Avendus Future Leaders Fund (FLF), the flagship private strategies fund of the Avendus Group, has led an INR 300 crore investment in Aragen Life Sciences from its third fund, alongside SBI Life Insurance.

The transaction involved acquiring a minority stake in Aragen and marks FLF III’s second investment, following its investment in La Renon Healthcare earlier this year.

Ritesh Chandra, Managing Partner, Avendus Future Leaders Fund, said, “Our investment in Aragen reflects our strong conviction in the prospects of the CRDMO market in India and specifically the prospects of the company to capture the tailwinds as global pharmaceutical companies increasingly turn to India for drug research and discovery.”

Aragen is one of India’s leading CRDMOs (Contract Research, Development, and Manufacturing Organizations) focused on innovative pharmaceuticals, supporting small molecules (chemical entities) and biologics through the entire value chain.  

Commenting on the deal, Manni Kantipudi, CEO, Aragen Life Sciences, said, “Aragen and its Board are very excited to welcome Avendus Future Leaders Fund and SBI Life Insurance, who are long-term and trusted institutions as shareholders in the company. Our future is very promising, and we are excited to diversify our shareholder base to such prestigious institutions.”