Hyderabad-based Song Investment Advisors has invested in two new portfolio companies – secondary care hospital chain Be Well Hospitals and potato supply chain management company SV Agro Processing. Song is the first institutional investor in both the companies.
An e-mail query sent to Vishal Vasishth, founder and managing director of Song Investment Advisors, did not elicit any response till the time of filing this article.
Song is a $17 million fund, backed by search giant Google Inc., Soros Economic Development Fund and Omidyar Network. Its investment size ranges from Rs 50 lakh-Rs 20 crore over the life of the investment.
Be Well Hospitals is a chain of secondary care medical facilities targeted at tier II and tier III cities, as well as metro suburbs. These are 40-60-bed hospitals providing secondary healthcare services in underserved towns and localities. Song Investment has also backed Delhi-based eye specialty chain Eye-Q, which raised a follow-on round from Helion Venture Partners and Nexus Venture Partners.
Around 40 per cent of the patients of Be Well Hospitals, promoted by Dr C.J. Vetrivel and C. Lakshmanan, will be from the low-income segment.
Song Investment has also backed SV Agro Processing, an end-to-end potato supply chain management company handling everything from input selling, contract farming to infrastructure facilitation and logistics to ensure product delivery to processors and retail clients. The company has been promoted by Hemant Gaur and Ganesh Pawar, who had managed the agri supply chain for players like PepsiCo, ITC and Bharti WalMart.
SV Agro Processing works directly with 5,000 farmers and plans to reach 20,000 more in the next three years. Potato is the fourth largest crop with a $4 billion market and presents one of the fastest-growing food processing industries.
Song Investment has also invested in K12 Techno Services Pvt Ltd, which manages over 60 schools run by 15 different trusts under the Gowtham Model School.