Hexagon Nutrition raises Series A funding from Somerset Indus Capital

By Bhawna Gupta

December 8, 2016

Mumbai-based pharmaceutical company Hexagon Nutrition Pvt Ltd has raised an undisclosed amount in Series A growth capital round from Somerset Indus Capital Partners, a source close the the development told DEALSTREETASIA. The deal was closed last week.

Hexagon Nutrition plans to use the money to grow its branded consumer business segment globally.

Founded in 1991, Hexagon Nutrition offers branded nutrition products & micro nutrient premixes. The company predominantly operates in two segments including premix segment-where micro nutrient premixes are supplied across 70 countries and clinical nutrition segment. The company’s branded products in this segment include Pentasure, Pedia Gold, Obesigo etc. These products are supplied to hospitals.

An email query sent to Hexagon Nutrition’s spokesperson seeking more details did not elicit a response at the time of publishing this article.

Mumbai-based healthcare-focused private equity firm Somerset Indus Capital Partners primarily invests in growth-oriented healthcare companies in India. It typically invests $5 million in a firm and has made several investments in the recent past. It was looking to raise around $125 million in its second fund.

The company’s $27 million Somerset Indus Healthcare Fund I has backed companies like medical devices firm Browndove Healthcare and specialty hospitals operator Cygnus Medicare, primary clinic chain Express Clinics, and Krsnaa Diagnostics Pvt Ltd.

The PE firm is led by Avinash Kenkare and Mayur Sirdesai.

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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. 
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