British International Investment

Kotak India Private Equity Fund III

IndiaSouth AsiaConsumer - Health

Kotak India Private Equity Fund III focuses on investments in mid-sized high-growth firms in the pharmaceutical, life sciences, healthcare, consumer, technology and financial services sectors.

This investment was made when British International Investment was named CDC Group.

Our investment

Description of the investment.

In 2016, CDC invested $40 million in Kotak India Private Equity Fund III.

Our investment provides much-needed growth capital for India's mid-sized firms in the healthcare sectors.

Expected impact

Expected impact of investments made between 2012 and 2018. From 2019 onwards, we have published a fuller set of impact information, assessing each investment against six dimensions of impact.

Many of India's small and medium-sized businesses struggle to raise the finance they need to expand beyond their local markets.

Our investment enables the fund manager to invest in Indian entrepreneurs and teams at emerging businesses which have the potential for regional or national growth.

This helps foster the country’s next generation of successful enterprises, create direct and indirect jobs, and generate broader economic growth.

In addition to growth capital, the fund manager provides managerial, technical and operational know-how to investee companies.

Predecessor funds have invested in healthcare provider Manipal Hospitals, pharmaceutical company Rubicon, and aerospace manufacturer, Mahindra Aerospace.

Environmental and social information

  • Environmental and social summary

    A high-level description of the environmental and social aspects of the investment. This may include a summary of key environmental and social risks identified during environmental and social due diligence (ESDD); key elements of an environmental and social action plan (ESAP); or ways in which we plan to support the investee improve environmental and social standards, such as through their environmental and social management system (ESMS); as well as any other priority areas agreed with the investee.

  • Environmental and social risk

    A risk category rating, which indicates the level of environmental and social risk associated with an investment. For an explanation of the categorisations used, see here. We consistently provide an environmental and social risk category for all investments screened from 2023 onwards.

Environmental and social summary

We work closely with the fund manager to improve its existing ESMS, including delivering an action plan.

Reporting and Complaints Mechanism

The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to [email protected] or by mail. See more details on our Reporting and Complaints Mechanism here.

For any other general enquiries contact us at [email protected]

  • Key facts

    Last updated

    When the last quarterly update of the website database occurred.

    :
    March 2024
    Project number

    An identifier number shared by investments in the same project.

    :
    D239
    Status

    The current status of the investment (green flag for active and red flag for exited).

    :
    Active
    Region

    The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.

    :
    South Asia
    Sector

    We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.

    :
    Consumer - Health

    We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.

    For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.

    For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.

    For direct equity investments, this is the date at which British International Investment exited the investment.

    For debt investments, this is the date at which the final debt repayment was made.

    For funds, this is the date at which the fund was terminated.

    For underlying fund investments, this is the date at which the fund manager exited the investment.

    The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.

    For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.

    The currency in which the investment was made.

    Investment type :
    Fund
    Start date :
    March 2016
    Amount :
    $40m
    Currency of investment :
    USD
    Fund Manager:
    Kotak Mahindra (International) Limited
    Domicile

    The company or investment fund’s place of incorporation.

    :
    Mauritius

Investments made by this fund into companies:

For further information about these companies, visit https://www.kotak.com/en/kotak-international-business.html

Investment name Country Region Sector Start date Status
Bharat Serums & Vaccines Limited India South Asia Consumer - Health August 2016 Exited

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