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ChrysCapital’s Kshitij Seth on PE firm’s $5 Bn India investment playbook

Inc42Inc42 · 1y ago
ChrysCapital’s Kshitij Seth on PE firm’s $5 Bn India investment playbook
Medial

ChrysCapital, a prominent private equity firm in India, has witnessed a significant shift in its investment strategy over the past two decades. Initially focusing on stable businesses in sectors like financial services, healthcare, and IT services, the firm has now shifted its focus to the new economy, including sectors such as finTech, consumer tech, and internet services. ChrysCapital invests in startups at a later stage of growth, typically during series D or E funding rounds, with a focus on profitability and a potential for listing. The firm aims to add value to its portfolio companies through mentorship and guidance to prepare them for going public. Additionally, ChrysCapital has recently raised funds for a new alternative investment fund named Clarus, which aims to identify investment opportunities across various sectors and company sizes.

ChrysCap-backed Eris Life acquires Biocon Biologics' India formulations business

VCCircleVCCircle · 1y ago
ChrysCap-backed Eris Life acquires Biocon Biologics' India formulations business
Medial

Mumbai-based pharmaceutical company Eris Lifesciences, backed by private equity firm ChrysCapital, is set to acquire Biocon Biologics' India branded formulation business for $150 million. The deal, including insulin brands Basalog and Insugen, is expected to be finalized by 15 April, 2024. Eris aims to strengthen its diabetes care franchise and expand into the oncology and critical care sectors. The acquisition also includes a 10-year supply agreement with Biocon Biologics. This move follows Eris's previous acquisitions in the neuropsychiatry and dermatology sectors. Eris Lifesciences operates with a domestic-branded formulations business model and has a distribution network of over 2,000 stockists and 500,000 chemists.

ChrysCapital closes $2.2 Bn Fund X

EntrackrEntrackr · 1m ago
ChrysCapital closes $2.2 Bn Fund X
Medial

ChrysCapital has closed Fund X at $2.2 billion, the largest private equity fund raised by an India-focused firm. Fund X is a 60% increase from Fund IX of $1.35 billion, closed in 2022. The firm plans to invest the capital in established companies across consumer, healthcare, financial services, enterprise technology, and industrial sectors. ChrysCapital has now raised around $8.5 billion across ten private equity funds, a continuation vehicle, and a public markets fund since 1999. It has deployed over $5.5 billion across 110 portfolio companies and realised $7.8 billion across 80 exits with a reported 3.0x ROI. Its past investments include Intas Pharmaceuticals, Mankind Pharma, GeBBS Healthcare, Infogain, NSE, and Awfis. Fund X added over 30 new global investors, including pension funds, insurers, asset managers, and family offices from Japan, the Middle East, Southeast Asia, Europe, and the US. For the first time, ChrysCapital also raised capital from Indian institutional investors and large family offices. The fund reached its final close within six months of its first close. The firm plans to deploy Fund X over the next 3–4 years and has several transactions in progress. The strategy continues to focus on majority and minority investments in businesses with strong governance, clear growth levers, and defined exit visibility. ChrysCapital competes with PE firms active in India such as TPG, Bain Capital, KKR, Blackstone, Carlyle, Warburg Pincus, and Multiples.

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