The Asian Development Bank (ADB) is investing in OrbiMed Asia Partners V, a private equity fund managed by OrbiMed Advisors LLC while KKR is reportedly in advanced negotiations to invest in Hero Future Energies.
ADB invests $60m in Orbimed Asia Partners V
The Asian Development Bank (ADB) has signed a $60- million equity investment in OrbiMed Asia Partners V, a private equity fund managed by OrbiMed Advisors LLC.
OAP V seeks to provide growth capital for 20-25 healthcare companies across the biopharma, medical technology, healthcare services, diagnostics, and distribution subsectors in India and the People’s Republic of China. Investment sizes will typically range from $10 million to $50 million per company.
This is ADB’s fourth investment in an OrbiMed-managed healthcare fund, following previous commitments to OrbiMed Asia Partners II, LP in 2014, OrbiMed Asia Partners III, LP in 2017, and OrbiMed Asia Partners II, LP in 2021.
KKR to invest $400m in Hero Future Energies
KKR is in advanced negotiations to invest around $400 million in Hero Group’s renewable energy company Hero Future Energies (HFE), ET reported.
The investment is for a significant minority stake but comes with significant governance rights that would make KKR a co-promoter along with founder chairman and managing director Rahul Munjal.
HFE’s wholly owned subsidiaries include Hero Wind Energy Pvt Ltd, Hero Solar Energy Pvt Ltd and Hero Rooftop Energy Pvt Ltd.