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Apollo Health and Lifestyle, a wholly owned subsidiary of Apollo Hospitals Enterprise Ltd and a leading player in the retail healthcare segment, has received a ₹450-crore investment from International Finance Corporation and IFC Asset Management Company. Apollo Health and Lifestyle will use the money to expand its network of clinics, cradle and diagnostic centres.
Accel closes $450-m fund
Accel, a leading early- and growth-stage venture capital firm, has closed its fifth India fund of $450 million, which it will exclusively invest in seed and early stage start-ups across sectors such as consumer, enterprise/SaaS, financial technology, India B2B and healthcare. Some ventures that Accel has invested in include BookMyShow, BlueStone, CommonFloor (since acquired by Quikr), Flipkart, FreshDesk, Myntra, Portea, Swiggy, TaxiforSure (since acquired by Ola) and UrbanClap. More than 80 per cent of its over 100 investments in India started out as seed investments.
$100-m fund for Jungle Ventures
Jungle Ventures, a Singapore-based venture capital firm, has closed its second fund of $100 million. The new fund will focus on Series A and Series B investments in South East Asia, India and Australia. Jungle Ventures has invested in Indian companies such as RedDoorz, Livspace, Moglix, Pokkt and ZipDial (since acquired by Twitter).
Shiksha Finance gets ₹6.6 cr
Shiksha Financial Services India Pvt Ltd, which provides loans to private schools in urban and semi-urban areas to improve education infrastructure, has raised about ₹6.6 crore ($1 million) from Aspada Investment Company with co-investment from the Michael & Susan Dell Foundation. Shiksha will use the money to strengthen its technology backbone, launch more products and expand into new markets. It will enable the company to provide loans to over 2,300 schools in the next three years. Shiksha also provides loans to middle- and low-income families to finance school fees.
SARE Homes receives ₹450 cr
SARE Homes has raised ₹450 crore from financial solutions company Altico Capital and global private equity investor KKR. It will use the money for a township project in Gurugram. Altico’s contribution of ₹315 crore will be used to refinance existing debt and towards project expenses, while KKR has provided an additional ₹120 crore for construction, augmenting its existing facility of ₹95 crore.
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