이 기사는 2020년 06월 03일 08:00 더벨 유료페이지에 표출된 기사입니다.
STIC Investments has recently invested $10 million in Sahyadri Hospitals in India, after it invested $10 million in delivery startup Dunzo last October. The firm’s investing activities in the country share the theme of infrastructure.
STIC Investments joined hands with STIC Ventures in October 2019 to invest $10 million in Dunzo, which is the firm’s first Indian portfolio company. This time, STIC Investments has solely invested in Sahyadri Hospitals.
Both Dunzo and Sahyadri Hospitals share the theme of infrastructure-related business with high growth potential in the country where social infrastructure is in need of development.
Dunzo is an Indian startup which provides on-demand hyper-local delivery services using motorbikes. It delivers a wide range of products, including everything from groceries to medical supplies. The app-based company also operates a pick-up and drop-off service, along with a bike taxi service. Such comprehensive delivery and transportation services make Dunzo different from other food delivery service providers.
Dunzo also received funding from Google, which saw a high growth potential for the start-up amid a rise in the household income and a growth in consumer market there.
STIC Investments has chosen Sahyadri Hospitals as its second investment in India because of its high growth potential. Sahyadri Hospitals is located in Pune, the second-largest city in the Indian state of Maharashtra, with a population of seven million.
Pune’s economy is growing at a rapid pace, with a large number of multinational companies entering the city. South Korea’s LG Group, POSCO and Hyosung have their production plants in the city.
STIC Investments’ bets on Sahyadri Hospitals and Dunzo have been made through its STIC Pan-Asia 4th Industry Growth Fund (Pan-Asia Fund). The firm’s 317 billion won Pan-Asia Fund focuses on growth companies in Asia’s emerging countries like Vietnam and India. The fund mainly invests in overseas companies that have connections with South Korean companies or their overseas entities.
Pan-Asia Fund is STIC Investments’ first blind-pool fund exclusively for overseas investments. Before investing in Dunzo, the fund’s portfolio was filled with Chinese and Vietnamese companies.
STIC Investments is expected to more actively invest in Indian market, considering the firm has built reputation and network through its two previous investments in the country.
STIC Investments is currently raising funds to launch its 500 billion won Pan-Asia Fund II, which is likely to be completed in the second half of the year. The firm plans to actively source new deals mainly in India and Vietnam, especially companies which are able to create synergies with domestic firms.
(Reporting by Hye-ran Kim)