Rabo Equity invests in Indian biotech firm
Rabo Equity Advisors' India Agribusiness Fund has invested INR750 million ($13 million) in Beloorbayir Biotech, a Bangalore-based drug developer.
The net proceeds will be used for R&D and expanding into overseas markets. "We will also open a facility in the US for brand building and research and development," BG Bairy, managing director of Beloorbayir, told The Economic Times.
Founded in 1981, Beloorbayir develops ingredients for global nutraceutical, pharmaceutical, food and beverage makers. It also manufactures several drugs addressing high blood pressure, heart disease, obesity and diabetes. The company generated IND850 million in revenue last year.
"We think nutraceuticals is high growth, high potential sector and yet not developed in India. We are waiting for this to bloom," said Rajesh Srivastava, chairman of Rabo Equity Advisors.
Rabo has previously invested in Maharashtra-based Prabhat Dairy, alongside French development finance institution Proparco. Its portfolio also includes Super Agri Seeds, Daawat Food, Sri Biotech Laboratories and National Collateral Management Services.
More on North Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.