India Digest: TA Associates backs Synokem; GetVantage, IPV team up

PE firm TA Associates said it has made a strategic investment in Synokem Pharmaceuticals, while GetVantage and Inflection Point Ventures have teamed up targeting to invest $24.5 million in 500 businesses over the next year.

First funding round for Synokem Pharma

TA Associates on Wednesday said that it has made a “strategic” investment in Delhi-based Synokem Pharmaceuticals Ltd. Details of the funding were not disclosed.

This is the first round of funding that Synokem Pharma has raised till date, and Synokem’s founders will continue as shareholders in the company alongside TA.

Founded in 1983 by JM Arora, Synokem Pharmaceuticals Ltd produces generic drugs for India and 30 other countries globally. Synokem is based in New Delhi with manufacturing and R&D facilities in Haridwar.