​Apollo Health receives 450 crore INR from IFC

Franchise India Bureau December 13 2016 - 7 min read
​Apollo Health receives 450 crore INR from IFC
Apollo Health and Lifestyle will use the money to expand its network of clinics, cradle and diagnostic centres.

Apollo Health and Lifestyle Limited (AHLL), an Apollo Group initiative to take healthcare services from the hospitals and also a leading player in the retail healthcare segment, has received a Rs450 crore investment from International Finance Corporation and IFC Asset Management Company.

Apollo Health and Lifestyle will use the money to expand its network of clinics, cradle and diagnostic centres.

Accel, a leading early- and growth-stage venture capital firm, has closed its fifth India fund of USD 450 million, which it will exclusively invest in seed and early stage start-ups across sectors such as consumer, enterprise/SaaS, financial technology, India B2B and healthcare.

Some ventures that Accel has invested in include BookMyShow, BlueStone, CommonFloor (since acquired by Quikr), Flipkart, FreshDesk, Myntra, Portea, Swiggy, TaxiforSure (since acquired by Ola) and UrbanClap.

More than 80 per cent of its over 100 investments in India started out as seed investments.

Jungle Ventures, a Singapore-based venture capital firm, has closed its second fund of USD 100 million.

The new fund will focus on Series A and Series B investments in South East Asia, India and Australia. Jungle Ventures has invested in Indian companies such as RedDoorz, Livspace, Moglix, Pokkt and ZipDial (since acquired by Twitter).

Shiksha Financial Services India Pvt Ltd, which provides loans to private schools in urban and semi-urban areas to improve education infrastructure, has raised about Rs 6.6 crore (USD1 million) from Aspada Investment Company with co-investment from the Michael and Susan Dell Foundation.

Shiksha will use the money to strengthen its technology backbone, launch more products and expand into new markets. It will enable the company to provide loans to over 2,300 schools in the next three years. Shiksha also provides loans to middle- and low-income families to finance school fees.

SARE Homes has raised Rs 450 crore from financial solutions company Altico Capital and global private equity investor KKR. It will use the money for a township project in Gurugram. Altico’s contribution of Rs 315 crore will be used to refinance existing debt and towards project expenses, while KKR has provided an additional Rs 120 crore for construction, augmenting its existing facility of Rs 95 crore.

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