7/8/2016

Exclusive:CreadorbetsonGujaratbaseddrugmaker|VCCircle

ABOUT VCCEDGE TECHCIRCLE INFRACIRCLE EVENTS TRAINING AWARDS MOBILEAPPS CAREERS

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Thursday,July7,201617:33IST

Exclusive:CreadorbetsonGujaratbased
drugmaker
BYDEBJYOTIROY&SWETSARIKA

ShahJunaid/VCCircle

Creador,aprivateequityfirmfocusedonSouthandSoutheastAsia,hasstruckitsmaiden
dealinthehealthcaresectorinIndiaandwhatisitsfirstknowninvestmentfromthelatest
fund,twopersonsfamiliarwiththedevelopmenttoldVCCircle.
ThefirmisinvestinginAhmedabad,Gujaratbasedsmallsizedpharmaceuticalcompany
CoronaRemediesPvtLtdthroughamixofafreshissueofsecuritiesandpurchaseofshares
fromexistingshareholders.
CreadoristoinvestatotalofRs118crore($17.4million)topickupa19.51%stakeinthe
privatelyheldfirm,valuingitaround$90million.Outofthetotal,Rs100crorewouldbe
infusedintothecompany.

UPCOMINGEVENTS

ThetransactionisbeingroutedthroughCreadorIIILP,thethirdfundfloatedbythePEfirm
lastyear,oneofthepersonscitedabovesaid.
ThiswouldbeCreadorsfirstinvestmentinthehealthcaresectorinthecountryandthe
seventhtodate.
Corona,whichwaslaunchedin2004,makestablets,capsules,syrups,ointments,gum
paintsandinjectables.Thecompanyclaimstohaveapresenceinatleast20statesinthe
countryandcovers20,000pharmaciesandhospitals.Ithasamanufacturingfacilityin
Solan,HimachalPradesh,andhas1,100employees.
ThecompanypostednetsalesofRs178crorein201415comparedwithRs136crorethe

http://www.vccircle.com/news/pharmaceuticals/2016/07/07/exclusivecreadorbetsgujaratbaseddrugmaker?destination=node/42689%3Futm_source%3DVC

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7/8/2016

Exclusive:CreadorbetsonGujaratbaseddrugmaker|VCCircle

yearbefore,accordingtoVCCEdge,thedataresearchplatformofVCCircle,basedonfilings
ABOUT VCCEDGE TECHCIRCLE INFRACIRCLE EVENTS TRAINING AWARDS MOBILEAPPS CAREERS
withtheRegistrarofCompanies.Thefinancialsforthelastfiscalyearcouldntbe

IndiaFinServ2016

Search

28thJul,2016,TajLandsEnd,
Mumbai

immediatelyascertained.
EmailqueriestoCoronaandCreadorwentunansweredbutaseniorexecutiveatthePEfirm

TechcircleStartup2016
DelhiEdition

acknowledgedthedeal.

10thAug,2016,Gurgaon

Welikecompaniesthataregrowingorganically,havereachedacertainlevelandare

VCCircleHealthcare
InvestmentSummit

lookingtoraisecapitaltogrowfromthatplatform.Wehaveamodelwhichisproven,sowe
liketofollowthatforallourinvestments.Thecompany(Corona)islargelyengagedin

21st22ndSep,2016,ITC
Maratha,Mumbai

manufacturingformulationsfordomesticmarkets,earning9095%ofitsrevenuefromlocal
markets,hesaid,requestinganonymityasthedealisyettobeclosed.

VCCircleAgri&Food
Summit2016

Otherdealsinsmallpharma

25thOct,2016,TajLandsend,

AbunchofsmalldrugmakershaveattractedPEfundinginthepastyear.TanoCapitalhas
investedinWindlasBiotechLtdandIndiaLifeSciencesFundIIhasbackedSynergiaLife
SciencesPvtLtd.
Also,CelonLaboratoriesLtdhasraisedfundingfromSequoiaCapitalandEightRoads
Ventures,earlierknownasFidelityGrowthPartners.

Creadorsportfolio
Creador,whichwasfoundedin2011byBrahmalVasudevan,aformergeneralpartnerand

Tweetsabout@vccircle

managingdirectoratChrysCapital,hadearlierinvestedinAshianaHousingLtd,
CholamandalamInvestmentandFinanceCompanyLtd,PCJewellerLtd,SomanyCeramics

AdilHameedRetweeted
VCCircle.com
@vccircle

Ltd,VectusIndustriesLtdandRepcoHomeFinanceLtd.
Lastmonth,thePEfirmexiteditsfouryearoldinvestmentinMurugappaGroupsnon
bankingfinancecompanyCholamandalam.

What#BrexitmeanstoAsian#Investors.
Readthecolumn!
vccircle.com/byinvitation/2

Lastyear,thePEfirmcompleteditsmultibaggerdebutexitfromanIndianportfoliofirm
bysellingitsentirestakeinmortgagelenderRepcoHomeFinance,sevenyearsafterithad
madetheinvestment.
ApartfromIndia,CreadorhaspresenceinothercountriesincludingIndonesia,Malaysiaand
Singapore.SomeofitssignificantportfoliofirmsoutsideIndiaincludeIndonesiascereal
andsnacksmanufacturerSimbaIndosnackMakmurandmultifinancecompanyBFIFinance,
MalaysianfashionbrandBoniaGroup,SoutheastAsianpaymentsolutionsproviderGHL
SystemsBerhadandIndonesianprivatecommercialbankBankIndexSelindo.

25m

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Tags:Creador,CoronaRemedies,WindlasBiotech,BrahmalVasudevan,AshianaHousing,Cholamandalam,
PCJeweller,SomanyCeramics,privateequity,PE

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