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ChrysCapital tops up pharma bet as VCs cash out, valuation climbs

VCCircle

VCCircle · 6m ago

ChrysCapital tops up pharma bet as VCs cash out, valuation climbs

ChrysCapital, a private equity firm, has increased its investment in a domestic formulations company through a secondary transaction. This move allows two venture capital firms to cash out their investments. ChrysCapital collaborates with another PE investor to bolster their existing portfolio company. This action reflects ChrysCapital's strategic focus as they deploy their ninth fund, showing confidence in the pharmaceutical sector and responding to rising company valuations amidst venture capital exits.

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Exclusive: KKR changes tack to monetise JB Pharma bet as suitors balk at valuation ask

VCCircle

VCCircle · 11m ago

Exclusive: KKR changes tack to monetise JB Pharma bet as suitors balk at valuation ask

Private equity firm KKR is exploring alternative options to monetize its investment in JB Chemicals & Pharmaceuticals Ltd, also known as JB Pharma. Talks to sell its stake in the drugmaker have hit a roadblock due to differences in valuation. KKR is now considering a multi-billion dollar plan to unlock the value of its investment in JB Pharma.

KKR, Novo Nordisk, others bid for Healthium buy

Livemint

Livemint · 1y ago

KKR, Novo Nordisk, others bid for Healthium buy

Private equity major KKR and pharma company Novo Nordisk, as well as India-focused private equity firm ChrysCapital and pharmaceutical company Mankind Pharma, have submitted final bids to acquire surgical sutures firm Healthium Medtech. The bids value the Bengaluru-based company at up to ₹6,500 crore and were submitted by a deadline of Wednesday night. Healthium, formerly known as Sutures India, is one of the largest global manufacturers of surgical sutures. The company has steadily introduced higher value-added products and has a presence in over 90 countries.

ChrysCap, SWFs-backed Intas Pharma facing headwinds

VCCircle

VCCircle · 1y ago

ChrysCap, SWFs-backed Intas Pharma facing headwinds

Intas Pharma, a Gujarat-based drugmaker, is facing challenges despite being supported by private equity investors ChrysCapital, Temasek, and Abu Dhabi Investment. The company has a long history of raising capital from private equity firms since 1996. However, Intas Pharma is currently grappling with difficulties as it navigates the pharmaceutical industry landscape.

ChrysCapital to bet big on branded healthcare in India, says MD Raghav Ramdev

Livemint

Livemint · 1y ago

ChrysCapital to bet big on branded healthcare in India, says MD Raghav Ramdev

Private-equity firm ChrysCapital is planning to increase its investments in the healthcare sector in India, according to Managing Director Raghav Ramdev. While specific investment figures were not disclosed, the company sees branded healthcare gaining prominence among Indians and aims to target healthcare delivery and services. ChrysCapital recently made its first private healthcare investment by injecting $100 million into eyecare chain Centre For Sight. The firm also plans to evaluate deals in single-speciality and multi-speciality hospital chains, as well as diagnostics, medical devices, and contract development and manufacturing organisations (CDMOs).

ChrysCapital invests in Gujarat-based pharma player La Renon Healthcare

VCCircle

VCCircle · 1y ago

ChrysCapital invests in Gujarat-based pharma player La Renon Healthcare

ChrysCapital, an Indian private equity player, has invested $70 million in La Renon Healthcare, a domestic formulations company based in Ahmedabad. The investment will support La Renon's plan to become one of the top 20 Indian pharmaceutical companies within the next five years. Existing investors Peak XV Partners and A91 Partners will also remain invested in the company. La Renon, founded in 2007, specializes in areas such as nephrology, neurology, and gastroenterology and holds over 250 patents. ChrysCapital's healthcare portfolio includes investments in companies such as Mankind Pharma and Torrent Pharma.

Peak XV, ChrysCapital to pocket bigger cheques from common portfolio firm

VCCircle

VCCircle · 1y ago

Peak XV, ChrysCapital to pocket bigger cheques from common portfolio firm

Peak XV Partners and ChrysCapital, two Indian investment firms, have revised their strategy for profiting from a shared portfolio company. Formerly known as Sequoia Capital India and Southeast Asia, Peak XV and ChrysCapital are now aiming to cash in bigger amounts by selling portions of their stakes. The venture capital and private equity firms are looking to maximize returns from their investments and secure larger returns from their common portfolio company.

ChrysCapital mulls GeBBS Healthcare sale; Carlyle taps 2 banks for Hexaware IPO

VCCircle

VCCircle · 1y ago

ChrysCapital mulls GeBBS Healthcare sale; Carlyle taps 2 banks for Hexaware IPO

ChrysCapital, an Indian private equity firm, is considering selling GeBBS Healthcare Solutions, a healthcare BPO company in Los Angeles. ChrysCapital had acquired an 80% stake in GeBBS in 2018 for $140 million. Now, with a potential valuation of $350-400 million, ChrysCapital is exploring options to divest its stake. On the other hand, Carlyle Group has reportedly appointed JP Morgan and BNP Paribas as bankers for the upcoming IPO of Hexaware Technologies, an IT services company. Carlyle had acquired a majority stake in Hexaware in 2013.

Advent-owned Suven Pharma to buy majority stake in NJ Bio for $64 mn

VCCircle

VCCircle · 8m ago

Advent-owned Suven Pharma to buy majority stake in NJ Bio for $64 mn

Indian contract development and manufacturing organization (CDMO) Suven Pharma, owned by private equity firm Advent International, is set to acquire a majority stake in US-based NJ Bio for $64.4 million. Suven Pharma will purchase a 56% stake in NJ Bio, a technology-driven CDMO specializing in complex drug modalities, at a pre-money valuation of $100 million. The deal will involve a combination of primary and secondary investments, with Suven paying $49.4 million to buy out existing minority shareholders and infusing $15 million in primary equity. The transaction is expected to close this month.

Apollo Global, ChrysCap, Apis chart nearly $200-mn PE exit

VCCircle

VCCircle · 1y ago

Apollo Global, ChrysCap, Apis chart nearly $200-mn PE exit

Private equity firms Apollo Global Management, ChrysCapital, and Apis Partners are planning to sell their stakes in an Indian company for an estimated $200 million. This move comes as the firms aim to take advantage of the bullish stock market and cash in their investments. The three firms are looking to monetize their holdings and exit the investment, most likely due to the favorable market conditions.

Inside VW and Rivian’s big bet to rescue each other

Livemint

Livemint · 9m ago

Inside VW and Rivian’s big bet to rescue each other

Volkswagen (VW) will invest up to $5.8 billion in US startup Rivian, as part of a deal to address weaknesses for both companies in the electric vehicle (EV) market. VW gains access to Rivian's onboard computing and software technology, while Rivian gets much-needed cash. The collaboration aims to compete with EV companies like Tesla and Chinese manufacturers. VW plans to use the joint venture to develop digital controls for its passenger cars outside of China, while Rivian aims to open doors for further cooperation with other automakers.

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