General Atlantic, an Abu Dhabi investor, and the CPPIB are poised to contribute $250 million to PharmEasy.

26 July 2024

ADIA is an Abu Dhabi-owned sovereign wealth fund, General Atlantic is a growth equity company, and CPPIB is a Canadian organization that invests money held in and contributed to the Canada Pension Plan.

PharmEasy, the biggest online pharmacy in India, is now valued at $2.5-2.75 billion, less than half of its pre-IPO estimate of $5.4 billion for October 2021.Nearly a month ago, the IPO was withdrawn.

Existing investors TPG Growth, Prosus Ventures, Temasek, and ADQ will contribute roughly $70-80 million through a convertible instrument to the most recent round.The fundraising is being advised by Bank of America and Morgan Stanley.