New Delhi, Dec. 8 -- Private equity firm Creador said Monday it has acquired a 7% stake in Ahmedabad-based La Renon Healthcare Pvt Ltd from the pharmaceutical company's promoter and existing venture capital investor Peak XV Partners.

La Renon's promoter family led by Pankaj Singh continues to hold a controlling stake in the company, according to a press release.

Creador didn't disclose the deal value but VCCircle has gathered that it invested about Rs 800 crore, or around $90 million. This would value La Renon around Rs 11,400 crore ($1.26 billion), back-of-the-envelope calculations show.

Peak XV Partners first backed La Renon in 2015 with an investment of Rs 100 crore in a Series A round.

La Renon has attracted marquee investors over the years. Growth-stage venture capital investor A91 Partners joined its cap table in 2021 and PE firm ChrysCapital invested $70 million in 2024. The company also added Avendus, White Oak, and Sigular Guff to its cap table this year.

Founded in 2007, La Renon operates in India's branded formulations market with a strong presence in nephrology, neurology, and other chronic segments.

The company claims to have delivered 25% CAGR in revenue and 30% CAGR in EBITDA over the last decade. For FY25, La Renon reported Rs 1,685 crore in revenue and Rs 356 crore in EBITDA, and expects to sustain strong growth and deliver record profitability in FY26.

Meanwhile, this is the second deal Creador has struck in India in as many months. Last month, the PE firm picked up a stake in non-bank lender IKF Finance through a secondary transaction.

Creador, the South- and Southeast Asia-focused private equity firm founded by Brahmal Vasudevan, is headquartered in Kuala Lumpur and invests across India, Indonesia, Malaysia, the Philippines, and Vietnam.

The PE firm invests in the mid-market segment across sectors such as financial services, consumer, healthcare, business services and manufacturing. It marked the final close of its sixth fund in January 2025 at $930 million (Rs 8,045 crore then), after breaching the hard cap of $850 million. This took the firm's assets under management above $3 billion.

Published by HT Digital Content Services with permission from VC Circle.