Avendus Future Leaders Fund (FLF), a private equity arm of the Avendus Group, has led a ₹300 crore investment in Aragen Life Sciences, a prominent contract research, development, and manufacturing organisation (CRDMO). The investment, made through FLF III — the fund’s third edition — also includes participation from SBI Life Insurance. This is FLF III’s second deal, following its earlier investment in La Renon Healthcare.
Founded in 2001, Aragen focuses on cutting-edge pharmaceutical research and manufacturing. Led by CEO Manni Kantipudi, the company specialises in complex technology platforms and integrates digital and AI tools. Aragen supports clients from early discovery to commercial-scale manufacturing, especially for novel molecules.
Ritesh Chandra, managing partner at Avendus FLF, highlighted strong growth prospects for the Indian CRDMO sector, especially as global pharma firms look beyond traditional hubs like Europe and China. India, with its skilled workforce and expanding infrastructure, is becoming a preferred destination. He expects India’s global CRDMO share to rise from 8% to near China’s 14% within 3–4 years.
With two healthcare deals completed, FLF is now exploring opportunities in electronics and engineering manufacturing. However, the fund remains cautious about urban consumption trends and is more optimistic about rural demand resilience.
