PE Fund Investments
Dental clinics chain Clove Dental attracts $50-M from QIA
Qatar Investment Authority (QIA), the sovereign wealth fund of Qatar, has invested USD 50 million (about INR 417 crore) in Delhi-headquartered Global Dental Services, which runs a dental clinic chain under the brand Clove Dental. The new capital raised from QIA will be used by the company to expand its dental clinic network as well as to enter new categories in dental care such as dental beauty and everyday dental care products business. Founded in 2011, Global Dental Services claims to operate 422 company-owned and operated dental clinics across 24 cities in 12 states. Besides Delhi-National Capital Region (NCR), where it has 130 clinics, Clove Dental has a strong presence also in Bengaluru, Hyderabad, Chennai, Ahmedabad, Pune and Chandigarh. Clove had raised USD 66 million in November last year in a round led by Bahrain's Investcorp.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
