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Advent International will make a Rs 16,650 crore investment in Telangana
Advent International, one of the largest private equity firms in the world, has chosen Hyderabad as the location for the headquarters of its Cohance Platform, with an investment of roughly Rs.16,650 crore.
This investment reflects the increasing confidence of Telangana companies in the life sciences industry.
Industries Minister KT Rama Rao tweeted on Friday, "Excited to announce that the leading global private equity firm, Advent International, has selected Hyderabad as the headquarters for its "Cohance platform," with a cumulative investment of USD 2 billion (approximately Rs. 16650 crores)"
The Minister met with Pankaj Patwari, Managing Director, and Vaidheesh Annaswamy, Operating Partner, to discuss their investment and the company's ambitious expansion plans.
Sharing additional information about the meeting, the Minister tweeted, "I'm thrilled that the company will be establishing a greenfield R&D facility in Hyderabad, highlighting the city's importance in the pharmaceutical industry. Their ambitious growth plans demonstrate Hyderabad's expanding influence in the Pharma & Life Sciences sector,"
The Telangana government has set an ambitious goal of increasing the value of the state's life sciences ecosystem to $250 billion by 2030, up from the current $80 billion.
The Minister expressed confidence that Advent would continue to flourish in Telangana and pledged unwavering support for the industry partners' expansion efforts.
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