Bain Capital may invest $250 million in Star Health & Allied Insurance even as Ola has reportedly raised up to $50 million from New York-based investment firm Tekne Capital Management.
Bain Capital to invest $250m in Star Health
The transaction, if successful, will come as a pre-IPO round of funding and will buy out shares held by other financial investors including Sequoia Capital, ICICI Venture, Tata Capital and Oman Insurance Co, the report said.
Kotak Mahindra has been appointed to help in raising the funds.
Ola raises up to $50m from NY-based Tekne Capital
The fresh infusion of funds is a part of company’s ongoing round which has also received money from Ratan Tata’s venture fund RNT Capital Advisors and US hedge fund Falcon Edge.
Ola, run by ANI Technologies Pvt. Ltd, raised capital at a lower valuation of $3 billion last year, from $4.5-5 billion in 2015.