Evolvence invests Rs 25 crore in Anjan Drugs

10th Jun 2009
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VCCircle reports that Evolvence India Life Sciences Fund (EILSF) has invested Rs 25 crore in Chennai-based pharmaceutical company, Anjan Drugs Pvt. Ltd. With $150 million worth assets under management (AUM) the fund provides growth capital to Indian pharmaceutical and biotechnology companies. Last the year, the fund had invested $30 million in the Hyderabad-based advanced drug delivery mechanism company, Gland Pharma. EILSF has also invested about $5 million in Bangalore-based cancer centre network, Health Care Global.


About two months back, Indian Angel Network invested $500,000 in Karmic Life Sciences, Mumbai-based oncology focused contract research organisation (CRO). Similarly, Rx HealthCare Magic, which runs a healthcare portal HealthcareMagic.com, raised Series A funding of $2.5 million from Accel India in February this year. Among other merger and acquisition deals include diagnostic chain Metropolis' acquisition of two pathlabs in northern India. Yash Birla Group acquired a majority stake in Kerala Vaidyashala, in January. Recently, Sabre Capital too set up a company called Spring Healthcare Ltd through which it plans to make investments of around Rs 250 crore in the Indian healthcare space.

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