Private Equity Fund Investments
E-pharmacy unicorn PharmEasy attracts $350-M from Amansa, ApaH Capital, others
Mumbai-based online pharmacy PharmEasy, via its parent company API Holdings, has raised nearly USD 350 million ahead of filing its draft red herring prospectus (DRHP) for an IPO. The company has raised around USD 204 million (more than INR 1,505 crore) in primary funding from Singapore-based Amansa Capital, Blackstone-backed hedge fund ApaH Capital, US hedge fund Janus Henderson, OrbiMed, Steadview Capital, Abu Dhabi's sovereign wealth fund ADQ, hedge fund Neuberger Berman and London's Sanne Group. PharmEasy has also seen a USD 130-140 million secondary share sale through which early investors and angel investors have sold their stakes, while IIFL's tech fund has picked up shares. Following the pre-IPO round, the Unicorn's post-money valuation has jumped to USD 5.6 billion. Amansa Capital has put in almost INR 370 crore, while Sanne Group has invested over INR 443 crore and Steadview Capital, INR 110 crore. Janus Henderson-managed funds have invested close to INR 100 crore and ADQ, around INR 74 crore. New York-based Neuberger Berman and others have accounted for the rest of the money raised. PharmEasy has also added five new independent directors to its 12-strong board and received board approval to convert itself into a public company from a private entity.
From the Venture Intelligence PE-VC Deal Database: Starting Jan-16, PharmEasy had raised more than INR 10,766 crores from investors including Think Investments, B Capital Group, Prosus Ventures, Orios VP, TPG Growth, Kotak Investment Advisors, Temasek, Tiger Global, JM Financial, Lightrock India, CDPQ, Eight Roads Ventures, Fundamentum, Bessemer, KB Investment, Aarin Capital, Astarc Ventures and Trifecta Capital
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