Blackstone Group Inc. has acquired controlling interests in Care Hospitals and Kims Health in a multi-layered deal valued at $1 billion, marking the private equity giant\u2019s maiden foray into India\u2019s healthcare sector. The New York-based firm secured roughly a 75% stake in Care Hospitals from Evercare Health Fund, an arm of TPG, for $700 million. Care Hospitals, in turn, has entered an agreement to invest $400 million to acquire 80% stake in True North-backed Kims Health, of this, Blackstone has invested $300 million while TPG has put in $100 million.<\/span><\/p>\n The PE firm will invest $ 75 million (around INR 624 crore) in US-based digital transformation services and consulting company ILink Digital for a minority stake. ILink will primarily utilize the capital towards M&A agenda.<\/span><\/p>\n \u00a0<\/span>(Source: VC Circle, 5<\/span>th<\/span> October 2023)<\/span><\/p>\n Bagzone Lifestyles Pvt Ltd, parent of handbag brand Lavie, raised $9 million (around INR 75 crore) in their first institutional round of funding since its inception in 2010. Round was led by homegrown private equity company First Bridge via its India Growth Fund.<\/span><\/p>\n (Source: VC Circle, 11<\/span>th<\/span> October 2023)<\/span><\/p>\n Artificial Intelligence based IT management software-as-a-service platform Superops.ai raised $12 million (around INR 103 crore) in a series B round. Round was co-led by American investor Lee Fixel\u2019s venture capital firm Addition and California based March Capital, Matrix Partners India also participated in this round.<\/span><\/p>\n (Source: VC Circle, 11<\/span>th<\/span> October 2023)<\/span><\/p>\n Dialysis service chain Apex Kidney Care has raised $10 million (around INR 83.3 crore) as part of its funding round from Tata Capital Healthcare Fund, the healthcare focused arm of private equity firm Tata Capital Ltd.<\/span><\/p>\n (Source: VC Circle, 11<\/span>th<\/span> October 2023)<\/span><\/p>\n InsuranceDekho has secured $60 million (around INR\u00a0 500 crore) as a part of its ongoing Series B round from Beams Fintech Fund, Japanese giant Mitsubishi UFJ Financial Group and BNP Paribas Cardif.\u00a0<\/span><\/p>\n (Source: VC Circle, 25<\/span>th<\/span> October 2023)<\/span><\/b><\/p>\n Mensa Brands Technologies Pvt. Ltd, has raised $40 million (around INR 330 crore) from growth stage debt financing platform EvolutionX Debt Capital. Mensa Brands has raised capital through a combination of debt facility and convertible investment.<\/span><\/p>\n (Source: VC Circle, 5<\/span>th<\/span> October 2023)<\/span><\/p>\n Aampe, AI based user engagement platform raised $7.5 million (around INR <\/span>62.3 crore) in a pre-Series A round, co-led by Matrix Partners India and Peak <\/span>XV Partners.\u00a0<\/span><\/p>\n (Source: VC Circle, 5<\/span>st<\/span> October 2023)<\/span><\/p>\n Onsurity Technologies Pvt. Ltd, has raised $24 million (around INR 200 crore) in a Series B round led by International Finance Corporation, the private sector investment arm of World Bank Group. Existing investors Nexus Venture Partners and Quona Capital also participated in the latest funding round.<\/span><\/p>\n (Source: VC Circle, 9<\/span>th<\/span> October 2023)<\/span><\/p>\n AI Growth Pvt. Ltd, which operates fixed-income investment platform Jiraaf, has secured $8.7 million (around INR 72 crore) in a Series B round co-lead by Harmony Ventures and Accel as new and existing investors, respectively.\u00a0<\/span><\/p>\n (Source: VC Circle, 12<\/span>th<\/span> October 2023)<\/span><\/p>\n Spacetech startup Agnikul Cosmos Pvt. Ltd, has raised $26.7 million (around\u00a0<\/span>INR 200 crore) from Celesta Capital, RocketShip.vc, Artha Venture Fund and <\/span>Artha Select Fund. Existing backers pi Ventures, Speciale Invest and Mayfield India doubled down on their spacetech bet by participating in this round.<\/span><\/p>\n (Source: VC Circle, 17<\/span>th<\/span> October 2023)<\/span><\/b><\/p>\n Fintech unicorn Slice is merging with Guwahati based North East Small Finance Bank after receiving RBI approval. Company did not disclose financial details.<\/span><\/p>\n (Source: VC Circle, 4<\/span>th<\/span> October 2023)<\/span><\/p>\n Aditya Birla Group-led Birla Carbon, a global supplier of carbon black, has acquired Nanocyl SA, a Belgium based manufacturer of multi-wall carbon nanotubes. Company did not disclose financial details.<\/span><\/p>\n (Source: VC Circle, 11<\/span>th<\/span> October 2023)<\/span><\/p>\n A91 Partners-backed VideoVerse, a video editing platform, has bought AI-based design system Optikka for an undisclosed amount, marking its second acquisition this year.\u00a0 <\/span><\/p>\n (Source: VC Circle, 18<\/span>th<\/span> October 2023)<\/span><\/p>\n The dutch cold chain company is buying Palava Induslogic 3 Pvt. Ltd, a wholly owned subsidiary of Macrotech, for $18.5 million (around INR 153.7 crore) via its unit NewCold India Holding BV.<\/span><\/p>\n (Source: VC Circle, 26<\/span>th<\/span> October 2023)<\/span><\/p>\n Tata group is set to start assembling Apple iphones in India after Wistron Corp approved the sale of its Indian manufacturing unit to salt-to-software conglomerate. Wistron board approved the sale of Wistron InfoComm Manufacturing India Pvt. Ltd, to Tata Electronics Pvt. Ltd, for an estimated value of $125 million (around INR 1040 crore).\u00a0<\/span><\/p>\n (Source: VC Circle, 28<\/span>th<\/span> October 2023)<\/span><\/p>\n \u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Blackstone Buys Care Hospitals, KIMS Health for $1Bn Blackstone Group Inc. has acquired controlling interests in Care Hospitals and Kims Health in a multi-layered deal valued at $1 billion, marking the private equity giant\u2019s maiden foray into India\u2019s healthcare sector. The New York-based firm secured roughly a 75% stake in Care Hospitals from Evercare Health Fund, an arm of TPG, […]<\/p>\n","protected":false},"author":3,"featured_media":1662,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[20,14],"tags":[324,326,323,325],"class_list":["post-1642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-finance","category-general","tag-brand","tag-california","tag-funding-round","tag-growth-fund"],"yoast_head":"\nPrivate Equity<\/b><\/h2>\n
True North Invests $75 Mn In US-Based IT Firm ILink<\/b><\/h3>\n
Hand Bag Brand Lavie Parent Closes Maiden Funding Round<\/b><\/h3>\n
Superops.Ai Snags Over $12 Mn In Series B Round<\/b><\/h3>\n
Tata Capital\u2019s Fund Writes $10 Mn Cheque To Apex Kidney Care<\/b><\/h3>\n
InsuranceDekho Raises $60 Mn In Ongoing Series B Round<\/b><\/h3>\n
Venture Capital<\/b><\/h2>\n
EvolutionX Signs $40 Mn Cheque to Mensa Brands\u00a0<\/b><\/h3>\n
Aampe Raises Early Stage Funding<\/b><\/h3>\n
IFC Leads $24 Mn Round In Insurtech Firm Onsurity<\/b><\/h3>\n
Harmony Ventures Backs Jiraaf As New Investor In Series B Round<\/b><\/h3>\n
Agnikul Pockets $27 Mn Cheque From Celesta Capital, Others\u00a0<\/b><\/h3>\n
Mergers & Acquisitions<\/b><\/h2>\n
Tiger Global Backed Slice Merges With North East Small Finance Bank<\/b><\/h3>\n
Birla Carbon Snaps Up Belgium Carbon Nanotubes Maker<\/b><\/h3>\n
A91 Partners-Backed VideoVerse Buys Optikka In Second Purchase Of The Year<\/b><\/h3>\n
PE-Backed Dutch Firm NewCold Strikes First India Warehousing Deal<\/b><\/h3>\n
Tata To Make Iphones In India After Buying Wistron Business<\/b><\/h3>\n