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Ontario Teachers’-controlled Sahyadri snaps up Maharashtra hospital

VCCircle

VCCircle · 9m ago

Ontario Teachers’-controlled Sahyadri snaps up Maharashtra hospital

Sahyadri Hospitals, a hospital chain in Maharashtra, has been acquired by Ontario Teachers' Pension Plan (OTPP), a Canadian pension fund. This marks Sahyadri's first reported acquisition since receiving investment from OTPP.

Related News

Manipal, Fortis in talks to raise Rs 5,000 cr for Sahyadri Hospitals bid

Economic Times

Economic Times · 2m ago

Manipal, Fortis in talks to raise Rs 5,000 cr for Sahyadri Hospitals bid

Manipal Health Enterprises and Fortis Healthcare are in discussions with foreign lenders to raise up to Rs 5,000 crore for bidding on Sahyadri Hospitals, a multispecialty hospital chain. Ontario Teachers' Pension Plan (OTPP), owning a 98.9% stake in Sahyadri, is selling it less than three years after acquiring control from Everstone Capital. Sahyadri operates 11 hospitals across Maharashtra and is a prominent entity in the ongoing consolidation of India's hospital sector.

Grapevine: OTPP, Sahyadri Hospitals, and Accel-backed Bluestone in news

VCCircle

VCCircle · 8m ago

Grapevine: OTPP, Sahyadri Hospitals, and Accel-backed Bluestone in news

Ontario Teachers' Pension Plan (OTPP) is reportedly planning to divest its controlling stake in Sahyadri Hospitals, while Bluestone, a company backed by Accel, has gained board approval to launch an initial public offering (IPO). These developments have been highlighted in recent media reports.

OTPP-backed Sahyadri Hospitals draws interest from PE firms, strategic suitors

VCCircle

VCCircle · 8m ago

OTPP-backed Sahyadri Hospitals draws interest from PE firms, strategic suitors

Several private equity firms and strategic suitors are expressing interest in Sahyadri Hospitals, a healthcare company backed by Ontario Teachers’ Pension Plan (OTPP). The Canadian pension fund is seeking to reduce its stake in the company. Bids have been submitted by both international and Indian firms.

Perfios Snags $80 mn from Ontario Teachers’ Pension arm

VCCircle

VCCircle · 1y ago

Perfios Snags $80 mn from Ontario Teachers’ Pension arm

Perfios Software Solutions, a fintech SaaS company, has announced an $80 million investment from Ontario Teachers’ Pension Plan's venture arm, Teachers' Venture Growth (TVG). The funds will be used to support Perfios' international expansion and explore inorganic growth opportunities. The company currently operates in Southeast Asia, the Middle East, and Africa. Perfios plans to strengthen its digital transformation journey, enhance its tech stack, and fuel the digital transformation of financial services companies in India and beyond. TVG's India director, Darius Vakil, will join Perfios' board as the nominee for Ontario Teachers' Pension Plan.

Temasek-controlled Manipal Health leads race for regional hospital chain

VCCircle

VCCircle · 5m ago

Temasek-controlled Manipal Health leads race for regional hospital chain

Manipal Hospitals, controlled by Temasek, is leading the race to invest in a Maharashtra-based hospital chain. Manipal Hospitals, operated by Manipal Health Enterprises Pvt Ltd and led by Ranjan Pai, is in talks to acquire a significant stake in the regional chain. This move indicates Manipal Health's strategic expansion in the healthcare sector, leveraging Temasek's support to strengthen its presence and further enhance its market position in India’s hospital industry.

Ontario Teachers mints new unicorn in Indian fintech Perfios

TechCrunch · 1y ago

Ontario Teachers mints new unicorn in Indian fintech Perfios

Ontario Teachers' Pension Plan's late-stage venture and growth investment arm, Teachers' Venture Growth, is investing $80 million in Perfios, an Indian fintech firm. Perfios provides real-time credit underwriting solutions to banks and other financial institutions. With this investment, Perfios is now valued at over $1 billion. The funds will be used for international expansion and exploring acquisition opportunities. Perfios aims to go public next year. The company helps banks assess the creditworthiness of potential borrowers, reducing the risk of defaults and improving portfolio quality. Ontario Teachers' Pension Plan has invested over $3 billion in India.

Perfios becomes India's 2nd unicorn in 2024 after $80-mn fundraise

Inshorts · 1y ago

Perfios becomes India's 2nd unicorn in 2024 after $80-mn fundraise

Fintech SaaS startup Perfios on Wednesday announced raising $80 million in funding from Teachers' Venture Growth, the late-stage venture and growth investment arm of the Ontario Teachers' Pension Plan. The funding takes Perfios' valuation above $1 billion, making it India's second unicorn in 2024. Perfios raised $229 million from Kedaara Capital in September 2023.

Darwinbox secures $40 million funding from Canada's OTPP - The Economic Times

Economic Times

Economic Times · 15d ago

Darwinbox secures $40 million funding from Canada's OTPP - The Economic Times

Darwinbox, a Hyderabad-based HR software firm, raised $40 million from Teachers’ Venture Growth, a branch of Ontario Teachers’ Pension Plan. This follows a $140 million funding round earlier in the year, valuing the company at $1 billion. The investment allowed early investors like Peak XV Partners significant returns. Darwinbox, serving over 1,000 enterprises, reported a 58% revenue increase and aims to expand further into the US market, targeting significant revenue growth.

Canadian pension fund OTPP elevates India exec for venture growth bets

VCCircle

VCCircle · 9m ago

Canadian pension fund OTPP elevates India exec for venture growth bets

Canadian pension fund Ontario Teachers' Pension Plan (OTPP) has promoted an executive in India to a senior position in its venture growth platform. This platform focuses on making late-stage venture and growth equity investments in technology companies. OTPP is among several Canadian pension funds that have shown interest in investing in India.

Ontario Teachers venture arm invests $80 million in Xpressbees

Economic Times

Economic Times · 1y ago

Ontario Teachers venture arm invests $80 million in Xpressbees

Ontario Teachers' Pension Plan's venture arm, Teachers’ Venture Growth (TVG), has invested $80 million in Pune-based e-commerce logistics company Xpressbees. The funding consists of both primary and secondary share acquisition, including an Esop buyback. Xpressbees plans to use the capital to scale its operations and expand its service offerings. The company recently acquired Trackon in an all-cash transaction and aims to address the growing needs of businesses and consumers in the logistics sector. Xpressbees competes with other major players like Delhivery and Ecom Express.

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