Singapore state investor Temasek, pan-Asian PE firm HOPU Investments and other existing backers have re-upped in the sixth funding round of Ceva Animal Health (Ceva), the world’s fifth largest animal health company.
The French veterinary pharmaceutical company announced on Monday that minority investors Temasek and HOPU have re-upped in the financing round alongside French investors EMZ and Sagard and US-based Continental Grain Company.
Investors that increased their stake in the firm in the latest round include Téthys Invest—set up in March 2016 by the Bettencourt-Meyers family, the largest shareholders of L’Oréal, to make direct long-term investments in entrepreneurial projects; French healthcare group Mérieux Institute, owned by the Mérieux family; and healthcare-focused European private equity firm Mérieux Equity Partners.
Canadian pension investor PSP Investments, too, significantly raised its ownership in the French firm, per the release.
Ceva’s chairman and chief executive officer, Marc Prikazsky, will retain the majority of the voting rights.
Ceva did not disclose financial details of the transactions, but Bloomberg reported on March 29 that the new funding round could value the firm at “9 billion euros ($9.7 billion) or more”, citing people familiar with the matter.
With more than 7,000 employees across operations in 47 countries, Ceva’s portfolio includes preventive medicine such as vaccines and animal welfare products, pharmaceutical solutions for farm and companion animals, as well as equipment and services. Ceva’s revenue hit 1.77 billion euros ($1.9 billion) in 2024, as per the release.
