India Value Fund picks minority in Cloudnine Hospitals for $60m

Visual from Cloudnine Hospitals website

India Value Fund Advisors (IVFA) on Thursday said it has invested Rs.400 crore for a significant minority stake in Bengaluru-based maternity and infant care chain Cloudnine Hospitals, joining existing investors Matrix Partners India and Sequoia India.

This would be the third round of fund-raising for Cloudnine. The company raised Rs.100 crore ($16 million) in its second round led by Sequoia India and existing investor Matrix Partners India in 2013. Matrix had invested Rs.45 crore in the company in 2011 as well.

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