Bahrain-based Investcorp, has announced its investment in V-Ensure Pharma Technologies in a transaction valued at INR1.3 billion ($17.5 million).
The funding round was led by Investcorp along with participation from Asia-based private investment firm, Tanas Capital.
This marks Investcorp’s third healthcare investment in India and its first in the pharmaceutical sector, the company said in a statement.
The investment will fund V-Ensure’s objective of pursuing growth opportunities across North America, Europe and other global markets for the development and launch of its products.
Investcorp said the investment also reinforces its commitment to invest in market-leading business services, information technology and healthcare businesses in India.
Founded in 2010, V-Ensure is a developer of specialty pharmaceutical formulations focused on complex generics for regulated markets.
The company’s core competence lies in development of complex molecules for regulated markets without infringing on any existing patents.
V-Ensure has developed solid oral, liquid oral and injectable products for more than 45 clients across Europe, North America, China, Australia and Brazil.
Gaurav Sharma, head of private equity, Investcorp India, said: “As our first pharmaceutical deal in India, we are confident that healthcare globally will continue to be centre stage for the future.
“Investcorp’s global presence and knowledge will potentially help V-Ensure as they look to establish their presence directly in the US market. We look forward to this partnership and supporting the company in scaling its operations, both in India and globally, drawing upon our global mid-market expertise.”
Satyanarayana Vemula, CEO of V-Ensure, added: “With the backing of Investcorp’s experienced team and global network, we believe that we will be well positioned to significantly accelerate our growth.”
Investcorp has been active in the mid-market private equity space in India since 2019.
Its investments include Nephroplus, Wingreens, Intergrow Brands, Bewakoof.com, FreshToHome, Zolostays, InCred, Citykart, ASG Eye Hospital, Unilog, Xpressbees, and Safari Industries.
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