Private Equity Fund Investments
Temasek to invest $73-M stake in pharma co Integrace; True North to part exit
Singapore government backed investment firm Temasek Holdings is to invest about USD 73 million (INR 540 crore) - through a mix of primary and secondary transactions - in Mumbai-based pharmaceuticals-focused platform Integrace Pvt Ltd. Fellow private equity firm True North, which had originally invested in 2018 in Intergrace as a “spin out†from Glenmark Pharmaceuticals, will partly exit through the latest deal, but continue to hold a majority stake. Integrace is an orthopedic and gynecology -focused domestic formulations player. It currently manages 20+ brands and recently acquired two brands in women's health from Zydus Cadila.
From the Venture Intelligence PE-VC Deal Database: Between Aug-2018 and Jan-2020, TrueNorth had invested over USD 100 M in Integrace. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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