Alternative asset manager Investcorp on Monday said it has closed Rs 316 crore investment in dialysis service provider NephroPlus.
The primary capital raised in this round will be utilised towards organic growth in India and taking the proven business model of NephroPlus to other markets, starting with South East Asia, Investcorp said in a statement.
"Earlier, investors in NephroPlus include Bessemer Venture Partners and IFC, who will continue to stay invested alongside Investcorp, with one of the earlier investors, SeaLink Capital, exiting," it added.
NephroPlus aims to build a regional network of dialysis centers spanning India and select countries in Asia and the Gulf Cooperation Council (GCC) region, the statement said.
"We look forward to supporting Vikram (NephroPlus Founder) to realize the full potential of the NephroPlus business model, both in India and abroad," Investcorp India, Co-Head of Private Equity Gaurav Sharma said.
Investcorp's investment in NephroPlus is in line with their strategy to tap into sustainable business models in the mass consumption driven Indian market, the statement said.
"My co-founder Kamal Shah and I are delighted to welcome Investcorp at this stage into NephroPlus. We selected them because of their strong global network in key markets where we intend to now focus, as well as their deep understanding and experience of investing in the healthcare space in India and across the globe in the US, Europe and Middle East," NephroPlus Founder and CEO Vikram Vuppala said.
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