US-based private equity firm TPG is looking to acquire a 7% stake in epharmacy startup PharmEasy and has sought antitrust watchdog Competition Commission of India’s (CCI) permission for the same.
The regulatory filings highlight that TPG will carry out the proposed investment through its special purpose vehicle in Singapore. “API Holdings will use this financing to deepen its distribution network across India and build innovative technology-first products to connect the entire ecosystem and give affordable access to healthcare across India,” the filing read.
Though the filing did not disclose any other transactional details, a previous media report had revealed that TPG will invest $100 Mn in the healthtech startup along with media conglomerate Naspers. The report noted that Pharmaeasy will be valued at a unicorn valuation of $1.2 Bn for this round.