Strategic Ventures Fund (SVF) exits Shilpa Medicare

Strategic Ventures Fund (SVF), a private equity and PIPE fund managed by Frontline Strategy Limited, has completely divested its investment in Shilpa Medicare, India’s leading oncology API Company. SVF has made a total of 15 investments in Indian companies and this is SVF’s 8th complete divestment. SVF had originally invested in Shilpa Medicare in October 2005 to provide growth capital to the company, which allowed the company to double its manufacturing capacity. SVF also assisted Shilpa Medicare in its acquisition of an Austrian pharmaceutical company in 2008. The fund has made a total return of 4x on its investment in Shilpa Medicare.

Harish Fabiani, Director, SVF, commenting on the investment, said “Shilpa Medicare, under the leadership of Mr. Vishnukant Bhutada, has scaled up in an impressive manner. We are extremely happy to have played a part in its development as a well positioned leading player in the Oncology API market”

Vishnukant Bhuda, Managing Director, Shilpa Medicare, said “We thank Strategic Ventures Fund for its active role in guiding the company at the Board level and actively assisting us in reaching our current growth levels. We shall treasure our association with the fund.”