, Haier, Advent International, Ola, and Everstone Capital in news
VCCircle
·
9m ago
Medial
US private equity firm TA Associates is planning to acquire a majority stake in a revenue cycle management services provider. Meanwhile, Haier's Indian unit has drawn interest from three investors for a minority stake. Advent International is reportedly considering a dual-track process for selling German online classifieds business, MeinAuto Group. Additionally, Indian ride-hailing company Ola has secured $100 million in funding from existing investor, Temasek. In other news, Everstone Capital is planning to invest $250 million in its new South Asia-focused fund.
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