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India Value Fund invests Rs 400 cr in Cloudnine

PRESS TRUST OF INDIA

New Delhi, December 24

Venture capital fund India Value Fund Advisors(IVFA) has invested RS 400 crore in women and child healthcare hospital chain Cloudnine for a minority stake.

As a result, IVFA Managing Director Siddharth Dhondiyal and partner at IVFA Sanjay Arte have joined Cloudnine’s board as directors.

“IVFA’s expertise in building woril-class enterprises, deep understanding of the healthcare sector and ability to provide long-term strategic capital make them an ideal partner for our next stage of growth,” Cloudnine Managing Director Rohit MA said.

The Company will be looking to invest at strategic opportunities to build capacity, disruptive customer services and medical techonologies to enhance the overall experience, he added.

Cloudnine is IVFA’s eighth investment in the Indian healthcare industry with prior investments in Care Hospitals, Biocon, TIK Healthycare, DM Healthcare, Manipal Hospitals, Trivitron Healthcare and Syngene, IVFA and Cloudnine said in a joint statement.

The company will be looking to invest at strategic opportunities to build capacity, disruptive customer service and medical tech to enhance the overall experience.

Original Source: The Hindu Business Line

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