India: A91 Partners said to have invested $30m in La Renon Healthcare

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A91 Partners, a venture capital firm floated by former Sequoia Capital executives, has invested $30 million (Rs 220 crore) in pharmaceutical company La Renon Healthcare Pvt Ltd.

According to a report in The Economic Times, the investment has valued the Ahemdabad-based pharmaceutical company at $500 million.

“A91 has picked up around 5-6% stake in the company, while Sequoia will continue to hold around 12.5% stake,” the report said quoting Pankaj Singh, founder and chief executive of La Renon. Singh will continue to hold the remaining stake in the company.

La Renon plans to utilise the proceeds to strengthen its product portfolio and R&D capabilities, it added.

Established in 2007, La Renon caters to therapy areas of nephrology, critical care, neurological disorders, urology, gastroenterology, respiratory, cardiovascular, metabolic diseases and gynaecology.

The company has expanded its operations across Latin America, Middle East, Africa, Southeast Asia, and CIS and recently expanded its manufacturing plant, making it compliant with international accreditations in Europe, Australia, UK and Brazil.

Mumbai-based A91 Partners, which was was floated in 2018, had closed its maiden fund at $350 million in July 2019. According to a report in VCCircle, the firm is looking to launch its second fund soon. It counts fan maker Atomberg, B2C spices brand Pushp, insurance distributor Go Digit, small business lender Aye Finance, beverage brand Paper Boat, and make-up brand Sugar Cosmetics among its portfolio companies.

 

 

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.