Star Health Insurance raises Rs 320-cr investments

Investors pick up minority stake in the stand-alone health insurance firm

Apis Growth Fund, ICICI Venture invest Rs 320 crore in Star Health Insurance

Apis Growth Fund-1 and ICICI Venture have acquired a minority stake in Star Health and Allied Insurance Company. The investors have infused Rs 320 crore into the company, which is valued at around Rs 2,000 crore. Apis Growth Fund-1, a private equity fund managed by Apis Partners LLP, and India Advantage Fund Series 4, a private equity fund managed by ICICI Venture, have acquired the stake, whose quantum was not disclosed. Apis Partners has joined the board of directors, which includes existing shareholders including Sequoia Capital and Tata Capital Growth Fund. V Jagannathan, ...