Quadria Capital, Asia’s healthcare-focused private equity firm, announced the sale of a 10% stake in Akums Drugs and Pharmaceuticals as part of its initial public offering (IPO). Separately, space tech startup EtherealX, which makes reusable rockets, on Tuesday, said it has raised $5 million in a seed funding round, led by YourNest.
Quadria Capital sells 10% stake in Akums Drugs
Quadria Capital, Asia’s healthcare-focused private equity firm, announced the sale of a 10% stake in Akums Drugs and Pharmaceuticals as part of its initial public offering (IPO).
The transaction, through which Quadria will retain a 5% stake in Akums, represents the firm’s second exit from a pharmaceuticals company through public markets in the last year, following its exit from biopharma company Concord Biotech in August 2023.
Quadria’s investment in Akums in November 2019, has generated a 3x return in 4 years of its investment.
Spacetech startup EtherealX raises $5m
Space tech startup EtherealX, which makes reusable rockets, on Tuesday, said it has raised $5 million in a seed funding round, led by YourNest.
The round also saw participation from BIG Global Investments JSC, BlueHill Capital, Campus Fund, and Golden Sparrow Ventures, Karan Bhagat & Yatin Shah from IIFL Wealth, Kiran Shetty, and Akhilesh Agarwal.
The capital will be used to make engines for EtherealX’s fully reusable medium-lift launch vehicle, called the “Razor Crest Mk-1”, the company said in a statement.
