Strategic Ventures sees 4x return on CBaySystems stake sale
Strategic Ventures Fund (SVF), a Mauritius-based private equity fund managed by Frontline Strategy Limited, has sold its stake in in Indian clinical-services outsourcing specialist CBaySystems, for a 4x return on its original investment, AltAssets reported.
SVF had made a 15 investments in India, and this is SVF’s 11th completed divestment, the fund said in a statement. The investment in the healthcare firm was made via multiple tranches between March 2002 to March 2005. This growth funding enabled the company to make acquisitions in other global healthcare BPO firms, including Medquist and Spheris. CBaySystems listed on Londons AIM Stock Exchange in 2007.
Atim Kabra, managing partner of Frontline Strategy, said in a statement that the fund attributes the investment's success "to the visionary leadership provided by Mr. Raman Kumar, the founder of CBay and the Management team which has worked hard over the years to successfully scale up the company.”
CEO of CbaySystems Raman Kumar will continue working with SVF as a member of its investment committee to advise on future funds.
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