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Private Equity
evolvenceindia.com

Investments

24

Portfolio Exits

2

Funds

1

About Evolvence India

Evolence India is an India focused Private Equity platform for providing international investors with attractive returns within the private markets in India.

Headquarters Location

Suite 9F Grand Hyatt Plaza Santacruz - E

Mumbai, 400055,

India

+91 22 6164 5100

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Latest Evolvence India News

General Atlantic to acquire a majority stake in Amar Ujala’s healthcare chain-Business Journal

Dec 22, 2023

Global funding agency General Atlantic (GA) is wanting to acquire about 51 % of Amar Ujala’s Ujala Cygnus Healthcare Services for ₹1,600 crore, the Economic Times reported. This consists of stakes held by current buyers Eight Roads Ventures India, Evolvence India Fund, and Somerset Indus Healthcare Fund. In addition to this, GA will even acquire a small minority stake from the promoters and a main stake, sources instructed the paper. They added that the deal is at the moment in the documentation stage, and is anticipated to be finalised throughout the subsequent few weeks. EY’s funding banking arm is advising on the stake sale. Established in 2011, Ujala Cygnus Healthcare Services presently operates 19 hospitals throughout Tier-II and Tier-III cities in Haryana, Uttar Pradesh, Uttarakhand, Jammu & Kashmir, and Delhi, with over 1,800 beds capability. Sources venture the hospital chain to generate roughly ₹600 crore in income, with an EBITDA of round ₹120 crore in FY24 as per the report. The Chain This transfer follows Amar Ujala’s acquisition of a majority stake in Cygnus Medicare, which operated a community of 10 tremendous specialty hospitals, for roughly ₹130 crore in 2019. Post-acquisition, two Ujala Healthcare hospitals had been amalgamated with Cygnus, with Amar Ujala holding a vital stake and administration management in the merged entity. The company’s ahead trajectory includes increasing main and preventive healthcare accessibility throughout Uttar Pradesh, Haryana, Uttarakhand, and Jammu & Kashmir, it stated. They purpose to set up an extra 10 hospitals throughout the subsequent couple of years, intending to broaden their presence in Madhya Pradesh, Rajasthan, and Bihar, as acknowledged on the corporate web site. Efforts to attain out to General Atlantic , Shuchin Bajaj (Director, Ujala Cygnus), yielded no response, as per the report. GA has established a presence in the Indian healthcare sector via investments in Rubicon Research, ASG Eyecare, and Hyderabad-based KIMS Hospitals. India’s Healthcare Sector India’s under-tapped hospital sector has attracted substantial investments from world PE funds. Notably, Blackstone-owned CARE Hospital emerged because the fourth-largest hospital platform in India after latest acquisitions. Various worldwide entities, corresponding to Canada’s Ontario Teachers’ Pension Plan Board (OTPP), Asia-focused Baring PE Asia, and Singapore government-owned Temasek, even have vital stakes in completely different Indian healthcare chains, underlining the worldwide curiosity in this sector. The Indian healthcare phase has proven a sturdy compounded annual progress charge (CAGR) of round 22 % since 2016, projected to attain $372 billion in 2022, in accordance to a 2021 NITI Ayog report. However, the 2020 Human Development Report highlighted India’s place at one hundred and fifty fifth globally in mattress availability, with 5 beds and eight.6 docs per 10,000 folks. A latest PwC report estimates that the hospital business in India will necessitate an funding of roughly $245 billion over the following 20 years. The report underscores the necessity to add 3.6 million beds, 3 million docs, and 6 million nurses to meet the rising healthcare calls for in the nation. Milestone Alert! Livemint tops charts because the quickest rising information web site in the world 🌏 Click here to know extra. Unlock a world of Benefits! From insightful newsletters to real-time inventory monitoring, breaking information and a customized newsfeed – it is all right here, simply a click on away! Login Now! Catch all of the Corporate news and Updates on Live Mint.

Evolvence India Investments

24 Investments

Evolvence India has made 24 investments. Their latest investment was in AgroStar as part of their Series F on April 06, 2023.

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Evolvence India Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/6/2023

Series F

AgroStar

$40M

No

2

12/26/2022

Series E

MoneyView

$75M

No

17

12/6/2022

Series B

Renee Cosmetics

$25M

Yes

11

5/4/2022

Unattributed

Subscribe to see more

$99M

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10

4/27/2022

Series C - II

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$99M

Subscribe to see more

10

Date

4/6/2023

12/26/2022

12/6/2022

5/4/2022

4/27/2022

Round

Series F

Series E

Series B

Unattributed

Series C - II

Company

AgroStar

MoneyView

Renee Cosmetics

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Amount

$40M

$75M

$25M

$99M

$99M

New?

No

No

Yes

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Subscribe to see more

Co-Investors

Sources

2

17

11

10

10

Evolvence India Portfolio Exits

2 Portfolio Exits

Evolvence India has 2 portfolio exits. Their latest portfolio exit was Mamaearth on November 07, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/7/2023

IPO

$99M

Public

5

3/19/2021

IPO

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$99M

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10

Date

11/7/2023

3/19/2021

Exit

IPO

IPO

Companies

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Valuation

$99M

$99M

Acquirer

Public

Subscribe to see more

Sources

5

10

Evolvence India Fund History

1 Fund History

Evolvence India has 1 fund, including Evolvence India Fund IV.

Closing Date

Fund

Fund Type

Status

Amount

Sources

Evolvence India Fund IV

1

Closing Date

Fund

Evolvence India Fund IV

Fund Type

Status

Amount

Sources

1

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