Kotak Private Equity said on Tuesday that it has invested in Rubicon Research, a product development company.
Kotak, however, did not disclose the amount invested. “We have invested in Rubicon Research,” Kotak PE CEO Nitin Deshmukh told reporters here. Rubicon Research was established in 2000 as a contract research service company.
Kotak PE has deployed $700 million of the $1.4 billion that it is managing in various companies across verticals. “We have to deploy another $700 million. We will invest at least $100 million in pharma,” Deshmukh said.
The CEO said the valuations were high in infrastructure and real estate companies and hence, it was waiting for valuations to come down before it makes investments there, he said. Rubicon Research has invested Rs 30 crore in setting up a clinical trials supply facility in Ambernath, near Mumbai. After the commissioning of the facility next month, Rubicon Research would supply drugs to companies that carry out clinical research trials.
This segment (clinical trials) is a specialty and niche segment, Rubicon Research Chief Executive Pratibha Pilgaonkar said.
Source: Economic Times