| Log in

Rajasthan Venture Capital Picks 11% In Frontier Lifeline

04 May, 2012

Rajasthan Venture Capital Fund (RVCF) has acquired 11 per cent equity stake in Chennai-based Frontier Lifeline Pvt Ltd for an undisclosed amount. RVCF has invested in this company through its Rs 200 crore SME Tech Fund.

The funding will enable Frontier Lifeline to finance its medicity project ‘Frontier Mediville’ in Tamil Nadu. The project is expected to be operational within one or two months.

Frontier Mediville includes a research and training centre and an animal laboratory to house clinical research organisation (CRO). The company had raised Rs 90 crore from State Bank of India  and Bank of Baroda for the first phase of the project and scooped around Rs 500 crore from private equity players in its second phase.

As a part of the funding, Girish Gupta, CEO of RVCF will join the board of the company.

“Healthcare industry is growing at 15 per cent compound annual growth rate (CAGR) and is expected to reach the market value of $280 billion by 2022. Private healthcare accounts for nearly 80 per cent of the country‘s total healthcare expenditure, even though it is more expensive than public healthcare services. Frontier Lifeline through its promoter and experienced team is set to leverage this burgeoning demand in India and outside,” said Gupta.

Established in 2003, Frontier Lifeline is currently running cardiac specialty hospitals at various locations in Tamil Nadu and Kerala.

RVCF SME Tech Fund invests in IT, education, retail, healthcare, agro products, auto components and other growth sectors.

Earlier RVCF had acquired 32 per cent stake in Mumbai-based NexTenders (India) Pvt Ltd for an undisclosed amount in its first round of funding. It alsoinvested Rs 15 crore in the second round of funding of PR Packaging Ltd (PRP), a packaging company located in Faridabad and Rs 15 crore in Series A funding of Leeway Logistics Ltd (LLL) which operates as a third-party logistics (3PL) player with an asset-light business model. 


Leave Your Comment
International Oncology raises $3.7M from Rajasthan VC Fund

International Oncology raises $3.7M from Rajasthan VC Fund

Bhawna Gupta 5 years ago
Rajasthan Venture Capital Fund (RVCF) has invested Rs 20 crore ($3.7)...
Rajasthan Venture Capital Fund targets over $80M in third fund

Rajasthan Venture Capital Fund targets over $80M in third fund

Lohit Jagwani 4 years ago
Rajasthan Venture Capital Fund (RVCF), which essentially chases investments in...
News Roundup: Frontier Lifeline Hospitals in talks to raise around $93M

News Roundup: Frontier Lifeline Hospitals in talks to raise around $93M

TEAM VCC 5 years ago
K M Cherian, a noted cardiac surgeon and founder of Frontier Lifeline Hospitals,...
No Comments

Rajasthan Venture Capital Picks 11% In Frontier Lifeline

Powered by WordPress.com VIP