PE Fund Investments
Quadria Capital invests $100-M in Aragen Life Sciences; early investors make part exit
Investor Announcement BusinessLine
Hyderabad-based contract research development and manufacturing organisation (CRDMO) Aragen Life Sciences has raised USD 100 million from healthcare-focused private equity fund Quadria Capital, at a valuation of about USD 1.4 Billion. The investment involved fresh capital infusion, alongside a small secondary sale of shares by existing investors.The primary funds will be used in Aragen’s expansion of its capabilities and infrastructure, enabling the company to meet the growing demand for outsourcing services from innovators in the United States and Europe.Aragen provides drug discovery and development services to pharmaceutical, agrochemical and biotech firms. Promoters Gunupati Aparna Reddy (as a trustee of Reddy Investment Trust) and Davinder Singh Brar (former Ranbaxy CEO) own 33.7% each, while Goldman Sachs has about 31.3% stake in the firm. The rest is held by an employee welfare trust and others.
Between Nov 2007 and May 2021, Aragen Life Sciences had raised about USD 397M from Peak XV Partners, ChrysCapital and Goldman Sachs.
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