The Hindu Business Line : Aureos invests Rs 18.5 cr in research firm

Private equity fund Aureos Capital, which recently raised $100 million for investments in mid-sized companies in the country, on Wednesday announced its first investment in an Indian company.

The fund has invested Rs 18.5 crore in Accutest Research Labs, a Mumbai-based Clinical Research Organisation (CRO), a press release said here.

Mr Sivendran Vettivetpillai, Managing Director, Aureos Capital said, "We believe that Aureos can play a meaningful role in the growth strategies of the investee companies in India."

Aureos Capital is a leading private equity fund managers focused on small and medium enterprises worldwide with over $500 million under management. The India investments are routed through Aureos India. Aureos, which has 19 offices in emerging markets across Central America, Africa, and Asia, enjoys support of more than 50 institutional investors, including CDC, Norfund, IFC, ADB and FMO.

Aureos was formed in 2001 for taking over management of SME funds created by CDC (Commonwealth Development Corporation, UK) and sponsoring new SME funds in emerging markets. Today, CDC has approximately $120 million committed to Aureos funds worldwide.

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Aureos invests Rs 18.5 cr in research firm