ChrysCapital invests $20m in India's Curatio
ChrysCapital has invested $20 million in Indian skin and hair products producer Curatio, providing a partial exit for its private equity backer Fulcrum Ventures.
Curatio plans to leverage ChrysCapital’s experience in the pharmaceutical sector to accelerate its domestic growth plans. The company has a medical field force of 500 employees in India that deal with over 2,000 doctors in the country. It is also present in Sri Lanka, Nepal and the Philippines.
Curatio was founded in 2005 by a team of former executives from Indian nutritional supplement and antifungal developer American Remedies. The company focuses on the pediatric skincare market with brands such as newborn bath soap Tedibar and skin cream Atogla, and it also makes hair and skin care products for adults.
Fulcrum invested an undisclosed amount of seed funding in Curatio in 2005. In a statement Fulcrum said ChrysCapital’s investment will give it a 15x return and a 40% IRR for a stake of undisclosed size. This is the firm’s second partial exit from Curatio, following the sale of a 33% holding to Sequoia Capital in 2014 that generated a 6x return.
ChrysCapital is currently investing its seventh fund, which closed last year at $600 million. The fund seeks minority growth and select control deals across a range of sectors including healthcare, business services and financial services.
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