Baring Private Equity Partners India (Baring India), an advisor to Baring Funds that currently has over?$1 billion of assets under management and? partners with companies for long-term value creation?on Monday announced an investment of?up to $15 million ($10 million now to be increased up to $15 million later) in? Sphaera Pharma , a Manesar-based (Haryana) integrated drug discovery and development company.
Announcing the investment, Akhil Awasthi, Partner – pharmaceuticals and healthcare practice said, ?Baring Funds believe that India would continue to provide leverage in R&D for global pharma even in a challenging economic scenario.? They see huge potential in Sphaera, with its outstanding management team and optimal focus on therapeutic areas, to carve out a niche for itself in this sector. Having invested in companies with a unique blend of innovation and services in the past, they hope to leverage our domain experience and expertise, to help Sphaera Pharma achieve its goals.?
The investment will be sourced from Baring?s India?dedicated corpus of $550 million. Awasthi?told FE, ?At Baring, we identify the sectors in economy? registering an? above average growth rate and make long-term investments. We are also amenable to acquire majority stake, supermajority stakes and even complete buy-outs. We are on a look out for superior team that can execute the business plan in their entirety.?
Sphaera has a highly competent and dedicated team? working since two decades.??