Mumbai: IDFC Alternatives has signed an agreement to invest Rs 75 crore in eye care chain ASG Hospitals. The investment will be pumped in through IDFC Alternatives PE fund IV.
ASG runs 24 operating centers across nine states apart from a center in Kampala, Uganda.
Sequoia India is an early investor in the company, having made a Series investment in 2013.
This is the second investment from IDFC Private Equity Fund IV and the first investment from this fund in health care. IDFC Alternatives has over USD 3.6 billion assets under management and focuses on consumer products and services, financial services, and healthcare.
With this, IDFC PE has completed 43 investments since its inception and is a 100 per cent subsidiary of IDFC.