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Asian Healthcare Fund, Ventureast invest Rs 40 crore in optical retail chain Ben Franklin

Tags: Asian Healthcare Fund, Ventureast, Ben Franklin, Ophthalmologists, Eye Gear Optics India Pvt Ltd, Optical Retail space

February 04, 2015 | COMMENTS ( 0 )

Asian Healthcare Fund, Ventureast invest Rs 40 crore in optical retail chain Ben Franklin

Asian Healthcare Fund (AHF), along with Ventureast today announced an investment of 40 crore in Eye Gear Optics India Pvt Ltd (Ben Franklin),which operates a pan-Indian chain of Optical Retail stores under the brand name Ben Franklin.

AHF is one of the premier Indian Healthcare platforms and Ben Franklin is their fourth investment from their first PE Fund.

Ventureast is an India-centric early-stage focused fund which has enabled over 80 innovative businesses across multiple sectors and multiple stages of a business.Ventureast's Life Fund has previously made investments in drug discovery, medical devices, diagnostics, biotechnology and healthcare delivery.

Ben Franklin follows a unique and differentiated business model of partnering with leading Ophthalmologists by being co-located in their Eye Hospitals & Clinics. Ben Franklin has brought international standard optical care through their 180 plus stores across cities in India.

Mr. Raj Pyla, Managing Director& CEO, Ben Franklin, commenting on the development said "We are excited to partner with Fundslike AHF & Ventureastand believe that AHF's strong domain expertise in healthcareand Ventureast's experience in helping build businesses will help us in harnessing the value of partnership and achieving our growth objectives.

Mr. Ajay Vij, CEO, AHF said on the occasion "We believe that Ben Franklin meets a strong need of providing high quality optical products to a large section of the population through their innovative model. We are excited at the opportunity of partnering with Ben Franklin and Ventureast in building a leading player in the Eye Care products space in India."

"We believe Ben Franklin has the potential to be a game-changer in the Optical Retail space in India with its unique model and strong relationships with doctors. We are very happy to be joining hands with the Ben Franklin team and AHF to take Ben Franklin to greater heights" said Ramesh Alur, General Partner, Ventureast.

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