New Delhi, Aug. 13 -- Avendus Group's private equity fund, the Avendus Future Leaders Fund (FLF) has made a Rs.300 crore investment for a minority stake in Aragen Life Sciences alongside SBI Life Insurance. Both investors contributed an equal amount, i.e. Rs.150 crore each. The investment was made out of FLF III.

The stake purchase is a secondary transaction, with both investors buying 'over 2.5%' in Aragen from the Reddy Investment Trust, which is associated with the GVK Group. The Trust diluted its stake in Aragen, which was earlier known as GVK Biosciences, before rebranding it in December 2020 to its current name.

"Healthcare has been a secular theme across funds for a long time. We've now done two deals in the sector," Ritesh Chand...