InvAscent, a healthcare private equity firm, announced that it is investing Rs 70 crore in Murli Krishna Pharma Pvt. Ltd, a drug delivery systems (DDS) company in India that provides a range of effective solutions to optimize the delivery of pharmaceutical products.
InvAscent has put Rs 70 crore ($9.25 million) in the Pune-based company, the Mint newspaper said citing Nithya Govind, vice-president of the PE firm. This is InvAscent’s sixth deal from its third healthcare fund India Lifesciences Fund-III.
Founded in 2004 by Satya Vadlamani and Vijay K Shastri, Murli Krishna Pharma manufactures Pre-finished Formulation Intermediates that is approved for GMP Compliance by the WHO and the European Union.
InvAscent provides growth capital to companies in the Indian pharmaceutical, healthcare and medical-technology industries.
InvAscent is the investment advisor to EILSF (Fund I), India Life Sciences Fund II (ILSF-II) and India Life Sciences Fund III (ILSF-III). These funds provide private equity growth capital to companies in the Indian pharmaceutical, healthcare, animal health and medtech industries. Fund-I made 8 investments during the period 2007-12 and has exited all 8 investments. ILSF-II is completely invested in 12 investments during the period 2013 – 18. ILSF-III has made 3 investments to date.
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