Emerging Entrepreneurs

Grofers raises over ₹1,400 cr

Our Bureau | Updated on May 27, 2019 Published on May 27, 2019

Online grocery retailers Grofers has raised over ₹1,400 crore ($200 million) in a Series F round led by SoftBank Vision Fund. With this, the company has raised $350 million. Other investors in the latest round are KTB of Korea and existing investors Tiger Global and Sequoia Capital. Grofers will use the money to expand in South India. It will also triple its warehousing capacity in Bengaluru, Hyderabad and Chennai.

TPG Growth to sell CTSI to Varian

TPG Growth, the middle market and growth equity platform of alternative asset firm TPG, has signed an agreement to sell Cancer Treatment Services International (CTSI) to Varian Medical Systems for $283 million. CTSI is part of Asia Healthcare Holdings, a healthcare operating platform founded by TPG Growth. CTSI owns and operates a network of cancer treatment facilities across India and South Asia. TPG invested in CTSI in 2016. From one facility in Hyderabad, it has grown to 11 cancer hospitals in three years with six more in the pipeline.

Warburg, Runwal group eye malls

The Runwal group has formed an equal joint venture with an affiliate of private equity firm Warburg Pincus to create a retail mall investment platform. The two will commit $200 million each in the form of equity and raise $600 million through debt to create a $1-billion corpus. The platform will develop and invest in shopping malls in tier 1, 2 and 3 cities in India.

Published on May 27, 2019
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