Mumbai, Sept. 11 -- Multi-specialty hospital platform Marengo Asia Hospitals has raised $40 million in growth capital from LeapFrog Investments, the company said in a statement on Friday.

The company, which is looking to expand into tier I and tier II cities. has not disclosed the valuation details. Mint was the first to report on the round on 1 June.

The funds will help deepen Marengo's presence in existing markets, expand into adjacent geographies and invest further in medical technology, centres of excellence, and patient experience. Avendus Capital was the advisor on this transaction.

Marengo is backed by private equity firm Samara Capital and the family offices of the Godrej and Havells groups.

"Our partnership with Marengo reinf...