Bahrain’s Investcorp invests $45m in Indian dialysis chain NephroPlus

Photo: Reuters

Global alternative asset manager Investcorp has invested about $45 million (about Rs 323 crore) in Hyderabad-headquartered Indian dialysis services provider NephroPlus, providing an exit to one of the company’s existing investors.

“Glad to share that we have closed our $45 million Series D fund raise that includes primary capital and also exit to one of our investors. Our team across the country has worked amazingly hard on this over last 6 months,” NephroPlus founder Vikram Vuppala shared via a LinkedIn post on Monday.

“Kamal Shah [other founder] and I look forward to working with Investcorp, BVP and IFC to continue to make massive impact to redefine dialysis in India, Asia and Middle East,” Vuppala added.

According to a report in The Economic Times, the investor to have exited NephroPlus is SeaLink Capital Partners, the investment firm founded by former KKR senior executive Heramb Hajarnavis. SeaLink was reported to have invested about Rs 90-Rs 100 crore in the nine-year-old company.

The company also counts Bessemer Venture Partners and International Finance Corp (IFC), a part of the World Bank group, among its list of backers.

Founded in 2010, NephroPlus has about 196 centres, spread across 116 cites in 20 states across the country.  The company works on a revenue-sharing model, and has tied up with a number of the country’s top hospitality and medical establishments, including, Max, Medanta and FMRI.

Meanwhile, Bahrain-based alternative investment manager Investcorp aims to grow its business in India to $1.5 billion in assets under management over the next five years, Mint reported recently.

Investcorp entered the Indian market through the acquisition of the private equity and real estate investment businesses of IDFC Alternatives in January this year. The company is also in the process of raising its maiden fund for the Indian market. Last month, Investcorp also led an investment of about Rs80 crore in online fashion retailer Bewakoof.com.

Globally, Investcorp currently has $28 billion worth of assets under management, which it plans to nearly double to $50 billion by entering new geographies and new lines of business.

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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.