MUMBAI, Feb. 4, 2020 /PRNewswire/ — Naari Pharma Private Limited (‘Naari’ or ‘Company’) announced that it has received an equity investment of about Rs. 125 cr. (US$ 17.5 mn) from Ascent Capital, a leading India-focused growth capital provider that has helped more than 60 entrepreneurs build businesses across diverse sectors such as pharmaceuticals, healthcare, technology, financial services and consumer brands.
Commenting on the development, Prithi S Kochhar, Co-Founder and CEO of Naari, said, “We are delighted to bring onboard Ascent Capital as our partner in Naari as we accelerate our plans towards becoming a leading niche global player in the field of women’s health. With Ascent’s investment, we are fully capitalized to fund our next phase of growth with investments in R & D, infrastructure and go-to-market initiatives. We now have all the key enablers in place towards achieving our revenue target of USD 100 million in the next 3-4 years, which should make us one of the top women’s health companies in the world.”
Commenting on the investment, Raja Kumar, Founder and MD of Ascent Capital, said, “We have been scouting for pharma platforms in niche domains with focus on global markets led by exceptional operating teams – Naari fits this bill perfectly. We are excited with this opportunity to build a global leader out of India and look forward to partnering with Prithi and team as they execute on their well laid out plans. Given our PE experience of more than 2 decades, we are confident of bringing complementary skills to this partnership that will support the team as they scale the platform to the next level.”
About Naari Pharma Private Limited
Naari is a vertically integrated global women’s health pharmaceutical business focused on hormones. It is one of the few companies globally that has development and manufacturing capabilities across intermediates, active pharmaceutical ingredients and finished dosage formulations (FDFs) for female hormones. With over 30+ hormonal generics which are currently available and under development, Naari has one of the most comprehensive hormonal portfolios in the world.
About Ascent Capital
Ascent Capital is a leading India-focused Independent Private Equity Fund Manager. The team at Ascent is one of the most experienced investment teams in India with 150+ years of collective experience in Indian PE and capital markets. Thus far, Ascent has helped more than 60 entrepreneurs build leading businesses across diverse sectors such as Technology, Healthcare, Financial Services, Consumer Brands, etc. It typically invests USD 10-30 MM in fast growing businesses, led by outstanding entrepreneurs, that have the potential to emerge as leaders in its segment thereby delivering exceptional exit outcomes. Ascent is backed by marquee investors, who include long term institutional investors like pension funds, foundations, endowments, fund of funds and large corporations – a vote of confidence in the team’s ability to excel and deliver results.
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